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.
Operating a bar, tavern or nightclub can be a lot of fun, but something that is not so fun is when you are facing a lawsuit. Bars are susceptible to numerous types of legal actions, which is why it is extremely vital to have bar and tavern insurance so that you are protected against anything that comes your way.
Protection from Serving to a Minor or Overly Intoxicated Person
You should have preventive measures in place to stop this kind of thing from happening. A strict I.D. check should be enforced, and you should train your servers in how to recognize when someone has had too much. However, certain insurance policies limit your liability in these scenarios.
Protection from Falls and Slips
Certain establishments are prone to slippery floors, and actions should be taken to prevent slips from occurring in the first place. A written policy can help immensely when dealing with a fall and facing a possible lawsuit.
Protection Against Assault and Battery
If your business serves alcohol and is open late, then there is a good chance some unsavory characters will come in. A minor altercation can lead to some big problems for your bar or restaurant, so get coverage that protects you.
Hopefully, none of these issues will occur in your business, and everyone will continue to have a good time. However, it is better to have bar and tavern insurance and never need it than to need it and not have it.
At the end of a long day, some people prefer nothing more than to head to their local bar and spend the evening drinking and unwinding. Though bars and taverns promote a relaxing atmosphere for their patrons, they are still prone to hazards and injuries. For this reason, these establishments require bar and tavern insurance in order to secure protection from damaging liability clams.
How Insurance Protects Bars and Taverns
A bar is vulnerable to liability claims in several ways. Customers, especially ones who have ingested too much alcohol, may injure themselves and choose to file a claim against the establishment. If an individual succumbs to food poisoning, the bar could also be held liable. An endless number of situations could lead to a claim and eventually a lawsuit. When bar owners acquire insurance, they protect their businesses from financially draining lawsuits.
Types of Coverage
Bar and tavern insurance includes several types of protection, including:
- General liability insurance
- Assault and battery insurance
- Liquor liability insurance
Each of these forms of coverage is essential for bar owners to have for their business. Insurance agencies work with owners to craft policies that provide their establishments with the most steadfast form of financial protection.
Bars are adept at providing people with a fun, relaxing experience, but they are still locations where accidents and injuries can occur. Bar owners can keep their establishments safe from liability claims by securing bar and tavern insurance.