Craft Brewery Insurance
A craft brewery business can be very lucrative. However, this venture has several risks. Business insurance for breweries helps cover claims from customers, product defects, repair costs, and many more. One that we recommend you try to get is craft brewery insurance.
Craft brewery insurance is a type of insurance that’s tailored for brewers who are just starting, have started, or have established their business. It comprises:
Worker's Compensation Insurance for Breweries
As a craft brewery business owner, you must ensure that your employees, even if not numerous, get the necessary help whenever they need it. And so, see to it that you have worker's compensation insurance. It might even be better if you get bartender's insurance because you will need it eventually.
Brewery accidents come in different forms such as amputations, electrocutions, chemical exposure, and carbon monoxide poisoning. When workers sustain severe injuries that permanently affect their lives, they could sue your business for damages. A court could order you to pay hefty settlements.Thankfully, the worker's compensation policy covers this.
Property Damage
Brewery insurance also covers property damage. Any damages to your business property are covered under this policy. However, it is essential that you clearly define what should be covered.
This is because the policy could cover things other than your production area and building. Being specific prevents covering items not prone to damages. By doing this, you don’t only get comprehensive insurance but also save costs for premiums.
For instance, if you have a liquor store on the site, you need to make sure that it is covered under your policy or take liquor store insurance .
Liquor Liability Insurance for Breweries
You can't talk about a brewery without including liquor in the topic. > Liquor liability insurance provides coverage for injuries and damages caused by alcohol intoxication. Even though you are not responsible for your customer's alcohol consumption, you could still be held liable if the damage is caused.
For example, if a customer drinks too much and ends up causing an accident, the victim could file a claim against your business. > Liquor store insurance will cover the medical expenses and legal fees.
It is important to note that liquor liability claims could be very costly. Your brewery business could lose a lot of money if you don't have comprehensive insurance.
Tank Collapse and Leakage
This is a brewery insurance program vital for your brewery business. Generally, tanks are one of the most significant investments when running a brewery. Tanks keep brews from spoiling, an incident that will cost your brewery it’s reputation and money.
This is why you should get an insurance policy that protects them. In case one gets severely damaged or collapses, it can result in a lot of losses. Besides, if the tanks have a leakage that you don't discover immediately, you could fail to deliver products to clients and consumers. Getting those tanks replaced or repaired right away is vital to keep operations going. An insurance that covers tank collapse and leakage will help you do so.
Equipment Breakdown
Brewery, winery, and other wine businesses require costly equipment to operate. Any damage to this equipment could hurt your business operations significantly. If you have just started and haven't raised enough money to replace the equipment, operations can get delayed resulting in major losses. This is why getting comprehensive winery insurance or equipment breakdown insurance is vital.
The equipment breakdown policy covers such cases and will fund all the repair costs. This helps your brewery or wine business get back on track no matter how dire situations might seem. Therefore, an equipment breakdown insurance policy should always be among top priorities aside from getting wine business insurance .
Commercial Auto Insurance for Breweries
If your brewery business owns vehicles, it is important to insure them. The commercial auto insurance policy covers your business vehicles in case of accidents and other damages. A company vehicle knocking down a pedestrian when making deliveries could result in lawsuits. Such cases often result in hefty court settlements that could hurt your brewery business financially.
Product Contamination and Spoilage Insurance Policy
Product contamination and spoilage insurance policy are also vital for your business. As a brewery business owner, one of the biggest headaches is discovering that your product has gone bad. All expired products have to be discarded, meaning all your investment goes to waste. This can result in significant losses. However, with this insurance policy, your business can recover from losses and improve errors.
