One of the major reasons small businesses, including Personal Chef businesses, need liability insurance, isn't for the cost of claims, but for the cost of defending claims. The insurance company looks at how much it costs to defend, which can get into the hundreds of thousands of dollars, and often settles. Without Chef insurance, that cost to you of hiring a lawyer and defending the claim, could be the difference between you staying in business or going out of business, or worse, going bankrupt.
LAWSUITS ARE A GROWING TREND
Another important reason to get liability insurance is that the number of cases, claims, and the amount of settlements, are all rising. Canadians are becoming more 'comfortable' with starting claims and lawsuits, just as in the U.S. Before, if a client became ill after consuming prepared food, they may simply gone to the doctor; now, they are more likely to follow up with their lawyer first. The good news is, however, that your premiums are tax deductible.
Chef Liability Coverage starts at $1,000,000 and goes up to $5,000,000 depending on your business needs. A survey of major commercial insurance companies for comparable liability insurance policies, to the one offered by The Chef Alliance, produced quotes ranging from $85 to $150 per month for an individual $1,000,000 policy.
SAVING YOU MONEY
With low cost membership rates, which includes the Chef Liability Insurance and other benefits, the savings to your bottom line are significant.
General Liability Insurance is just that, GENERAL. It covers the things that might go wrong - so your normal business activities and also unexpected and unplanned events. The policy is underwritten by The Economical Insurance Group, and it covers in-home Personal Chef & Catering services for up to 20 people. Additional insurance coverage for events with up to 200 people can also be purchased to suit your business needs.
Our standard coverage includes $100,000 Tenant's Legal Liability coverage, but we also offer $1,000,000 and $2,000,000 options.
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Member benefits and coverage are subject to change without notice. For more information on protecting your Chef business, please contact our office.