3 Important Insurance Considerations for Commercial Breweries
- How do you intend to interact with the general public?
Will you offer brewery tours or have a tasting room? Both of these elements, while great for marketing and generating growth, come with their share of risk, and need to be considered when purchasing insurance. Fortunately, most general liability policies will cover this exposure, but you will want to work with your agent in selecting the appropriate limit for your business.
- Is your brewery equipment adequately protected?
Your brewery equipment is your most critical asset, and you want to make sure it is protected against a multitude of perils. Some specific coverages you should consider:
Tank Collapse coverage: Covers the cost of a tank that collapses due to accidental implosion. This typically is not covered under a standard property coverage form.
Boiler & Machinery Coverage: This is an important optional coverage to protect your boiler equipment in the event of a breakdown or accidental explosion, as boilers are typically excluded in standard property forms.
- What is your product liability exposure?
Fortunately, product liability exposure for a product like beer is fairly minimal. The most common exposure that exists is food contamination that can force a product recall and possibly cause food-borne illness to consumers. It is still important to ensure that you have protection for this exposure.
It is important to review your insurance program with your insurance agent every year to “insure” that your insurance program is up-to-date and adequately protects all of your business assets. Please reach out to me if you have any questions, we’re happy to help with these very important topics.