Bars, nightclubs, and taverns are often the go-to destinations for those who are looking to socialize, build relationships, or just have a drink. However, these places have an increased risk of liability hazards arising from untruly or over-served patrons and poor alcohol serving practices, facing expensive lawsuits and claims. This is where pubs and tavern insurance can come to your rescue, keeping you covered against these incidents. However, ensure you have the required coverages to stay protected against the common risk exposures of your liquor business. Otherwise, you may have to pay out of pocket for potential claims.
Common Exposures of Pubs and Taverns and the Coverages Required to Cover Them
- Liquor Liability Exposures
They can result from intoxicated patrons, serving alcohol to underage individuals, and noncompliance with applicable legislation.
Having liquor liability coverage in your insurance can reimburse for any bodily injuries and property damage caused by your patrons.
- Property Exposures
Damage or loss to your business property, including furniture, HVAC systems, signs, computers, inventory, and building, can be caused by employees, customers, natural disasters, fire, and third parties.
Adding property coverage to your tavern insurance can cover damage or loss to these items caused by a covered peril.
- Premises Liability Exposures
Your patrons or third parties can sustain bodily injuries and property damage because of an uneven surface, spilled drink, and intoxicated patrons.
This is where you should buy general liability coverage to cover medical bills, damage expenses of the victim, lawsuits, and related expenses if your business is sued for causing third-party injury and property damage.
- Equipment Breakdown Exposures
Equipment like dispensers, refrigerators, and cooking appliances is vital to your liquor business. Damage or repair to these may cause interruptions or temporary closures, impacting your income.
With equipment breakdown coverage, you can repair or replace the damaged equipment, so you can begin your operations quickly, thus mitigating income losses.
- Crime Exposures
Intruders, third parties, or even employees can steal your merchandise, supplies, cash, inventory, etc. However, crime coverage can help cover the lost or stolen funds, assets, and security devices, saving you from bearing a hefty financial loss.
- Product Liability Exposures
If your customer gets sick because of the drinks you served, you may be held liable for the resulting illnesses and will have to pay for their medical expenses and related lawsuits.
If you have product liability coverage in place, you can stay covered against such unfortunate financial mishaps.
- Assault and Battery Liability Exposures
If a fight breaks out at your bar or its premises, both your staff and customers can be physically or emotionally harmed, sustaining injuries and intentional troubles. In such circumstances, you will be held responsible for the losses they incur after such incidents.
Nevertheless, assault and battery coverage will cover you against the claims of mugging, physical conflicts, bar fight injuries, sexual harassment and assault, emotional trauma, and non-physical violence.
Covers Your Bars and Taverns with RMS Insurance
At RMS Insurance Brokerage, LLC, we offer customized bars and tavern insurance to cover you against a wide range of liabilities, so you can serve your customers with peace of mind. Contact our professionals today to find the right policy for your specific risk exposures.