Having equipment breakdown coverage is very important for the viability for your brewery. Many brewery owners are under the impression that their property policy they have in place will cover damages to their brewing equipment. This is partially true, but only for external damages such as a fire that breaks out in your brewing space. With equipment breakdown, you can say if it plugs in, it's probably covered.
WHAT IS COVERED WITH EQUIPMENT BREAKDOWN?
- Covers costs to fix or replace equipment that has failed
- Costs to get equipment working faster, therefore minimizing loss
- Reimburses for labor and time it takes failed equipment to be replaced
- Will reimburse for related goods or loss of materials, such as a spoiled batch of beer, due to non-operating equipment
- If there is business stoppage due to equipment failure it will replace lost business income
- Disruptions due to power surges, short circuits, centrifugal force, boiler overheating or cracking, and mechanical breakdown.
WHY IS EQUIPMENT BREAKDOWN SO IMPORTANT?
There are a lot of moving parts in a brewery. Every day the brewery is exposed to equipment malfunction and breakdown that will stop production, and obviously frustrate customers. If no beer is being made, there will be no income to keep the business going. Not only will this cover your brewing equipment, but your non-brewing equipment, which is equally important. Cold rooms and glycol lines are other portions of your brewery, that if not working correctly, will halt your production. If you have equipment breakdown with proper limits, and one of pieces of equipment breaks, you will most likely be covered for the equipment, as well as the income that is dependent upon this piece of equipment.
Not only is it important to have this coverage in place for unforeseen events, but you always want to have a detailed maintenance schedule in place. This can really help in preventing small issues turning into larger ones. Every brewery, whether large or small, is filled with hazards waiting to happen, but with proper maintenance you can really help to prevent accidents.