What Insurance Does a Craft Brewery Need?

Running a craft brewery is challenging. You need to guarantee that your product is always at its best, better than its competitors, and constantly protected against risks involved in running a business. You would want to make sure that equal focus and attention are given to all business areas. Otherwise, you put your business’ growth and everything you worked hard for at risk. Getting insurance, like LA Craft Brewery Insurance, offers coverages specialized in this field to help keep you protected.

Despite the increase in sales observed for beers, wine, and spirits in the first quarter of the year, one might agree that 2020 is a year of surprises and instability. Your business might be performing well at the moment, but there is no guarantee that it will be the same for tomorrow. What can you do to secure the future?

Choose an Insurance plan suited to your needs

Managing a craft brewery is not as easy as it seems. There are all sorts of risks involved depending on the kind of brewery you are running.

There is a need to pay particular care and consideration to your equipment. When they get damaged, there is a chance that your product will get contaminated. Spills can cause accidents, and you are also liable for what happens to your customers within the property or after they left your facility. If anything happens and you are not insured, you need to have available funds to cash out, and it can take you longer to get back on track.

Learn about the different types of insurance coverage so that you can choose one that best suits your needs.

Business Property Coverage

How your business looks on the outside and how well it is maintained on the inside represents your brand. But sometimes things happen beyond your control – a building can collapse, the roof can deteriorate, and walls can be vandalized. When they happen, you would like to rebuild and reopen at the soonest possible time to prevent a negative impact to your operations. Having property coverage can give you peace of mind knowing that whatever happens, your business will continue to run smoothly.

Tank Collapse / Tank Leakage Coverage

Tanks are but one of the most significant equipment in a craft brewery. There are various types – for fermentation, storage, or for serving beers via an air compressor. When any of them leak or incur damage, and without a Tank collapse or leakage coverage, there is bound to be a major setback in operations.

General Liability Coverage

All businesses need to have General liability coverage. It covers any general problems involving your business – advertising, product, libel, or slander.

Contamination Coverage

Here is another area that can cause your business to suffer the most if not attended to right away. When your beer gets contaminated, you won’t make any sales, and you suffer a profit loss. If you have contamination coverage, you will get support, address the issue, and can return to normal business’ operations quickly.

Workers’ Compensation Insurance

Every employee must be protected and properly compensated against all kinds of danger in the workplace. Accidents happen despite having safety precautions in place. When the inevitable occurs, you would want to make your employees feel valued and cared for by providing any assistance they need. Doing so will inspire loyalty, lessen employee turnover rate, and benefit your business in the long run.

Is it worth it?

The cost of getting insurance varies. Small craft breweries tend to get charged smaller premiums. Costs range from $77 to $109 monthly for about $1M to $2M General Liability coverage. Other factors, such as location, size, sales, and experience, may affect the overall cost.

Regardless of the price, though, having insurance coverage puts your mind at peace. Again, this year proved that just about anything can happen, and when it does, you would want to have your business protected against all sorts of uncertainties. Because if you don’t, you are not only incurring a cost, but you are also putting years’ worth of hard work, passion, and commitment go down the drain.

When unexpected things happen, you need some level of support to get you back on track right away. Choosing an insurance coverage that suits your needs is a way for you to keep your business running smoothly.

About Arroyo Insurance Services

Arroyo Insurance Services was officially established in 1986, but we have roots dating back to before 1950. One of California’s leading client-oriented and independently owned agencies, we have over 140 employees with a combined experience of over 450 years, spread across 11 locations. We are committed to providing the best insurance and risk management services at the most competitive premiums, and backing it with hands-on service tailored to our customers’ needs. For more information on how we can mitigate your risks, contact us today at (877) 220-4769.