As the owner of a bar or a restaurant that serves alcohol, you need to be aware of the legal and financial risks you face and make sure that you have the right insurance coverage. Liquor liability insurance can protect your business if you serve alcohol to a customer, and that person then injures someone else or causes property damage.
Why Your Bar or Restaurant Needs Liquor Liability Insurance
Most states have dram shop laws. If a business serves or sells alcohol to a customer and that person gets intoxicated and then causes injuries or property damage to a third party, the victim can sue the business that served or sold the alcohol, as well as the intoxicated individual, and seek compensation for medical bills and the cost to repair or replace damaged property.
That puts you at tremendous risk as the owner of a bar or restaurant. A large judgment might put you out of business.
Liquor liability insurance can protect you from a devastating financial blow. It can cover medical bills, property damage, and legal fees associated with a case.
Factors That Influence the Cost of Liquor Liability Insurance
You might have to take out a separate liquor liability insurance policy, or you might be able to purchase an endorsement and add that coverage to your existing liability insurance. Several factors can determine the amount you’ll have to pay in premiums.
The percentage of your sales that come from alcohol will affect your insurance costs. A bar will pay higher rates than a restaurant that gets most of its revenue from the sale of food and a smaller portion from alcohol.
The coverage limit that you select will also have an impact on your premiums. A higher limit will cost you more, but it will provide you with greater protection if you find yourself facing an expensive claim or lawsuit.
Get Quotes for Liquor Liability Insurance
If you own a bar or restaurant in Connecticut, you face numerous risks. Make sure that you have the right insurance coverage to protect your business from financial losses if a patron under the influence of alcohol causes injuries or property damage.
Petruzelo Insurance can help you select the right coverage for your business, including liquor liability insurance. We can discuss your needs, help you choose appropriate coverage limits, and quickly obtain quotes from several leading insurance companies. Contact us today to get help finding the coverage you need at affordable rates.