The Hudson Valley NY region is arguably the best place on earth, producing craft spirits from small-batch distilleries to microbreweries, cideries, and vineyards. Because of the farm to table atmosphere here and so much fresh produce and food accessible in the area including the Catskill Mountain range bordering the west side of the valley, it’s normal that wineries, breweries, distilleries and cideries are incredibly dominant here as well. There’s no better way to complement the exceptional food found here than matching it to a fine bourbon, wine, cider, or craft beer produced right here in the region. In fact, the Hudson Valley is known for being the oldest wine region in the United States.
Insuring the regions precious commodities such as these may, however, require a little finesse. You can’t just go to any insurance company and say “insure my craft spirit facility please.” If you do, you may be in for many surprises. Such as incomplete or improper coverage if the company or agent is not entirely familiar with your type of risk, or you could also end up paying too much as well if our business is not appropriately rated.
If your policy doesn’t have extra non-standard benefits like Water processing, Contamination, and adulteration, Product withdrawal expenses, or Special processing equipment coverage just to name a few, then you may have already started out on the wrong foot. You should also know what is not covered under these types of policies. For example, many of the vineyards hit by the celebrated Napa Valley fires that destroyed much of the California wine industry were finding out after the fact that while their inventory and property may have been appropriately covered, their crops were not in many cases. This resulted in major expenses they were unaware of when restarting their operations.
In summary, insuring a craft distillery is similar to insuring a farm in the sense that there are quite a few coverages that do not apply to ordinary insurance policies and quite a bit of finesse required to build the proper policy.
David and Philip are the people to speak to when you’re talking about insurance coverage for your distillery, your tasting room, and your off-site events. Hudson Valley Agents, problem-solving insurance agents on a mission to offer affordable, comprehensive insurance to every Hudson Valley business.
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