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When Does My Bar or Restaurant Insurance Coverage Need to Start?

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Opening day, right? That seems like a healthy assumption that most would make when thinking about activating their insurance policy. However, a lot of work goes in prior to opening. This means that opening day is actually the culmination of work, not the beginning.

With that philosophy in mind, it’s important to consider potential risk prior to opening.

 

Let’s assume a brewery calls for a policy to obtain liability, property and workman’s compensation insurance and lists their opening day as May 1. If the insurance agent begins the policy on that date that’s when the coverage begins. It’s important that an agent also ask if anything will happen prior to opening. Perhaps a friend’s or family night is scheduled or maybe the establishment plans to hold a VIP night. In these cases it would be helpful to activate a policy earlier in the case that something unexpected arises.

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As the saying goes, most if the time if you are adequately covered you don’t end up needing it. Chances are the pre-opening events will go off without a hitch. In the case that something did come up though, it would be very disappointing and potentially costly if some sort of claim arose and the insurance wasn’t in full effect. Make sure you choose your time frames wisely when setting up insurance policies and remember to let your agent know about any major events prior to opening your establishment to ensure you are covered.

 

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