- Craft breweries like yours have extremely unique exposures and therefore need highly specific coverage’s aimed at minimizing losses from areas that may not seem too obvious. Here at the Smith Insurance Agency in Webster, NY, we have multiple insurance carriers that have developed programs that are specific to the exposures of a Craft Brewer in New York. Outlined below are examples of these specialized coverage’s and how they can protect your Craft Brewery business.Are you at risk if a key supplier sustained damages at their facility and were unable to make deliveries to your brewery? It is important to make sure that you have adequate Business Income and Extra Expense from Dependent Properties coverage to ensure that your insurance helps you pay for the increased costs associated with bringing in a new supplier for your raw materials so that you don’t suffer a loss in production.
- Do you have coverage for the Foundation and Pipes that enable you to move water to the Mashtun and Lautertun, yeast to the fermentation tank, or the final product to your kegs, bottles or cans?
- Do you know how your Business Personal Property coverage is defined? Does it include damage to your raw materials that is in an outdoor silo or shed? Are the silo’s and shed’s covered?
- Who is responsible for transporting the raw materials from suppliers or to local retailers and bar’s that are selling your product? Make sure that you have adequate coverage for your Property In-Transit.
- Craft Brewing can be a seasonal business with peak months being in the summer. When your craft brewery is increasing production to meet this increased demand, does your insurance ramp up as well with an automatic Season Increase in specific coverage’s like Business Personal Property for your raw materials and finished product?
- Do you have coverage for Beer Leakage? Forklifts and other machinery can easily damage a tank and cause beer to spill out and be lost. Make sure that the value of the damaged beer is covered on your policy.
- Have you considered what it would cost is your raw materials or final products were affected by Spoilage, Contamination or a Change in Temperature from a power outage, contamination by a refrigerant, mechanical breakdown, etc? This costly problem can and should be covered on your policy. If you are tied to a timeline with promotions, release dated, etc. for a new seasonal brew, these cost’s can add up and its important that you are protected!
- Is it possible that you could have to deal with a Product Recall? Even the cleanest breweries with the best possible quality control are at risk of a product being recalled. This would result in expenses to your craft brewery for withdrawal, recall, inspections, repair, etc. Have you addressed this risk on your insurance policy?
- Do you have Liquor Liability on your Rochester craft brewery policy? If you are pulled in to a lawsuit involving alcohol consumption, this invaluable coverage would step in to defend you and potentially pay the claim.
- General Liability Insurance is essential to protect your business if you are sued for bodily injury or property damage. Make sure that this coverage extent to foreign countries if you are shipping your beer outside of the United States.
At Gerard P Smith Insurance in Rochester, we understand the complex risks involved int eh craft brewing business. Our team can help tailor a comprehensive program to meet your needs and budget and help you put a risk management solution in pace to avoid pitfalls. Give us a call today or fill out the form on this page so that we can contact you to discuss your New York Craft Brewer insurance needs!
We also have access to insurance carriers who can put together a loss control program that offers infrared testing, inspections, and assistance sourcing replacements for damaged equipment. These carriers can also offer services like:
- TIPS Training recommendations and alcohol awareness programs
- Advice on proper storage of ingredients
- Quality control plans, record keeping, batch testing, etc.
- Theft prevention
- Business continuity planning
For help with New York Craft Brewer insurance, or any other type of Rochester commercial insurance, please don’t hesitate to reach out today!