Insurance for Breweries & Wineries
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What Insurance Do Breweries & Wineries Need?
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Equipment Breakdown Insurance protects your equipment from breakdowns caused by motor burnout, power surges, boiler malfunction, and operating error. It covers you for the costs to replace or repair your damaged equipment, and other related expenses.
Professional Liability Insurance (or E&O Insurance), protects your small business from claims of mistakes, negligence or malpractice made when providing your services that caused sobody financial loss. PLI covers your legal defense costs, damages and settlements.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Frequently Asked Questions
Why do Breweries and Wineries need insurance?
Breweries and wineries need insurance to keep the operations going when unforeseen circumstances cause a loss to the business, or to others as a result of business operations. The first line of defense is General Liability, which should include coverage for products liability, and defends against claims the business has cause bodily injury and property damage. Commercial Property, Liquor Liability, and Workers Compensation all become essential coverages as the business grows.
What risks could Breweries and Wineries face?
Breweries and wineries face risks which can shut operations down including fire, product contamination, on-premise alcohol-induced violence, and much more. Insurance can protect the business when one of these causes of loss would otherwise be so expensive that operations have to cease.
What is Crop Insurance for wineries?
When your grapes are unable to produce wine, be it a viral infection, weather events, fires, floods, and other hazards make sure to protect your profits with Crop Insurance. Crop Insurance will reimburse the costs of the damage from fire, floods, weather events, and other unforeseen hazards.
What do I need to consider if I host small events at my vineyard or winery?
If hosting events is a regular occurrence at the brewery/winery you should build it into your yearly insurance policy. If it is irregular you should take out special events insurance policies for the occasions. If you have additional services like caterers, florists, musicians and additional workers working for the event, you should expect proof of insurance from each independent contractor.