When someone mentions alcohol, many people think of a party. While we consume alcohol on birthdays, holidays, and during college graduation parties, the fact is that if your firm sells alcoholic beverages, you might be in trouble. The problem starts when visitors bicker on your property, get drunk and cause an accident, or fall and break something. A single lawsuit has the potential to destroy your business overnight.
What should you do if your business sells alcoholic beverages, such as beer, wine, or spirits? This is where Liquor Liability Insurance comes in handy. The bottom line is that you have no control over your consumers; however, you may safeguard yourself. Liquor Liability Insurance is not your ordinary insurance; your standard insurance policy will likely not cover incidents involving alcohol. You know the difference between wine and whiskey, but do you understand the difference between liquor liability coverage and regular business insurance?
Your policy’s limitations are determined by your selections as well as any state legislation that applies to you. Because each firm is unique, the amount of coverage you select will be determined by your personal risk tolerance, yearly sales, and a variety of other factors.
This form of coverage, while useful in the case of alcohol-related mishaps involving your guests and their potential victims, is not the only type of insurance you’ll need. We can assist you in determining what your company may require along with assisting you in locating the appropriate coverage.
You may also purchase Student Alcohol Insurance to protect yourself in the event of an accident, conflict, or other occurrence linked to someone who has been served alcohol at your university. While insurance will not prevent you from being sued, it will safeguard your assets if you are found liable for losses.
If your policy covers assault and battery (which sometimes happens when a customer is being escorted out of the premises), property damage committed by an intoxicated person, personal injury caused as a result of the intoxicated person, or any litigation and court expenses incurred while defending your company in case of a lawsuit.
Underage patrons who consume alcohol
Customers who are under the age of twenty-one and inebriated are not covered by liquor liability insurance.
Infractions other than property damage and bodily injury
Liability insurance does not cover charges such as slander and defamation, or bodily harm, such as assault.
Self-inflicted property damage
Liquor liability insurance does not cover damage to your belongings.