A bar, tavern, or nightclub can be an exciting and promising venture and, with proper planning, can be financially lucrative. To reach this level, you must build a reliable customer base of loyal patrons and protect your investment with insurance coverage.
Many bars serve as a refuge to unwind, engage in social interactions, and enjoy a night out, especially with live entertainment. Proper bar and tavern insurance coverage is non-negotiable if you operate a bar and regularly schedule musicians and other live performers.
Having the right bar insurance policy in place will protect you, your customers, and the live performers at your bar.
Concert Liability Insurance
Without sufficient insurance coverage, you may be hard-pressed to attract live entertainment for your guests. Many performers require that you have concert liability insurance before they will agree to do a show at your venue. This type of bar insurance is necessary for several reasons.
Concert liability insurance will cover the performers’ equipment in the event of any damage to it in your bar. For example, if a leaky roof causes water to get onto a musician’s amplifier or guitar, concert liability insurance will cover the costs to replace or repair the items.
If electrical problems in the bar cause a fire or otherwise damage or destroy the equipment, this insurance coverage will compensate the performers.
More importantly, this type of liability coverage applies to medical care any performer needs in case of injuries. This includes the acts themselves and any support personnel they have with them for the performance.
If the performers or members of their group are injured at your bar and require medical treatment, hospital stays, or other related care, concert liability insurance will cover these costs.
Event Liability Insurance
You will also want bar insurance that protects your physical establishment. Comprehensive coverage will not only allow you to continue operating your bar but will enable you to keep hiring live acts to play for customers.
Event liability insurance is typically a one-time purchase. It will pay for damage to your bar during an event such as a live act.
If patrons or live shows damage to equipment or materials, this liability insurance will protect you financially to avoid paying for repairs out of your pocket. This coverage can also pertain to structural damage or injuries customers suffer during events.
Workers’ Compensation Insurance
This protection can provide you and your staff with peace of mind. Workers’ compensation insurance will cover medical treatments for employees who are injured on the job.
Employees at your bar who are injured while performing their regular duties during their normal working hours will have financial support for care, including medication, rehabilitation, and medical equipment, as well as some compensation for lost wages.
However, this coverage will not pay benefits for employees who caused their injuries, engaged in horseplay, were intoxicated, or were injured outside of work.
By carrying workers’ compensation, you can create a better working environment for your employees. You will also lessen the financial burden on your company.
Without this coverage, your business will be responsible for paying medical claims — costs that could significantly impact your bar.
Protecting Your Bar From Lawsuits With Bar Insurance
Different forms of bar insurance provide a defense against legal action. You may be held liable if a live act performs at your bar and suffers injuries. Similarly, the show may sue you if any of its equipment is damaged at your bar.
Having liability insurance will not prevent live acts from suing your bar; however, the coverage will protect you financially. The insurance will pay potentially expensive attorneys’ fees. If the court awards in favor of the plaintiff in a lawsuit, your insurance will help pay the assessed damages.
Partner with Pro Insurance to Protect Your Bar
You have worked hard to build a successful bar and provide a place for your customers to enjoy. Hiring live acts and entertainment is an excellent way to attract business and build a customer base.
Having bar insurance maximizes your investment and protects you and the acts you host. To purchase the right plan for your bar, contact Pro Insurance Group. Call today at 833-619-0770 or visit our website today to get a quote. Our dedicated team will help you choose the right plan for you.