Liquor Liability Insurance for Special Events

Liquor Liability Insurance

Alcohol is a normal part of big celebrations. But when alcohol is involved, accidents tend to happen. That’s why liquor liability insurance is important for special events. 

Whether you’re planning a business event (like a fundraiser or big function), or a personal event (like a wedding or anniversary party), you may need liquor liability insurance. 

What Is Liquor Liability Insurance?

Serving alcohol to guests at a special event can be risky. It’s important to consider that your guests could drink a few too many alcoholic beverages and start behaving inappropriately. 

Liquor Liability Insurance

This could potentially result in one of your guests hurting themselves or someone else, or damaging property during your event. 

You could be held financially responsible if these situations occurred at your event. If you served alcohol to the guest that caused the damage, you might end up paying the cost. 

That’s why smart event hosts who plan on serving alcohol to their guests protect themselves with liquor liability insurance. 

What Situations Are Covered?

  • Bodily injury: If a guest at your event drinks a little too much and hurts himself or another guest, this insurance keeps you from paying the price. 
  • Property damage: If a guest you have served alcohol damages property in the venue you’ve hired, liquor liability insurance covers the cost of repairing the damage.
  • Medical costs: Imagine if a guest of your special event ends up in hospital with alcohol poisoning. Liquor liability insurance covers you from having to pay hospital bills.
  • Legal costs: Guests could potentially sue you if an intoxicated person damages their belongings at your event. Liquor liability insurance will help you with the legal costs of lawsuits. 

Talk to an Insurance Broker About Liquor Liability Insurance for Special Events

As part of the proper planning for your special event, it’s wise to make sure you have liquor liability insurance. Prince Insurance Group will brew up the right liquor liability insurance to protect you from problems caused by alcohol at your event. Contact us today!

Life Insurance for Extreme Sports Enthusiasts

Life Insurance

Colorado is a great place to be if you love outdoor adventures. With millions of acres of rugged terrain, it’s a year-round wonderland for extreme sports enthusiasts. However, there is also no shortage of risks, so if you enjoy living life on the edge, talk to our agents about life insurance.

Whether you enjoy mountain biking on Rocky Mountain trails or taking in incredible views while hang-gliding, there’s always an adventure to be had in this beautiful state.   

Part of the excitement of extreme sports is the risk factor. But it’s important to have a plan in place should something go wrong while adventuring in the outdoors.   

Life Insurance

Consider the Financial Security of Your Family

If you have a spouse, children, elderly parents, or any other dependents who rely on you financially, you’ll want to invest in their future should something go wrong. 

Life insurance can protect your family upon your passing. It can be used to make sure that your loved ones have everything they need to have a safe and financially secure future, even when you are gone. 

What Does Life Insurance Cover?

Having a life insurance policy means your family won’t be left in a bad financial situation when you pass away. Some of the things that life insurance covers are:

  • Burial expenses: Funerals cost a lot of money, and you don’t want to burden your family with this huge expense when you pass. 
  • In-home labor expenses: Your family might need help with things like cooking and cleaning when you are no longer there to look after them. 
  • Family living expenses: You want to be sure that your family has everything they need to be financially comfortable without your support. 
  • Children’s college expenses: Life insurance makes sure your children’s futures are full of opportunity. 
  • Mortgages: Make sure your family is left with enough money to keep your home. 
  • Student loans: A life insurance policy will ensure that your loved ones aren’t burdened by your debt. 

Contact a Prince Insurance Broker about life insurance

Having a life insurance policy allows you to enjoy all of the physical extreme sports that Colorado has to offer – while knowing that your family is protected. Prince Insurance group can help you find the best life insurance for your lifestyle and needs – with flexible options and unbeatable service. Contact us today!

Upgrading Your Home Owners Insurance after Remodeling

Illustration of a house representing comprehensive insurance coverage in Colorado

So you’ve made some gorgeous renovations to your home… but have you considered how this will affect your home insurance policy? Certain types of remodeling can mean you need to upgrade your home owner insurance to stay covered. 

When You Need to Upgrade Your Home Owner Insurance

The past year and a half have made us all aware of the limitations of our homes. Many have taken this time to make some essential and luxurious upgrades. There are four home remodel projects that may require upgrading home insurance policy. Let’s take a look.

Home Owners Insurance
A new pool will require an upgrade to your home owner insurance policy.

