Brewery Insurance in Virginia and North Carolina
Brewery Insurance Information
From an insurance perspective, owning a brewery means mitigating risks other businesses don’t necessarily have to worry about. This means it’s crucial to have proper coverage to protect your business. Risks such as spoilage, equipment breakdowns and liquor liability are just a few of the unique risks at hand. To get started with your Virginia brewery insurance quote, contact our agents at Parker Shelton and Associates Inc.
What Is Brewery Insurance?
Brewery insurance covers breweries of all sizes, but we will specifically focus on independent or craft breweries. A mix of both standard and industry-specific coverages are recommended for a brewery insurance package. It’s important to discuss your brewery’s needs with your agent to determine the best package for you.
What Types of Brewery Insurance Exist?
The are several types of insurance coverages to look into, the first being standard policies. Standard policies include:
Liability insurance—This protects your business from claims that may occur due to bodily injury and property damage to others. There are several types including general liability and products liability.
Property insurance—This covers loss of physical assets on your property due to a cover peril such as fire, theft, and vandalism.
Equipment breakdown—The brewing process is taxing and can lead to essential pieces of equipment breaking down—this coverage can help cover repairs or replace equipment in the event of a covered loss.
Contamination and spoilage—This replaces beer or raw material that has been ruined due to contamination or spoilage.
Workers’ compensation—Typically mandated by most states,workers’ compensation replaces lost wages and helps pay for injury or illness due to work-related incidents.
Liquor liability—Protects businesses that serve, sell, distribute, manufacture or supply alcohol. There are three pieces that liquor liability covers:
Third-party bodily injury—This helps pay immediate medical expenses or legal expenses in the event someone that becomes injured and sues your business after being served.
Third-party property damage—This coverage can pay to replace, or repair property damaged by an individual who became intoxicated at a brewery.
Legal costs—This helps cover attorney fees, court costs and settlements relating to lawsuits filed against a brewery due to an incident involving an intoxicated patron.
There are additional coverages to consider as well including:
How Much Does Brewery Insurance Cost?
A brewery’s size, experience and location will all determine the price of insurance coverage. For example, a microbrewery will pay less than a large craft brewery. It’s important to discuss your specific needs with your agent at Parker Shelton and Associates Inc. to receive your quote.
Contact Us Today!
At Parker Shelton and Associates Inc., we have your best interest in mind when it comes to brewery insurance coverage. Contact us today to get started!