Our process
We don't just get a single renewal quote. We shop it around.
We get multiple quotes from competing carriers and compare them on coverage structure, not just price.
The short answer
Most owners only ever see one number at renewal, the one their current carrier sent. We bring back real options from competing carriers.
Then we compare them on what they cover: the assault and battery treatment, the sublimits, the warranties, and not just the premium.
See the proven facts
| Account | Was paying | With IFB | Saved |
|---|---|---|---|
| Restaurant in FloridaIFB bound | $143,451.85 | $94,913.50 | $48,538.3534% less |
| Bar in FloridaIFB quoted | $14,562.21 | $9,979.99 | $4,582.2231% less |
| Bar in New York CityIFB quoted | $70,836.32 | $40,741.81 | $30,094.5142% less |
| Restaurant in New JerseyIFB quoted | $27,233.85 | $11,147.20 | $16,086.6559% less |
Same coverage or better, at a lower premium. Every account is different, what we quoted for these does not set what we can do for yours, and a review costs nothing either way.
What re-marketing an account involves
- Build the submission. Hours, entertainment, security, training records, claim narratives, and what changed after any loss. A complete submission earns better terms than a thin one.
- Go out wide, and go out first. Once a market declines a risk it is blocked for the term, so reaching the right carriers early matters more than reaching many late.
- Compare structure, not just price. Assault and battery treatment, sublimits, whether defense costs sit inside the limit, premises restrictions, and any warranty endorsements.
- Present the real options, including the ones where paying slightly more buys materially better protection.
Please call before your renewal notice lands, not after it. The earlier an account reaches us, the more carriers we can approach before your date.
Two quotes at the same premium are often not comparable
One may carry assault and battery at your full liability limit with defense paid in addition. The other may carry a sublimit, with defense costs counted inside it and coverage limited to incidents on the insured premises. Same price, very different policy. This is the comparison most owners are never shown.
What drives a bar or restaurant premium
- Alcohol sales, and the ratio of alcohol to food receipts
- Closing time, and whether you hold a late-night license
- Entertainment: DJs, live bands, dance floor, promoted events, cover charge
- Capacity and security staffing
- Loss history, particularly any assault and battery activity
- Whether required licenses are in effect for the whole term
- Server training and certification records
Your premium is a deposit, audited later
Liquor liability premium is driven by sales, and the premium shown at the start of the term is an advance deposit that gets audited against what you actually did. When sales fall, the audit is the mechanism that should follow them down. During the pandemic closures we went back to carriers on accounts that were closed or running at a fraction of normal volume, and got premium back for those clients. If your sales dropped and your premium did not, that is worth a conversation before renewal.
Why most owners only ever see one quote
This comes up on almost every first call. An owner says his broker told him the other quotes never came in, or that only one or two carriers write his class. Sometimes that is true. Often it is not, and there are two ordinary reasons for it.
Carriers do not all pay the same commission
Commission rates differ from carrier to carrier on the same account. So a broker holding two quotes does not always hold two neutral options. The lower-premium quote can be the one that pays the broker less. Not every broker works that way, but the incentive exists, and it is worth knowing about before you accept that only one number came back.
If moving you to a cheaper carrier saves you $10,000 and pays us less than the alternative, we would rather have the client for the next ten years.
“Only two carriers write my class” is worth testing
An owner we met recently had been told there were only two markets in his state that would write his type of business. We went to our markets and several of them said they would quote it. Whether those turn into real numbers depends on the account, but two was not the ceiling. If someone has told you your class is unwritable, that is a claim you can test at no cost.
How switching brokers works
If you decide to move an account, the mechanism is a broker of record letter. It is a short letter you sign saying you want a different broker to handle the account with the carrier. It does not cancel your policy, it does not restart your term, and it does not change your coverage. It changes who services it. We mention it because owners often assume switching brokers means switching policies mid-term, and it does not.
One related note, because it is the honest version. Once a carrier has been approached on your account, that market is generally locked to whoever reached it first for that term. So two brokers submitting the same account to the same carriers does not double your options. It burns them. That is why we ask for the letter rather than duplicate a submission.
Related coverage
Assault and battery
How a fight at your bar is treated, and how to find the endorsement in your own policy.
Liquor liability in Florida
What dram shop means, how the two limits work, and the exclusions that matter.
Who we insure
The venues we write, the states we are licensed in, and where our offices sit.
Non-renewed or declined
What changes after a non-renewal, and how the account gets placed again.
Alcohol training warranty
The clause that can void a liquor claim if a server was not certified.
Nothing to lose.
A policy review costs you nothing and takes one conversation. Please call today, do not wait until your renewal notice.
Get a free policy review
Michael Sabino, President, Independent Food & Beverage Insurance Brokers, Inc.
In the insurance business since 1984, rating policies and handling claims before he ever sold one, and writing restaurants, taverns, nightclubs and social clubs since he founded IFB in 1993.
About this page. General information for restaurant, bar and nightclub owners, not legal advice or a statement of coverage. Policy language varies by carrier and state, and only your own policy forms and endorsements control what is covered. IFB is a licensed insurance brokerage. Coverage cannot be considered bound or altered until you receive written confirmation from our office.