For years, we have been providing insurance for Texas bars across the area, and during that time, we’ve worked with bars and clubs of all sizes. We’ve learned that shopping for bar insurance coverage is often seen as a complicated, overwhelming task for many bar owners, and some avoid getting coverage altogether, deeming it too much of a hassle and believing it to be unnecessary.
Unfortunately, the process is often complicated thanks to all the misinformation and myths that are thrown around. That’s why we’ve decided to bust these widely accepted bar insurance myths once and for all so you can get the simple information you need to protect your business:
Myth 1: You can’t get sued if you’re broke
This is one we hear all the team. For some reason, bar owners believe that if they don’t have a lot of assets, they can’t be sued. That’s wrong. No matter how small your business is, you can be sued, and if a settlement is awarded, it can be collected one way or another. That could mean your bar equipment will be seized, and even your bank accounts could get seized for collection. Insurance for Texas bars will help protect you against such lawsuits.
Myth 2: Bar insurance is a waste of money
Make no mistake – insurance for Texas bars can come at a high premium. There are a lot of risks inherent with running a bar and dealing with boozy customers. However, just because it’s a little expensive doesn’t mean it’s a waste of money. The level of protection you get from your bar insurance far outweighs its cost. It’s a small price to pay for the huge sum it can provide you in coverage in the event that your bar gets sued.
Myth 3: We follow all serving laws, so we won’t get sued by customers or employees
The cold, hard truth is that it doesn’t matter how well run your business is. Even if you serve all customers responsibly and adhere to all food regulations, you can still be the target of frivolous lawsuits. Without bar insurance, the cost to defend yourself against such lawsuits could bankrupt your business. With the right insurance for Texas bars, you can be protected against costly lawsuits and avoid a serious financial blow.
Myth 4: My bar is too small for its own insurance policy
It doesn’t matter if you run a hole-in-the-wall bar or the most popular bar in town, you need to be insured properly. All it takes is one incident for your bar to get sued and for you to go completely broke. Bar insurance will help protect your business against taking a huge financial blow.
Myth 5: My general liability insurance policy provides all the coverage I need
Wrong. Your general liability insurance plan isn’t enough to protect you against the unique risks that come with running a bar. General liability insurance most likely won’t cover you if an intoxicated patron causes harm to himself or someone else. It won’t cover you in the event that a customer gets behind the wheel after a couple of drinks and gets in a serious, even fatal crash. That’s why you need bar insurance and liquor liability insurance. This is an essential add-on policy that is specifically designed to protect bar owners in such situations.
Have a question about insurance for Texas bars? Comment below and we’ll help!
