Pubs and taverns are high-risk assets. You’re placing alcohol in an environment with a lot of people. There’s a strong chance that something could go wrong. While you may prioritize maximizing profits, neglecting potential liability risks until it’s too late may lead to serious financial consequences.
Here’s a look at some of the most significant liability risks that pubs and tavern owners should research.
DUIs
DUI liability lawsuits are the worst nightmare for many pubs and tavern owners. It’s important to stay aware of your patron’s alcohol intake. It’s recommended that you stop serving alcohol to a patron that is showing clear signs of intoxication. Your business will be held liable if you serve a patron too much alcohol and they eventually injure someone. Thousands of auto accidents occur every year as a result of someone driving under the influence. Liquor liability insurance is designed to protect you in this situation by lowering your legal fees and assisting with the injured party’s medical treatment.
Lack of Exit
Some bar owners have been sued because their exit sign wasn’t working or the exit was being blocked, creating a hazard. It’s recommended that you perform regular maintenance to prevent potential safety hazards from forming. A patron may sue you for negligence if they suffer an injury, and you’ll be on the hook for potentially thousands of dollars worth of medical bills.
Underage Drinking
Underage drinking is one of the most serious liability risks pubs, and tavern owners need to be aware of it. Serving alcohol to minors will likely cause your liquor license to be revoked, and you may be forced to close your business. It’s very important that you monitor fake IDs on a regular basis. Some minors use fake IDs that are hard to detect. It’s recommended that you purchase an ID scanner if you have the financial resources. An ID scanner will help you catch fake IDs without any complications. Remember that you’ll also be on the hook if an underage drinker gets intoxicated and causes problems.
Common Hazards
While pubs and tavern owners may have safety measures in place, an unexpected incident could still occur. Perhaps one of your patrons sustains an injury while they are enjoying entertainment. Things could become complicated. While some liability policies cover these types of injuries, other policies exclude them. It’s recommended that you inform your insurer about any property that could act as a unique hazard. This allows your insurer to amend your policy. There’s also a chance that you’ll be able to pay an extra premium to have the situation covered in your policy as an endorsement. Look over your policy carefully to learn about potential exclusions.
Cover Your Bar Against Potential Risks with RMS Insurance Brokerage
While accidents are likely to occur at some point, learning about the most significant risks your tavern faces will allow you to find the appropriate coverage. Contact the team here at RMS Insurance Brokerage so we can assist you.