- When you own a bar, there are lots of different things that can go wrong. From buzzed patrons who insist on starting a fight, leading to property damage and injuries, to employees with sticky fingers who may try to rob you blind, the risks of running a bar are numerous and very real.
- That’s why it’s so important that you take the necessary steps to protect your business by making the smart investment in bar insurance.
- What is bar insurance? While there are many different types of bar insurance, all of them provide a special type of coverage to protect bars from various losses and damages.
- Bars, pubs, taverns, sports bars, wine bars, and other establishments that serve alcohol to patrons need to be insure, because all it takes is one incident and one lawsuit to bankrupt your bar and shut it down for good.
Bars Need More Than Just Standard Liability Coverage
- If you own a bar, your general liability insurance plan isn’t enough to truly protect you against the risks that come with your particular line of work.
- Your commercial liability insurance likely won’t cover you in the event that a patron of your bar gets intoxicated and hurts themselves or someone else.
- So if you don’t have additional insurance coverage for these special types of situations, you’ll end up on the wrong side of a costly lawsuit.
- For bar owners, liquor liability insurance is a must. Liquor liability insurance is a special type of insurance plan designed to protect your business against any losses or damages that occur as a result of a buzzed patron causing damage to themselves or other bystanders. This type of policy can typically be purchased as either an add-on to your commercial liability policy or as its own completely separate liability insurance policy.
- Investing in liquor liability insurance is absolutely essential for being protected against these costly, severe types of claims. Unfortunately, experts estimate that only 35% of bars and restaurants that need liquor liability insurance actually have it.
- While the coverage might come at a high premium, it’s an investment that is absolutely worth every penny. The last thing you want to do is skimp on coverage and put your bar in a position where it could get hit with a lawsuit that leaves it bankrupt.
- If you don’t have liquor liability insurance, speak to an experienced bar insurance agent immediately to explore your options and get the coverage you need to protect your business investment.
For more information, call us today at (832) 271-0790.