If you are opening a new bar or you have had one for a while, you need to buy the right Bar Insurance Package of coverage to protect yourself from losses. Understanding these Bar Insurance Coverages will help you determine how much coverage you need as well as what types of coverage you want. Lets look at some of these bar insurance coverages in detail.
Bar Insurance – General Liability
The general liability coverage for a bar protects you from accidents you cause. Generally this covers slip and falls and can include liquor liability and assault and battery coverage. However, a good amount of bar insurance policies will exclude Liquor Liability and Assault and Battery but will then include them later on.
What is Liquor Liability and why do I need it? Depending on the laws in the state you are in, you can be more or less responsible for the drinking and what happens afterwards. Liquor Liability covers you when you are sued when a patron of the bar gets hurt or into an accident if the lawsuit alleges they were over served. Liquor Liability is probably one of the most important coverages any bar can purchase and every bar should have it.
What is Assault and Battery coverage? Assault and Battery coverage is Bar Insurance if there was an allegation that one of your employees assaulted a patron of the bar. This is another important coverage especially if your establishment has doormen or bouncers.
The General Liability, Liquor Liability, and the Assault and Battery is something that we recommend for any Bar Insurance package.
Bar Insurance – Property
The next most common Bar Insurance coverage would be property insurance. This would insure you for the building if you own it as well as any contents and improvements within it. Just do make sure you have an alarm system, this lets us add in theft coverage as well as deters would be robbers from breaking into your business.
Bar Insurance – Workers Compensation
If you have workers, you need Workers Compensation. Workers Comp covers you business if one of your employees was injured while on the job. Workers Compensation is also Employers Liability Insurance and insures your business if an employee sued you after they were injured. In many states you are required to carry workers compensation if you have any employees so do make sure you buy this Bar Insurance Coverage.
Bar Insurance – Other Coverages
While the General Liability, Property Insurance, and Workers Compensation are the most common Bar Insurance policies, there are other coverages you need to consider.
The first is an Umbrella. A Commercial Umbrella extends the liability coverages even more so you have extra coverage in the event of an incident that exhausted the policy limits. You will find that an umbrella can go over the General Liability, Liquor Liability, Auto Liability, and the Workers Compensation. A lot of policies will exclude Assault and Battery.
The next coverage you should consider is an Employment Practices Liability Insurance policy. This EPLI policy covers you for allegations of sexual harassment and discrimination. This type of Bar Insurance policy can also extend to your patrons as well, but it is more expensive to do so.
So, what kind of Bar’s can we insure? Any kind, we can write everything from the local tavern to the sports bar to the Nightclub — and we can even write Gentlemens Club’s. You will find that we can piece the coverage’s you select to give you a comprehensive Bar Insurance package to insure your business from loss. Do remember, the more you have means that you have more to lose. Make sure you do purchase the right amount of Bar Insurance to cover your business.
When looking to buy your Bar Insurance package, make sure you understand the coverages as much as possible and talk to an agent that understands them and can help you to understand them better.