When You’ve Expanded Your Living Space

As your family expands, your home needs to as well. Whether you’ve renovated the attic or spruced up the basement as living spaces, or added more square footage to your home, you’ll want to check how this affects upgrading home insurance. 

Some expansions can add to your home’s value, so you’ll want to be sure that value is covered by your home insurance. 

When You’ve Added a Home Office

If you’ve started a home business and added an office to your home, you might need an update to your current home insurance. Speak to a broker to make sure that your policy protects the equipment in your office and to check if you might need business coverage. 

When You’ve Renovated Your Kitchen or Bathrooms

You’ve put a lot of money into those beautiful new kitchen cabinets and countertops. Your renovated kitchen adds extra value to your home, and you’ll want to be sure that your insurance covers that value. If you’ve updated your plumbing in the kitchen or your bathrooms, you might qualify for insurance discounts. 

When You’ve Added a Pool

Pools are a great addition to a home, but can also be a bit dangerous. Speaking to one of our friendly brokers can ensure that you have the right liability coverage to protect you from lawsuits, or any physical injuries that happen in or around the pool. 

Contact an Insurance Broker to Talk About Home Insurance Upgrades

After expanding your property or the value of your home, talk to a broker to make sure your home insurance has still got you covered. Prince Insurance Group helps you find the right insurance for your needs – with flexible options and unbeatable service. Contact us today!

Overlooked Essential Restaurant and Bar Insurance

For businesses within the hospitality industry, there are several types of insurance you might consider getting. In particular, if you are the owner or manager of a bar, club, or restaurant that serves liquor, you will want to consider getting assault and battery insurance. This type of restaurant and bar insurance is often overlooked.

Why You Need Special Bar and Restaurant Insurance

Although most of the time, bars, clubs, and restaurants are places where people go to relax and have fun, things can sometimes go wrong. People can become confrontational and may start to shout or become physically violent, which can lead to injuries.

In cases where a patron gets injured during a physical confrontation, the bar, club, or restaurant can be held responsible for it. This can incur large financial costs.

Restaurant and Bar Insurance

Assault and battery insurance can cover some of these costs when this happens, depending on the particular circumstances of the conflict.

This form of insurance is particularly important when the company sells alcohol. Intoxicated individuals may be more likely to become aggressive or violent in a conflict. The business may be held partially responsible for the actions of the intoxicated patron because they have technically allowed them to get drunk by selling them alcohol.

Protection Provided by Restaurant and Bar Insurance

What protection do you get from assault and battery insurance?

Protection for Bar Fights

If a fight breaks out in the bar, club, or restaurant, somebody could get physically hurt. If they make a claim for their injuries, assault and battery insurance can help to cover some of these costs.

Protection for When Somebody is Removed From the Premises

If somebody has to be physically removed from the building by a member of the management or security teams, it can lead to issues down the line.

Sexual Harassment Claims

If sexual harassment claims are made against another patron or an explorer, this insurance may cover any legal fees and compensation that needs to be paid.

Contact one of our brokers to talk about what type of bar and restaurant insurance you need to protect yourself and your staff from the unexpected. 

Jewelry Insurance for Valuables Not Covered in Home Insurance Policy

jewelry insurance

We all know that jewelry can be expensive — engagement rings alone can cost an arm and a leg. Not only would losing a piece of pricey jewelry be devastating because of the financial loss, but it likely has some emotional significance and sentimental worth. Jewelry insurance can reimburse those who have their jewelry stolen from their home, damaged, or if it completely disappears. 

Unfortunately, jewelry insurance is not included in home insurance policies. This means that it needs to be added to an existing renters or homeowners insurance policy or bought directly through a jewelry-only insurance company.

Jewelry Insurance
Protect valuable jewelry and heirlooms with jewelry insurance.

Jewelry Insurance vs. Homeowners Insurance

Home insurance covers any damage sustained to the inside or outside of the home, theft of possessions, and protects homeowners from being liable if a guest is injured in their home. But for people who own valuable items, heirlooms, and expensive jewelry, will benefit from special insurance coverage. There are few things worse than flushing an uninsured wedding ring down the toilet. 

Jewelry Insurance Floater

An insurance broker can help people find the correct additional coverage or add specific items to their existing home insurance. Additional coverage, also known as a jewelry floater, gets added directly to homeowners or renters insurance. This typically costs about 1 to 2 percent of the total value of the jewelry being insured — it’s a small price to pay with a big reward if the item ever gets damaged or lost. 

