You have dreamed of the perfect nightclub for a very long time, and you have finally had the opportunity to open the spot of your dreams. While you may have already spent hours picking out the perfect DJs and crafting unique cocktails, you may have forgotten about one of the most important steps in establishing your business: nightclub insurance.
Why Do You Need It?
Nightclubs can be extraordinarily lucrative businesses with significant earning potential, but they are also prime locations for potential lawsuits. You could quickly and easily find yourself on the receiving end of a number of different litigations. Your business can easily be found liable for alcohol, violence and health related issues. While you may feel you have control over events within your own venue, you can be held accountable for a number of alcohol and violence related issues that occur outside your establishment, and today people are more than ready to sue for reparation or even profit.
What Do You Need?
As you begin to look for a nightclub insurance policy, you will want to make sure that you have all your bases covered. You will want to start with a general liability policy that will cover the basics of running any business including employee disputes and property damage. You will then want to add assault & battery, liquor liability and product & completed operations insurance to handle additional events that occur on and off your property. Make sure that you have protected your assets and begin researching what you need to cover your new business.