Average Cost of Bakery Insurance
Many bakery owners should consider getting a Business Owner's Policy (BOP)
as a foundation of their bakery insurance, which combines three essential types of coverage. Our customers paid an average of about $85 a month for coverage.1
Be aware that insurance companies use different factors to determine a bakery business’ insurance costs. One of those factors is the type of coverage you need to protect your bakery from financial loss. Prices vary between different insurance coverages.
What Are the Best Coverages To Have for Bakery Insurance?
A BOP is a good starting place for many bakery owners. It includes:
General liability insurance
, which helps cover claims that your bakery caused bodily injury or property damage to someone else. So, if your employee accidentally drives into a customer’s mailbox while delivering a cake, this type of liability insurance protects your business and can help cover repair costs.
Commercial property insurance
covers the owned or rented building your bakery is in, as well as the equipment you use to run your business. This includes your bakery’s:
Business income insurance
to help replace lost income if you can’t operate because of covered property damage. So, if a fire damages your building, destroys your baked goods or you can’t open while repairs are done, this insurance can help cover your lost income. This coverage can help pay ongoing expenses like bills, rent and payroll.
You may need to get additional insurance coverage for more protection. Be aware that some states may also have bakery insurance requirements, like carrying workers’ compensation coverage if you have employees.