Bar insurance is beneficial for many reasons, and the coverage you need depends on various factors. Tabak Insurance is available to answer your questions and help you determine the right amount of coverage for your bar. Here are some variables that can affect how much coverage your bar may need:
What Type of Service You Offer
The type of service you offer your patrons should be factored into your plan options. If you serve food as well as drinks, your coverage will likely need to be higher to protect the additional products you have. For bars offering holiday promotions or special entertainment events, coverage may need to be increased or shifted for further protection during those events. Some bars may provide standard entertainment activities such as a mechanical bull or karaoke night. These activities may require some added security measures as well as insurance coverage.
Employee Factors
Deciding on coverage amounts for bar insurance will also require assessing your employees. At Tabak Insurance, we will explore how many employees you have, your employees’ experience, and whether you perform background checks. Your management team will also be included in this evaluation to help understand how monitored your team is. They will be key factors in determining the right amount of bar insurance coverage.
Average Patrons and Clientele
Your average clientele may affect the coverage. The location of your bar should be discussed with our agents because it affects who is regularly on your premises. Patrons typically vary if a bar is close to a college campus versus in a family neighborhood or older community. This is also true for bars in a large city versus a small town. Our agents can gather information about your typical customers to help you decide on the best plan.
Current Security Systems
If your bar has a quality security system, this can minimize your liability and possibly reduce the amount of bar insurance coverage you may need. Security guards can also add to your bar’s overall security. This also means you may need additional coverage for employees in higher-risk job functions. Security implementation is a variable factor for many bars and can change based on seasons or events, which makes a knowledgeable insurance agent a helpful tool to guide your decision.
Property Type and Setting
The property type in which your bar is located should be discussed with our agents. Large businesses with extensive square footage and consistent patrons each night will need coverage. This can vary from a mom-and-pop bar with a consistent set of loyal regulars to a sports bar. It will also vary if you’re located inside a commercial building with other stores or restaurants close by rather than a smaller building set away from busy streets. Applicable insurance coverage also depends on whether you own the space or are renting from a landlord or management company.
Your Coverage Options
After these factors have been discussed with our expert agents, we can help you decide what type of coverage your business requires that can also match your budget. Coverage options for your bar include general liability insurance, liquor liability insurance, workers’ compensation insurance, and property insurance. General liability insurance protects you from typical business operation risks, such as employee accidents and equipment damages. Liquor liability insurance is required in many states for businesses that serve alcohol and covers injury or damage claims directly related to alcohol. Workers’ compensation is generally required by law and is necessary for bars where cuts, burns, and falls may occur. Property insurance is applicable for building, inventory, and equipment protection and compensates for situations such as theft or equipment malfunctions. Some bars may need a single plan, whereas others may require a combination of plans to be fully protected.
Get Bar Insurance From Tabak Insurance
Tabak Insurance understands that each bar, restaurant, and shop is unique and may require a different insurance plan set up. Our agents can discuss policy options with you to make sure you get an applicable package for your particular business. We are also available to discuss and implement plan revisions as your establishment grows and shifts over the years. Contact us with your questions to create a plan conducive to your needs.
