Types of Coverage to Consider for Your craft beer brewery equipment
- Jul 09, 2021
- 168
- tiantai
The craft beer brewed by craft beer brew brewing equipment boom is in full swing, and it seems like a new brewery opens for business every week. The variety of companies is great for the craft beer enthusiast – each brewer has a unique style and take on craft brewing, and drinkers have plenty of opportunities to find their favorites.
Business Property Coverage
Your property needs to have coverage in case of any emergencies. Just like your homeowner’s insurance covers your house in case of an emergency, your property insurance will do the same for your business.
If the unforeseen happens – your roof collapses, a car hits your wall, fire, or vandalism – your property insurance will help you get your business up and running before it can make an impact on operations. It’s hard to run a business when you don’t have a building in which to work.
Tank Collapse Coverage
A mainstay of your business, you need to be sure that you have coverage for your tanks. If one of your tanks collapses because of implosion, you’ll have a big problem on your hands.
Tank Leakage Coverage
Maybe your tank doesn’t collapse but leaks instead. Without tank leakage coverage, any lost beer is gone for good. Leakage coverage will also cover any other storage container, so if you run into any other issues, you’ll be covered.
Restaurant Property Coverage
Does your brewery have a restaurant? A restaurant can bring in just as much business to your brewery as the beer does. If your restaurant equipment goes down, it could cost you. Restaurant property coverage will protect you in case there’s an issue with your equipment.
General Liability Coverage
All businesses need to cover general liability insurance. General liability insurance is what will protect you for any of the potential risks of day to day operations.
If your beer or food causes someone to get sick or if a guest falls walking up the stairs, your general liability coverage will help pay for the direct costs and any potential legal fees that you might encounter. General liability can also cover any business issues related to the product, advertising, slander, or libel.
Equipment Breakdown Coverage
Depending on the size of your brewery, if your equipment breaks down, it could have a significant impact on operations. If you’re small enough, it could even mean the end of your business altogether.
Equipment breakdown coverage will help with the cost of repair or replacement of equipment and any property that was damaged by broken equipment. On top of that, your policy will also cover any losses from business interruption.
Contamination and Spoilage Coverage
What happens if your brew is contaminated? Without coverage, you’d have to eat the loss from the product, but you also wouldn’t have any beer to sell. Contamination and spoilage coverage pays for some of the losses if any of your product goes bad.
Liquor Liability Coverage
Liquor liability coverage is non-negotiable. Any business that sells alcoholic beverages is required to carry liquor liability. This coverage will pay for any bodily injury or property damage from over-serving customers.
Workers’ Compensation Insurance
If you have employees, you need workers’ compensation insurance. This coverage will protect your brewery workers from any costs that they receive due to injury on the job.
Brewing beer is a fun business to be in, but it also has the potential for danger. Workers’ compensation will make sure that your employees have the assistance they need.
Next Steps in Opening Your New Craft Brewery
Running a business is tough but rewarding work. Each day can come with a new set of challenges. If the worst were to happen, you don’t want to be stuck paying for costs out of pocket. Knowing what insurance you need will help keep your brewery brew tanks systems serving beers for many years.
Business Property Coverage
Your property needs to have coverage in case of any emergencies. Just like your homeowner’s insurance covers your house in case of an emergency, your property insurance will do the same for your business.
If the unforeseen happens – your roof collapses, a car hits your wall, fire, or vandalism – your property insurance will help you get your business up and running before it can make an impact on operations. It’s hard to run a business when you don’t have a building in which to work.
Tank Collapse Coverage
A mainstay of your business, you need to be sure that you have coverage for your tanks. If one of your tanks collapses because of implosion, you’ll have a big problem on your hands.
Tank Leakage Coverage
Maybe your tank doesn’t collapse but leaks instead. Without tank leakage coverage, any lost beer is gone for good. Leakage coverage will also cover any other storage container, so if you run into any other issues, you’ll be covered.
Restaurant Property Coverage
Does your brewery have a restaurant? A restaurant can bring in just as much business to your brewery as the beer does. If your restaurant equipment goes down, it could cost you. Restaurant property coverage will protect you in case there’s an issue with your equipment.
General Liability Coverage
All businesses need to cover general liability insurance. General liability insurance is what will protect you for any of the potential risks of day to day operations.
If your beer or food causes someone to get sick or if a guest falls walking up the stairs, your general liability coverage will help pay for the direct costs and any potential legal fees that you might encounter. General liability can also cover any business issues related to the product, advertising, slander, or libel.
Equipment Breakdown Coverage
Depending on the size of your brewery, if your equipment breaks down, it could have a significant impact on operations. If you’re small enough, it could even mean the end of your business altogether.
Equipment breakdown coverage will help with the cost of repair or replacement of equipment and any property that was damaged by broken equipment. On top of that, your policy will also cover any losses from business interruption.
Contamination and Spoilage Coverage
What happens if your brew is contaminated? Without coverage, you’d have to eat the loss from the product, but you also wouldn’t have any beer to sell. Contamination and spoilage coverage pays for some of the losses if any of your product goes bad.
Liquor Liability Coverage
Liquor liability coverage is non-negotiable. Any business that sells alcoholic beverages is required to carry liquor liability. This coverage will pay for any bodily injury or property damage from over-serving customers.
Workers’ Compensation Insurance
If you have employees, you need workers’ compensation insurance. This coverage will protect your brewery workers from any costs that they receive due to injury on the job.
Brewing beer is a fun business to be in, but it also has the potential for danger. Workers’ compensation will make sure that your employees have the assistance they need.
Next Steps in Opening Your New Craft Brewery
Running a business is tough but rewarding work. Each day can come with a new set of challenges. If the worst were to happen, you don’t want to be stuck paying for costs out of pocket. Knowing what insurance you need will help keep your brewery brew tanks systems serving beers for many years.
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