Buy Liquor Store Insurance

Liquor store insurance is a type of insurance coverage that is specifically designed for businesses that sell alcoholic beverages./p>

This type of insurance typically includes coverage for property damage, liability, and loss of income as a result of a covered event such as a fire, theft, or natural disaster. It may also include coverage for injuries or accidents that occur on the premises, as well as protection for the business's inventory of alcoholic beverages./p>

Some policies may also include coverage for loss of business due to a liquor license revocation or other legal action.

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small liquor stores ranges from $77 to $99 per month based on location, size, payroll, sales and experience.

Liquor stores need insurance for a variety of reasons. Firstly, they are businesses that handle potentially hazardous products such as alcohol. Accidents and spills can occur, and insurance can protect the store from financial liability if someone is injured on the premises or if there is damage to the store or its products.

Additionally, liquor stores also deal with cash and valuable merchandise, which makes them a target for theft. Insurance can cover losses due to theft or vandalism.

Liquor stores also face the risk of being sued if a customer becomes intoxicated and causes damage or injury to themselves or others. Liability insurance can protect the store from these types of legal claims.

Finally, liquor stores also need insurance to protect their employees. Workers' compensation insurance can cover medical expenses and lost wages for employees who are injured on the job.

Overall, insurance is crucial for liquor stores to protect their business, employees, and customers from potential risks and liabilities.

Liquor stores need insurance to protect against potential risks and liabilities that may arise in the course of their business operations. Some of the types of insurance that liquor stores may need include:

• Liquor Liability: This type of insurance covers damages or injuries that occur as a result of the sale or distribution of alcohol.
• General Liability: This type of insurance covers damages or injuries that occur on the premises of the liquor store, such as a customer slipping and falling on the floor.
• Commercial Property: This type of insurance covers damages to the physical structure of the liquor store and any of its contents, such as inventory or fixtures.
• Business Interruption: This type of insurance covers lost income and expenses incurred if the liquor store has to close due to a covered event, such as a fire or natural disaster.
• Workers' Comp: This type of insurance covers medical expenses and lost wages for employees who are injured on the job.
• Cyber Liability: This type of insurance covers losses resulting from cyber attacks or data breaches, which can be especially important for liquor stores that accept electronic payments or store customer information online.

Overall, it is important for liquor stores to carefully assess their risks and liabilities and ensure that they have the appropriate insurance coverage in place to protect their business.

Liquor liability exposures are from selling liquor to underage individuals and those already intoxicated as there should be no on-premises consumption of alcoholic beverages.

Failure to comply with state and federal regulations can result in the loss of a liquor permit which will close the business. There must be a set procedure to check ages of anyone attempting to purchase alcohol. Employees must be trained to recognize signs of intoxication.

Premises liability exposure comes from slips and falls due to public access to the premises. All goods should be kept on easily reached shelves so that customers do not pull items down on themselves. Floor covering must be in good condition, with no frayed or worn spots on carpet and no cracks or holes in flooring.

Steps and uneven floor surfaces should be prominently marked. During inclement weather, snow, mud, and water will be continually tracked into the store by customers.

Housekeeping should be excellent and spills must be cleaned up promptly, with warning signs posted after mopping. Sufficient exits must exist and be well marked, with backup lighting systems in case of power failure. Parking lots and sidewalks need to be in good repair, with snow and ice removed, and generally level and free of exposure to slip and falls. Customers can be injured or killed during a robbery.

Security of visitors in parking areas is rapidly becoming the responsibility of the owner or operator of the premises. Outdoor security and lighting must be consistent with the area. Personal injury exposures such as assault and battery or wrongful ejection can arise from refusing service to belligerent or intoxicated customers.

Products liability exposure for package stores is normally low, as long as reputable manufacturers make all liquor that is sold.

Workers compensation exposures are very high due to heavy lifting and robberies. Improper lifting can cause back injury, hernias, sprains, or strains. Floors may become slick, resulting in slips and falls.

