Charlotte’s thriving restaurant scene has become a central part of North Carolina’s culinary identity. With some of the best cuisine in the country, the Queen City offers a little bit of everything for its many residents and visitors.
However, for insurance brokers, the wide spectrum of restaurants represents both a challenge and an opportunity. With thousands of restaurants in Charlotte and across North Carolina, the need for comprehensive insurance coverage is vital.
In this guide, we’ll break down how Distinguished’s restaurant insurance addresses the specific risks faced by Charlotte’s restaurant owners. From understanding local exposures to leveraging tailored package policies, you’ll gain the insider knowledge needed to win your client’s trust and business.
What Exposures Do Charlotte Restaurants Need to Worry About?
Whether it is a major fire or foodborne illnesses, restaurants in Charlotte — and North Carolina — need comprehensive insurance coverage to help them financially recover from unexpected and financially devastating events.
Based on our decades of experience in this industry, here are some of the top exposures we see restaurants facing in markets like Charlotte:
- Fire damage: Fire is a constant risk in hot kitchens, and even a small incident could lead to heavy repair bills and a temporary closure.
- Contaminated food: Even the most diligent restaurants run the risk of food contamination leading to customer illness, which can leave them vulnerable to lawsuits.
- Over-serving of alcohol: Restaurants can face legal and financial fallout if the alleged over-serving of a patron leads to property damage or a car accident.
- Cyber attacks: Digital systems like payment terminals and booking systems are convenient, but they also open restaurants up to the possibility of expensive data breaches.
- Slip-and-fall incidents: High foot traffic in dining areas and restrooms increases the risk of customer or employee injuries, which can lead to costly liability claims.
- Employee-related risks: Claims of wrongful termination, discrimination, or harassment can arise, particularly in high-turnover environments like restaurants.
- Equipment breakdown: A sudden breakdown of refrigeration units, ovens, or HVAC systems can result in both operational disruptions and financial losses for a restaurant.
- Theft or vandalism: Restaurants can be common sites of burglary or vandalism, which can not only turn off customers but also lead to pricey repair bills.
What Does Distinguished’s Restaurant Insurance Cover?
Distinguished’s Restaurant Insurance program offers brokers in Charlotte a range of coverages that address the unique risks facing modern restaurants.
Key coverages we offer include:
- Property insurance: Protection for buildings, equipment, and inventory against fire, theft, and natural disasters.
- General liability insurance: Coverage for legal claims related to customer injuries or property damage.
- Liquor liability insurance: Essential for restaurants serving alcohol, this coverage protects against claims involving alleged intoxicated patrons.
- Employment practices liability insurance (EPLI): Protects restaurant owners from claims filed by employees (or former employees), such as discrimination or wrongful termination.
- Food spoilage and contamination coverage: Compensates for losses due to spoiled inventory or business interruptions caused by foodborne illness.
- Cyber liability insurance: Protects restaurants against the financial fallout of data breaches and cyberattacks.
- High-limit umbrella insurance: Offers liability coverage beyond standard policy limits, with options up to $130 million.
Distinguished’s Restaurant Package policy simplifies coverage by bundling property, general liability, and liquor liability into a single, comprehensive policy that offers restaurants the protection they need in one easy-to-manage solution.
How Much Does Restaurant Insurance Cost in Charlotte?
Restaurant insurance costs vary widely in Charlotte, with pricing influenced by the unique characteristics and exposures of each business.
When determining the price of a policy, our underwriters will look at factors such as the restaurant’s size, location, type of services offered, and additional coverage needs.
To give you and your clients a better understanding of how pricing is determined, here is a list of some of the most important factors our underwriters evaluate:
- Type of establishment: The kind of restaurant your client operates — whether it’s fine dining, fast casual, or a wine bar — affects risk levels and coverage costs.
- Location risks: Areas with higher crime rates or increased foot traffic face higher premiums.
- Revenue and size: Larger restaurants with higher sales volumes often require more coverage due to increased liability exposure.
- Alcohol sales: Establishments serving alcohol will need liquor liability coverage, which can raise overall premiums.
- Safety features: Restaurants with safety measures like fire suppression systems, security cameras, or well-maintained electrical systems may benefit from lower rates.
- Optional coverages: Additional protection, such as food spoilage or cyber liability insurance, will also impact the overall cost of the policy.
Because no two restaurants are alike, obtaining a tailored quote is the only way to determine the exact cost for your client’s business.
To get a detailed quote for your client’s specific situation, we recommend you submit their details to us. We will then provide you with a bindable quote as soon as we can.
Which Restaurants Qualify for Distinguished’s Insurance in North Carolina?
Distinguished’s restaurant insurance is designed to accommodate a wide range of dining establishments in Charlotte and beyond.
Eligible restaurant types include:
- Fine dining
- Family or casual dining with table service
- Fast casual restaurants
- Wine bars
- Off-premises caterers
Beyond the above kinds of restaurants, Distinguished is open to insuring harder-to-place risks, including new restaurant ventures led by experienced operators, sushi bars or establishments specializing in raw foods, and hibachi restaurants featuring tableside cooking.
If you’re unsure whether your client’s restaurant qualifies, reach out to our team so we can review the situation and find the right coverage solution for them.
Why Partner With Distinguished for Restaurant Insurance in Charlotte?
Partnering with Distinguished gives brokers a distinct advantage in Charlotte’s competitive restaurant market.
Here’s why:
- Industry expertise: Decades of experience insuring restaurants means we understand the specific risks and challenges your clients face.
- High-limit umbrella coverage: With limits up to $130 million, our umbrella policies provide unmatched protection against even the largest of claims.
- Diverse appetite: From fast casual to fine dining, Distinguished insures a wide variety of restaurant types.
- Exclusive access: Our program is available only through Distinguished, offering brokers a unique selling point for their clients.
- Admitted coverage: Backed by an A+ XV-rated carrier, our policies provide the stability and reliability your clients deserve.
- Support for new ventures: We welcome new restaurants with experienced management, ensuring entrepreneurs have the coverage they need to succeed.
Register Your Brokerage With Distinguished Programs Today
Registering with Distinguished gives you access to an exclusive program tailored to meet the unique insurance needs of restaurants in Charlotte and throughout North Carolina.
To get started, simply visit our website and register your brokerage or agency.
Don’t forget our Restaurant Insurance Program is available nationwide (Package not available in Alaska), giving you the flexibility to serve clients in Charlotte or nearly anywhere else in the U.S.
If you have questions about coverage in Charlotte or North Carolina, reach out to Alex Montclair, your local restaurant insurance expert and Business Development Manager at Distinguished Programs, at amontclair@distinguished.com.
