New York Liquor Liability Insurance, for the Food Service Industry, (including restaurants, caterers, wholesalers, retailers), should not be an optional endorsement.
Any NY business which manufactures, sells, serves, or facilitates the use or purchase of alcohol should consider New York liquor liability insurance a necessity.
* Standard commercial general liability insurance policies does not protect your business against alcohol related claims if you are in the business of alcohol*
As a NY business owner, in many cases, you are responsible for the actions of individuals even after you have served them.
According to Gregory Boop of About.com only 35% of businesses that should have Liquor Liability Insurance actually carry the coverage.
There are two main reasons for this vast number of unprotected establishments:
- Price – NY Liquor Liability Insurance can be expensive depending on type of business and geographical area.
- Very common misconceptions within the food services industry as to the liability exposures occurring from alcohol related incidents.
Here is a List of the very Important coverages that are often excluded on standard NY Liquor Liability insurance policies that you will need to discuss adding with your NY insurance agent:
- A large number of NY Liquor Liability claims involve fights. A policy that does not include Assault and Battery coverage would be next to useless.
- Some standard NY liquor liability insurance policies will not include defense costs. This coverage is a must. Make sure any NY Liquor Liability policy you purchase carries defense costs included.
- Employees are often excluded on standard New York Liquor Liability policies. Don’t be naive and pretend your employees do not takes drinks on the job. Make sure that your Employees are included on the policy.
- Mental damages such as stress and mental anguish are often excluded on standard liquor liability policies. These types of claims can be large and litigation can last a long time. Make sure that Mental Damages is covered on your New York Liquor Liability insurance policy.
There are ways to reduce your NY Liquor Liability insurance premiums. First and most crucial is having a clean loss history.
However, employee training (such as the T.I.P.S. program) and safety programs can have up to a 20% premium discount depending on the carrier.
And as I’m sure your already aware, DON’T SERVE MINORS, because there is NOT an NY insurance policy that will cover you if you are found serving minors.
With so many alternatives it’s understandable that you may feel a bit frustrated—so why don’t you enjoy living your life and leave the insurance part to us!
We’re all about you and your business, which is certainly worth insuring with comprehensive NY liquor liability insurance.
Contact us today at (518) 456-6688 or Click Here to email – for a complimentary coverage evaluation.
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