New York businesses that sell, produce, distribute or serve alcohol need to carry liquor liability insurance. Restaurants and bars where liquor is sold obviously need the protection of this type of insurance product but don’t forget that you may also need protection if you serve alcohol to your guests at a business function even though you are not in the business of selling liquor.
Liquor liability insurance provides protection for loss or damages claims if a patron of your business becomes intoxicated and is injured or causes injury to someone else. The insurance is purchased either as a supplement to a commercial liability insurance policy or as a separate liability policy.
There is much uncertainty and confusion about liquor liability insurance in the hospitality industry. Some business owners fail to purchase this specific coverage because they assume that their standard business liability insurance will provide protection from the risk of claims by intoxicated patrons.
Heavy damages awards are not uncommon in liquor liability lawsuits. Talk to us if you are uncertain about your obligation or need to carry liquor liability insurance New York. We can work with you to ensure that your hospitality business has proper insurance protection for liquor liability claims.
For more information on purchasing insurance coverage for your organization, contact a risk advisor at 914-357-8444.
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