Banquet Hall Insurance

INSURANCE FOR CHICAGOLAND BANQUET & RECEPTION HALLS

Banquet halls are the hub of exciting and celebratory events. Corporations can rent a banquet hall to host award ceremonies or seminars, and reception halls can be leased for family reunions or weddings. So as a banquet hall owner, you are used to coordinating or providing referrals for catering, event planning, and live events. You may even offer your own food services.

Alongside the many different services you provide comes the potential for accidents, mishaps, and liabilities. For example, if someone is hurt at your banquet hall, your business could be sued for damages. And if a kitchen fire destroys your venue, would you have the means to quickly make the requisite repairs so you could continue to host events?

With a business protection plan in place, you can rest assured that even when the worst-case scenarios happen, you'll have the means to keep your business afloat, even when faced with exorbitant settlements or property damage. Cacciatore Insurance, in Chicago, can help you create a risk management plan that accounts for these unexpected setbacks to keep your business strong.

GET A BANQUET HALL INSURANCE QUOTE! CALL 312-264-6055 OR CLICK HERE

Typically, banquet hall owners benefit from carrying…

GENERAL LIABILITY INSURANCE
General liability is important business insurance that protects your company at the base level. This coverage helps protect you from a number of common hazards and risks. By protecting you legally and financially, your banquet hall won’t suffer substantially if a customer sustains injuries or makes other legal allegations against your company. General liability grows its level of protection automatically when you add new business locations, services and products. The biggest areas of coverage in a general liability policy include:

General Liability Insurance Includes:

• Premises Liability - Premises liability insurance coverage is important for your banquet hall because you have so many people gathered together for events. If your hall caters to wedding receptions and other party-style events then there is added risk if alcohol is included in the celebrations. When people injure themselves in an accident while on your business property, they may sue your company – particularly if the accident happened due to a wet floor in the bathroom or other potential negligence by your employees. Premises liability insurance pays the medical bills of people who are injured, and it pays for repairs when a customer’s property is damaged there.
• Products Liability - If your banquet hall sells products such as special décor or props for events, there is a chance that you will be sued if one of those products has defects. When products cause physical harm to a customer or cause property damages to their personal property, your products liability insurance can help pay the medical bills and expenses that arise. This coverage can also help pay for your legal defense fees if necessary.
• Completed Operations - When you provide services to your banquet hall clients, they may feel they were injured or damaged by your services after the fact. Completed operations insurance protects you from these events. It can pay for your litigation expenses as well as settlements, awards or judgments.

LIQUOR LIABILITY INSURANCE
Any business that sells or serves alcoholic beverages, including banquet halls, can be held liable for damages or injuries caused by intoxicated patrons. This can include damages that result from fights, careless behavior or even automobile accidents. While it may seem logical to place the blame fully on the individual who perpetrated these acts, the establishments that allowed them to become intoxicated are also held largely liable and can be sued for exorbitant sums of money, particularly if resultant injuries are severe or fatal.

Fortunately, you can protect your banquet hall from large financial losses with a liquor liability insurance policy. These policies are sometimes included with general liability coverage in some business insurance policies, but most often they need to be purchased separately as stand-alone coverage or as a business policy endorsement.

BUSINESS OWNERS POLICY
General liability insurance is automatically included in other business insurance protection called a business owners policy, or BOP. A BOP is specifically designed to help protect your business from losing its assets. Business owners insurance protects both tangible and intangible assets, such as your banquet hall furnishings or your digital event planning software. You can tailor your BOP so that it only provides the coverage you need. Optional examples include:

• Buildings and Contents
• Business Income and Extra Expense
• Electronic Data
• Newly Acquired or Constructed Buildings
• Employee Dishonesty Coverage

BUSINESS AUTO
If you or your start members must drive frequently for business reasons, a business auto insurance policy is must have coverage. This protects your company from suffering the potentially severe financial losses common caused by auto accidents. It pays for physical injuries and damages to property when applicable, and optionally it can protect you from losses caused by uninsured motorists, fire, theft and other potential hazards.

WORKERS COMP
By law, most states require you to carry workers comp insurance for your employees. If an employee is injured while on the job, workers compensation insurance pays for their medical expenses and related recovery bills.

COMMERCIAL UMBRELLA
A commercial umbrella policy provides you with extra protection above and beyond the maximum limits of your other business insurance policies.

GET A BANQUET HALL INSURANCE QUOTE! CALL 312-264-6055 OR CLICK HERE

ABOUT CACCIATORE INSURANCE

Jos. Cacciatore & Co. Insurance Agency began over 100 years ago with the core values of high ethical standards, education, exceptional service, trustworthy and competent advice to our clientele. We continue to uphold these values to bring you the best insurance program available at the most affordable cost. Our experienced staff will be able to accommodate any of your insurance request.

Jos. Cacciatore & Co. is a Member of the Society of Certified Insurance Counselor, Certified Risk Managers International and the Independent Insurance Agents of Illinois.