Why Do You Need Liquor Liability Insurance?
If you throw a party at your house and guests are consuming alcohol, there is a chance that someone might have too much to drink.
It would be nice to assume that person has a designated driver, but that’s not always the case.
That doesn’t always happen. A couple things you can do to be vigilant, that won’t cost you any money:
- Don’t serve alcohol at all. Problem solved.
- Hire a professional bartender or, if your event is catered, have your caterer serve the alcohol.
- Request a Certificate of Insurance from the caterer for Liquor Liability.
- Make sure people leave their keys with you and give them back when they leave.
- If someone clearly has had too much to drink, talk them into calling Uber or Lyft.
Consider the facts:
Every day, almost 29 people in the United States die in alcohol-impaired vehicle crashes—that’s one person every 50 minutes in 2016.
Consider these real-life claims scenarios:
$25,000 Alleged Liquor Liability claim after an intoxicated person left the insured’s fundraising event and injured a third party in an auto accident.
$1,196,720 Liquor Liability claim – a highly respected neurosurgeon was killed while returning from performing emergency surgery. He was struck from behind at a high rate of speed by a patron of the insured’s facility.
Does your homeowner’s policy cover claims arising out of intoxication of a guest? You should ask your agent or insurance company.
Will it cover you somewhere other than your home? Again, you should ask your insurance agent or company.
What limit of insurance do you have/ What if the limit is exhausted?
Considering that the average hourly cost for an attorney is $250, a personal umbrella policy makes good sense. They cost an average of $250 per year and provide at least $1,000,000 of additional liability protection.
When you can, you should get written confirmation from your insurance company that you have coverage for your party. If that’s not available consider a Special Event Policy, which can cost as little as $350 for $1,000,000 of dedicated liquor liability.
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Please let us know if you have any questions. We’re here to help.