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Restaurateurs are feeling the bite of a hardening Property & Casualty insurance market.

For Property coverage, rates are largely a function of location and loss experience. Eateries located in Tier 1 wind zones and earthquake-prone regions not only will pay more—they will also have a tougher time acquiring coverage. 

Generally, Property rates in those areas are up 10 to 40 percent, says Greg Benefield, a Nashville, Tenn.-based senior vice president and the national Food and Beverage practice leader at Willis North America. But in the country’s interior, where weather is less severe, restaurants are renewing at rates that range from flat to 5 percent higher.

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