Hospitality insurance programs cover owners of businesses such as bars, lounges, nightclubs, comedy clubs and live music venues. These types of businesses require special coverage to ensure there aren’t coverage gaps when it comes to the risks inherent in the services they provide. These three types of insurance are common in the hospitality industry.
1. General and Excess Liability
General liability coverage protects business owners from liability claims if bodily injury or property damage occurs as a result of business operations. Excess liability can be added to an insurance package to provide higher limits than the general coverage.
2. Liquor Liability
Businesses that serve alcohol run the risk of liability claims resulting from accidents following a patron’s alcohol consumption at the establishment. This coverage is also referred to as dram shop insurance.
3. Assault and Battery
Assault and battery coverage goes beyond general liability to protect from claims resulting from certain acts of violence between patrons or between an employee (such as a security guard) and a patron. Not having this type of insurance can result in a critical gap for those in the hospitality industry.
Hospitality insurance programs are designed to protect business owners from the unique risks of serving the public. An insurance professional can recommend the coverage needed to protect these businesses from liabilities resulting from their operations.