The Best Beverage Insurance in Tasmania

Even if you work in the industry, you may not realise just how many alcohol producers we have in Tasmania. As the Insurance Broker providing the best Small Business Insurance Tasmania has to offer, RSM Tasmania makes a point of knowing these things because we are your local insurance brokers.

According to the latest statistics, There are 95 Wineries, 58 Distilleries & 27 Breweries in Tasmania. So the questions are, what sort of insurance cover do these producers need and do they get the best value for their insurance dollar!

Tasmanian boutique breweries, distilleries and small to medium wineries indeed need to have robust insurance policies tailored to their specific needs.

Here are some key types of insurance they should consider:

Common Insurance Types for Breweries, Wineries, and Distilleries

Property Insurance: Protects buildings, equipment, inventory, and other physical assets from damage or destruction caused by fire, storms, theft, or other covered perils.

General Liability Insurance: Covers legal and medical costs if the business is sued for bodily injury or property damage to third parties.

Product Liability Insurance: Essential for businesses that manufacture products consumed by the public. This insurance covers damages that might arise from the consumption of their products, such as illnesses caused by contaminated beverages.

Business Interruption Insurance: Compensates for lost income and covers operating expenses when the business is unable to operate due to a covered event.

Liquor Liability Insurance: This is particularly important for businesses that sell alcohol, as it covers liabilities related to the sale of alcohol (e.g., damages caused by intoxicated customers).

Equipment Breakdown Insurance: Covers repair or replacement of brewery, winery, or distillery equipment that breaks down due to mechanical issues, often including losses due to the breakdown.

Cargo/Transit Insurance: Protects products, such as bottles of wine or kegs of beer, that are damaged or lost during transportation.

Workers’ Compensation Insurance: Provides benefits to employees who are injured or become ill at work. This is mandatory in most jurisdictions.

Differences in Insurance Needs Between Breweries, Wineries, and Distilleries

While many of the insurance needs overlap, there are specific considerations that might make certain types of insurance more relevant for one type of establishment over another:

Breweries

May require more extensive equipment breakdown insurance due to the reliance on brewing technology and machinery. Pollution liability might also be a consideration due to the waste products of brewing.

Wineries

Often need more comprehensive property insurance due to the high value of stored wine, which can be very expensive and needs to age properly. They may also benefit from more specialized natural disaster insurance, particularly in areas prone to fires or earthquakes.

Distilleries

Due to the flammable nature of spirits, fire insurance and safety liability insurance are crucial. Distilleries might also need higher limits on liquor liability insurance because the products have a higher alcohol content, potentially increasing the risk of liability claims.

Each business will need to carefully assess their specific operations and risks to tailor their insurance coverage appropriately.

RSM Tasmania is your local insurance broker for agricultural or beverage production insurance, ensuring our clients get the best coverage suited to their unique needs.

Talk to Roger Hosie from #RSMTasmania today.
Call Now! (03) 6244 7854, or email roger@rsmtasmania.com.au

 

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