Insurance Journal Forums

$6000 is a bargain. Question to ask your agent -
Does that include liquor Liability?
Do you know what your limits are?

The cost of the liability coverage is usually a function of your gross sales. Have they been flat? If sales have been increasing and your premium has remained constant, has your premium really stayed flat?

You may also want to ask if coverage is provided for assault and battery.

iam212, Elise,

Crossins and tflood are both correct with respects coverage & pricing. You've been in business for 4 years. Has you agent obtained other quotes each year to compare? If you are willing, you might want to try Access E &S in San Diego. They have a program for bars/taverns and we've been successful with their pricing. Contact Roxanne. They're a wholesale broker but can provide you with a name of a local agent.

Good Luck.

You might be insured with a surplus-lines company, these companies are more expensive. If you are claims free, you should be eligible for CA standard markets. Let me know if you want me to shop for you...

Hi Iam212,
We are brokers in CA and able to help you in your case.
Please call me 650-353-5868.
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Elise,

I am an insurance broker but I also happened to own a small sports bar about 3 years ago. It sounds like the premium you are paying is reasonable but as others suggested I would check on the coverage to be sure that it included assault & battery. I was able to slip into a Travelers package policy that included GL and Property for about $5500, BUT only because it passed the laugh test that we were a restaurant. If you are just a bar, you are most likely with a surplus lines carrier. Do you know the name of your company?

Like what others have suggested, you might want to invest a little bit of your time talking to your insurance agent. Ask him to shop and compare the following:

1. Coverage (GL, Property, Liquor Liability, Assault & Battery)
2. Premium Basis (Gross sales, Area - sq. ft. etc.. some carriers rate based on public area)

Although it is important to check the stability of the carrier, I disagree with some that pushes only admitted carriers. Just because they are admitted does not mean it's cheaper or better. Furthermore, most standard carriers will not insure bars BUT please consult with your broker.

Last, It's always good to give your current broker a shot since he/she might be more familiar with your busines operation. If you are not satisfied with your broker's result, then consult with other agent/broker that specializes in restaurants, bars, taverns. You can also talk to other bar owners and ask them to refer you to their agent/broker. BUT please don't just call any insurance agent off the yellowpages.