Liquor Based Business Insurance
Liquor Based Business Insurance Information
Liquor Liability Insurance in Fort Lauderdale, FL
Alcoholic beverages can help cultivate a fun and lively environment; however, these products also inherently create or exacerbate risks. If your business’s patrons and guests become intoxicated, they may engage in irresponsible or even dangerous behavior. In these situations, your company could be legally responsible for resulting losses, making adequate insurance coverage an essential investment.
What Is Liquor Liability Insurance?
Liquor liability insurance functions similarly to many insurance products by establishing a legal agreement between your business and its insurance company. In response to covered incidents, you retain the right to file a claim against your policy for financial assistance. If approved, the resulting payout may provide funds up to your coverage limits and assist in limiting out-of-pocket losses and expenses.
What Does Liquor Liability Insurance Cover?
Liquor liability insurance can be tailored to suit your business’s unique circumstances, but coverage typically includes the following potential incidents:
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Third-party bodily injuries—This may apply if a patron or customer becomes intoxicated and causes someone harm, such as in a fight or by driving drunk and causing an accident.
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Third-party property damage—This part of liquor liability insurance can provide financial assistance if someone served by your business causes property damage while intoxicated, such as if a venue’s furniture or decor is broken or defaced.
Who Needs Liquor Liability Insurance?
Any organization that regularly serves, sells or otherwise provides alcoholic beverages to others should prioritize liquor liability insurance. In some cases, local laws may require coverage. While exact needs may vary, an adequate policy should be considered a core loss control measure for restaurants, bars, event venues and liquor stores.
Even organizations that do not regularly involve themselves with alcohol may sometimes require coverage, such as nonprofits or charities planning to host a gala or fundraiser. For one-off occasions like these, host liquor liability may be prudent coverage to retain. Your agent can help assess your circumstances and recommend coverage levels.
At Floridian Coastline Insurance, we know the importance of liquor liability coverage and will work with your organization to ensure you are adequately covered. Contact us today to get a personalized liquor liability insurance quote.
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