Posted by Carl Jones on April 30, 19101 at 13:32:34 :
In Reply to: Insurance Prices? posted by Marcey Brownstein on April 29, 19101 at 09:29:29 :
: I have been catering for the last year in NYC. I usually use "as needed" rental kitchens either in another caterer's space or in a restaurant space and sometimes from my home. I have begun to get higher profile clients and corporate clients and I know I now need to take the leap and get some insurance. Does anyone have any idea of what this should cost in New York City? I have gotten a quote from one company for $3000. This is for general liabilities mostly, not workman's comp and not for liquor service. It is for a standard $1,000,000 policy. It also will cover catastrophic damage of another person's property, etc. The broker told me the standard for this is $20 per thousand so if I am grossing $150,000 the coverage will cost $3000. This sounds high to me so I wanted to get some feedback. Any info would be helpful. Thank you.
Marcey,
You need to take that leap for insurance anytime you cater. Not just high profile. Anyone will sue you for food bourne illness or damages, NOW. The quote sounds high to me too. I would call around and get more quotes.... What I get in TN may be dramatically different than NYC.
Congratulations on your success!
Carl