BEER, WINE, SPIRITS, and ALCOHOL
Product Liability Insurance BEER WINE SPIRITS and ALCOHOL. The boom of craft breweries and micro-distilleries has brought with it thousands of new companies and products that have come to market, with that comes the the need for Product Liability Insurance for BEER WINE SPIRITS and ALCOHOL products. In 2017 alone the US brewery count saw an increase of 16%, almost 1,000 new breweries and along with it, thousands of new beers with millions in sales and millions of possibilities for new product liability insurance claims. For these companies to reach their full sales potential, many need to appear in retail markets, at bars & restaurants, and in distributorships. In order to meet sales requirements or be properly protected from claims and suits Beer, Wine, Spirit and Alcohol manufacturers need Product Liability Insurance.
Castle Rock Capacity Insurance Agency Currently offers Product Liability Insurance for the Alcohol Industry including coverage for:
Alcohol Distillers & Manufacturers | Liquors & Liqueurs |
Is Product Liability Insurance Difficult to Obtain for the Alcohol Industry?
Not for us. Product Liability for beverages is typically simple to obtain, however the Liquor market is much smaller and many insurance carriers will not write Product Insurance for beer, wine, spirits, and alcohol. However our long list of carriers gives us access to Product Liability Markets many other brokers do not have access to. Whether it is Beer, Wine, Sake, Whisky, Vodka, Gin, Bourbon, Tequila, Brandy, Rum, Scotch, Malt Liquor, we have an insurance solution.
We have successfully written this business class for years, we understand liquor, really.
Insuring your Alcohol Products Insurance through us offers you optional benefits such as:
- Product Liability Coverage for discontinued products or prior acts
- Property Insurance for your manufacturing facility, warehoused inventory, merchandise in transit, both domestically and internationally
- Product Liability Coverage for new and start-up businesses
- Product Liability Coverage for Imported Beer, Wine, Spirits, and Alcohol.
- Premises Liability for your Manufacturing facility
- Commercial Auto insurance for delivery & sales teams
- Directors & Officers Insurance for start ups and investor relations
- Primary insurance limits are available up to $5,000,000, with excess limits up to $50,000,000
- Blanket Vendors Additional Insured Endorsement Included
- Waiver of Subrogation Endorsement Available
- Primary & Non-Contributory Endorsement Available
- Host Liquor Liability Insurance
- Full Liquor Liability Insurance for Brewery Tours, Brew Houses, and Wineries
- Options available for product recall expense coverages
- In many cases Premiums are available as low as $2,000.00
In many cases Premiums are available as low as $2,000.00Product Liability Insurance for BEER WINE SPIRITS and ALCOHOL – Who Should Have It?
Anyone that is responsible for the design, manufacture, sale or distribution of a component or end user product. This applies to any business or individual that manufactures his own product or even if the product’s manufacturing is subcontracted out buy another operation, even if you import and distribute the products from an operation overseas.
What is the average cost of Product Liability insurance for Alcohol Products?
Although we are typically asked this question, there is typically no “out of the box” price for the cost of insurance for a these coverages. Several factors come into play with regards to rating, such as; the nature of the product, the annual sales volume. Asking this is like asking the average cost of a bottle of an alcohol product. Sure you can find a beer for $0.50, similarly you can find a bottle of vintage wine for $500.00, but neither of those mean anything. Insurance costs take into account, production, sales volume, if you serve at your premises, claims history. In the same way the cost of a bottle of alcohol is specific to the bottle, the insurance cost for a Beer, Wine or Alcohol manufacturer is specific to the manufacturer.
So, What Does Product Liability Insurance Cost for Alcohol Manufacturers?
Product liability insurance costs for alcohol containing beverages are much like any other liability insurance product. There no off the rack price because they are based on the specific type of product you manufacture, sales, operations, retail or market. There are some products that pose very little potential to cause harm or damage and there are others that have a higher propensity to be risky, and therefore carry higher premiums.
How are Product Liability Insurance Policies Rated for Alcohol Manufactures?
A Product Liability Insurance Policy is rated on several factors.
- What is the product you are insuring
- How many of these products will be distributed into the market
- What are they used for and who will be using them
- How long are they intended to last
- Who formulated it
- What are the ingredients
- Where are they manufactured
- Do you serve the product directly to consumers or sell through retail or wholesale avenues
- Do you have open tours to the public
- Who is manufacturing your product
- How clearly defined are the usage instructions, directions and guarantees and or warranties that are provided with the product
- What claims does the manufacturer or distributor make about the product, either in writing, demonstration or in media.
How much Product Liability Insurance do I need for my Company?
The amount of coverage required can vary, important factors to consider when shopping product liability insurance limits are: How much coverage do my vendors require me to have to stock my product? What do I stand to lose if our company is sued? Because claims or allegations against supplement manufacturers can be severe or deadly, you may want to discuss your insurance requirements with vendors or an attorney before making any decisions.