It’s important to understand that Insurance is not a one size fits all purchase and you shouldn’t settle for ‘near enough is good enough’.
Your business has been established because of your enjoyment and drive for producing flavours that excite the palate as well as the joy of sharing your passion with those that are like minded.
Establishing your Micro brewery would not have happened overnight and the process you have undertaken would have involved considerable planning, costing and most probably sleepless nights, why then take the chance losing it all, when you could protect it.
There are many things to consider when looking at what insurance cover is right for you, in a recent article we did for Beer & Brewer Magazine we touched on the basic risk exposures but in addition to this there are other elements you need to consider, such as:
- I have an established business or am I just starting out (needs will differ)
- I rely on specific suppliers to obtain my ingredients, should something happen to them can I source these ingredients elsewhere?
- I import my ingredients what would happen if the shipment doesn’t arrive.
- I wholesale to a sole customer/retailer, if something should happen to this customer or their premise how would I continue distribute my product. Have I agreed to terms that would see me unable to find another distribution arm?
- With whom do I have financial commitments and how would I meet these commitments should I suffer a loss.
Working with the right partner, will help you work through all of these issues and ensure that the insurance cover is specific to your needs.
Contact Kris Pridmore at Insurance House on 03 92355216. or kris.pridmore@ihgroup.com.au