Having an alcohol insurance policy for your business can help protect your professional image and reputation. Tabak Insurance offers insurance policies for restaurants, bars, event venues, and other food services. Here is what to know when choosing liquor liability insurance for your business:
Type of Business
Knowing the requirements for the type of business you own can help you determine whether you require liquor liability insurance. Liquor insurance is beneficial for hospitality or retail businesses that manufacture, sell, or serve alcohol; this includes restaurants and nightclubs. Liquor insurance may also be required if your catering business or event venue serves alcoholic beverages, or if your bar offers beverage services for private events.
State Dram Shop Laws
Check the dram shop laws and local regulations in the state where your business operates. If a bartender serves an intoxicated individual alcohol, dram laws may hold the company liable for the actions of the person; this allows the business to be named in a lawsuit. Having a liquor liability policy in place can help protect you from injury claims and cover medical bills for injured parties, court judgments, and legal fees.
Some local laws require your business to purchase a liquor liability policy before receiving a license; complying with local regulations allows you to safely operate your business. This helps protect your business from having to pay fines or losing its license as a consequence of non-compliance. Tabak Insurance helps you insure your business within 24 hours; this enables you to apply for a license and become operational more quickly.
Insurance Coverage
Liquor liability, general liability, and commercial property insurance offer different coverages for your business. General liability and commercial property insurance protect your business if damages occur on or to your property. This includes slip and fall accidents, theft of equipment, foodborne illnesses, and disasters such as floods or fires. Liquor liability policies specifically address harm caused by intoxicated individuals served at the establishment. Since businesses can be held responsible for the damages these individuals cause after they leave the premises, liquor liability also includes protection for damages or issues that occur off your property, such as:
- Drunk driving accidents
- Physical altercations or assault
- Sexual harassment
- Property damage to another venue
Possible damages may include injuries that the individual sustains after becoming intoxicated. Liquor liability is available as a standalone policy, and your insurer is able to add liquor insurance as part of a bar or restaurant policy. These include general liability insurance, property insurance, and workers’ compensation insurance, which offers your company comprehensive protection. Tabak Insurance can analyze your current business needs and tailor policies to address them.
Learn More About Liquor Liability Insurance
Having liquor liability insurance helps protect your bar’s or restaurant’s income and assets; this enables your company to continue to operate. Tabak Insurance offers errors and omissions insurance, business owner’s policy insurance, and directors and officers liability insurance. We can also insure food trucks. Contact us to learn more about liquor liability insurance and to receive a quote.
