Restaurant Insurance Baton Rouge – Free Quotes for Louisiana Businesses
If you are in need of Restaurant Insurance in Baton Rouge then stick around.
Jeff Davis Insurance offers free quotes from multiple providers for Louisiana Business Insurance.
Call 337-824-4455 any time Monday through Friday 8:00 AM to 12:00 PM and 1:00 PM to 4:30 PM CST or request a quote online by clicking one of the locations below:
- Baton Rouge Business Insurance for Restaurants
- Business Insurance for Restaurants Shreveport
- Lafayette Restaurant Insurance
- Business Insurance for Restaurants Monroe La
- New Iberia Restaurant Insurance
- Restaurant Insurance Louisiana – All Areas Not Listed
Baton Rouge Restaurant Insurance – Story Recap
In previous installments of our series on restaurant insurance, Pete Ross, owner of Squeaky Pete’s Pork Emporium, learned that his restaurant insurance policy was being dropped due to his inordinately high frequency of insurance claims.
Tracy, Pete’s reliable insurance agent, did her best to find new restaurant insurance options for her client. There is only one company left willing to insure Pete’s business despite its claims history, but their offer is significantly more expensive than what Pete had been paying up to that point.
Pete then informs Tracy that he intends to buy the building he had been leasing for his restaurant and wonders whether owning the property will afford him a discount on his insurance.
Tracy says she’ll get back to him soon.
Business Insurance Baton Rouge – Coverage Scenario Part 13
After putting together the adjusted quotes, Tracy calls Pete back two days later.
“Hi, Pete.”
“Hi, Tracy,” answers Pete. “Do you have any news for me?”
“I do. I had someone do a replacement cost assessment on the building you intend to buy, to determine the total amount of money it would cost to completely replace the building were it to be destroyed, let’s say because of a tornado or a fire,” explains Tracy.
“Your insurance rate will be based, in part, on the property’s replacement cost, and her estimate puts the replacement cost at about $1 million.”
“$1 million? But I only paid $150,000 for it!” Pete exclaims.
“Yes, you got it for a great price, but there is a difference between market value and replacement cost. Replacement cost is a rough estimate of what it would cost to replace your building if the whole thing burned down or something like that. It would certainly cost more than $150,000.”
“Okay, so what will my yearly rate be?” asks Pete.
“Last time we spoke I told you your rate with the new company was going to be $14,000 for the year, but if we add $1 million in coverage for the building you just bought, that $14,000 figure jumps to $27,000 for the year…”
Not for the first time, Pete spews coffee in surprise.
He spends the next twenty minutes on the phone with Tracy trying to figure out how he can get the price down.
Will he find a way to lower his rate, and if so, will it actually save him money in the long run?
Find out in our next article.
Baton Rouge Restaurant Insurance – Contact Us Today!
Get in touch with us today by dialing 337-824-4455 or clicking an option in the list below to request free quotes any time:
