Nightclub Insurance in Canada

[Darrellt]

I'm looking into opening a Nightclub in British Columbia Canada, I'm getting crazy quotes on insurance rates. Just wondering if anybody from BC posts or reads this board to see what kind of rates they may be paying. Capacity is 430 people. Let me know.

Darrell

[David]

How many companies have you contacted on providing quotes?

Insurance, in this business, is outrageous compared to any other business out there. It use to be OK to only carry a Million Dollar liability policy, but not any more. It's more in the two to two point five million range.

I'm not trying to burst your bubble. Just be prepared to get high quotes. If you do get one that is really out of line from the others, question it. You might not be comparing apples to apples.

[Darrellt]

I have been quoted between $30,000.00 - $35,000.00 based on 2 million liabilty, and 1 Million in gross sales, all the other requirments. Llyods of London seems to be really the only carrier for Nightclub insurnace in Canada.

[joe1980]

Hey Darrell I own a nightclun in Vancouver B.C. I was just wondering which insurance company gave you that quote?

[Darrellt]

Barton's Insurance company, but then they called me back and quoted me $15,000.00 - $20,000.00. Who do you use?

[joe1980]

I use Godoys Only Insurance. Do you have a contact for Bartons? To be completely honest with you Darrell that is an excellent quote that you received. Also where is your club located? I look forward to your reply.

[beeker]

I am currently in BC have been in business here for 17 years.
Insurance continues to go up no matter what. I have never had a claim. Four years ago I was paying $7000, then $9000 now I am paying 26,500. Honestly.... this business, in British Columbia...head for the hills man.

[Bull]

Wow, are we getting off easy. $6000 for a comprehensive package on 400 Cap. Talk to your agent. You might be able to negotiate something better if you're willing to go the extra mile. The cost of installing digital video surveillance might reduce your liability risk to the point where it will pay for itself. Fire suppression also helps. Think of the fire in Rhode Island and the disaster that could have been prevented. That type of exposure is what insurance companies fear most.

Funny thing is that insurance for our same establishment with a "restaurant/nightclub" liquor permit was 1/10th the cost of a nightclub permit.

[Darrellt]

Where do you live in Canada?

[beeker]

I am located in Castlegar

[Neill]

Originally posted by beeker
I am currently in BC have been in business here for 17 years.
Insurance continues to go up no matter what. I have never had a claim. Four years ago I was paying $7000, then $9000 now I am paying 26,500. Honestly.... this business, in British Columbia...head for the hills man.

I'm in Ontario and we are in the same boat. Insurance is ridiculous. We do alot of concert type events now, and our a signifigant chunk of our budget goes to insurance. Unfortunately theres nothing you can do! :(