4 Key Coverages Every Adult Nightclub Should Possess
Posted on: June 24, 2015 by RMS Hospitality
Nightclubs have the potential to draw in a dynamic crowd and have proven to be a profitable business for decades. However, given the nature of nightclubs, obvious risks are attached to these types of establishments. To defend your business against potential claims resulting in property and asset loss, implement your NY Nightclub Insurance policy today. Here are a few specific examples of policies that should be included in your insurance solution to better protect your nightclub.
According to IBIS World, there are over 70,000 bars and nightclubs nationwide and bring in an estimated combined $24 billion in revenue each year. With these kinds of statistics and even more room for growth, it is imperative to adequately insure your nightclub.
General Liability- This basic policy covers property damage and bodily injury if someone becomes injured at your establishment. Although one would assume injury would result from too much alcohol consumption, liquor coverage is typically excluded from this policy.
Liquor Liability- With alcohol consumption comes increased liability risks. This coverage can protect you against litigation fees in the event someone sues your establishment after a liquor related incident.
Assault & Battery Liability- Going hand in hand with liquor liability, this component will defend your nightclub against potential assault and battery claims that occur on your property. Keep in mind that it is your responsibility as a nightclub owner to provide a safe environment for your patrons and ensure security with bouncers and adequate staff.
Excess Liability- This coverage can be provided if you feel you need additional protection on one or more components of your policy. For example, perhaps your coverage only specified $100,000 in liquor liability, but since your nightclub hosts an abundance of concerts and hosts large parties, you want to add more coverage. Excess liability can be tailored to your specific needs.
At RMS Hospitality Group, we understand that owning and operating a nightclub poses inherent risks. We offer comprehensive and custom insurance policies to protect every aspect of your nightclub to ensure its success. For more information about the policies that are right for your business, contact our knowledgeable specialists today at (888) 359-8390.