Bar insurance protects your business against risks and liabilities like property damage and workplace injuries. It covers unexpected financial costs from theft, refrigerator malfunctions, and more, allowing you to focus on managing and growing your business. At Tabak Insurance, we provide customizable plans to cover your establishment. Here are several reasons to invest in insurance for bars:
Property Damage and Theft
A kitchen fire, burst pipe, or appliance malfunction can cause damage to your property, requiring you to pay for significant repairs or replacements. Property insurance for bars helps cover these types of damages. It accounts for the building, equipment, and inventory you need to operate your bar. Property insurance can also include theft coverage. This policy addition is beneficial if your bar experiences a midday robbery or a break-in after hours. It helps you replace stolen or damaged items, like your sound and lighting equipment or your stock of premium alcohol.
When choosing a property insurance plan for your bar, work with an experienced provider to determine a suitable amount of coverage. Our team at Tabak Insurance will help you assess the value of your building, equipment, and inventory, along with the incidence rate for crime in the area. These factors will help create a policy that protects your investments more fully if an incident occurs.
Employee Injuries
Employee accidents can happen while rushing around a busy bar, handling glassware, and working in tight spaces. Workers’ compensation insurance confirms that if an employee gets injured on the job, their medical expenses and lost wages are covered. This includes accidents like bartenders cutting themselves on broken glass or slipping on wet floors. Your insurance plan may account for medical bills, rehabilitation costs, and income replacement if the employee needs time off of work to rest. Workers’ compensation insurance protects your business and your employees. It also helps your business remain in compliance with laws that require businesses to carry workers’ compensation insurance.
Liquor Liability
Liquor liability insurance is a policy type that may be required for your bar by law. In some states, liquor laws mandate that bars obtain this coverage as part of their liquor licensing process. Without it, your bar may be subject to legal fines or penalties. Becoming insured protects you from losing your liquor license. Tabak Insurance will help you find the right liquor liability insurance coverage to safeguard your bar against intoxication claims. We can also add assault and battery liability insurance to protect your business if customers start a fight and get injured on your property.
Business Interruption
Business interruption insurance is designed to replace lost income if your bar closes temporarily due to a covered event. It may benefit your bar if you can no longer serve customers due to vandalism, equipment breakdowns, or natural disasters like storms and fires. This insurance coverage can also cover ongoing expenses like rent, utilities, and payroll. Business interruption insurance gives you time to recover from a crisis without rushing to reopen your bar before it’s ready. It also allows you to keep a trained team of employees on payroll for when you reopen.
Find Comprehensive Insurance for Bars
Comprehensive insurance for bars protects your business against alcohol-related incidents, property damage, and employee injuries. It helps you comply with local laws and minimizes financial losses during involuntary closures. At Tabak Insurance, we evaluate the unique aspects of your bar or pub to create a full-coverage policy. Contact us today to learn more about getting insured.
