What is Bar Insurance?
Running a bar in is a serious undertaking that requires a substantial investment, and the time and financial resources poured into this type of business should be protected when possible. Bar insurance helps owners drinking establishments in Vermont protect their businesses from a variety of potential risks,
Bar insurance policies are specialized commercial policies designed to meet the risk mitigation needs of bars and similar establishments. Because these businesses generally face multiple risks policies are usually underwritten as package policies that come with several coverages.
What Vermont Establishments Need a Tavern Insurance Policy?
A wide range of drinking establishments in Vermont may want a tavern insurance policy. The protections contained in this type of policy may be appropriate for bars, pubs, taverns and some other establishments that serve adult beverages.
Tavern insurance isn’t necessarily right for every business that serves alcohol, though. Although nightclubs, restaurants and caterers that offer adult beverages may have similar coverage needs, these businesses will usually find that they’re a little better protected from the unique risks they face by a slightly different policy. Respectively, nightclub insurance, restaurant insurance and catering insurance are normally better options for these businesses.
Businesses that find themselves in gray areas when trying to figure out how they’re categorized should speak with an insurance agent who has specialized in bar and similar insurance policies. A knowledgeable agent will be able to recommend the best commercial insurance option based on a business’ specific situation.
What Protections Are Available Through Tavern Insurance?
As noted, tavern insurance frequently offers multiple protections in order to protect against a variety of risks. Many of these can be categorized as either liability or property coverages.
Some of the liability protections that a policy may make available include:
- General Liability Coverage, which might insure against certain common accidents
- Product Liability Coverage, which might insure against illnesses caused by foods and drinks
- Liquor Liability Coverage, which might insure against alcohol-related incidents
- Assault and Battery Coverage, which might insure against physical and sexual confrontations
- Commercial Liability Coverage, which might fill in some liability coverage gaps
- Commercial Umbrella Coverage, which might give supplemental liability protection
Some of the property coverages that a policy may offer are:
- Commercial Building Coverage, which may cover an owned building
- Commercial Contents Coverage, which may cover large equipment, smallwares and inventory
- Tenants Betterment Coverage, which may cover improvements made to a leased area
- Food Contamination Coverage, which may cover spoilage following a disaster
- Equipment Breakdown Coverage, which may cover repairs of certain equipment
In addition to these protections, businesses sometimes also get cyber liability, business interruption, employment practices liability and other coverages. A knowledgeable agent can assist with coverage selection so that a bar is well protected.
Do Bars Need Workers Compensation Insurance?
Workers compensation, which generally covers job-related illnesses and injuries that employees suffer, is normally required by Vermont state law if a business has wage- or salary-earning employees. Since most bars have employees, this insurance is widely needed within the industry.
Whether workers compensation is procured through a tavern policy, however, varies from one policy to the next. Some bars might end up purchasing the coverage as part of their package policy, while others might get the coverage via a separate, more specific policy. Agents who are familiar with tavern policies likely also help businesses explore the available workers compensation insurance options.
How Can Establishments Get Bar Insurance?
For assistance insuring a bar or similar establishment in Vermont, contact the independent insurance agents at T.S. Peck Insurance. Our agents are able to request quotes from different insurance companies in the state, and they have the expertise necessary to help you accurately compare each one. With their assistance, you can be confident in the bar insurance policy that you ultimately select.