Hospitality businesses like restaurants, bars, and catering companies should purchase sufficient insurance to protect their operations in the case of an accident or emergency. Tabak Insurance offers general and specialized policies like liquor liability insurance to help businesses protect their finances and reputations. Here is more information about how liquor liability insurance protects your bar or restaurant:
Legal Fees
If an intoxicated customer is harmed or causes an accident inside or outside of a restaurant, they may seek legal action against the business that serves them. Accident victims harmed by intoxicated individuals may also hold your business responsible for the damages caused by overserved parties. Many states have dram shop laws that automatically give liability to businesses that serve alcohol to people whose actions cause harm to others. If someone files a claim or lawsuit against your business after an alcohol-related incident, liquor liability insurance helps cover lawyer fees and court expenses. Some legal processes may take longer than expected, resulting in more charges than businesses have budgeted for. Customized insurance policies cover these additional expenses to protect your business from losing funds that could lead to operational interruptions.
Medical Bills
Liquor liability policies give injured employees funds to cover missed wages and medical bills accrued due to alcohol-related injuries. This includes past, present, and future expenses. It can also include intoxicated customers that may cause bodily harm to employees and other customers in your business. These injuries might occur outside your business, on public or private property. The insurance will help cover the medical bills of customers and other affected parties. This helps victims avoid financial burdens and allows liable businesses to repay damages as quickly as possible. Businesses with this coverage show that they support their employees and customers while protecting their reputations as accountable organizations.
Property Damage
In cases where intoxicated customers cause property damage to your business or other private or public property, liquor liability coverage provides financial assistance for repairs. This covers damaged vehicles, buildings, decor, furnishings, and more. Having sufficient insurance coverage protects businesses from operational delays and revenue loss caused by expensive structural repairs or equipment replacements. It also protects business owners from paying for others’ property damage using their own resources. At Tabak Insurance, we will assess your business’s level of risk to determine how much liquor liability coverage is appropriate. This allows us to create a policy that meets your needs and has an affordable deductible.
Settlement Payouts
Parties involved in liquor-related incidents may be able to avoid complex legal proceedings by accepting a settlement payout. Settlements are completed when victims and responsible parties agree to a direct payment instead of taking the claim to court. Businesses without liquor liability coverage have to pay defendants directly, while those with sufficient coverage pay the defendant through their insurer. While a one-time payment to the victim simplifies the damage repayment process, it may be costly for uninsured businesses. This is especially true for businesses that have sustained damage from the same incident. Some states require businesses that sell or serve alcohol to hold liquor liability insurance to protect owners and customers from excessive financial burdens.
Find Liquor Liability Insurance
Tabak Insurance provides coverage for bars, restaurants, nightclubs, food trucks, and catering businesses. We offer individual liquor liability policies and customizable packages, including coverage for general liability, errors and omissions, and more. Our team meets directly with insurance adjusters on your behalf to confirm that each claim is filed correctly. This helps your business receive the financial help it deserves and protects the rights of employees and customers who have been affected by intoxicated individuals. Contact our team today to learn more about purchasing liquor liability coverage.