For example, a $5,000 diamond necklace or ring would cost around $50 per year to insure. Jewelry owners can either get reimbursed the cash value (including depreciation) or given the replacement cost if the piece of jewelry goes missing. 

Most jewelry floaters come with an additional premium, so insurance brokers often offer customers discounts on the insurance plan. 

Get a quote!

Liquor Liability Insurance for Your Bar or Restaurant

Don’t be held liable for intoxicated patrons. If your establishment serves alcohol, liquor liability insurance is a must. Whether you have a bar, restaurant, café, or nightclub, you’ll want to make sure you have this type of insurance in place. 

Here Are Two Important Reasons Why You Need to Get Liquor Liability Insurance

1. Protection in Case of Accidents Inside Your Establishment

What would you do if someone you served in your bar or restaurant started a fight and assaulted another customer? How about if that person broke another customer’s personal belongings?

If an intoxicated person causes bodily or property damage inside your establishment after you’ve served them alcohol, you could be held responsible for the damage. 

Liquor Liability Insurance
If you sell, serve, or manufacture alcohol, then you need liquor liability insurance.

General liability insurance won’t cover situations like this, but liquor liability insurance will. You’ll get help paying for:

  • The cost of legal help
  • The cost of settlements 
  • The cost of repairs to damaged property
  • The cost of medical bills for injured parties.

2. Protection in Case of Accidents After Patrons Have Left Your Establishment

When an intoxicated patron leaves your bar or restaurant, you could still be held responsible for any damage they cause. 

If a patron that you served alcohol to gets into a fight and injures someone, your business could be held accountable. If an intoxicated patron decides to drive their car home and hits someone, it could be you that pays the price. 

It’s important to protect your business from the massive costs that a lawsuit would entail. Liquor liability insurance gives you that protection. 

Contact a Broker

Accidents happen when alcohol is involved. If your establishment serves alcohol to its customers, you need liquor liability insurance. 

Prince insurance can help you find coverage that’s specifically tailored to your industry and insurance needs. Contact us today for a quote!

5 Undeniable Reasons Why Your Business Needs Cyber Insurance

Cyber Insurance

Cyber insurance covers your business in the event of a data breach, virus, or other cyber attacks. It’s something that all businesses should have, and it could save your business from going under completely.  

Cyber Insurance

Cybercrime is the world’s fastest-growing crime. According to the National Law Review, in 2021, cybercrime damages are expected to reach a jaw-dropping total of $6 trillion. 

Nobody is immune to cybercrime and the severe damages it can cause. Businesses today are always certain to have insurance for their property, but might not put any thought into cybersecurity. Here are 5 undeniable reasons your business needs cyber insurance.

1. Small Businesses Are at the Greatest Risk

Cyber Insurance
If you have proprietary, personal, or financial data talk to a broker about cyber insurance.

If you think that cyber-attacks only affect large companies, you couldn’t be more wrong. In fact, 61% of data breaches happen to smaller businesses, according to USA Today. What’s more, data breaches result in 60% of startups going out of business in under 6 months. 

2. Your Data is Valuable to Your Business

The data that your business collects is more valuable than the equipment you have storing it. Cyber insurance covers the costs entailed in restoring your valuable data after you experience a data breach. 

3. There Are Severe Penalties for Data Breaches

You could be forced to pay hundreds of thousands of dollars if your business experiences a data breach. Merchant service agreements hold businesses liable for the costs involved in a forensic investigation, re-issue of new credit cards, and credit card amounts lost. Cyber insurance covers those costs. 

4. Electronic Downtime is Extremely Costly

What happens if your whole system goes down? Standard business insurance won’t cover the lost profit that an electronic system downtime creates. Cyber insurance gives you coverage for the money your business could have been making while the system was down. 

5. Your Reputation is Your Best Asset

People will not be happy with your business if a data breach causes their information to be compromised. Cyber insurance covers the costs of lawsuits that could occur, as well as helping to pay for a PR firm to help restore your reputation. 

Contact an Insurance Broker

If you have sensitive data from clients, businesses, and employees online, or if your business does any online communication, you need cyber insurance. 

Contact a friendly agent at Prince Insurance to find the cyber insurance that’s right for your business and request a quote. 

Do You Need Jewelry Insurance?