Anhydrous ammonia refrigerants are poisonous when leaked into confined spaces such as coolers. Controls must be in place to maintain, check, and prevent such injury. Cleaning staff can develop respiratory ailments or contact dermatitis from working with chemicals.

Employees should be provided with safety equipment, trained on proper handling techniques, and have conveying devices available to assist with heavy lifting. Injury or death during holdup is a major cause of loss. Employees should be trained to respond in a prescribed manner. Often, there are defensive tools available to the employees such as pepper spray, baseball bats, or guns.

Proper training in the use of implementations for self-defense that is provided or permitted is essential. Employee turnover may be high. Company incentives to encourage long-term employment are positive signs of management control. Workers must also be able to deal with unruly customers.

Property exposures are moderate from electrical wiring, refrigeration units, and heating and air conditioning systems which can tax the electrical system. The wiring must be adequate and up to code. Due to its combustibility, an ammonia detection system should be in place if ammonia is used as a refrigerant. A fire can often cause a total loss because alcoholic beverages are highly flammable and susceptible to damage from heat and smoke. Even a small fire can cause all stock to be condemned due to contamination from smoke and firefighting materials.

Theft is a major exposure as alcoholic beverages can be expensive and are easily resold. Appropriate security measures should be in place, such as keeping more expensive items behind the counter and inaccessible to customers. Security mirrors should be prominently displayed throughout the store. Premises alarms should report to a central station or police department. A panic alarm for hold-ups is advisable.

Equipment breakdown exposures can be high if operations are dependent on refrigeration equipment.

Crime exposures from employee dishonesty and theft of money and securities are very high. The inventory is attractive to employees as they can steal it and resell it for personal profit. Background checks should be conducted on all employees. The inventory must be under the supervision of more than one individual so that there are checks and balances. All orders, billing, and disbursements must be handled as separate duties. Regular audits must be conducted.

If there is a 24-hour exposure or late night/early morning hours, package stores can be a target for holdup because of the significant cash on hand. Money should be regularly stripped from the cash drawers and moved to a safe away from the front of the store. Irregular drops are helpful in preventing a large buildup of cash. Closing time is the most vulnerable time so security procedures should be in place to prevent hold-ups.

Inland marine exposures can include accounts receivables from billings to customers, computers for tracking inventories and sales transactions, signs, and valuable papers and records for suppliers' information. Backup copies of all records, including computer records, should be made and stored off premises.

Commercial auto exposure may be limited to hired or non-owned liability exposures from employees using their vehicles to run errands. If delivery services are provided, only company vehicles should be used. Drivers must have appropriate licenses and acceptable MVRs. Vehicles should be properly maintained and records retained.

Liquor stores may be sued for a variety of reasons, including the below situations and insurance can help protect the store by providing coverage for any damages awarded to the plaintiff in a lawsuit, as well as legal fees associated with defending against the claims:

Selling alcohol to a minor: If a liquor store sells alcohol to someone under the legal drinking age, they can be held liable for any harm caused by that individual's consumption of alcohol.

Over-serving customers: If a liquor store serves alcohol to someone who is already visibly intoxicated, they can be held liable for any harm caused by that individual's continued drinking.

Selling tainted or expired alcohol: If a liquor store sells alcohol that is tainted or has expired, they can be held liable for any harm caused by the consumption of that alcohol.

Negligent security: If a liquor store fails to provide adequate security and someone is injured on the premises as a result, the store can be held liable.

Defective products: If a liquor store sells a defective product, such as a bottle of alcohol that explodes, causing harm to the consumer, the store can be held liable.

Overall, insurance can protect liquor stores from financial losses resulting from lawsuits by providing coverage for damages awarded to plaintiffs and legal fees associated with defending against claims. It's important for liquor store owners to carefully consider their insurance needs and ensure that they have adequate coverage to protect themselves in the event of a lawsuit.