HOW MUCH IS BUSINESS INSURANCE
for Banquet Halls and Reception Facilities?

While the exact cost of your insurance depends on the size of your venue, the property you own, the number of people you employ, and other specifics related to your banquet hall business, we've provided these sample insurance quotes to give you an idea of how much your business insurance will cost.

These cost estimates represent the range of prices a typical banquet hall or reception facility can expect to pay for coverage, and are intended purely for illustration.

HOW MUCH IS
General Liability Insurance?

General Liability Insurance

Nearly every business needs General Liability Insurance. It's especially important for banquet halls because it covers the cost of a lawsuit when someone is injured on the premises. It also covers lawsuits over property damage, reputational injuries, and other basic business liabilities.

As the owner of a small banquet hall, you can expect your General Liability Insurance policy to cost between $1,276 and $1,835 in annual premiums.

Median policy premium:

$1,276 - $1,835

Median policy limit:

$2 million

Median policy deductible:

None

To see how the cost of General Liability Insurance for banquet halls compares with other industries, visit Insureon's General Liability Insurance Cost Analysis New browser window icon..

HOW MUCH IS
a Business Owner's Policy?

Business Owner's Policies

Business Owner's Policies (or BOPs) are an insurance package that can offer lower costs for qualifying banquet halls. BOPs bundle General Liability with Property Insurance together, which means you can get two important insurance coverages for less. BOPs aren't available to business that have large premises, so if your venue is too large you might not qualify for the discount.

The Property portion of your BOP can cover your building, furniture, catering equipment, sound system, electronics, and other property your company owns. When your commercial property is lost or damaged in a fire, theft, or a weather event covered by your policy, your policy benefits pay for the cost of repair or replacement.

The typical BOP costs banquet and reception halls $1,441 to $5,641 in annual premiums.

Median policy premium:

$1,441 - $5,641

Median policy limit:

$2 million

Median policy deductible:

$1,000

HOW MUCH IS
Umbrella Insurance?

Umbrella Insurance

Umbrella Insurance (also called Excess Liability Insurance) can help you pay for lawsuits when three of your other policies – Commercial General Liability, Auto Liability, and Employer's Liability Insurance (which is included with many Workers' Compensation policies) – reach their limits. When a policy is maxed out, you can file a claim with your Umbrella Insurance for additional expenses. Umbrella policies are available in increments of $1 million.

Umbrella Insurance policies often cost around $800 a year for a small banquet hall company.

Median policy premium:

$800

Median policy limit:

$1 million

Median policy deductible:

None

To see how the cost of Umbrella Insurance for banquet halls compares with other industries, visit Insureon's Umbrella Insurance Cost Analysis New browser window icon..

HOW MUCH IS
Liquor Liability Insurance?

Liquor Liability Insurance

Because banquet hall businesses often supply alcohol for wedding receptions, dinners, and other events, they need Liquor Liability Insurance to protect them from lawsuits. If intoxicated attendees get into an accident or damage property, the owners could be sued for providing the alcohol.

Liquor Liability Insurance often costs between $644 and $1,066 in annual premiums.

Median policy premium:

$644 - $1,066

Talk to your agent about your options for deductibles and policy limits to get an idea of what's available.

Free Quotes on Banquet Hall Insurance

Free Quotes on Banquet Hall Insurance

Because the cost of banquet hall insurance depends so much on your location, the size of your venue, and the kind of events you host, it's smart to talk with an insurance agent to get a more accurate cost estimate.

Submit an online insurance application, and an insureon banquet hall agent will email you free, no-strings-attached quotes tailored to your business.

Grab-n-Go Information

food services eBookS
Download free eBooks and in-depth guides on growing your business and keeping it safe.
Browse eBooks
Sample certificates
See a sample Certificate of Liability Insurance, the proof of coverage you need for most contracts.
Download pdf
Sample Quotes & Cost Estimates
See what insurance really costs: actual quotes by policy & specialty.
Learn More
Ask A Question
Submit your questions about restaurant insurance and get answers from our experts.
Learn More