As a restaurant or bar owner, your skills in handling diverse situations are unmatched. Whether you’re dealing with fake IDs, managing rowdy patrons, or celebrating birthdays with guests, no two nights are the same—and that’s what makes it exciting!
The Importance of Innovation
Daily specials like “Taco Tuesday” are great for bringing in customers, but the competition is fierce. To stand out, many owners add entertainment such as bar games, live music, dance floors, or even mechanical bulls. These investments can lead to significant turnout but also bring increased risks.
Protecting Your Investment
As you plan and finance new entertainment, don’t overlook the risks involved. One lawsuit can bankrupt small businesses or severely impact larger ones. At Swarts, Manning & Associates, we work with business owners to identify liability exposures and provide solutions to mitigate risks.
Avoiding Risk
Lawsuits often occur when patrons get hurt. Proactively addressing hazards can help prevent accidents. Consider these preventative measures:
- Prohibit inebriated customers from participating in bar games.
- Require waivers for customers using mechanical bulls.
- Inspect for electrical hazards 30 minutes before live entertainment starts.
- Assign at least one security guard to monitor the dance floor.
Having a checklist and clear rules in place can go a long way toward reducing risks.
Transferring Risk
To further protect your investment, consider additional insurance policies to transfer liability. Many standard policies, such as General Liability, Property Insurance, and Workers’ Compensation, may not cover certain risks associated with entertainment. You might need to add:
- Alcohol Liability
- Guest Property Coverage
- Lost Income Coverage
- Assault and Battery Liability Insurance
- Mechanical Bull Coverage
- Product Liability Insurance
- Employment Practices Liability Insurance (EPLI)
A thorough insurance review can ensure your policies address specific exposures.
Find Out How We Can Help
At Swarts, Manning & Associates, we offer tailored insights into coverage options for restaurants and bars. Let us help you get the best coverage for your unique needs. Contact us today for a complimentary consultation at (833) 878-2820.
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