Cheers - owning a liquor store can be a great vocation. However it also presents a unique set of risks. Anytime that alcohol is involved it seems to escalate things to a different level. That is why it is important to work with a risk management partner like Berkshire Insurance Group, which has the experience and expertise to help you create a comprehensive risk management program.
We take a holistic look at your business and make recommendations. We look at your past claims and your current situation to determine both risk mitigation strategies as well as a comprehensive insurance program to help cover you in the event of a claim. Your situation is unique, and we want to ensure you have the right coverage at the right price to protect you and your business.
Is your current program providing risk management, or just insurance? Are you confident your current plan covers you if you:
- Sell alcohol to a minor
- Sell to an intoxicated customer
- Use your personal vehicle for company business
- Have employees steal from you
- Sell contaminated products
- Have a customer who slips and falls leaving your business
We provide a broad range of insurance products to ensure you are covered for these and many other situations including:
**General Liability **– A general liability insurance policy protects your business from a number of potential accidents, hazards and disasters. For example if a sign falls off your building and harms a customer or their vehicle or if a bottle of alcohol falls and a customer is hurt. A general liability policy is designed to cover the medical expenses or pay for the repairs.
Equipment Breakdown – Equipment such as your coolers, point of sale systems and computers are critical to the successful continued operations of your business. Replacing and repairing these items can be very expensive if they break down.
Buildings and Contents – Besides the people part of your business, the physical part of your business including your building and inventory are critical to your ability to run your business. If a fire ravages your property or if a storm causes a major leak in your roof ruining your building and inventory this coverage is designed to protect you.
Business Income and Extra Expense – Big disasters and emergencies can cause you to close your business for an extended period of time until repairs are made or inventory is replaced. Not only do you lose income, but also you will have extra expenses to get things back up and running. This coverage provides the necessary funds to get you back on track.
Electronic Data – Protection for your electronic files and records including data breach.
Valuable Papers Protection – Provides coverage for the cost to replace licensing and regulation paperwork plus required paperwork from suppliers in the event they are lost or damaged.
Employee Dishonesty Coverage – Provides coverage for example if an employee commits dishonest acts such as stealing from the cash register, giving free products to friends, or using company assets without authorization.
“All in one” Business Owners Policies – You may want to consider a Business Owners Policy, often referred to as a “BOP.” It can combine the coverage above into a single policy with comprehensive coverage.
In addition to the coverages above – other insurance for your business includes:
Workers Comp – Legally you must cover your employees with workers compensation insurance. This pays for their medical bills and related expenses if they are ever injured while on the job.
Surety Bond – Local laws and ordinances may require your liquor store to be bonded. A surety bond is a guarantee. It can guarantee that you will provide specific services, or that you have enough collateral to operate your business, or that you will pay local business taxes appropriately.
Contact Vinny Higuera, our liquor store insurance professional, for more information about how we can help you design an overall risk management program.
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