In order for a business to have the right protection against the various mishaps that can occur just from day to day operation, the business needs to have the right insurance. While some types of insurance are necessary for almost any business, there are other types that are tailored to fit into the different needs of businesses. Taverns, Bars, and Nightclubs, for example, need many of the standard coverage, but they also need liquor liability coverage, equipment coverage, and property insurance on the actual building where the business is located. Even tavern to tavern, the set up isn’t exactly the same. The needs of one bar, such as Firefly, can be different from another. This is largely why a “Tavern Insurance” policy is not something you see. Instead, Milwaukee insurance agents work to piecemeal together your insurance needs in order to find the package that will cover your business in the best way possible.
Commercial General Liability
Any Tavern, Bar, and Nightclub Insurance policy will need general liability coverage as a foundation for their business as a whole. It is this type of policy that covers a good deal of premises liability coverage. In taverns, many people carry more liability coverage because the risks are higher that damage may occur in an establishment where people are drinking and damages or injuries may occur.
In addition to the possibility of customers getting hurt, there is the possibility that the employees can get hurt as well — even though they aren’t drinking. This is why it is a good idea to have a worker’s compensation plan included in the tavern insurance policy.
Property Coverage and Equipment Coverage
If you own the building where you run your bar or nightclub, you will need to have property coverage to take care of what is needed in case there is damage to the actual building where the business stands, such as broken windows, or pipe trouble. In addition to the building, you will need to insure the most important tools within the building, which include any specialized equipment that is used to keep your business operational. This might include special equipment for brewing, refrigerators, compressors, coolers, and more. If your bar serves food, specialized mixers and fryers may be protected as well in the event of a power surge or some other tragedy. It is important to find insurance that will move quickly in order to help you get your business moving.
Liquor Liability Insurance
In the vast majority of cases, bars, nightclubs, and taverns sell liquor, and it is important for business owners to carry liquor liability insurance. With a liquor license, there is a certain amount of responsibility involved. Owners and managers need to work together to make sure people under 21 are not being served alcohol. They also need to keep an eye out for people who are drinking so much that it may put themselves or others in a difficult or dangerous position. In some cases, different rules may apply if the club holds private parties. A qualified Milwaukee insurance agent can talk to you about the dynamic of your business to help make sure your liquor liability provision will cover what you need.
Business Income Insurance
In some cases, something happens in a bar or tavern that forces the business owner to close its doors. Unfortunately, there are still operating costs, such as running heat and electricity even when the business is not operating. Sometimes it is necessary to rebuild the structure, which costs money, and for every day the business is closed is a day that is more difficult. That’s why many add-on business income insurance to their list of things to cover. This will assure that there is at least some kind of cash flow that allows some level of income that will allow you a chance to rebuild and come back better than before.