Microbreweries and craft breweries often begin as small operations. One even famously began in the kitchen of a Boston, MA brewer. Being small doesn’t protect a brewery from risks, though. Microbrewery insurance offers Massachusetts breweries a much better way to shield themselves from potential perils.
Microbrewery insurance policies are a specialized type of package insurance policy that’s specifically designed for microbreweries. As package policies, microbrewery policies typically contain several individual coverages that provide protection from a wide array of potential risks.
Craft brewery insurance is generally designed for small and mid-sized breweries. It offers affordable coverage for many risks that these breweries face, and most microbreweries in Massachusetts should consider getting a policy.
Large breweries may have insurance needs that extend beyond what craft brewery policies provide coverage for. While large operations should still be insured, they ought to talk with an insurance agent about other insurance options for bigger breweries.
Breweries can usually customize the individual coverages included in their craft brewery policy, so exact coverages often vary from one policy to the next. Nonetheless, there are a few coverages that many breweries choose to get:
Many of the coverages listed above can be purchased separately, but getting each coverage separately would be both more cumbersome and more expensive. Most insurers offer significant discounts for combining multiple coverages in a single craft brewery policy, and it’s easier to pay one premium rather than several.
While craft brewery policies can include many different coverages, there are a few that they don’t normally have. Workers compensation insurance is one such coverage. Breweries that have employees typically must purchase workers compensation as a separate policy.
As is the case with most insurance policies, premiums for craft brewery policies vary. They’re based on many different factors, so breweries often pay different amounts for coverage. A brewery's location, size, past claims history, and many other factors can affect how much its premiums are.
For example, a local brewery in Worcester, MA that only sells to establishments near them and a large brewery in Boston, MA that has distribution channels throughout New England would have significantly different risk exposures and insurance needs. They, therefore, would probably pay different rates for craft brewery insurance.
Breweries in Massachusetts can find out how much microbrewery insurance would cost them by contacting an independent insurance agent. An independent agent can help determine what coverages a brewery needs, and they can request quotes from different insurers for policies that provide those coverages. After comparing several policies from various insurance providers, a brewery can be confident in the one microbrewery policy it selects.