Did you know that if your business sells, services, or helps provide alcohol to consumers, you likely need Liquor Liability Insurance coverage? You may not be aware of the risks you take when running a business that involves liquor and need a liability policy that offers you the right coverage. It doesn’t matter if you’re catering, running a bar or brewery, or simply hosting events where you serve guests alcohol, you need Liquor Liability Insurance.
To give you a better idea of why your business could benefit from this coverage, we’re going to break down three big reasons. You might think you could run your business without liquor liability, but you’ll likely change your mind.
#1: WORST-CASE SCENARIOS CAN AND DO HAPPEN
Did you hear about the bartender who served a patron a little too much alcohol on her night off? Well, the family of the child who was left with a traumatic brain injury finally settled their liquor liability and dram shop law claim for $4.4 million. Could you afford to settle that on your own if something similar happened to you? We’re not sure many people could do it.
Getting sued would be a financial detriment on your business, and you can’t afford to go on without having the proper coverage in place. Depending on the state you live in, dram shop laws exist and are in place to hold businesses liable for serving or selling alcohol to minors or intoxicated persons who later cause death, injury, or property damage to another person due to their intoxication. Currently, 43 states have some form of a dram shop law but Liquor Liability Insurance is a good idea no matter where you are. Accidents can and do happen, so it’s important to stay prepared.
#2: MAKE IT EASIER TO GET LICENSED
One of the trickier aspects of starting a business where you plan to serve alcohol is getting your liquor license to start regular business operations. Liquor licenses are mandated at the state level and vary depending on where you live. Most states have liquor licenses for establishments selling only beer and wine, those making over 50% of their profit from liquor sales, regular restaurants selling liquor, and serve.
When applying for a liquor license, you’ll need to be sure you have all the required material per your county or state. You’ll need to show proof of business insurance and code inspections and likely much more. Sometimes you may even be asked to show proof of Liquor Liability Insurance. Even if your county or state doesn’t require you to have Liquor Liability Insurance upon applying for a liquor license, you can still greatly benefit with peace of mind and protection that this insurance coverage offers.
#3: INCLUDE ADDITIONAL COVERAGE
Liquor Liability Insurance from Insurance Canopy offers customers the option to add additional endorsements or policies to their base coverage. These endorsements provide additional coverage to your business for an added fee. We currently offer additional insurance for Cyber Liability which protects you against phishing scams along with assault & battery which protects you and your employees against bodily harm.
Check our application to learn more about what policies our coverage offers.
PEACE OF MIND WITH LIQUOR LIABILITY INSURANCE
the time to protect your business by making sure you have the right coverage limits in place is a crucial aspect of your business plan. Selling alcohol means you’re at risk and need to be legally compliant within your state. Liquor Liability Insurance can help cover the costs associated with a lawsuit if one were to ever occur. Don’t leave your business unprotected and get covered today.
Liquor Liability Insurance starts at $35.42 per month and can be purchased online in less than 10 minutes. After purchase you’ll have 24/7 access to your proof of insurance documents and if you have any questions our agents are available through chat or via email. If you have any questions please contact us.