The number of independent craft breweries and distilleries operating in the United States has grown exponentially, increasing by 16 percent, and 20.8 percent, respectively, between 2016 and 2017. The wine industry contributed to $219.9 billion to the U.S. economy in 2017. To help protect these growing businesses from the unique risks they face, Erie Insurance is introducing the Erie Custom Collection Breweries, Wineries and Distilleries Program.
Based in Erie, Pa., Erie Insurance is the ninth largest homeowners insurer and 11th largest automobile insurer in the United States based on direct premiums written. Rated A+ (Superior) by A.M. Best Co., Erie Insurance has more than 5 million policies in force and operates in 12 states and the District of Columbia.
In the beer, wine and spirits industries, for example, a fire could destroy the ingredients used to manufacture the beverages or the packaging materials used to bottle them, which could result in an expensive business loss. Or, alcohol served at a craft bar or tasting room may be considered a contributing factor to an accident. Liquor liability coverage is available to provide protection for legal costs or lawsuits arising from selling and serving alcohol. These are just two examples of the unique risks faced.
“We’re always keeping an eye on the market to see which industries are growing and what insurance gaps exist to determine how we can better serve our small business owner customers, and strong consumer demand for beer, wine and spirits has created new opportunities,” said Christie Lucas, vice president and commercial product manager, Erie Insurance. “Each business faces unique risks, which is why we’ve developed The ERIE Custom Collection product suite, consisting of customized insurance programs geared toward specific industries. We’re here to make things easier for our customers so they can focus on running their businesses, not worrying about them.”
The Erie Custom Collection Breweries, Wineries and Distilleries Program covers common risks related to property damage, lost business income, liability, equipment breakdown and other incidents that may occur in a craft beverage production facility or tasting room. Coverage is also available for workers’ compensation, use of commercial automobiles and costs related to operating the business in the event of an owner or key employee’s death or disability.
The Erie Custom Collection Breweries, Wineries and Distilleries Custom Collection Program is available in:
- North Carolina,
- New York,
- West Virginia,
- Wisconsin and
- Washington, D.C.