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Hospitality Industry Insurance
Bar and Tavern Insurance Programs

Bar and tavern owners have similar insurance needs to other businesses in the hospitality industry. The percentage of alcohol of the total sales generally dictates what bar and tavern insurance program you fit in.

At DRickard Insurance we have found tavern insurance packages that include property coverage, and various liability coverage most sought after such as liquor liability.

Even if your sales are completely liquor we probably have a product for you.

There are many things to consider when designing and customizing your bar insurance or tavern insurance programs. Below we have compiled insurance products and concerns that bar owners have shared with us over time. This list is by no means a complete list of all of the concerns you will have. In fact, for a policy designed specifically for you address your needs, rather than a cookie cutter approach to insurance, you should contact us at 607-843-8860 or insurance@drickardinsurance.com

You also need an insurance company that understands that in the hospitality industry, like you are, there is often a need for entertainment. Yet another good reason to let us be your insurance agency of choice.

The comments below are more specific to bars and taverns. For more information on each item click here.

• Coverage Options Available:
• Building
• Glass - Most often what we see is that the bar does not own the building it is housed in. This is even the case when the building and the tavern have the same ownership. Usually the windows and glass are contractually the responsibility of the bar business. Because of this a special endorsement may be need on your policy protecting you from this contractual liability.
• Valuations - Many insurance companies want to tell you how much you need to insurer your property for. We find that business owners would prefer to determine how much insurance they will buy without it being dictated to them. When you contact DRickard Insurance at 607-843-8860 or insurance@drickardinsurance.com and talk to our Hospitality Team you will be able to tell us what you have in mind buying, even how much you would like to pay. We then go to our many insurers and do our level best to find the insurer who wants to work with you on your terms.
• Business Personal Property
• Fixtures - Many times you must upgrade the building you occupy by attaching fixtures, beautification and lighting elements to the building. This now makes the enhancements part of the building. To cover your interest in these a special endorsement may be needed on your policy.
• Inventory - Your inventory is a target of theft. You need good theft coverage.
• Refrigerated Products/Spoilage - To get this coverage at the best price you should keep an active contract with your HVAC up to date and have your refrigeration and freezing units serviced regularly.
• Property of Others - Refrigeration, beverage systems and display cases are often provided by your vendors. You are responsible for them, therefore you need to insure them.
• Loss of Use of premises
• Additional Expenses
• Liability
• Commercial General Liability
• Personal Injury Liability - Suppose someone feels they are injured but it is not physical?
• Products Liability - Is especially important when prepared food and beverages is your product.
• Cyber Liability - You have a legal responsibility to protect consumers from there information being stolen. If it is stolen you have a legal responsibility to help the possibly harmed consumers. A loss could financially cripple you business. You take credit cards for payments all day long. Criminals want that information and are trying to get it. Your staff may be one of those criminals you need this protection!
• Liquor Legal Liability - The less beer, wine, and liquor you serve, sell, or allow in your restaurant the more insurance options you will have and the fewer insurance dollars you will need to spend. The next factor effecting the cost of your total insurance package the percentage your alcohol sales are of the total receipts. HINT, do not ring soft drinks and alcoholic drinks on the same key group on your register.
• Identity Theft - Both businesses and persons are falling victim to these crimes. The more your information is digitally available the more you, your customers, and your business is exposed.
• Employment Insurances
• Workers Compensation - NYSIF is not your only option. Qualifying restaurants may be eligible for Restaurant Safety Group insurance that significantly saves its members on net cost dollars.
• NYS DBL
• Benefits
• Discount Options
• Pay in Full
• Trade Association Discounts
• Sprinkler System Discounts - Qualifying systems save you from 10% to 40% depending on the details on your restaurant insurance premiums.