Bars and nightclubs are the most common places for entertainment. As a bar or nightclub owner, you know what works for your customers. You deal with all kinds of people, with many coming in for drinks and have a good time.
While bars and nightclubs are places of entertainment, you cannot predict what will happen. When things get out of hand, the damage is inevitable. Be it broken tables or damaged chairs; you will count lots of losses. With the significant risk associated with bars and nightclubs, it is a good idea to have bar insurance.
Pub business insurance is very important for your operations as a business owner. To help understand the importance of this insurance, we shall discuss its policies and what it covers. We shall also mention its cost and the top insurance companies you can get it.
Bar and Nightclub Liability Insurance
Bars, nightclubs, and taverns have more to worry about than the demand for foods and beverages. These locations are prone to slip and fall accidents, and as a bar operator, it could cost you a lot of money. Furthermore, you cannot rule out fights between your security personnel and rowdy customers that often result in serious injuries. In such cases, you could face battery and assault claims. Bars also have bull rides and other fun spots — the bull ride might have mechanical problems, tossing people around and causing deadly injuries.
Therefore, it is important to have bar and nightclub liability insurance. This insurance policy meets the specific needs of your bar, covering you from potentially costly claims. Getting reliable nightclub liability insurance will go a long way in safeguarding your business.
Generally, pub liability insurance protects any business that sells, manufactures, or serves alcohol against claims. These claims could come from your customers or employees, depending on the cause. It is important to note that insurance companies interpret this insurance policy differently. Some cover the on-site sale of liquor, while others are restricted to bars and nightclubs. Therefore, you should thoroughly analyze a company’s insurance policy before purchasing it. You also need to know the risks it covers and its policy details. This will help you get the best bar liability insurance.
Bar and Nightclub Insurance Cost
Bar insurance cost depends on the unique risks your bar faces, the policies you choose, and your business equipment’s value. The cost estimates of this insurance policy are sources from various companies to find the average cost. The average cost of pub insurance is around $180 per month, depending on the policy you choose. You can also choose to pay for the policy annually. Either way, you need to find a reliable insurance cover tailored to your bar’s needs.
El Dorado Insurance
El Dorado Insurance has been in operation for over 50 years. This company has earned its reputation as a trusted and affordable insurer for entertainment joints. With its outstanding network of commercial insurers, you will get dependable bar insurance.
El Dorado Policy Details
El Dorado has tailored insurance packages that are unique for bars and restaurants. Their insurance policy covers a wide range of risks, protecting you against several claims. The company also offers affordable insurance cover for multiple-bar owners.
Pros
- Offers tailored cover
- It is affordable
- Ideal for multiple-bar owners
Cons
- Responding to claims can be slow
Average cost: $165
Best for: Tailored and comprehensive insurance cover.
Greenwood Insurance Group
This insurance company was established in 1993. It provides a wide range of unparalleled services, making it a unique insurance option. Greenwood Insurance has uniquely adapted to the changing needs of bars and nightclubs, providing reliable covers that protect you against different claims.
Greenwood Policy Details
Greenwood offers comprehensive insurance cover. Their policy covers sensitive area like property damage, assault, battery, and slip falls. You can also access their reliable bar owner insurance.
Pros
- Robust insurance policy
- Quick claim responsiveness
- Affordable
Cons
- Not accessible in some countries
Average cost: $160
Best for: Start-up bar operators
Insurance Required for Bars
As a bar owner, you need comprehensive insurance that covers the following policies;
General Liability Insurance
This is an insurance policy that protects your bar business from all the risks it encounters. It covers the damages caused by your employees, your equipment, or yourself. For instance, when drinks spill to the floor and cause slip and fall accidents, this policy will cover it. It is important to note that the effectiveness of general liability insurance depends on your insurance company and policies. Some policies could omit vital risks that occur regularly. This is why you should go for a comprehensive insurance cover that includes common risks and claims.
Liquor Liability Insurance
This is an important policy in insurance for bars and nightclubs. Keep in mind that some states have liquor laws requiring bars and nightclubs to have this insurance policy. Liquor liability insurance covers any business that sells or trades in alcohol. The laws governing liquor intoxication also vary from state to state. Some state laws could hold your business liable for selling alcohol to a person who gets intoxicated and then harm themselves or others. This insurance policy also covers injury claims caused by intoxication. Some bar insurance policies also cover battery and assault liability, protecting your business against such claims.
Property Insurance
This is another important insurance policy. Your equipment, building, and business inventory need protection. With a property insurance cover, all these crucial factors are protected. You can also customize a property insurance policy to cover specific bar property. For instance, you can get an insurance policy protecting against theft of property or property damage. The damage could either be mechanical or caused by fires.
Workers Compensation Insurance
If you have servers, bartenders, or other employees, you will need workers’ compensation insurance. This policy is vital, especially in the bar industry, where burns, cuts, and falls are rampant. Worker’s compensation insurance covers the medical expenses of your employees should they sustain injuries at work.
1 Comment
This is interesting and although not going to do it but good to know the cost.