Imagine running a successful distillery and suddenly, disaster strikes. You’re facing tank leakage, property damage, or worse, a lawsuit from an intoxicated customer.
That’s where distillery insurance steps in. It’s not just about protection, it’s about peace of mind.
Let’s dive into the ins and outs of distillery insurance, so you can focus on what you do best – crafting exceptional spirits.
Property Coverage Essentials
You’ve gotta understand that the property coverage essentials for your distillery include protection against tank leakage, tank collapse, and damages to your stills and property from incidents like fire, theft, and disasters. These risks can lead to significant financial burdens if not properly insured.
Consider commercial property insurance; it covers tank leakage and collapse, taking care of the cost of lost raw materials and replacements. It also protects your equipment, inventory, furniture, and fixtures from a myriad of threats. But don’t stop there. You might need additional policies for equipment breakdown and inventory coverage.
Auto Insurance Necessities
Let’s not overlook the crucial need for auto coverage if your business utilizes vehicles for any company-related tasks. You’re transporting valuable goods, and an accident could be costly.
That’s where business auto insurance steps in. It’s designed to protect you from financial risk, covering damages from accidents causing bodily injury and property damage. If you’re running a larger operation with multiple vehicles, fleet insurance is a smart move.
And don’t forget about hired/non-owned auto liability insurance for employee vehicles. Remember, your personal auto policy won’t cover business use.
Insurance can be a complex world, but understanding these terms and conditions is essential for your distillery’s protection. Seek advice from an independent agency to ensure your business is adequately covered.
Liability and Business Coverage
Moving onto liability and general business coverage, it’s critical to safeguard your operations from potential legal disputes and unforeseen setbacks. You’ll need a thorough understanding of the unique risks your distillery faces and the insurance terms that address them.
Liquor liability coverage, for instance, is vital to protect against damages caused by intoxicated patrons. It covers both defense costs and awarded damages. But don’t overlook other aspects of your operation.
Workers’ compensation, cyber liability, premises liability, employment practices liability, and crime insurance are all part of the package. They’re equally important, protecting your staff, data, premises, and reputation.
