Tavern and bar owners understand the importance of a comprehensive insurance plan. After all, the list of potential claims is worrisome: liquor liability, robbery, altercations with patrons, fire, employment disputes, and premises liability. To help better protect your business, here are some tavern insurance tips to consider when shopping for bar and tavern insurance.
Do Not Skimp on Property Coverage
For a tavern owner, property insurance is generally the least expensive line of coverage. Despite that, we often see taverns that are dramatically underinsured for tenant improvements, loss of income, and other business property. We understand that devastating property claims are rare – such as a large fire in your tavern – but they do happen and good property insurance can make sure you rebuild quickly. Increasing your property insurance coverage might cost much less than you think. Talk to your agent about quotes for higher coverage limits.
Every Tavern Needs Liquor Liability
Even in states such as Nevada that have favorable liquor liability or dram shop laws, we always recommend you purchase liquor liability coverage. Intoxicated patrons can injure themselves or others and, despite statutory protections, you may be asked to pay medical bills or threatened with litigation. Liquor liability coverage pays for defense costs, settlements, and judgments.
Consider Employment Practices Liability
Employment related disputes are on the rise. Your business is nearly as likely to face employment related litigation or an EEOC complaint as a property or liability loss. Employment practices liability insurance is the solution and provides for defense and settlement cost for a wide variety of allegations, including:
- Retaliation claims
- Racial discrimination in hiring, firing, or promotions
- Wrongful termination and employment contract disputes
- Age, gender, religion, and sexual orientation discrimination
- 3rd party claims
Employment practices liability insurance is surprisingly affordable and simple to quote.
Resource: Hiscox Guide to Employment Related Disputes
Related: Bar & Tavern Insurance Quotes
Get a Tavern Insurance Quote
The team of professional agents at Safeguard Insurance has worked with tavern owners large and small for nearly 20 years. Contact us today for a no-obligation policy review and insurance quote.
Safeguard Insurance is licensed to provide tavern insurance quotes in Nevada, California, Utah, Arizona, Idaho, Oregon, Washington, and New Mexico.