Owning a bar can be a profitable venture, but it also entails inherent risks related to serving alcohol. Tabak Insurance offers customizable policies to address risks unique to your establishment and protect you from potential issues. Having the right bar insurance also allows you to work through any setbacks and protects you from loss of income. Here are a few things every owner should know about bar insurance:
Choosing the Right Bar Insurance
While having standard coverage covers more universal risks, like fire and theft, customized bar insurance covers incidents that may stem from alcohol consumption. Customized bar insurance includes:
- General Liability
- Liquor Liability
- Property Insurance
- Workers’ Compensation
All of these policies can be customized to better suit your establishment, and they all protect against different things. General liability covers incidents such as slips and falls caused by a spilled drink, while workers’ compensation covers employees’ lost wages due to injury. It also pays for medical expenses. Property insurance covers damage to your building and business property caused by covered perils such as fire, storms, theft, or vandalism. Liquor liability may be required in different states due to dram shop laws, and covers incidents resulting from overserving alcohol.
Identifying Your Coverage Needs
Choosing which insurance to get depends on several factors, such as location and the activities available at the establishment. A small corner pub has different needs than a crowded urban nightclub. One has a more relaxed setup, while the other has a dance floor with large groups of people. If you host live events, music, or serve food, Tabak Insurance offers additional coverage to protect you against potential incidents.
Hosting events, like DJs, or serving a full menu typically requires additional coverage. Insurance could be expanded to protect equipment, performers, and customers from food poisoning caused by undercooked food. Tabak Insurance offers tailored options for incidents like this, making sure you’re covered against a wide variety of risks.
Managing Risks in Your Bar
By training your staff and understanding your business model, you can better manage the risks associated with running a bar. Train staff to serve the proper amount of alcohol in each drink so customers don’t get overserved. They should also be trained to identify patrons who may be overintoxicated and to cut them off. This could help prevent fights or other serious incidents caused by alcohol. You can improve bar safety by having good lighting, particularly around entrances, and by using non-slip rugs and security cameras. This helps customers more easily see where they are going and also acts as a potential crime deterrent. Be sure to keep accurate incident logs and file any necessary claims immediately.
Sign up for bar Insurance Today
The right insurance policies protect your business from risks and potential issues. Tabak Insurance customizes your policy to reflect the diverse needs of your business, taking into account various factors. These include location, type of establishment, and activities or entertainment that take place there. Reach out today to obtain the proper coverage and protect the future of your bar.
