Sports Bar Insurance
Do you run a sports bar? Sports bars can be important hubs in the community, but owning one isn’t without risk. In fact, sports bars are often considered high-risk businesses owing to the fact that they serve food and beverages, including alcohol to customers. To learn more about the risks that sports bars face and how sports bar insurance can help protect you against them, keep reading.
What does a sports bar insurance cover?
Sports bar insurance policies can include a wide range of coverage, like liquor liability insurance, commercial general liability insurance, commercial property insurance, and more. Below is a list of recommended coverages for sports bar insurance policies.
- Liquor liability insurance: Liquor liability insurance is a requirement for sports bars (or any establishments, for that matter) that serve alcohol to customers. This type of coverage can help pay the cost of claims brought against your sports bar alleging third party bodily injury or property damage due to an intoxicated customer.
- Commercial general liability insurance: Commercial general liability insurance, sometimes referred to as slip and fall insurance, protects against claims of third party bodily injury and third party property damage that are brought against your sports bar. Should such a claim be made against you, your insurer may step in and help cover the associated costs, which could include the customer’s medical expenses, repair bills, legal fees, and more.
- Product liability insurance: Product liability insurance is an add-on that is important if your business sells products (including food and beverages) to customers. Since a sports bar’s primary function is to sell food and drinks to its patrons, this type of coverage is a must. It can cover the costs of a lawsuit if a customer suffers bodily injury or property damage due to something they purchased from you.
- Commercial property insurance: protecting your sports bar from property damage is important, and that’s what commercial property insurance offers. With this type of coverage, your sports bar and its business-related contents can be protected against damage caused by specific perils like theft, vandalism, fire, water damage, etc.
- Cyber liability insurance: If your sports bar stores sensitive information online (e.g. your customer’s financial information), then you should consider adding cyber liability insurance to your sports bar insurance policy. This way, if a cyber criminal breaches your system and steals important data, your insurance company can help pay for the associated costs, such as credit monitoring, crisis control, patient notification, and more.
- Crime insurance: Crime insurance is an important one for sports bars. Why? It provides coverage that can help reduce the financial losses of employee or customer crimes against your sports bar, like internal theft, forgery, fraud, and employee dishonesty.
- Equipment breakdown insurance: By adding an equipment breakdown insurance endorsement to your policy, your sports bar can be protected in the event that a piece of machinery or equipment suffers a mechanical or electrical breakdown and is temporarily out of commission.
Does my sports bar need liquor liability insurance?
Yes, if your sports bar sells alcohol, then you must purchase a commercial insurance policy that contains liquor liability insurance. This is the law. Liquor liability insurance is therefore a necessity for many sports bars, pubs, restaurants, lounges, clubs, and more. This type of coverage can help pay for a customer’s medical expenses, repair bills, or settlement fees resulting from a lawsuit if someone becomes intoxicated and causes property damage or bodily injury.
Factors that may influence your sports bar insurance rate
It’s important to state that not all sports bar insurance policies cost the same. There are several factors that determine the price of sports bar insurance plans, such as the location of your sports bar, your personal claims history, and the type of coverage you wish to include with your policy. A few factors that can influence your sports bar insurance premium are as follows:
- The location of your sports bar
- The number of employees at your sports bar
- The annual and project revenue of your sports bar
- Your years of experience in the service industry
- Your personal claims history
- Whether your sports bar serves alcohol
- The coverage types, limits, and policy deductibles you want to include in your sports bar insurance policy
Please note that insurance brokers like ALIGNED do not set rates. However, we can still provide you with an accurate sports bar insurance quote and walk you through the process of buying insurance. As commercial insurance experts, our team has brokers who can also make professional recommendations on the best types of coverage for your business.
Why purchase sports bar insurance from an ALIGNED insurance broker
Purchasing sports bar insurance through an insurance broker is convenient, easy, and quick. A few reasons why our customers love purchasing coverage with help from an ALIGNED broker are as follows:
Brokers how about many insurance products and can match you with a great one
One reason to consult with an ALIGNED insurance broker is that they are familiar with the insurance products offered by a wide array of insurance companies. This allows them to match their customers with the best possible policies for their businesses.
Brokers serve the customer
Second, ALIGNED insurance brokers work for no one but the customer. They are not tied to any insurance companies, which means they can prioritize the customer’s needs at all times. We pride ourselves on our customer service and will do whatever we can to find quality coverage for your sports bar.
Brokers handle everything
Finally, working with a broker means working with an insurance professional that will handle everything. If you want an insurance experience that is truly hassle-free, contact ALIGNED today. One of our skilled insurance brokers will take care of all your needs. They can answer your insurance questions, provide you with a quote, shop around for you, and much more.
ALIGN your sports bar with commercial insurance coverage you can rely on
Ready to dive in and insure your sports bar? Call ALIGNED and speak with one of our licenced brokers today. You can also click here for a free quote now.