The insurance cover of a nightclub depends on its size, location, facilities, and much more. The actual insurance costs can vary from our discussion on nightclub insurance. Let us discuss how much an insurance of a nightclub will cost.
General Liability Insurance
- This insurance covers the cost of third party claims.
- These claims include physical injury to a person, damaged property, and reputational damages. A third party is a person that is not employed by you.
- If a person fell on the floor due to spilled drink and injured his head, then he can sue you for his medical expenses, indirect expenses and cost of suffering.
- In this case, General liability insurance will sustain all the expenses on your behalf.
- It will pay you for lawyer and evidence fees. It will give you the compensation for settlements or damages that you have incurred for the person who has sued you.
- For a small night club, annual insurance premium can cost you an amount between $1,252- 6,088.
- Limit of the policy is- $ 2 million.
- If you have taken your nightclub on rent in Houston, then your landlord will ask for general liability nightclub insurance in Houston
Business Owner’s Policy
- Property insurance will cover all the items that you own in the night club, starting from building to sound system, kitchen and much more.
- The loss of property due to fire, theft and any natural calamity will be covered under this policy.
- An annual premium of a nightclub will cost between $3,225- $ 10,399
- Limit of the policy is $2 Million.
- If you take general liability insurance and business owner policy together in a package, then you can get a discount from an insurance agent.
Liquor Liability Insurance
- Before taking liquor liability insurance, you must be aware of liquor licensing law and required guidelines of your state.
- In few states, the laws and guidelines held responsible the nightclub if an overdrunk customer has caused any damage to the property or life.
- The damage includes car accidents, injuring other people and damage to the property.
- You can be sued if your overdrunk customer has caused this mess.
- Therefore, it is recommended to consult an experienced and competent insurance agent for the nightclub insurance in Austin
- An annual premium of a nightclub will cost around $ 2,524 – $ 3,928.
- Limit of the policy is $ 1 Million.
Umbrella Insurance
- It provides additional protection when your primary policies have reached a limit.
- The primary maxed out policies include General liability insurance, employer liability insurance, and auto liability insurance.
- An annual premium of a nightclub will cost around $ 625- $1,200.
- Limit of the policy is $ 1 Million
These all cost estimates are just provided for your information. You must hire an insurance agent that has the required knowledge and information for nightclub insurance.