Don't leave everything to chance; keep yourself protected with an insurance
Serving alcohol at a special event or owning a business that serves alcohol always involves an element of risk. Liquor liability insurance protects your company against loss or damages claimed as the result of patrons of your business becoming intoxicated and injuring themselves or others.
Liquor liability insurance helps protect a business that sells, serves, or distributes alcohol. This type of business insurance can help cover claims of bodily injury or property damage that an intoxicated person causes after a company served them alcohol.
If your business gets sued, liquor liability insurance helps cover your:
The types of businesses that typically need a liquor liability insurance policy include: bars, breweries, restaurants, liquor stores, convenience stores, wineries, grocery stores, and so on. Any business that sells alcohol, regardless of size, is exposed to liquor liability and could benefit from purchasing insurance. Sometimes, businesses are legally required to get this coverage before they will be given a liquor license or a commercial lease.
Third party property damage coverage
An intoxicated customer leaves your establishment and goes on to vandalize a building. Liquor liability insurance can pay for the damages and related legal expenses up to the amount of your policy’s limits.
Liquor liability insurance can cover the cost of repairing or replacing another person’s property that was damaged by an individual who became intoxicated at your business.
Third party bodily injury coverage
An intoxicated customer stumbles into another customer at your bar, who falls and breaks an arm. The injured customer sues to recoup money spent on medical bills. Your policy can cover the cost of your customer’s immediate medical expenses, such as the ambulance ride and emergency room visit. If a customer refuses your assistance and opts to sue at a later date, your policy can help cover the cost of legal fees.
If a patron who became intoxicated at your business injures another person, liquor liability insurance can help pay for immediate medical expenses or legal expenses if the injured person sues your business.
Increased cost of compliance coverage
An overserved patron can cause an accidental damage to his property or himself and file a lawsuit against you later.
If a lawsuit is filed over an incident related to an overserved patron, liquor liability insurance can help cover Court costs, Attorney’s fees and Settlements.
Libel and slander coverage (Not Covered)
Libel and slander can make your business liable for any sort of expenses or damages to a person mentally or physically.
For claims of libel and slander, general liability insurance can provide protection, as long as the policy doesn’t have an exemption for alcohol-related claims.
Underage drinking coverage (Not Covered)
Though incidents related to underage drinking cannot be protected against with insurance, you may have legal recourse if the minor had a realistic-looking fake ID.
It is always better to consult your insurance advisor and get an accurate coverage for the same.
Liquor liability insurance is important if your business is in a state with dram shop laws. These laws allow businesses to be held liable if they sell or serve alcohol to intoxicated individuals who cause an injury or damage property. Thirty states have dram shop laws in place.
Liquor liability insurance can be tailored to fit your business. A bar owner may wish to add assault and battery coverage to protect against claims that a bouncer injured a customer, or to secure coverage against employees drinking on the job. You can also secure coverage for specific incidents of violence, claims of mental damages, and more.
Different policies have different coverage limits, so you can choose an appropriate extent of coverage for your business. Talk to us to determine which coverage areas are most important for your business and to find a policy that provides appropriate protection
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
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