If your bar or restaurant is one of the many rolling the dice by not having a liquor liability insurance policy, listen up. Every moment you go without liquor liability coverage is a moment where your entire business is on the line and could be taken away in the blink of an eye. Accidents can happen at any time without warning, and if an intoxicated patron harms himself or someone else, your business can face an enormous lawsuit. With that in mind, here are 5 more reasons your establishment needs liquor liability insurance immediately.
1. It only takes one incident to bankrupt your business
As we said earlier, accidents can happen at any time. A patron who has had a little too much to drink could assault another customer or, even worse, get behind the wheel and cause a deadly accident. Without liquor liability coverage, your business could get sued to the tune of millions of dollars. That’s right – millions. Chances are you don’t have that kind of money just laying around. So why are you putting yourself at risk by running a bar or restaurant without liquor liability coverage? Get covered today.
2. General liability policies won’t cover liquor liability issues
We’ve heard it a thousand times, “I have general liability coverage. That will take care of everything I need.” WRONG! The truth is general liability policies almost never cover liquor liability issues. There usually isn’t a one-size-fits-all policy for bars or restaurants. Typically, you need a combination of policies to cover all risks and reduce your exposure. Talk to an experienced bar and restaurant insurance agent today to make sure you have all the coverage you need to protect your business interests.
3. The average cost to defend a liquor liability claim is $150,000
Even if your business did nothing wrong, you can still get hit with a liquor liability case. And the cost to defend your business against these cases is exorbitant if you don’t have insurance. On average, it costs about $150,000 to defend your business against a liquor liability lawsuit. Do you really feel like spending that much money unnecessarily? Get covered so you can be protected against lawsuits.
4. Managing a liquor liability lawsuit is stressful and time-consuming
There are few things more stressful than getting sued. If your bar or restaurant is the target of a liquor liability lawsuit, you’ll find yourself spending hours dealing with the case. That’s time you could be spending on building your business or with your family.
5. Even the best employees can make mistakes
Your employees are hopefully well trained on how to responsibly serve patrons. However, even the best employees can make a mistake when your establishment gets busy and it becomes difficult to keep tabs on every customer. And don’t forget, employers can be held liable for employees who over-serve alcohol or violate serving laws. Liquor liability insurance is a valuable safety net that can protect your business even when an employee makes a costly mistake.
Stop Tempting Fate without Liquor Liability Insurance
If your establishment serves alcohol and you don’t have liquor liability insurance, now is the time to stop rolling the dice once and for all. Yes, this coverage comes with a cost, but it’s nothing compared to the deadly costs associated with a liquor liability lawsuit. For all your bar and restaurant insurance needs, talk to the experienced team at Food & Beverage Insurance Agency. We offer liquor liability insurance in Dallas, Houston, Austin, San Antonio, and all across Texas. Visit www.MyBarandRestaurant.com for more information.
