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Business Personal Bonds Benefits

Bar glassesWhen running an establishment that sells liquor, there are a lot of legal and business-related issues to keep in mind. One that many business owners overlook or forget about is purchasing proper insurance. In order to keep your business, employees, and patrons properly protected in a place that serves alcohol, you’re going to need to consider some atypical issues when thinking about insurance policies. Read below to find four things you’ll want to keep in mind when purchasing insurance for your business.

1. Get Liquor Liability Insurance

If you are running an establishment that serves liquor, you’re going to want to purchase liquor liability insurance. Serving alcohol opens your business up to a liability claim if someone who has consumed liquor causes injuries or damage. Keep in mind that bar owners may be liable if drunk patrons injure someone or damage property after leaving the bar--for example, in a car accident on the way home. Thus, by purchasing liquor liability insurance, you are protecting your business from legal costs, court costs, civil or criminal damages, and more. Most states requires this type of coverage, which you can purchase as a standalone policy or grouped with a general liability policy.

2. Get a Good Property Insurance Policy

It’s always a great idea to insure your property, and this holds true for any establishment that serves alcohol. Accidents and disasters are prone to happen at a place that serves liquor, especially since these establishments are often dark inside and open late at night. Thus, an insurance policy that covers the physical structure of the bar and the things inside it can protect you from having to pay for property loss in case of damage. You might also want to consider getting a policy that is more extensive than the average property insurance. Look for a policy that covers things like food spoilage, drain backup, equipment malfunction, outdoor signage, wall art and décor, and more.

3. Consider Getting Theft Insurance

Theft insurance for bars covers your business in case it is robbed, burglarized, or looted. Bars are often known to hold large amounts of cash inside the registers; thus, they are a common target for thieves. If your bar handles or stores large amounts of money, you should consider purchasing a theft insurance policy. This will protect your business in case a large amount of money or property goes missing. Some theft insurance policies are more extensive than others. If you want to make sure you get a policy covers everything, check that yours includes coverage for employee theft and armed robbery.

4. Consider Getting Assault and Battery Coverage

Assault and battery is defined as harmful or offensive contact between two or more persons. This type of incident is much more likely to happen at an establishment that sells liquor, since patrons who are drinking alcohol are more prone to becoming aggressive or engaging in a fight. Keep in mind that many general policies purposely exclude assault and battery coverage. You might need this type of insurance if two patrons get in a fight or a patron fights with a staff member, or even if a staff member has to forcibly remove a patron from the premises. When you purchase an assault and battery plan, the insurance covers the cost of damage done to your bar in a fight, medical expenses for patrons injured at your bar, and the legal costs to defend yourself in a lawsuit. 

If you need more information on Maryland business insurance for establishments that sell alcohol, contact one of our experts at 410-312-7800.

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Columbia, MD 21046

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