Liquor Liability Insurance
When selling or serving liquor is part of your business’s regular operations, you must account for many different risks and exposures. Alcohol can exacerbate situations or circumstances that may already have their own inherent risks. Even a well-trained company and staff may not be fully capable of preventing small problems from becoming significant incidents. Fortunately, acquiring the right insurance coverage can protect your company and limit your losses.
What Is Liquor Liability Insurance?
Liquor liability insurance is a type of business insurance tailored toward businesses that sell, serve or distribute alcoholic products. For such companies, this type of policy is an integral component of a suitable insurance portfolio.
By purchasing a liquor liability policy, your company can be covered for the following expenses:
- Medical bills—If an intoxicated customer causes a bodily injury after your company served them alcohol, you may receive financial aid if held liable.
- Property damage—This coverage provides assistance in the event your company is held liable after serving someone who causes property damage.
- Legal expenses—If a lawsuit forces you to acquire legal representation or imposes settlement costs, this coverage can help recoup your losses.
Who Needs Liquor Liability Insurance?
In general, any company involved in the creation, sales, distribution or serving of alcohol should consider liquor liability coverage. This includes the following:
- Grocery stores
- Liquor stores
Get the Right Coverage
Given the wide variety of businesses that serve alcohol as part of their regular services and operations, there is also plenty of variance regarding specific needs required within policies. Speak to one of our qualified agents to construct coverage that meets the needs of your business. Contact James L. Smith Insurance Agency today to get started.