Did you know there are over 2,300 breweries and brewpubs in the US? Gone are the days when big-name beer companies had a stronghold on the market—independent breweries are all the rage, and they’re not going anywhere anytime soon.
According to the Brewers’ Association director, Paul Gatza, independent breweries are popping up all over the place as quickly as one or more every day.
Home brewers think about taking their operation to the next level every day. Before you expand into your own full-blown brewery, make sure you have the facts when it comes to your brewery insurance needs.
Risks for Breweries
Imagine taking all of the risks of a manufacturing plant, and combine them with the risks of a bar—that’s essentially what you get when you examine the potential liabilities of a brewery.
Commercial general liability and commercial property insurance: both of these coverage policies are integral for brewery insurance, because of the expensive machinery necessary to run the operation. If a brewery’s boiler breaks, that can be extremely costly to repair or replace.
It’s also important that you’re not just insuring the materials used in the brewery’s operations, but the products made at the facility. If your brewery burns to the ground and you lose 5,000 gallons of beer, the materials used were just water, hops, and yeast—not particularly costly stuff. But you haven’t just lost what went into the beer, you’re losing profit on a product that you put a lot of time and effort into brewing, which is what you need to be insuring. Brewery owners should find insurers who agree that once a product is mixed, its value is reassessed and the brewery insurance coverage reflects the current retail price, and not just what it costs to make.
Workers’ compensation: another vital brewery insurance policy. Beer bottling is a dangerous procedure, and it’s easy to get hurt doing it. That’s just one of a number of jobs that are required in a brewery that have a high risk for injury. If a brewery owner doesn’t have adequate workers’ compensation coverage, it could close the brewery doors for good in the event that an employee is injured on the job.
Stay tuned for more about Brewery Insurance!