Running a bar can be an exciting and profitable business venture. However, there are certain risks that you must understand in order to protect yourself and your investment. Consider these reasons why bar insurance is crucial to the success of your business.
Protection Against Claims
Victims of accidents, violence and other alcohol-related events may file claims against your bar in an attempt to hold you responsible for their personal losses. Examples include:
- Slips and falls
- Food poisoning
- Bodily injuries
Employees may also file claims for workplace misconduct or if they become victims of patron violence.
Protection From Losses
Claims cost money, and you may be charged legal fees even if you are not held responsible for a patron’s claim. Insurance can help reduce or eliminate the costs associated with claims so that your business does not suffer.
Protection of Your Property
Insurance helps protect your property from damage and theft. If your property is affected during a dispute between patrons, you can avoid repair and replacement fees and get your bar back up and running quickly.
What Protection Do I Need?
For full protection, your bar insurance program should include general liability, liquor liability, assault and battery and product liability. If you offer additional entertainment or services, such as valet parking, check with your insurance agent to make sure your entire operation is covered.