Owning or managing a bar comes with opportunity and responsibility. From managing crowds to serving alcoholic beverages, you will need to complete various tasks. The right insurance coverage protects your business and keeps operations running smoothly when the unexpected happens. Bar insurance offers a proactive business strategy and safety net. At Tabak Insurance, we customize policies for bar owners, providing comprehensive protection that aligns with the daily activities of the business. Here’s what the right insurance can do for you:
Protect Your Physical Assets
A business needs protection for its assets, including furniture, glassware, high-end sound systems, and kitchen equipment. Property insurance will make sure that if any damage occurs, you are still able to protect the physical space and contents of the business. This includes events such as fire, theft, vandalism, or weather-related incidents. Some policies include equipment breakdown coverage, which is key when something like a beer tap or a POS system unexpectedly fails. Getting repairs or replacements quickly will help minimize downtime and avoid disruption to business operations.
Keep Business Operations Running
Bar insurance includes business interruption coverage, which helps recover lost income. This might involve covering temporary closures due to an event like poor weather conditions. You will still need to address ongoing expenses like payroll, rent, or vendor contracts. Business interruption insurance helps make sure that the cash flow doesn’t stop even if the doors are closed.
Provide for Employee Protection
Workers’ compensation insurance will cover medical costs or lost wages if you have a team working behind the bar, kitchen, or on the floor. If an employee is injured while performing job duties, this coverage protects both your staff and business. Whether they experience a kitchen burn or a slip on a wet floor, both parties are protected under this policy.
Other insurance packages can include employment practices liability insurance (EPLI). This offers protection against claims of wrongful termination, discrimination, or harassment. In the service industry, EPLI may provide valuable protection for risk management.
Customize Coverage for Operations
Each business is unique, whether it’s a small neighborhood pub, a bustling nightclub, or a trendy cocktail lounge with live entertainment. Some bars serve food, some partner with food trucks, and others offer catering. Your insurance should be customized to match your specific operations.
Tabak Insurance covers a wide range of hospitality businesses, including restaurants, food trucks, and catering companies. If your bar also provides these services, a policy can be structured to reflect your scope of work. This approach will make sure you’re not over- or underinsured and that all parts of the business are protected.
Use Tabak Insurance for Bar Insurance
Working with a provider that understands the hospitality industry is key when insuring a bar. Here at Tabak Insurance, we specialize in coverage for bars and related businesses, offering insight into the unique risks and needs of the sector. Our team will guide you through what coverage you need, explain how different policies work, and make recommendations based on your business model and goals. Contact our team today to learn more about which policies you need and how they will serve your business.
