Sometimes you don’t feel like going to a bartender or a night club for a drink and what you want to do instead is head to the liquor store for some beverage that will gather friends for a fun night.  

Liquor store owners seem to have it easy, but have you ever thought about the effort that goes into running it?

There are considerations when running a liquor business, but insurance is one of the most crucial parts of ensuring that it runs smoothly for a long time. We’re going to cover different kinds of insurance policies that you may want to take out when running a liquor business. We’ll also explain what goes into determining the cost of your insurance and we’ll cover three of the top liquor store insurance companies out there.

Liquor Store Liability Insurance

General Liability insurance for a liquor store is typically one of the best ones to get your hands on as a business owner because it protects you from financial hazards.

The most common damages that you’ll have to deal with include property damage and bodily injury. An example of bodily injury would be:

• When an earthquake strikes, the bottle fell off from the display racks and caused injuries to customers
• The fridge is grounded and electrocutes customers who hold the handle
• The flooring of the liquor store is poorly maintained causing some customers to trip and sustain injuries

Property damage is also covered by liquor store general liability insurance. You may be wondering how someone can have their property damaged at your store, and these are some situations where this can happen:

• Tripping on something while holding a phone causing the phone to fall on the floor and crack its screen
• Using your liquor store's grounded charging station while using a laptop, causing the laptop to short circuit 
• Use a wobbly desk of your liquor store to work on a project while having a drink. The wobbly desk causes the drink to stumble and spill on the project being worked on

There are other insurance policies to get aside from general liability insurance for comprehensive coverage. For example, public liability coverage is insurance that applies to situations where your store is liable to community members. One great example is if your liquor store catches fire and ends up igniting surrounding buildings. For accidents by your commercial auto, then there's auto liability insurance you can opt to bundle with your general liability coverage.

Liquor Store Insurance Costs

Liquor store insurance is more expensive than insurance for other similarly-sized businesses because of the risks that are inherent in the liquor industry. For example, the very fact that you sell a product that intoxicates people automatically makes insurance companies shudder at the risk they have to shoulder.

When you combine that with other risks like the fact that liquor stores tend to get robbed more than many other establishments, you can see why liquor stores tend to have pricey insurance. However, just like any other kind of store, there are many factors that go into determining how much your insurance will cost you.

For example, the size of your liquor store is a good indicator of how much you can expect your insurance to cost. A larger liquor store will have more expensive insurance coverage because it will have more customers coming.

Beyond the size of your liquor store, you’re also going to need to consider your history running liquor stores. If previous stores of yours have resulted in a large number of claims, then insurance companies will be hesitant to work with you because they expect you to make claims frequently as well.

Keep in mind that the costs we’ve gathered in this table mainly apply to a medium-sized liquor store that has no prior history of claims or any incidents occurring on their property. The quotes that we gathered come out to an average of just over $85.67 per month or $1,016 per year.

Best Liquor Store Insurance Companies

If you want to find the best insurance companies for a liquor store quickly, then you’re in luck. We’ve gone ahead and found three of the best companies that you turn to.

But we don’t expect you to simply take our word for it without any proof, and to give you a better idea of what each company has to offer, we’ve created in-depth reviews of each that will allow you to see  what they can do for you.We’ve even included a list of their pros and cons and defined which liquor stores they’re best for.

Progressive Liquor Store Insurance

Progressive is one of the oldest insurance companies in the USA, and while they may not match the longevity of companies like The Hartford, they still have plenty of experience. What makes Progressive unique is that they stay true to their name by being one of the most ever-evolving companies in the field.

Progressive Policy Details

Progressive offers insurance to liquor stores under its Liquor Liability program, and they offer either separate liquor liability coverage or as an add-on to their general liability insurance. This coverage can be coupled with other insurance policies from Progressive like their commercial property coverage.

Pros

• Affordable

• Easy to get a quote online

• Quick to respond to claims

Cons

• No bundled insurance with liquor liability

Average cost: $81

Best for: Managing your policy online

Our rating: 5/5

The Hartford Liquor Store Insurance

The Hartford is one of the oldest insurance companies in the United States, established in the early- to mid-1800s, and the company has made it through some of the toughest times in the nation’s history. As you would expect from the company’s name, they are based in Hartford, Connecticut.

The Hartford Policy Details

Just like Progressive, The Hartford offers liquor liability insurance separate from its other policies but that doesn’t mean that you can’t get their other coverage, as well. Unfortunately, you can’t implement liquor liability into a traditional BOP, so you may end up spending a bit more for your coverage.

Pros

• Reasonable price

• Custom coverage limits

• Quotes available online

Cons

• Doesn't offer BOP with liquor liability

Average cost: $82

Best for: Medium-sized liquor stores

Our rating: 5/5

Feingold Liquor Store Insurance

While Feingold Insurance has existed since 1935, in its current incarnation as The Feingold Companies, the business has been running since 2002. This agency mainly does business in Massachusetts, and they still benefit immensely from their near-century of being in the insurance industry.

Feingold Policy Details

Unlike the previous two companies, Feingold offers bundles to liquor stores that include liquor liability coverage, building coverage, crime coverage, and business personal property coverage. Feingold’s specialists are also willing to work with you to determine what kind of insurance you need most.

Pros

• Bundle deals cut down the price

• Experienced agents

• Feingold specializes in working with liquor stores

Cons

• Expensive

Average cost: $91

Best for: Larger liquor stores

Our rating: 5/5