When you open a bar or tavern, you want it to be a busy, fun place where people can relax and enjoy a great drink. However, owning a bar means also accepting a higher risk level compared to other kinds of industries.
In today's blog post, learn about the top three liability risks every bar owner faces, and why quality Bar Insurance is a must-have. Also discover why partnering with an industry-leader like Aegis Insurance & Financial Services is a smart decision for protecting your business.
Liquor Liability Claims
If your business sells or serves alcohol, it automatically increases the risk of accidents and injuries, both on your property and after your customers leave. Incidents such as fights, drunk driving accidents, or alcohol poisoning can lead to severe legal repercussions for your bar.
Your bar or tavern could face out-of-pocket costs including:
- Court costs
- Attorney fees
- Judgements or settlements
Your Bar Insurance policy needs to include Liquor Liability coverage, which is crucial for bar owners. It covers costs related to claims of injury or damage caused by intoxicated customers. This coverage can save your business from the high costs of lawsuits regarding your liquor sales.
Slip and Fall Accidents
Bars often have dim lighting, crowded spaces, and wet floors, which creates a perfect storm for slip and fall accidents. Because of these conditions, your patrons face a higher risk of injury, usually because of spilled drinks or a poorly maintained floor.
As a result, your business may end up facing a costly liability claim from injured customers or guests. Quality Bar Insurance should include General Liability coverage to protect your bar from the financial impact of slip and fall claims.
With this coverage, your business gets the financial resources needed to cover an injured person's medical expenses, legal fees, and any settlements or judgments, allowing your bar to avoid severe financial strain.
Employee Issues
Your bar employees face unique risks compared to other industries, including harassment, wrongful termination, injuries, and workplace discrimination. Liability claims from impacted employees can lead to expensive, time-consuming lawsuits that may damage your bar's reputation.
With Bar Insurance that includes Employment Practices Liability Insurance (EPLI) and Workers' Compensation Insurance, your bar can be better protected from these types of liability claims. EPLI covers claims related to harassment, discrimination, and wrongful termination, while Workers' Compensation covers medical expenses and lost wages for employees injured on the job.
The Importance of Comprehensive Business Insurance
Having the right insurance coverage isn't just about compliance – it's about protecting your business and ensuring the longevity of your bar. Comprehensive Bar Insurance from THREE Insurance can safeguard your bar or lounge against many of the common liability risks for your industry.
THREE Insurance from Berkshire Hathaway is a groundbreaking kind of Business Insurance because it simplifies the insurance process for bar owners without sacrificing coverage or financial security. Your bar gets a broad range of insurance coverage through one streamlined, three-page policy, with no hidden surprises or confusing insurance jargon.
With THREE's Bar Insurance policy, you can fully focus on running a successful business without the constant worry of potential liability issues.
Contact Aegis Today to Learn More About THREE Bar Insurance
When you invest in robust Business Insurance coverage, you protect your bar, tavern, or lounge from the unexpected.
For more information on how to protect your bar with THREE's Bar Insurance, contact the Commercial Insurance team at Aegis Insurance & Financial Services. Our experts are here to help you navigate world of business insurance and find the best policy solutions for your industry needs.
Speak with an agent by calling our office at 713-850-7622 for more information, or fill out our online form to request a free, no-obligation quote today.