The basic bar activities of drinking alcohol and chatting with friends have remained the same since the days of America's earliest establishments in the 1600s. However, many other dynamics have shifted over time. Staying in touch with modern trends is a big part of providing bar and tavern insurance to clients in the new year. Let's take a look at some upcoming trends for bars and taverns.
Alcohol is both an added factor and an intensifier of all the risks that any establishment might face. For example, intoxicated customers are more likely to slip and fall, get into a fight, or wreck their cars on the drive home. Bar insurance needs can also vary based on the alcohol content of drinks. For these reasons, staying abreast of emerging drink trends is critical for insurance agents.
The following are some of the newest beverages that customers will be looking for on bar menus in 2024:
While non-alcoholic drinks, coffee, and biodegradable cups lessen risks, craft cocktails can contain a surprisingly high alcohol content. Likewise, CBD and alcohol can intensify each other's effects when combined, making customers sleepy and uncoordinated. The physiological effects of these drinks are variables that impact bar and tavern insurance.
Customers stuffing dollar bills into tip jars and throwing cash on the bar in payment are mostly scenes from the past. Today's bar-goers want to pay by tapping their cards or phones or inserting their chip cards. Yelling over the music to place an order is also becoming unnecessary as bars transition to contact-free ordering.
Digital orders and payments increase the one-way flow of information between patron and proprietor. After a night of drinking, customers leave behind a trail of product preferences that provide valuable insights for data analytics. This information not only helps inform an establishment's digital marketing efforts but also helps you offer comprehensive bar and tavern insurance.
Say goodbye to the limited bar themes of sports, neighborhood pubs, and discos. The latest trends incorporate these nostalgic stereotypes but add modern elements of luxury and technology. Expect to see comfortable and inclusive spaces, neutral colors, and high-tech smart lighting and sound systems.
Here are some of the specific trends to look out for in your clients' establishments:
Providing coverage at an affordable rate is the task in front of insurance agents in 2024. Rates are increasing, but so is the potential for liability, so it's essential to strike a balance. Some of the most important types of coverage to offer include the following policies:
Nothing is more pressing to your clients than their daily challenges during normal business hours. Contact RMS for more information about the bar and tavern insurance you can offer to mitigate these risks.
At RMS Hospitality Group, our expertly crafted policies are written specifically for the hospitality industry. We offer custom-tailored solutions to meet any venue's specific needs. For more information, contact our knowledgeable experts today at (888) 359-8390.
At RMS and associated firms, business continues as usual. Our staff is remote-capable and available to handle all partners, brokers, and insureds at the present time.
