Whether you run a nightclub, bar, entertainment venue, plan parties, or something in between, HomePort Insurance has options for you. The nightlife crowd—those comedienne, Iliza Schlesinger terms “Nighttime Scientists”—need special lines of insurance to Keep the Party Going.
However, it can be hard to know what sort of coverage to buy, how much, and how these policies align with the goals of your business. Yes, you want everyone to have a good time and spend money, but you need to consider the bigger picture when insuring a business that’s riskier than most would have you believe.
1. Why Do Nightclubs Need Insurance?
Nightclubs need insurance for the facility, yes. You must insure the building and obtain workers’ comp coverage for your staff. Liability insurance protects your business against basic losses pertaining to injuries or illnesses that the victims believe are your fault while your commercial property policy takes care of the structure.
However, you need additional levels of coverage that include:
- Cyber insurance
- Assault and battery coverage
- Umbrella and excess insurance
Protecting sensitive data/your website is just as important as protecting the building. Assault and battery coverage offers greater protection when physical altercations occur inside the facility—especially when your security staff must act to keep other partygoers safe.
Also, have you considered dealing with pool tables, bar games, dance floors, and other liabilities that simply make your insurance more expensive? You can’t avoid these liabilities just to save a buck, but you can work with our team to find specialty carriers that know what insuring a nightclub is like.
Finally, you want umbrella and excess coverage that will extend your limits and provide additional protection. You never know when a major incident could easily outpace your current insurance package—leaving you to foot the rest of the bill.
2. Should a Bar Carry Extra Insurance Coverage?
Should your bar carry extra insurance coverage? In a word, yes. Your Florida liquor license alone was not only expensive, but it was difficult to obtain. You want all the protection you can get in the event that your business is sued for over-serving someone, serving underaged patrons, etc.
Plus, you need some of the same coverage listed above. Assault and battery insurance is useful when you have a bouncer on the premises and intoxicated guests get a little too rowdy. You must protect your digital systems. You might also want to extend your policy’s limits or coverages based on the average annual loss for a bar of your size.
You have staff running around the whole time—usually on busy/slippery floors—and workers’ compensation insurance is the only way to go.
3. Insurance for Entertainment Venues
Entertainment venues often serve as the perfect amalgam of bar and nightclub, meaning you need all the same coverage you would have purchased above. Your venue goes far beyond hosting bands or comedians, however. Have you considered business insurance?
Business interruption coverage can protect you when you need to shut down or unforeseen events cause you to lose money (see COVID-19.) You also need commercial property policies that can account for all the lighting and sound equipment in the space—items that are far more expensive than the booze behind a bar or the dance floor in a nightclub.
4. One-Off Events Insurance
Insurance for parties, one-off events, fundraisers, weddings, graduation parties, and the like is just as important as coverage for a bar or nightclub. You only have one chance to get it right, and it helps to have insurance backing the whole thing. This is especially true of fundraisers or any event involving a non-profit.
Plus, you need to consider how massive the event is and the people who will be there. If you don’t have the best insurance provided by our specialty carriers, you could lose all the money made on the event (and then some) to a claim you could have settled with a simple insurance policy.
Contact HomePort Insurance for Information on Nightclub, Bar, and Entertainment Coverage
Nightclub, bar, entertainment venue, party planning—whatever you do, the team at HomePort is here to help you Keep the Party Going. We offer a wide range of insurance policies, market to the finest specialty carriers, and provide insight that other agencies simply cannot. In short, we know the nightlife, and we’re here to help.
