Key Coverages in a Hospitality Insurance Program

Posted on: June 9, 2015 by RMS Hospitality Group

Hospitality is a dynamic and exciting industry. With services ranging from nightclubs to bars to comedy clubs, there is a diverse variety of risk exposures. Insuring your business with a respected Hospitality Insurance Company will not only protect you from potential loss, but help your company thrive. Here are a few key coverages to implement in your hospitality business:

  1. General Liability- This policy covers businesses from property damage as well as staff from injury on the premises. It also protects against claimants suing for outlandish amounts of money in the event of an accident.
  2. Liquor Liability- This policy is essential for restaurants, bars, and clubs. While serving alcohol is lucrative and drives business, violence related exposures undoubtedly come with it. Unfortunately, the damages can be quite severe including serious injury or death. According to the Centers for Disease Control and Prevention, alcohol related crashes account for 31% of all traffic accidents per year. If there is an accident, victims historically blame the establishment where the alcohol was provided. If a tragedy occurs, your business will be protected from substantial losses due to claimants seeking compensation.
  3. Assault & Battery- Our Hospitality Insurance Coverage covers both patron and employee disputes. If violence occurs, your policy can be tailored to cover bodily injury, property damage, and protect against being sued.
  4. Excess Liability- In addition to your comprehensive insurance policy, it may be necessary to modify excess conditions into your underlying solution. Examples of this include more coverage for liquor, assault, and general liability.

Don’t wait until a claim is filed in order to insure your biggest asset: your business. Our specialists at RMS Hospitality Group can assist you in tailoring a policy to meet your specific needs. For more information about our offerings, contact us today at (888) 359-8390.

Posted in: blog Hospitality Insurance Insurance Liquor Liability