Having bar insurance protects your business from financial losses if you operate a pub, tavern, or nightclub. Serving alcohol comes with certain risks, such as fights that could lead to injury or property destruction. Here is more information about what bar insurance covers and how it protects your establishment:
General Liability
Your bar may be liable if a customer slips and injures themselves due to a wet floor. Bar insurance covers medical expenses, such as emergency room visits, doctor’s bills, and physical therapy. General liability coverage helps pay attorney fees, court costs, and settlements if the case goes to trial. Liability insurance may also protect against reputation damage, like libel and slander. This is useful if someone claims your business ads ruined their brand. With this coverage, you protect your establishment from financial losses and negative press in the event of a lawsuit.
Property Damage
Property insurance pays for repair and replacement costs if a fire breaks out in the kitchen or a storm damages your building. This means you can use the payment to fix and buy new furniture, inventory, and equipment damaged during a disaster or other incident. Other covered events include pipe bursts that cause water damage or theft from your bar. Property insurance shields your organization from using out-of-pocket funds to replace ruined items. You can also return to serving customers within a reasonable time because you can rebuild or buy new equipment without delays.
Employee Injuries
While on the job, an employee may slip and fall or receive burns or cuts, leaving them injured and with hospital bills. Bar insurance includes workers’ compensation, which pays for medical bills and costs related to an injury suffered at work. If your staff cannot work due to the injuries they sustained, this type of coverage replaces a percentage of their income. Once you purchase workers’ compensation, it may safeguard you from expensive lawsuit costs. In many states, workers’ compensation is a required policy to receive a liquor license.
Liquor Liability
In most states, bars must have liquor liability insurance to operate and serve alcohol. This coverage pays for medical costs and legal fees if an intoxicated person fights and injures others. Liquor insurance also covers the event of a patron becoming intoxicated at your establishment and damaging other people’s property. This may also cover damages from a DUI as well. It also reimburses different victims if the case goes to trial and your business is found liable for injuries or property damage. This bar coverage shields you from losing your license due to non-compliance. With adequate insurance, claims and incidents can be processed, preventing delays and conflicts that harm your business image. Some ways to avoid this are by training your staff to recognize when someone is inebriated and cutting someone off before they become too drunk.
Invest in Bar Insurance Today
When you purchase bar insurance, it comes with different policies that protect your establishment from being shut down or losing money. To buy a customized and comprehensive package, talk to an agent to assess your risks and needs. Call an experienced insurance company today to learn more about this type of insurance and what it covers.
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