While the hospitality industry’s focus on giving people sociable good times and fun, business owners must also take care that their establishment is properly insured before they even open their doors to the public. Facilities such as restaurants, lounges, bars, night clubs and live music venues may have a hard time finding the proper coverage to ensure they will not face financial ruin the first time something goes wrong. They need protection above and beyond what most professionals have. This security may include liquor liability, assault and battery coverage, and even excess liability for extra defense. Specialized brokers with experience in this particular business area are the best sources of insurance for the hospitality industry.
Carrying the right insurance, and having enough of it, is a given for today’s business owners in any industry. Companies focusing on hospitality, however, must be insured against numerous hypothetical situations and “what ifs.” From acts of nature that could cause structural damage or even destruction to fights between patrons to food poisoning to an intoxicated driver causing an accident after leaving the premises, business owners must anticipate all potential hazards and safeguard themselves accordingly. Experienced brokers who understand the unique challenges faced by hospitality-related firms are the best place to start when seeking insurance for the hospitality industry. If you are unsure about your level of coverage, check into it as soon as possible.