Whether you are opening a bar, restaurant or another establishment that routinely serves alcohol to patrons, it is important to purchase the proper liquor insurance. While there are many risks involved with these types of businesses in general, adding alcohol as a factor can often create more and greater risks. As you look for the right policy for your business, it is important to look for several things.
Assault and Battery
One of the added risks when you serve alcohol is the risk of fights breaking out. When a fight breaks out, people are likely to get hurt and property damaged. In many cases, this assault and battery coverage may be included under your other liquor-related insurance.
Defense Costs
It doesn’t matter if the charges are frivolous or appropriate, you may find yourself sued and having to defend yourself in court. A good insurance policy will pay for your defense costs, especially with frivolous lawsuits, to ensure your business doesn’t have to come up with the money.
Employee Coverage
Not all liquor insurance covers your employees’ drinking. However, you want to make sure yours does. Even if you have a policy that your employees are not to drink on the job, many often do. This means you need to protect yourself by making sure your employees are covered.
Mental Damages
Some insurance policies will only cover the physical damages and injuries a person sustains in your place of business. However, there are mental damages that can occur as well. This is why it is so important to make sure your liquor insurance covers mental damages as well.
Reduced Premiums
The premiums for this type of insurance can often be high because of the higher risks of filing a claim. However, if you can find a company that offers a discount based on training you complete or a specific period of no claims, you will save your company even more money.
Serving alcohol to the public brings with it a vast array of responsibilities. One of those responsibilities is to ensure you have the right liquor insurance to protect your business, as well as your patrons and employees. Knowing what to look for when you are shopping for this type of insurance will help you choose the best company and policy so your business will survive and have all the coverage it needs if the unthinkable happens.
To learn more about everything you need to look for when you are shopping for a liquor insurance policy, visit RSI-Insurance.com.
