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Bar Insurance

Running a bar is an exciting venture, but it also comes with the responsibility of protecting your business. Bar insurance is a crucial part of that protection, but it’s often misunderstood.

Bar insurance is a type of business insurance that protects your bar from losses due to property damage, theft, accidents, and other risks. It’s designed to cover your business for a wide range of risks, from physical damage to your property to legal liabilities stemming from a customer’s injury on your premises.

Bar insurance typically comprises several different policies, including property insurance, general liability insurance, liquor liability insurance, workers’ compensation insurance, and more. Each policy covers different risks and can be customized to meet your bar’s needs.

Who Needs Bar Insurance?

Any bar or restaurant that serves alcohol is required by law to carry a certain amount of bar insurance. This includes pubs, taverns, clubs, etc. This is because the sale of alcoholic beverages carries with it unique risks that other businesses don’t face.

Even if you don’t serve alcohol, bar insurance is still a good idea. It’s important to have protection against risks like property damage and liability claims, which can be costly if not properly covered.

Types of Bar Insurance

Bar insurance typically consists of several different types of coverage. Common policies include property insurance, general liability insurance, liquor liability insurance, workers’ compensation insurance, and more.

Property insurance covers the physical structures of your bar, such as the building and any equipment or furnishings. It also covers any damage to your property caused by a covered event, like a fire or theft.

General liability insurance covers your bar against liability claims due to accidents on your premises. This includes claims of bodily injury or property damage caused by your bar’s operations.

Liquor liability insurance covers your bar against claims due to the sale of alcoholic beverages. This includes claims of bodily injury, property damage, or other losses due to the consumption of alcohol.

Workers’ compensation insurance covers your employees in case of injury or illness due to their work. It also covers any legal fees and damages due to a claim.

Finally, business interruption insurance covers your bar in case of a natural disaster or other events that may interrupt your operations. Such coverage compensates you for lost income and any expenses incurred due to the interruption.

How Much Does Bar Insurance Cost?

The cost of bar insurance varies depending on the type of coverage you choose, the amount of coverage, and the specific risks associated with your bar. However, bar insurance can generally cost anywhere from a few hundred dollars to several thousand dollars per year.

Bar Insurance Requirements

Every state and municipality has different requirements when it comes to bar insurance. It’s important to check with your local government to ensure you comply with all applicable laws and regulations.

In general, most states require that you carry at least the minimum amount of coverage required by law. This includes general liability insurance, liquor liability insurance, and workers’ compensation insurance.

Commercial Insurance And Business Industry Classification

  • SIC CODE: 5813 Drinking Places (Alcoholic Beverages)
  • NAICS CODE: 722410 Drinking Places (Alcoholic Beverages)
  • Suggested Workers Compensation Code(s): 9084 Bar, Discotheque, Lounge, Nightclub or Tavern

Bar Insurance – The Bottom Line

Bar insurance is an integral part of protecting your bar from losses due to property damage, theft, accidents, and other risks. Working with an experienced insurance agent is vital to ensure you have the right coverage for your bar at the best possible price. With the right bar insurance policy, you can enjoy peace of mind knowing that your business is protected.

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