Give Your Bar Business Next Level Protection With The Right Business Insurance
There isn’t much better than running your own business. Not only is it completely rewarding, but it’ll provide you with a sense of accomplishment that you likely won’t get from anything else in the world. In addition to this, it can be extremely lucrative, given that you chose the right business. Being that you are located in Canada, one of the best businesses in a bar or pub. Canadians like to drink and they like to do it with other patrons. However, bars aren’t all about drinking. They also provide tons of other entertainment options like dancing, karaoke, and socializing.
Whatever the situation is, a pub or bar offers top-notch entertainment. Owning and operating your own drinking establishment might be lucrative and rewarding, but it’ll be one that comes with immense risks. Risks that could potentially lead to financial ruin. That is unless, of course, you are protected with the right business insurance policies. What policies, you might ask?
Save Money On Your Insurance
It probably goes without saying that you already knew you were going to need insurance before reading this. Not only will food business insurance policies protect you, your business, and your family, but they’ll be required by law in most Canadian areas. That’s right, if you want to legally operate a tavern or bar in certain Canadian regions, you’ll need certain insurance policies. Given this information, the best you can do is lower your costs. One of the best ways to do this is by getting multiple quotes.
The Internet has made this easier than ever. All you have to do is log online and do a quick search of insurance providers in your area. Insurance providers like ProfessionalsCoverage now have technology where you can apply for and get quotes online in a matter of minutes. Just go on to the provider’s website, enter in your information, and get a quote. Just remember, the cheapest option isn’t always the best option. In fact, it might likely be the worst. That being said, you can also get discounts on rates by bundling policies. Bundling policies with the same provider and getting multiple quotes is the best way for businesses to save on insurance.
Knowing The Risks Your Bar Faces
Protecting your bar to the fullest in every way possible starts with knowing the risks that you are exposed to on a daily basis. Unfortunately, the only problem is, this can be a bit tricky. Tricky, because each and every place is unique with unique risks and exposures. Not only this, but there are so many risks that it’d be hard to list and prepare for them all. Anything can happen unexpectedly, at the drop of a hat. Something as little from a slip and fall outside your tavern to a drunk going home and shooting his wife. Whatever the situation, you could be blamed and sued in both of these instances.
And, therein is the biggest risk, the lawsuit. As a tavern owner, you can be sued for a variety of things. Things you probably wouldn’t ever even imagine. You can be sued for the two above-mentioned incidents, but you can also be sued for a handful of other incidents. Someone slips and falls in your bar, it can turn into a lawsuit. Someone gets in a fight in your bar and ends up majorly injured, you can be sued. You harm someone’s business through advertising, you can be sued. The main goal really is to protect yourself and your business against these lawsuits.
Now, you might be thinking why is a lawsuit so dangerous? Well, just think about it. When a court case goes into the Canadian Parliament, it’ll likely get tied up in the court systems for years and years. The longer the case goes on, the more money it’ll cost you. Whether you are liable or not for the incident, you’ll be paying out money. You’ll pay for a lawyer, you’ll pay to have you’ll lawyer depose clients, you’ll pay court costs, and you’ll pay just about every time your attorney offers advice. Specific insurance policies can protect you against these very specific situations. The trick is knowing which policies you need.
When And Why General Liability Insurance And Business Owner’s Policy
General liability and business owner’s policy is a good place to start. Bundling these policies together will not only offer you savings unparalleled of what you’d normally get, but they’ll enhance your overall protection. All that being said, both of these policies can protect you in several unique situations. Situations that your business will face daily. For instance, customer injuries, slip and falls, damaged customer property, business interruptions, and libel or slander. These policies will protect you in all of these unique situations.
They will pay the medical and repair costs of the injured individual, individuals, or the damaged property. They’ll also pay for the lawsuit that might ensue. They’ll cover your court costs as well as part or all of the settlement. While libel, slander, and business interruptions are less likely when running a pub, it never hurts to have them on hand just in the event. Plus, bundling them together will over enhanced protection while reducing your overall costs. Unfortunately, these are not the only risks that you’ll face running a pub.
When And Why Commercial Auto Insurance
As a bar owner, you’ll likely be in and out of the pub, delivering kegs and other supplies. Whatever you are doing on the road or deliver, you have to understand that the road is a dangerous place. Any accident, even if it isn’t your fault, can happen in the blink of an eye. Whether you are to blame or not, there will be expenses related to the incident. Expenses that could result in thousands of lost profits. This is where commercial auto insurance offers protection.
Insurance providers like ProfessionalsCoverage offer policies that will cover you and your business in a variety of unique ways. Some of these policies will pay for property damaged in the incident. This will include vehicular, commercial, and residential property. It will also cover the medical expenses of the parties involved in the incident. And most importantly, it’ll protect you in the event that the injured parties want to sue.
When And Why Liquor Liability Insurance
Alcohol can be a wonderful and dangerous thing at the same time. It is a wonderful way to let loose and relax a little bit. A great way to blow off some steam at the end of a long, hard day or week. However, it can also be something extremely dangerous if not used carefully and responsibly. Too often people don’t use it responsibly or overuse it. Whatever the potential situations, this is where liquor liability insurance offers protection.
This policy will protect you when there are injuries caused by drunken patrons. For instance, if someone at your bar drinking runs out and beats the crap out of someone they could blame it on the fact that they were in your establishment drinking. This is turn could turn into a lawsuit for you and your business. Sounds kind of ridiculous, doesn’t it? It happens more than you’d imagine.
What about someone getting drunk and hitting another vehicle in the parking lot while trying to drive home? Worse yet, what if someone that was drinking in your pub gets behind the wheel, hits, and kills someone? As unfathomable as it might seem, you can be blamed and sued for this. This is exactly what liquor liability insurance protects you against. It’ll cover any of the court-related costs of the incident, which could be in the thousands and more than potentially damaging for your business.
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Other Types of Food Business Insurance We Provide:
If your business is not mentioned below, have no worries. Our insurance markets can provide liability coverage for the majority of food related industries.