Exquisite ring and pearl bracelet, safeguarded by jewelry insurance, ensuring protection for your valuable treasures

Buying jewelry is a big deal. It’s an investment, and one that many people spend a lot of time and effort choosing, so it’s not surprising that many people want to protect their investment. That’s where jewelry insurance comes in. It’s an easy way to ensure that you are protected if anything happens to your jewelry. Whether it’s stolen, lost, or damaged, jewelry insurance covers the cost of replacement or repair.

Why You Need Jewelry Insurance

Filled with all sorts of precious and semi-precious gems, jewelry is a central part of many people’s lives. It’s what helps to personalize your look, and it is often the most valuable material possession you’ll have. That’s why it’s important to have jewelry insurance for your precious stones and metals. Expensive jewelry is the most sought-after item in home invasions and robberies. If you have precious stones and minerals, you not only need to protect them from theft but also fire and other types of natural disasters.

One of the many reasons to purchase jewelry insurance for a wedding ring is to protect your investment.

What is a Floater Policy for Jewelry?

A floater policy is a policy that covers a specific item of your choice, be it a piece of jewelry, a painting, or a musical instrument. It is important to note that a floater is a different type of insurance from a homeowners insurance policy, which covers your home and its internal contents. With a floater, the insurer will pay the full value of the item if it is lost, stolen, or destroyed. For example, the policy covers jewelry damaged by a fire or flood, and accidental loss in public areas such as in a pool drain or at a hospital facility.

Contact an agent at Prince Insurance to discuss your options for jewelry insurance and personal floater insurance.

Risks of Running a Business Without Insurance

Modern restaurant interior with tables, chairs, and cozy lighting, representing a thriving Colorado business covered by restaurant insurance.

If you’re starting a new business, one of the first things you’ll want to do is consider the different types of insurance coverage you need. A business owner can protect against a number of common risks, including property damage, injury, and liability. You’ll need to protect your personal assets (your home, car, and personal belongings) from business-related liabilities, and you’ll also need coverage to protect your business assets from claims by customers and other entities.

Risks Without Business Insurance

Running a business without insurance is never a good idea. Not only can you potentially put your personal assets at risk, but you may also be putting your business at risk as well. There are several risks to running a business without insurance, including the risk of lawsuits, property loss, and liability issues. In case anything goes wrong, having business insurance could save your business.

While you may think that protecting your assets would be enough to get your business started, you can’t afford to overlook the other legal obligations that comes with opening up shop. For instance, you may need to cover your employees with workers’ compensation insurance, which is a state-mandated insurance plan that covers medical expenses and replaces lost wages in case of work-related injuries or illnesses.

office team
Insurance gives you peace of mind that you, your employees, and customers are all protected in the event of an accident occurring on the physical premises.

Business Insurance Benefits

Business insurance is not only necessary for protecting your personal assets, but there are many financial benefits of owning a business that can be protected by insurance. Business insurance protects your company’s physical assets and financial assets, including your building, equipment, inventory, and income. And it protects you from liability for personal injury and property damage.

Get a quote for a business insurance policy today.

Looking for the Value in Your Insurance Policy

If you have taken out an insurance policy, you are most likely interested in getting value for money. It is important that you do not think of your insurance policy as a one-time expense but rather as a long-term commitment to maintaining yourself and your family’s financial well-being. Much like the car you drive, even if you keep the same car for many years, you still pay maintenance costs and repairs along the way. You should be doing the same when choosing insurance.

Choosing Insurance

Unfortunately, many people looking for insurance simply rely on the price of the policy when choosing a provider. This is a mistake that can end up costing you a lot of money. Price is important, but it should not be the only consideration when choosing an insurance policy.

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Your insurance policy doesn’t necessarily need to be expensive to receive coverage suitable to your lifestyle.

Assess Your Lifestyle

Choosing an insurance policy and an insurance broker is a serious decision and not one you should make lightly. There are many factors to consider when looking for the right insurance policy, and you will likely want to take your time to ensure you are making the best decision possible. The first thing to consider is how often you’ll use your policy and what kind of activities you’ll be engaging in. Do you have young kids? Are you planning to travel overseas soon? Do you do a lot of skiing? Do you bike or drive often? How do these activities factor into your insurance needs?

An insurance broker can create a full portfolio to cover everything, personal and professional. The Prince Insurance group has access to multiple carriers to find the best insurance for every aspect of your life. We work for you, not the insurance company.

Contact an agent at Price Insurance for help choosing insurance and to receive a quote.