Insurance for Beer, Liquor, and Wine Stores

General Liability Insurance: This policy covers third-party risks, including customer injuries and property damage.

• Importance: Protects against significant financial losses from lawsuits and medical expenses.
• Coverage: Medical expenses, legal fees, and settlements related to third-party injuries and property damage.
• Best For: Slip-and-fall accidents, damaged customer property, product liability.

Business Owner’s Policy (BOP): A BOP combines general liability, commercial property insurance and business interruption insurance. This is a cost-effective option for small to medium sized businesses.  

• Importance: Offers comprehensive coverage in a single policy, saving costs and simplifying management.
• Coverage: Combines general liability, property insurance and business interruption insurance to cover a wide range of risks.
• Best For: Bundled coverage for customer injuries, business property damage and business interruption.

Workers’ Compensation Insurance: If you have employees, this insurance is legally required. It covers medical costs and lost wages if an employee gets injured on the job.

• Importance: Provides essential financial support for injured employees, ensuring legal compliance.
• Coverage: Medical expenses, rehabilitation costs, and lost wages due to workplace injuries.
• Best For: Employee medical costs, disability benefits, injury lawsuits.

Commercial Auto Insurance: Covers vehicles owned by your business, protecting against accidents, property damage, and theft.

• Importance: Essential for businesses that use vehicles for operational purposes, ensuring coverage for auto-related incidents.
• Coverage: Covers damages and medical costs from auto-related incidents.
• Best for: Property damage caused by your vehicle, liability coverage in an accident, repairs due to vandalism or weather.

Liquor Liability Insurance: Provides coverage if your store sells alcohol to an individual who then causes harm or damage.

• Importance: Critical for businesses involved in alcohol sales, ensuring legal compliance.
• Coverage: Bodily injuries and property damage caused by intoxicated customers, and compliance with dram shop laws.
• Best For: Alcohol-related incidents, intoxicated customer damages, and legal adherence.

Commercial Umbrella insurance: Provides additional coverage when the limits of your other liability policies are reached.

• Importance: Offers extra protection beyond standard policy limits.
• Coverage: Excess liability for auto, general, and employer’s liability.
• Best for: High-value lawsuits, extensive liability claims, catastrophic events.

Depending on your business needs, consider these additional coverages:

• Business Interruption Insurance: Compensates for lost income if your operations are halted due to an insured event. This coverage ensures that businesses can maintain financial stability and continue to pay necessary expenses during periods of interrupted operations.
• Inland Marine Insurance: Protects goods in transit or at off-site locations, including high-value items in transit. Essential for businesses frequently moving goods.
• Commercial Property Insurance: Covers damage to your business property from events like fires, floods, or vandalism. This coverage is essential for protecting the physical assets of a business.
• Crime Insurance: Provides protection against theft, including employee theft, burglary, and robbery. This coverage helps businesses recover financially from losses due to criminal activities.
• Equipment Breakdown Insurance: Covers costs of repairing or replacing broken equipment, ensuring continued operations. Essential for businesses relying on machinery.
• Product Liability Insurance: Provides financial protection against lawsuits related to products you sell. This insurance is crucial for businesses that manufacture, distribute, or sell products.
• Cyber Insurance: This policy is essential for protecting against data breaches and cyberattacks. This insurance covers the costs of notifying clients, investigating breaches, and monitoring for fraud.