Bakery Insurance in New Hampshire
What is Bakery Insurance?
Operating a bakery can be both financially and personally rewarding, but the endeavor comes with certain risks. Bakery insurance helps bakeries in New Hampshire shield themselves from many covered risks that they face.
Though there is not a specific bakery insurance policy, bakery owners can purchase specialized commercial policies that are designed to meet the particular needs of bakeries and similar businesses. Many of these policies are package policies that come with multiple individual coverages so the policies can provide robust protection.
What New Hampshire Businesses Need a Bakery Policy?
Any business that serves the general public (especially with food) needs insurance. The question is which coverages, as not every bakery, is the same. Perhaps your New Hampshire bakery is open for limited hours and strictly serves walk-in traffic. Perhaps you are not open to the public and make bread and cookies for local restaurants or national grocery stores, or maybe you specialize in wedding cakes and deliver to various venues.
You can see how all of these types of bakeries have different risks, so make sure you create a bakery insurance package right for your business. Other types of bakeries include:
- Retail bakeries that sell fresh baked goods
- Wholesale bakeries that sell pre-packed or fresh baked goods
- Bakeries that make baked goods in a home kitchen
- Specialty pastry or bread shops
Businesses that aren’t sure what they need for insurance should speak with an insurance agency like HPM Insurance, that specializes in protecting bakeries. An agent who has a full understanding of your operation can put together an insurance package to fit the needs of your business.
What Coverages Do Bakery Policies Provide?
As mentioned, the exact coverage that a bakery may need varies by the particular business, but there are a few coverages that are common include:
- General Liability Coverage, which might protect against some accidents a business is responsible for
- Product Liability Coverage, which might protect against harm caused by products a bakery sells
- Building Coverage, which might protect a baking facility or storefront that a bakery owns
- Contents Coverage, which might protect supplies, fixtures and equipment a bakery owns
- Equipment Breakdown Coverage, which might protect equipment that malfunctions
- Food Spoilage Coverage, which might protect ingredients and foods that spoil following a covered disaster
- Loss of Income Coverage, which might protect against sustained revenue losses following a disaster
Do Bakeries Need Workers Compensation Coverage?
Any bakery with employees, whether working out of a home or in a shop, is required to carry worker's compensation coverage by law. Worker's compensation usually covers work-related illnesses and injuries of employees. Self-employed business owners who don’t have employees may still want this coverage in case their health insurance doesn’t cover a job-related injury or want to ensure anyone they may bring on to help during a busy season is covered (and avoid a fine from the Department of Labor).
NH worker's compensation is purchased through a separate policy, but an agent who assists with NH bakery insurance can also help you with worker’s compensation.
Is NH Bakery Insurance Expensive?
The vast majority of bakery policies offer reasonably priced coverage as bakeries are considered a desirable risk for most insurance companies. Speak with an agent, like HPM Insurance that can quote various companies to find you a good fit with coverage and price.
What if I Commercially Bake from My Home?
If you work out of your home, you may be able to request an endorsement onto your homeowner's insurance policy to cover your business; however, production must typically be small. Be sure to check with your home insurance carrier to get the details.
A word of caution, do not assume your home insurance company will cover your business just because it is in the house. Coverage for a business in the home is very limited for business property and may be excluded entirely for any business liability. Have an honest conversation with your insurance professional to ensure you have the protection you expect for your home and your business.
How Can Bakeries in New Hampshire Get Bakery Insurance?
For help insuring a bakery of any size, contact the independent insurance agents at HPM Insurance. Our team members have worked with many bakeries in New Hampshire and throughout New England, and we’re ready to help your business find a bakery insurance policy that’s affordable yet provides solid protection. Now that is sweet.