Insurance For Distillery and Craft Brewery Owners
Distillery and Craft Brewery owners must have the right types of insurance to protect their business from liabilities. A general liability insurance policy will cover bodily injury, property damage, advertising injury, and other accidents arising from the operations of the business. For example, if your brewery sells beer, you may be held liable for injuries resulting from beer-related activities. The risk of injury increases when the alcohol is served.
A liability insurance policy can be a lifesaver for a craft brewery. For example, it will cover the cost of repairs if a visitor tripped on the piping. Another type of insurance for a distillery will cover medical bills if an employee falls off a grain dolly and crashes into a customer’s car. In the event of a liability claim, the policy will cover legal fees, and the amount of damages awarded in a settlement.
Another type of insurance for craft brewers is general liability. This will cover direct costs and legal costs if an accident caused a visitor to get hurt on your property. This coverage also covers business issues such as advertising and libel. For example, you may have equipment failures in your craft brewing business. This could put a serious damper on your operations. In such an event, general liability will protect your breweries from financial damage.
Additionally, it is important to recognize that the risks associated with a craft brewery are not limited to property damage and personal injury. You can choose to include coverage for other business activities, including the sale of merchandise. It is also important to remember that liability coverage for a craft brewery varies depending on the type of alcohol produced and sold. For example, a brewer may sell beer in bottles and sell it in kegs while another might sell beer in bottles. Moreover, the two types of breweries can be classified differently, and this can also affect your insurance rates.
There are several types of liability insurance for a craft brewery. For example, you should have a liability policy that covers both liquor and alcohol. In addition, a general liability policy will cover the costs of an accidental loss. For example, a policy may cover a brewing brewery for up to $500,000. However, a separate brewery for a distillery might have an additional limit of $100,000.
There are many risks associated with the beverage industry. The most important is safety. Unfortunately, brewing and distilling are not completely accident-free. Without the right insurance, you could end up losing everything, including your business. In fact, the average American distillery spends between $500 and $1,200 annually on general liability insurance. The cost of such insurance is largely dependent on the size and scope of your business.