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Bars require multiple types of insurance coverage in order to operate safely. Because of the potential risks that bars face on a daily basis, it can be difficult to determine what a bar insurance policy should include. As the owner of a bar, you need to keep not only your establishment safe, but also your workers, customers and property inside. If you are currently struggling to determine what you need in a bar insurance program, continue reading for a bar insurance policy checklist for optimal coverage.
Liquor Liability Insurance
One of the most crucial parts in a bar insurance policy is liquor liability insurance. This coverage protects bar owners. They do not have to pay for damage caused by customers with this insurance. Unfortunately, bar fights occur frequently at both small town bars and large nightclubs. When a bar fight occurs, more often than not an intoxicated customer either injures another customer or breaks a piece of property. Avoid getting blamed for the injuries and/or damages caused by situations by obtaining liquor liability insurance in your insurance policy.
Workers’ Compensation Insurance
Most bar owners also acquire workers’ compensation insurance. If you want to start franchising a business, it is a good idea to get this type of coverage. After all, you will likely start to hire more employees. A great way to attract candidates is to offer workers’ compensation. Most states actually require bar owners to obtain this type of coverage. It offers employees a form of protection should incidents occur that leave them injured. Workers’ compensation pays for medical fees for employees who endure injuries while at work. In addition, this type of insurance covers any lost wages for employees. Find out if your state requires you to get workers’ compensation insurance. If it does and/or you want to offer your employees this benefit, ensure that this type of coverage is in your bar insurance policy.
General Liability Insurance
Moreover, most bar owners agree to insurance programs that include general liability insurance. A major component of this coverage type that bar owners favor is fire damage coverage. Fires can occur in any type of building. However, buildings with stoves and other fire-bearing appliances may have higher risks. With that being said, bars that serve food on top of alcohol especially need general liability insurance. If you want coverage for the property that you rent out for your bar, you should also find a program that offers general liability insurance. This type of bar insurance enables owners to achieve optimal coverage.
Assault And Battery Coverage
Consider getting assault and battery coverage as well. Unfortunately, most general liability insurance programs and liquor liability policies do not include this type of coverage. Assault and battery insurance protects bar owners from dealing with pricey lawsuits. If a bar fight breaks out, it might be your first instinct to try to break up the fight. However, getting involved puts you in at risk of getting sued. The other parties involved can declare that you caused them injury. In turn, they can sue you for “expected or intended injury”. Eliminate this risk by including assault and battery coverage in your insurance policy checklist.
Garage-Keepers Liability Insurance
Finally, many bar owners need garage keepers liability insurance. The bar owners who need this type of coverage usually own high-end bars or night clubs. Some wine franchises also benefit from obtaining this type of coverage. After all, this program is only useful for bar owners who provide their customers with valet services. If you hire workers to drive and park your customers cars safely, you need this insurance for damage coverage. Then, you will not have to pay customers large sums when accidents occur during the valeting process. If this type of bar insurance coverage applies to you, find a policy that includes it.
Bar owners who want to run their businesses safely need proper insurance policies. Find a program that includes liquor liability insurance. Most states require bar owners to obtain workers’ compensation insurance. General liability insurance offers multiple types of coverage including fire damage. Obtain assault and battery coverage to protect you from getting sued for “expected or intended injury”. Lastly, get garage-keepers liability insurance if you offer a valet service. These are all crucial forms of coverage to include in your bar insurance policy checklist.
