Insurance for bars can minimize the financial impacts of accidents, bar brawls, or injuries sustained on your premises. Tabak Insurance can offer the right insurance to protect your business from potential failure resulting from insurable risks. Here are some of our coverage options for bars:
Liquor Liability Insurance
This coverage is necessary for any establishment that serves alcohol, especially those located in states with dram shop laws. A dram shop law is a statute that holds an alcohol-serving establishment liable for intoxicated customers’ harmful behavior. Without insurance, you’d have to pay for the costs of the harmful acts out of pocket. This can affect your bottom line.
Liquor liability insurance can cover bodily injury or third-party property damage claims resulting from your patrons’ behavior. The policy can pay medical expenses for injured parties and cover legal fees and settlement payouts.
Tabak Insurance can recommend the most suitable liquor liability insurance policy after assessing your business and its risk exposure. Proper business evaluation is key to finding a policy that will provide complete coverage if an insured risk occurs. Our liquor liability policies are fairly priced to help reduce business expenses. Our agents have saved clients roughly 20% on their premiums over the past few years.
General Liability Insurance
General liability coverage can protect you and your business by paying for legal expenses in case of a lawsuit by third parties. This insurance is a must-have as it can eliminate the need for you to use your bar’s revenue to settle claims. Here are some of the claims a general liability policy can cover:
- Property damage: The policy can protect your bar if you or your employees damage a third party’s belongings.
- Advertising liability: This can protect you if you’re liable for misleading or false advertising. The policy can also step in if another establishment sues you for copyright infringement.
- Bodily harm: It can protect you if clients suffer injury from your products and services.
- Medical expenses: The policy can cover costs third parties incur seeking treatment for injuries sustained at your bar.
Tabak Insurance has over 25 years of experience in the hospitality industry. We can use our experience to determine the risks your bar will most likely face and tailor a comprehensive policy covering the risks. Our team can take you through your risk exposure after conducting a thorough business assessment to make sure we’re on the same page about your needs.
Commercial Property Insurance
Commercial property insurance can protect you from losses resulting from natural events like floods, vandalism, and equipment breakdown. Some insurers can reimburse you for payroll and operating expenses incurred when your bar is being repaired to reduce business interruption costs. This insurance can also cover inventory replacement costs and accidents as long as they don’t result from employee negligence.
After evaluating your business, our staff can advise you on whether to invest in open perils or named perils policy. An open perils policy can cover all events affecting your commercial property, provided they’re not explicitly excluded. A named perils policy only covers events specifically mentioned in your contract. Our team only recommends policies after a thorough business review to give our clients optimal coverage.
Workers’ Compensation Insurance
Workers’ compensation insurance can offer coverage if employees sustain injuries when conducting work-related duties. These can be anything from back injuries from lifting beer kegs to slips and falls resulting from spilled drinks.
Workers’ compensation insurance can cover employees’ medical expenses to reduce their financial burden. The insurance can also make disability payments to cover lost wages for the period they can’t work.
Tabak Insurance can recommend the best policy based on your state’s laws and business operations. This can protect you from the legal repercussions of failing to invest in adequate workers’ compensation insurance.
Business Owner’s Policy (BOP)
A business owner’s policy is a bundled policy that can comprise general liability insurance, business interruption insurance, and commercial property insurance. You may save money by buying a BOP, as some insurers offer the policy at lower rates.
Tabak Insurance can create a customized BOP that meets your bar’s needs and budget to provide optimal coverage at an affordable cost. You can rely on us as we base our recommendations on our client’s needs and our extensive experience in the hospitality industry.
Find Insurance for Bars Today
Insurance coverage like general liability insurance, liquor liability insurance, and workers’ compensation insurance can minimize the financial impacts of lawsuits on your business. Such policies can cover medical costs, legal fees, and settlements if individuals are injured, or their property is damaged on your premises.
Tabak Insurance can help you stay in business by providing coverage for the risks your bar faces. We can review your business and get back to you with the most suitable policies. Contact our dedicated team to protect your bar today.