Craft Brewery Insurance in Vermont
What is Craft Brewery Insurance?
Operating a craft brewery comes with a substantial amount of risk, as breweries are exposed to an array of property, liability and other perils. Craft brewery insurance helps breweries in Vermont secure financial protection against many of the risks they face.
Craft brewery insurance tends to be particularly well-suited for small and medium breweries. Most policies are written as package policies that combine a variety of protections that these breweries can benefit from.
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What Businesses in Vermont Need Microbrewery Insurance?
Most small and medium breweries in Vermont should have microbrewery insurance. Few breweries have the financial resources to recover from a major disaster or liability lawsuit, and this is normally the most appropriate form of commercial insurance for these breweries.
Some businesses may have insurance needs that are similar to those of microbreweries but actually be better off with a slightly different insurance policy. For instance, large breweries may find that they’re better protected by a policy that’s designed for an operation their size. Alternatively, distilleries, wineries and similar businesses will likely find that they can get an insurance policy made for their particular industry.
What Coverages Are Available Through Microbrewery Insurance Policies?
There are many different coverages that these policies make available, and breweries can often adjust their particular policy so that it offers the specific combination of coverages they want. Some of the coverages that are available are fairly specific to beermaking, while others offer broader protections that businesses in many industries can use.
A few of the more beermaking-specific coverages that a policy may offer include:
- Tank Collapse Coverage, which might cover water processing costs in the event of a tank collapse
- Tank Leakage Coverage, which might cover the cost of stock that’s lost in the event of a tank leak
- Product Contamination or Adulteration Coverage, which might cover some contamination that ruins a batch of beer
- Product Recall Coverage, which might cover recall expenses in the event stock needs to be recalled
A few of the more general coverages that a policy may come with are:
- General Liability Coverage, which might protect against common accidents that take place on company property
- Business Property Coverage, which might protect buildings and equipment from ceratain causes of damage
- Business Interruption Coverage, which might cover certain sustained drops in revenue
- Commercial Umbrella Coverage, which might cover especially large lawsuits that exceed primary policies’ limits
- Commercial Auto Coverage, which normally is required if a business owns vehicles
Still other coverages to consider include key employee replacement cost coverage, restaurant property coverage and equipment breakdown coverage. An insurance agent who specializes in these types of policies can help breweries select the coverages that are most appropriate for them.
Do Breweries Need Workers Compensation Coverage?
Most breweries have employees and thus, are required by state law to carry workers compensation coverage for their workers. Workers compensation generally protects against work-related injuries and illnesses that employees could suffer.
Workers compensation, however, frequently isn’t included in microbrewery policies. Instead, it’s usually purchased separately as a stand-alone protection.
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