Were you trying to find Houston TX bar insurance?
Therefore, you should look no further than Texas Insurance Agency. At our brokerage firm, we can get you in with the right insurance company. When you do that, you can get the right advice on the right coverage plan for you. Your options include general liability, property damage insurance, commercial insurance, and many more.
Our team of experts will help you, no matter what.
We can help you with your Houston TX bar insurance!
Houston TX bar insurance
Houston is one of the biggest cities in the United States. It is also the most diverse city in the nation as well.
When you come to us for help, be sure to visit one of our locations in Katy or Pearland.
Our owners and managers have years of experience to guide you on the right path.
When it comes to bar insurance, that falls under business insurance.
Even further, that falls under small business insurance. With business insurance, you have to keep in mind the types of coverage you’ll need. Small business insurance includes workmen’s compensation, liability insurance, property damage insurance, and many others.
Here at Texas Insurance Agency, we recommend you get a business owner’s policy plan first. This plan helps a lot when it involves businesses in the food-service industry. It gives you the best defense and coverage against any incident that can happen in the industry.
Bars in the United States
The bar industry makes a lot of money in the United States.
In total, there are about 63,000 bars, taverns, and nightclubs in the nation. Of that number, only the 50 largest companies make up 5% percent of the entire revenue made. According to one statistic, bar and tavern sales were a total of $19.8 billion dollars. That’s a 10 % percent increase from the year 2010 where the revenue was $17.7 billion dollars. It’s fair to say that businesses with Houston TX bar insurance make good money, too.
Property Coverage
Texas Insurance Agency can help with your bar insurance!
First off, insurance for your bar must go to the building itself. This is where property coverage can be broken down into different chunks. Firsthand, there’s building coverage. You must get this if you own the building, or you must have insurance on the building. Building coverage ensures the establishment from fire damage, weather, theft, vandalism, and even falling objects.
The second part of property coverage would be the contents coverage. Contents coverage protects the property inside your establishment. This could be anything from tables to wall sconces to your supply of alcohol. You may need to get separate coverage for specialty items. This could be your outdoor signs, antiques, or any artwork you have. It can be hard to know the value once the damage has been done.
The third part of property coverage would be equipment breakdown coverage. This would be anything electrical in the building. This includes your kitchen as well. However, this type of coverage will protect you from any losses, whether it be in sales or wages.
The fourth part of property coverage would be food spoilage. If your kitchen has a power outage, this coverage can help you with the cost of restocking food in your freezers and coolers.
The fifth part of property coverage would be the loss of income coverage. This is necessary when your establishment has to close down after a power failure or other disaster. The continuation of income from this coverage will help you weather the expenses that come after until you can re-open. Usually, this coverage lasts for up to one year.
And lastly, the sixth part of property coverage would be flood insurance. In a lot of cases, flood insurance is not part of your overall coverage. However, if your area is prone to floods, it’d be best to get a business flood insurance policy. For your Houston TX bar insurance needs, that’d be a good idea.
Liability Insurance for Your Bar
Anyone can find themselves in a lawsuit. It could be your workers or customers. That’s why it’s good to get liability insurance. At Texas Insurance Agency, that’s one of our specialties. Don’t forget to talk with us for a quote.
Here at Texas Insurance Agency, we recommend you get general liability insurance. General liability insurance or GLI covers bodily injuries for both the workers and customers. You may need a separate rider if you have hazardous entertainment features like mechanical bulls or a live shark petting zoo. However, this liability insurance does not cover anything that is the result of intoxication. In that case, you’ll need liquor liability insurance.
Liquor liability insurance covers any injury or damage that is the result of over-serving or intoxication. However, liquor liability insurance does not cover assault and battery.
Assault and battery insurance cover any potential problems with fights in the establishments. Once you hire security guards and bouncers, that shouldn’t be a problem.
There’s also product liability insurance, and that covers any food or drinks that can cause people to get sick. If it’s the result of your products, you will be liable for medical expenses and fees that come after.
Employee coverage
Your employees will have coverage too. Just give us a call for a quote!
For your bar, you will need to consider coverage for your employees. This includes unemployment insurance for anyone that leaves through no fault of their own. Disability insurance is also essential for anyone with disabilities, and their income has protection if they can’t work.
However, medical insurance may not be an option since most bars have fewer than 50 staff members. Despite that, workmen’s compensation is important to have as well. Workmen’s comp will help cover any injuries and expenses resulting from accidents for your employees.
Cost to buy insurance
When you buy bar insurance, you may need to consider several things. The cost will come down to how long you’ve been in business, your location, your annual sales, the type of bar you own, and whether your establishment is a venue for live entertainment.
Give us a call!
At Texas Insurance Agency, we have over 40 years of experience, and also, we make sure to put you first and not the insurance companies we work with. Please shoot us an email or give us a call at 281-398-1010.
You can also get a free quote! We can help find the best Houston TX bar insurance for your business.
Fun Facts about Houston, TX
- Houston gets its name from Sam Houston.
- The population of Houston is over 2 million.
- Houston is home to NASA Johnson Space Center.
- Houstonians eat out more times during the week than in any other city.
- For more info, look up the official website of Houston.
