Liability Attributed to Liquor

liquor liability insurance

For better or worse, one of the most important birthdays for anyone happens to be the twenty-first birthday. Elaborate celebrations are held as the new initiate to the alcohol club drowns themselves for the evening. Everyone wakes up with terrible hangovers, and the rest of life continues without a hitch. The new twenty-one-year-old is finally able to purchase alcohol in more controlled environments and is patiently waiting for the new license or state ID card to arrive. With this said, countless businesses sell alcohol to people every day, and there is much liability in this business. However, liquor liability insurance helps protect these businesses from liability that escapes traditional insurance policies for businesses.

Liquor Liability Cost

The cost of liquor liability insurance varies depending on the size of the business. A gas station that sells liquor will have a starkly different premium than that of a large grocery chain like Walmart or Kroger. A businesses industry also determines the cost of a liquor license insurance policy. Companies that are in the restaurant industry that sell liquor may be charged more than your local catering business, for example. An insurance provider in this area will also look to see how many claims have already been filed in the area or against a particular business. A higher amount of claims will equate to a much higher premium.