Bar Insurance Libertyville: What you need to know as a bar or tavern owner
Bars and nightclubs are entertainment joint that sell liquor and beer. These types of jobs usually have many high-risk situations. Bar owners should have strategic measures in place to contain any risky events that may potentially damage their business. It would be prudent for bar owners to consult a bar insurance Libertyville provider to get advice on the types of insurance they have to buy to cover their business
Kinds of Risks that Bar Insurance Libertyville Shields You From
There are many risks that a bar can face. Clients, most often than not, when drunk may display some antisocial behaviors and end up doing things they would have otherwise not done. For instance, they may hurl insults at each other or to the owner. This results in assault. Sexual assault is also a possible scenario in bars.
Because bar usually uses a lot of glassware, it faces the risk of breakage. The glassware used in bars are usually expensive from the bottles to mugs and glasses. In the event of a commotion, the business owner stands to lose a lot in breakage.
Bars may have vehicles to transport goods to their premise from the wholesaler. This vehicle transport very fragile goods. In the event of an accident, it’s creates may break and once the booze is spilled, there’s no scooping it back.
Odd as it may seem, employee theft in bars are a common thing. It still poses risk to bar owners. It is helpful that bar owners assess their employees for loyalty every once in a while.
Factors that increase risks and the need for greater bar insurance Libertyville coverage
The content sold by the bar itself in a factor increasing risk to the business
- Having recreational facilities like swimming pools,volleyball courts, or bar games increase the chances of injury to persons.
- Company cars/vans. Owning a bar vehicle can be beneficial but also increases risk to the business owner.
- Using computers and communication networks poses risks to the business in the form of data loss.
Types of insurance offered for bar insurance Libertyville protection
A review with a bar insurance agent can help you determine the types of coverage your business needs. Below are types of bar insurance Libertyville policies to consider.
- Property insurance will cover the premise and contents. One can get a special bar owner insurance from bar insurance companies or secure a business owner policy whichever is affordable.
- Liability insurance will cover owner injuries and third-party injuries by the patrons or staff or employee theft. It provides the owner a defense lawyer and pay for damages.
- Product liability covers the danger your product may cause your clients.
- Liquor liability insurance covers damages that may be caused to the customers by beer bought from your premise.
- Employee theft coverage covers the patron from disloyal employees. In case an employee steals anything from the bar, (cash or other materials) the employer may ask to be compensated or his costs to seek justice refunded
- Commercial auto insurance will cover all vehicles the business owns. This is usually different from the personal auto policies. It only covers the commercial vehicles.
You will also need to purchase workers’ compensation insurance. Also you may need to purchase other policies such as Natural disasters cover depending on the business location. Network risk coverage can be bought if you are going to use computer in your business.
Find out more about how bar insurance Libertyville minimizes your risk!
WM Schwartz helps bars and taverns in Libertyville, IL to get the bar insurance they need at the lowest rates. Ask a WM Schwartz agent for a quote at 847-996-0002 and get information on bar insurance Libertyville policies to meet your needs.