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Distillery Insurance: Cost, Companies & Quotes From $5

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A distillery business can be very profitable given the high demand for alcoholic drinks. However, running this business has its fair share of risks. Therefore, you must get distillery insurance to guard against drawbacks. 

This article discusses distillery business insurance in detail and what it entails. We will also mention its cost and the factors that influence it.

Distillery Insurance Cost

The average cost of distillery insurance is $71 per month or $850 annually for a basic general liability coverage. It is important to note that a wide range of factors influence the cost of distillery insurance. Some of them include;

Type of Insurance

Like any other insurance, distillery insurance has different types of policies. The type of policy you choose affects the total cost. If you want comprehensive distillery insurance, you will have to spend more. This is because comprehensive insurance covers a wide range of claims. On the other hand, standard insurance - those that comprise one or two policies only- don’t cost a lot of money. 

As standard insurance is right for a small distillery business. On the other hand, large ones need comprehensive insurance. You must choose the right insurance cover for your business by consulting online insurance agents. Choosing a standard insurance policy when your business needs a comprehensive policy might be a waste of money.

Size of Distillery

The size of your distillery also influences the cost of insurance. If you run an established distillery business with several branches, you need comprehensive insurance cover as risks are numerous.

However, if you operate a small distillery business, you don't have to spend much on insurance. The risks that come with a small distillery business are lower than those of an established one.You can even opt to pay for a price lower than usual if you share your space with another business through coworking space insurance.

You must provide accurate information when applying for distillery business insurance. Be very truthful about the size of your business. Giving false information can save money but it will not help the moment you file a claim for insurance coverage. 

Number of Employees

The number of employees of your distillery business also plays a vital role in determining the cost of insurance. More employees means more people to cover , and therefore heftier costs for insurance. On the other hand, if you have fewer employees, the cost of insurance could be cheaper. 

Working in a distillery poses a great risk to the employees’ welfare. Apart from workplace accidents, employees are also exposed to other health hazards. In case an employee sustains severe injuries or gets sick while working, you have to cover their medical expenses. 

A comprehensive insurance policy will help cover such instances.Ideally, you should get  coverage that accounts for workplace related injuries, product liabilities, and employee benefits. 

Also, try getting plumbing insurance  for employees who are in charge of fixing and replacing your distillery's drainage and pipes.

Revenues  

The amount of money your distillery business makes also influences the cost of insurance. The higher the income, the more you spend on insurance. A distillery business that makes thousands of dollars  it is established and highly valuable. When it’s highly valuable , it’s big. Therefore, there’s more risk and with more risk, comes expensive premiums. 

It will help if you get a comprehensive insurance cover that matches the value of your business. This is why having a solid idea of your gross income plays a vital role in determining the cost of insurance.

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Related: Bartender Insurance

Best Distillery Insurance Companies

Many companies offer distillery insurance. Given the many options, you could have challenges choosing the right company for your needs. For that reason, we have sampled some of the best distillery insurance companies you should consider working with. They are;

Whalen Insurance

Since the 1980s, Whalen Insurance has been a trusted company for distilleries and breweries alike. This company continues to provide comprehensive insurance coverage that your business needs. 

Apart from tailored insurance offerings, Whalen Insurance has recently partnered with a leading company to provide even better services. Their broad experience in the industry also makes them a worthy candidate to consider.

Whalen Policy Details

Whalen offers comprehensive insurance coverage that includes liquor liability, property damage, worker's compensation, equipment, and many more. By the , way if you're running a wine business aside from a distillery,  try contacting Whalen customer support if there's coverage available. 

Pros
  • Diverse experience

  • Dedicated service

  • Tailored insurance cover

Cons
  • Not available in some countries

Average cost: $195 per month.

Best for: Start-up distillery businesses

Peterson Insurance Company

This insurance has been in existence for several decades. Peterson Insurance understands the unique risks you face in your distillery business. It offers coverage specifically for wineries, distilleries, liquor shops, bars, restaurants and breweries. This company is also prepared to help you with hands-on claims service and risk control.

Peterson Policy Details

With Peterson Insurance, you will enjoy a comprehensive insurance cover. They have tailored policies that protect your distillery business from various claims. 

Pros
  • Affordable

  • Tailored insurance cover

  • Fast claim responsiveness

Cons
  • Limited to a few countries

Average cost: $210 per month

Best for: Established distillery businesses

JMW Insurance

JMW Insurance has been in operation for over 80 years. Over that period, it has built an unbeatable reputation for expertise, experience, and customer satisfaction. JMW offers insurance cover for different businesses, including distilleries. If you are looking for affordable yet valuable insurance, you should consider JMW.

JMW Insurance Policy Details

JMW offers insurance cover and other related coverage to all kinds of breweries. Whether you are a small distillery or an established one, you will get insurance cover that suits you. 
Pros
  • Excellent customer service

  • Tailored insurance cover

  • Affordable

Cons
  • Limited to some states

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