Microbreweries face a variety of risks, including several that most businesses face and some that are unique to the beer industry. Microbrewery insurance helps breweries in Massachusetts protect themselves from many of the risks they face.
Microbrewery insurance is a specialized form of insurance that’s specifically made for breweries. It’s normally underwritten as a package policy, meaning that a single microbrewery policy can have multiple individual coverages within it. Exactly what individual coverages are included in a policy can usually be adjusted to meet a particular brewery’s needs.
Because microbreweries have many and varying insurance needs, insurers offer a variety of coverages that can be included in craft brewery insurance policies. A few that many breweries opt to get are:
A number of these coverages are available as separate, stand-alone policies. Purchasing them individually, however, would be a complex process. Each policy’s protections would have to be compared with those provided by other policies to make sure there aren’t any coverage gaps. Getting all coverages through one package policy is much simpler.
Additionally, breweries can frequently save money by purchasing multiple coverages through a package policy. Most insurers’ premiums for microbrewery policies are lower than the sum of the premiums for each policy if they were all purchased separately.
Craft brewer insurance can include many different insurance coverages, but policies normally don’t provide workers compensation, disability or health insurance. These coverages usually must be purchased separately.
Most mid-sized and small breweries in Massachusetts should consider purchasing craft brewery insurance. It’s an affordable way to protect these businesses from many of the potential threats they face.
Larger breweries also should have insurance policies that provide industry-specific protections, but craft brewery policies might not offer all of the protections that Massachusetts’ biggest breweries need. To make sure all of their insurance needs are met, large breweries should talk with an insurance agent in the state about what insurance solution might be right for them.
Likewise, wineries and distilleries should talk with an insurance agent about their particular situation. While wineries and distilleries have some insurance needs that are similar to those of breweries, but wineries and distilleries also have other, different needs. In most cases, there are other insurance policies that better suit these types of businesses.
Many factors are taken into account when insurers calculate how much to charge for microbrewery policies. Some of the considerations that can affect premiums include:
To get quotes for microbrewery insurance policies, microbreweries in Massachusetts should contact an independent insurance agent who’s licensed in the state. An independent agent will be able to obtain quotes from multiple insurers and help a brewery decide which quote offers the protections the brewery needs at the most affordable rates.