The craft beverage industry is booming. Breweries and wineries operate in all 50 states, and the number of distilleries has more than doubled since 2011.
Growth stems primarily from states welcoming breweries, brewpubs, wineries and distilleries – granting new licenses and drafting legislation to ease excise taxes – and from the desire of consumers to buy locally.
Proprietors in the craft beverage industry have special insurance needs. If you’re the proprietor of a brewery, winery or distillery, you’ll be glad to know that insurers offer products designed to protect your enterprise. Speak to your local, independent insurance agent to explore the options.
Something for every palate…
Look for property coverages that address exposures common to the industry, such as:
- selling price and market value clauses
- tank collapse
- tank leakage
- contamination and adulteration of your product
- temperature change
Valuable liability coverages include:
- blanket additional insured status for vendors/distributors
- product recall expense
- liquor liability
A round for the house!
Make sure that the insurance you purchase is adequate to cover special events you may host or attend: from tours and tastings to festivals and weddings. Talk to your agent about insurers that provide loss control consultations to identify potential hazards and develop and implement procedures to ensure visitor safety.
Submitted by Kevin Getz