The brewing industry is growing. With growth comes risk, including potential business interruptions due to equipment breakdown, contamination costs and product recalls.
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Business Property
Liquor Liability
Equipment Breakdown
General Liability
Surety Bonds
Business Property Coverage
Risk Factors
Your company’s property is often exposed to risks such as fire, explosion, storms, theft, wind, vandalism, and other natural calamities.
Solution
This protects a company’s physical assets, such as buildings, contents, stock, and inventory, from fire, explosion, storms, theft, wind, and vandalism. Additional coverage for floods, earthquakes, and other direct causes of loss may be advised.
Liquor Liability Coverage
Risk Factors
Liquor liability insurance, also known as dram shop insurance, protects the liability of businesses that serve, sell, distribute, manufacture, or supply alcoholic beverages.
Solution
Liquor liability coverage is excluded from commercial liability insurance for businesses that generate a profit from alcohol. Liquor liability coverage fills this gap caused by the exclusion.
Equipment Breakdown Coverage
Risk Factors
Equipment breakdown can be severe or debilitating to small craft brewers. By nature of the brewing process, high pressures build up during the fermentation process, which can cause improperly maintained storage tanks and vats to break down or explode.
Solution
Most policies broaden the definition of “building” to include all equipment used in producing beer and other craft beverages. In unexpected quality issues, product withdrawal expense coverage is also available. In addition, equipment breakdown coverage helps to cover repairs or equipment replacement costs of properties damaged by broken equipment.
General Liability Coverage
Risk Factors
CGL craft brewery coverage covers claims occurring on-premises and off-premises, for instance, a brew fest. Examples of brewery liability risks include slips and falls on-premises or tripping on equipment at a beer festival, fire damage, personal and advertising injury, and copyright infringement on another brewery’s existing product.
Solution
A commercial general liability (CGL) policy protects you from lawsuits or claims arising from negligent actions that cause bodily injury and property damage to others. Brewery liability insurance includes costs associated with damages and legal fees.
Surety Bonds Coverage
Risk Factors
If your bonded brewery fails to comply with the regulations, the bond amount can be used to pay the fine imposed or other legal expenses.
Solution
Guarantee your brewery’s integrity, honesty, and legal and contractual compliance.
What is brewery insurance?
Brewers require a mix of standard business and industry-specific coverages. Brewers need insurance with industry-specific coverages and services that address the unique needs of food manufacturers and processors from production to delivery. The specifics of brewery insurance plan depends on the type of brewery (large brewery, microbrewery, craft brewery, etc.) and whether there is a tasting room, restaurant, pub, or other on-site operations like axe-throwing or lawn darts.
Why do breweries need Brewery Insurance?
As a proud manufacturer of stouts, lagers, and ales, you, unfortunately, must also prepare your business for unexpected events that can damage property, suspend production, injure customers or employees, and cause serious financial distress. Consider the following scenarios:
A batch is contaminated or spoiled and must be destroyed or removed from the marketplace. A customer is involved in an alcohol-related car accident after leaving your tasting room or brewpub. Vital equipment or machinery unexpectedly breaks down, leading to property damage, loss of inventory or product, and extended downtime. A customer, vendor or delivery person slips, trips, or falls on your property. Guests on your property damage equipment or other business property. Unfinished or completed beer leaks or spills from a storage tank. Weather events, fire, theft, or vandalism damages or destroys your building(s) and its contents. Beer in storage or in transit is damaged or destroyed. As you can see, risks for a brewery can come from all different directions. And because each brewery’s needs differ from another, you may need to combine a few different insurance policies and endorsements to properly cover your business.
Whatever it is you should be thinking about it when choosing your brewery insurance coverage. In any business, the things that happen that you didn’t prepare for can bankrupt your business without the proper coverage.
What type of insurance do breweries need?
Brewery insurance has the right recipe of coverages to meet the unique needs of your business. Standard property and liability coverages can be customized and blended to create specialized protection that delivers peace of mind while you focus on your next product or output cycle.
Some of the types of coverages that you should consider
Property, Equipment Breakdown and Business Interruption Coverages General Liability, Liquor Liability and Umbrella Coverages Product Recall Coverage Workers Compensation Auto Insurance Cyber Insurance Inland and Ocean Marine Coverages As your brewery grows, it will be important to regularly monitor your insurance coverage so that you have enough protection. Buying more equipment and hiring more employees, for instance, are likely to lead to higher insurance costs. Check in with us each time you’re looking at expanding your business.
Connect with us today to review your existing policies and see how much you could save on your insurance.
Already have Brewery Insurance? Switching is easy
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
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