Why do you need Bakery Insurance?
Your job is to make sweet treats, but even a bakery needs some protection when things go awry. For example, if a patron cuts himself on the metal edge of your bakery display, you could be held liable for his bodily injury.
Or if a fire breaks out in your kitchen, damaging a commercial-grade appliance, you may not be able to afford to buy a new one out-of-pocket. Bakery Insurance, which includes general liability insurance and commercial property insurance, provides a financial safety net if you find yourself facing accidents such as these.
What does Bakery Insurance cover?
Bakery Insurance is a type of Business Owners Policy (BOP), which combines general liability insurance and commercial property insurance in one convenient and cost-efficient policy. It’s designed to help bakery owners protect their business against the financial impact of many common risks they experience every day. In other words, you can focus on your sourdough starter without souring your credit score.
So what exactly does it include? Like sugar and yeast, Bakery Insurance combines two essential types of coverage:
General liability insurance
Protects you against the financial impact of claims of bodily injury, property damage, or personal and advertising injury from third parties. For example, say some coffee spills on the floor. Before you can mop it up, a hungry customer who is waiting in line slips and falls, sustaining an injury. If you are held liable for her injury, Bakery Insurance can pay for her medical expenses.
Commercial property insurance
Covers the building that you own and your business personal property. This means that the four walls of your bakery, your machinery and equipment, and the property that your business owns or leases are covered for direct physical loss. What might this entail? Imagine that your bakery items get too toasty and cause smoke damage. Bakery Insurance can help you with repairs. Or if someone steals your A-frame menu outside of your door, Bakery Insurance can help you buy a new one.
Business interruption insurance
Covers loss of business income due to direct physical loss or damage. If the aforementioned fire in your kitchen results in business closure, Bakery Insurance will pay your lost revenues and expenses while you’re closed — and even provide additional expenses to operate somewhere else while you wait for repairs.
Just as you offer sprinkles and other add-ons on your famous donuts, Bakery Insurance has some optional coverages that you can include in your policy:
Equipment breakdown coverage
Say that a power surge causes one of your ovens to short out. If you have equipment breakdown coverage on your policy, it could help cover the expense of getting a new oven.
Hired or non-owned auto
If you have an employee deliver cupcakes to a school, you’ll want to make sure you have this additional coverage in case they get into an accident. Hired or non-owned auto coverage applies to bodily injury and property damage from at-fault accidents due to the use of an auto owned by one of your employees or hired by your business.
Who needs Bakery Insurance?
If you own a small-to-medium-sized bakery, you need Bakery Insurance. Whether your bakery is big or small, the combination of liability insurance and commercial property coverage will protect you, your business, your building and most of the contents inside.
As a baker, your day starts long before the sun comes up. And like you, Bakery Insurance is there at all hours of the day or night to protect you from the financial impact of accidents and losses.
How much does Bakery Insurance cost?
You don’t have to give us the ingredients for your secret cake recipe. But we can give you a glimpse into how we determine your insurance premium. Thimble will use your location as the primary factor to determine your price, as well as asking a few questions including:
- Construction materials of the building
- Whether or not it is fire-resistant
- The occupancy use of the building
BOP: The best recipe for insurance coverage
Getting Bakery Insurance couldn’t be any easier. With Thimble, you’ll be protected from the financial impacts of liability claims and if something happens to your commercial property. To start, simply click “get a quote” here or on the Thimble mobile app, and you can have a policy within minutes — so that you can get back to mixing ingredients.
Bakery Insurance FAQs
I don’t want commercial property insurance. Do I need Bakery Insurance?
If your bakery doesn’t have a physical footprint, you can opt out of the commercial property portion of Bakery Insurance and still get general liability insurance. However, you cannot purchase commercial property insurance on its own.
How do I show proof of insurance if I purchase Bakery Insurance?
When you get your policy, you can immediately download as many Certificates of Insurance (COI) as you need online or on your app, at no additional cost.
Does Bakery Insurance protect the equipment that travels with me to jobs?
Thimble will insure up to $10,000 of your owned gear while it’s away from your main location. For example, if you’re catering a book club meeting with themed cookies, your stock is covered while it’s in transport, loaded, and while your gear is back in the bakery van. If you need more coverage, you’ll need to get Business Equipment Protection.
I want to hold an event at my bakery. Will Bakery Insurance cover me?
Some events held on your property may be covered by your BOP. However, if you allow a third party to host an event at your location, you’ll want to make sure that they get event liability insurance.
Does general liability coverage through Bakery Insurance cover injury to my employees?
Employee injuries or illnesses are not covered by general liability. Most states require any business with at least one employee to have workers’ compensation insurance, which covers employee’s injuries and illnesses that they sustained or contracted at work.
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