Restaurant not opening for another 2 months should get full Ins?

[kostya]

Hello i have a client in the restaurant industry, the restaurant still under renovation and wont be open for business for another good 2-3 month, should i offer him just the Commercial Property and GL for now?
or should i go ahead and do the whole thing with spoilage, BPP, Liquor liability, Payroll, BI/EE, and BOP.?? I'm still learning this awesome insurance industry.

Advice will be appreciated.

 

[fed up]

Guess it would depend on things such as: Does he have inventory, when does food and liquor inventory hit the facility, is there anyone on payroll yet, are any interviews being held on site?

 

[kostya]

At this point no food or liquor is in the inventory, and no one on payroll, no interviews held on site.
I'm just not sure if it is a good idea to wait until it is closer to opening to be getting the full insurance quote when something between now and then can happen to the property.

 

[Allen Trent]

At this point no food or liquor is in the inventory, and no one on payroll, no interviews held on site.
I'm just not sure if it is a good idea to wait until it is closer to opening to be getting the full insurance quote when something between now and then can happen to the property.

will the property & liability carrier short rate a policy he cancels in less than 3 months if he is proceeding to a BOP with endorsements in 2-3 months?

Will BOP include protection like non-owned auto or hired auto in the meantime if his vehicle or a employee/volunteer is driving to get supplies, run errands, etc. Sign coverage? Newly Acquired inventory/supplies/Equipment covered while in transit or being delivered?

I would likely write the best coverage now, start with higher deductible & low inventory valuations & then gradually improve those as he opens/expands.

So many embedded coverages in a BOP compared to just Property & Liability.

 

[kostya]

@Allen Trent thank you for the advice, i think i will go for the best policy right now to insure he is covered now and then build on that. thank you

 

[adjusterjack]

Hello i have a client in the restaurant industry, the restaurant still under renovation and wont be open for business for another good 2-3 month, should i offer him just the Commercial Property and GL for now?

Offer him?

The restaurant is under renovation, present tense. He should already have insurance. Doesn't he?