Distillery Insurance

Distillery Insurance from Prosura

The distillery industry is on the up in the UK, with over 500 distilleries operating nationwide. Growing interest in niche drinks brands means that the industry has a global market valuation of nearly £4.5 billion and a real opportunity for growth.

But with growth comes challenges. New competitors in the market. The need to take on and train new staff. Managing supply and distribution to international markets. The list goes on. And it means that getting the right insurance in place is more important than ever.

At Prosura, our broking team has years of experience working with distilleries. We’re here to make arranging cover a stress and friction free experience, so you can get back to getting those barrels moving!

What do you need to consider when buying distillery Insurance?

Individual businesses needs vary depending on a range of factors from stock levels through to number of staff and scale of distribution. That said, there are a number of core considerations that typically need addressing when it comes to distillery insurance.

  • Public liability insurance

It might be that you offer tours of your distillery to the public or have an on site shop. You may attend tradeshows or festivals. Even something as simple as an accident while out delivering stock could result in a member of the public being injured or their property damaged.

Public liability insurance serves to protect your business from the cost of legal expenses and compensation should a third-party make a claim for loss or damages as a result of your business activity.

  • Goods in transit insurance/Cargo Insurance

The spirits industry has a truly global market. Whisky and other liquor are just as popular in Asia as they are in Europe. Whether you’re transporting your product to parts of the UK, into EU countries, or beyond, goods in transit insurance will make sure your cargo is protected.

  • Loss of equipment or stock

You use high value and sometimes rare ingredients. A spoilt batch could prove costly for the business. In addition, you have specialist equipment and machinery, which, should it be damaged or break down, you will need to repair as quickly as possible.

Should your stock, machinery, or specialist equipment be damaged, lost, or stolen, the right distillers insurance program will help to mitigate your losses.

  • Business interruption

If you’re unable to trade as a result of an event such as fire, theft, or flood at your premises, business interruption insurance will help to cover your loss of profits, ultimately helping you to stay in business. It can cover fixed costs while you get the business back on its feet.

What can be included on a package insurance for distillers?

In addition to the covers outlined above, there are a number of further covers that you may need to consider:

  • Mature stock value
  • Lost production cover
  • Cover for rare spirit collections
  • Duty deferment guarantees
  • Product recall insurance
  • Management liability
  • Warehouse and movement guarantees

Here at Prosura, we’ll take time getting to understand your business completely, help you identify potential areas of risk, and ensure you have the right levels of the right type of covers in place.

What else should distilleries consider when buying insurance?

Many of the covers outlined above relate specifically to your activities as a distillery. More generally, depending on your circumstances, there may be other covers that you will need in place – property, whether owned or leased, will need buildings and contents. Where you have vehicles – be they for deliveries, travelling to events or anything else, you’ll need them properly insured on a commercial fleet insurance policy.

Why buy through Prosura?

Prosura is an independent insurance broker, offering you friction free access to a wide range of insurance products from a host of leading insurers.

Built on years of experience and in-depth industry knowledge, we can help you build an insurance program that addresses all your exposures, leaving you to get on with the real work.

We also give all our Distillery Insurance Clients free access to PROSURA Digital Lawyer, saving them hundreds of pounds a year on Legal Fees.

To get your bespoke distillery insurance program up and running, contact the team at Prosura today.

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