A lot of passion, time and capital go into crafting top-tier beer. And while the brewing process itself poses little risk, a brewery’s business operations are exposed to a variety of unique risks that require specialty brewery insurance.
brewery-insurance-and-bonding is an essential component of protecting your brewery, from the smallest nanobrewery to a large-scale commercial operation. The right policy helps protect against a variety of events that could harm your business’s reputation and bottom line, including product contamination, supply chain interruption, and even the costs associated with having to recall products.
While many of the same coverages are necessary for any business, a brewery has additional add-on coverage options to consider. These include liquor liability coverage, which is a necessity for any business that makes or serves alcohol, and contamination-based loss coverage, which helps pay for cleanup costs and legal fees associated with the removal of contaminated stock.
It’s also important to have workers’ compensation coverage, which protects your employees in the event of work-related injuries. And if your brewery operates a restaurant or pub on site, you may want to explore product recall expense coverage, which can help cover the costs of informing customers and paying for personnel overtime in the event of a product recall.
Lastly, it’s worth discussing with your independent agent whether or not your business needs cyber liability coverage to protect against the data breaches that can occur with any business today. If you do have it, it’s crucial that your policy has adequate limits and includes the ability to restore data lost due to a breach.
A good independent insurance agent will understand the ins and outs of brewery-insurance-and-bonding and be able to explain which protections are best for your business. They’ll cut through the jargon and the fine print to make sure you’re getting the coverages that are a fit, all while helping you save on your premium.
Specialty brewery insurance combines elements of general business insurance, liquor liability and property insurance into one, simpler policy for your brewery. Depending on your business’s specific needs, other types of specialty policies might be included in the package such as commercial auto coverage for deliveries and inland marine coverage for equipment that moves between brewery locations.