subject: LGBT Bar and Nightclub Insurance Factoids [print this page] Here are six things to keep in mind when looking for a new or upgraded insurance policy
Make sure your insurance agent is an expert in nightclubs and/or bars to ensure he or she fully understands your business, or consider hiring an independent risk management and insurance consultant who does not sell insurance.
Educate yourself on the going rates, and be prepared to negotiate with your agent and tell him or her why you think the rates might be a little high. Make sure he or she also knows everything about your particular nightclub or bar.
Don't pick the cheapest insurance policy its low price likely means there's a lot missing from it. Instead, opt for a mid-priced policy because you can always add to it.
The more food you serve, the lower your insurance premiums. Look at it this way: Food is the sponge that protects your customers from their own indulgences.
Basic responsible service training for your bartenders and your cocktail staff can reduce premiums in your liquor liability coverage by 15 to 20 percent. This training should include recognizing when a customer is intoxicated or mixing alcohol.
Other things that can cause your premiums to rise: bottle service at tables, happy hours that go longer than a couple of hours or go past 7 p.m., low-priced shots and unusually low drink prices.
About The Gay Nightclub Insurance Agency GNIA was founded with one simple goal in mind to offer comprehensive insurance packages that meet the specialty needs of the LGBT bar and nightclub community. We pride ourselves in our approach to protect the interests of our customers. Our objectives are not only to embody all of the traditional methodologies for mitigating loss exposure, but also provide valuable insight to help businesses run more smoothly and efficiently. Focused specifically on the LGBT hospitality industry, we are able to offer unparalleled expertise while providing the coverage our clients need all at an incredible price.
LGBT Bar and Nightclub Insurance Factoids
By: Harry Smith
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