What Coverages Can Craft Brewery Insurance Policies Include?
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:
- General Liability Coverage, which normally provides protection from a number of common risks
- Business Property Coverage, which may provide protection for a brewery’s building and equipment
- Business Interruption Coverage, which might help a brewery survive a covered lapse in revenue
- Restaurant Property Coverage, which breweries that have tasting rooms, pubs or restaurants might need
- Tank Leakage Coverage, which might cover beer stock that’s lost through a leak in a tank
- Tank Collapse Coverage, which may pay to have water processed following a tank collapse
What Benefits Does Purchasing These Coverages Through a Microbrewery Policy Provide?
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.
Does Craft Brewery Insurance Provide Workers Compensation, Disability or Health Insurance?
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.
What Massachusetts Businesses is Craft Brewery Insurance For?
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.
What Influences Microbrewery Policies’ Premiums?
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:
- The location of a brewery’s property
- How large a brewery is
- Whether a brewery offers tours or tastings
- The coverages that a brewery selects
How Can Microbreweries Request Microbrewery Insurance Quotes?
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.
