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A lot goes into running a beer and ale merchant wholesalers business. From having to make sure that all customers receive their orders on time to ensuring your employee’s and third-party safety on the premises of your business - there are many things that can go wrong, which can hold your company financially liable.
That’s why insuring your beer and ale merchant wholesalers business is always a great idea. No matter the accident at hand - the insurance company will take complete care of it and you’ll be able to go about your daily operations without any worries.
How Much Does Beer & Ale Merchant Wholesalers Insurance Cost?
The cost of your business insurance will vary depending on the size of your company and the level of cover you want to take out.
The average beer and ale merchant wholesaler in the United States pays around $150 per month for general liability insurance. Such a policy will provide your business with cover from claims and lawsuits that arise from third-party bodily injuries and property damage.
Many wholesalers in the U.S. also take out BOP or business owners’ policy insurance. This costs the average wholesaler around $120 monthly. This policy combines general liability insurance and commercial property insurance, so not only do you protect the interest of any third party involved in your business but also your wholesale facility.
If you have hired staff to work for your beer and ale wholesalers business - you will need to take out worker’s compensation insurance, which can cost around $200 every month. This policy provides your staff and business with financial cover in case they get injured or fall sick at the workplace.
Wholesalers who also deliver to their clients using company cars need commercial auto insurance, which can cost around $250 to $300 per month. Such a policy will cover not only your staff and company vehicles but any third party in case of a road accident.
As your wholesale facility deals with alcohol, you’ll also need liquor liability insurance. This policy costs around $70 per month or $840 per year.
What Types of Insurance Do Beer & Ale Merchant Wholesalers Need?
There are a range of different insurance types your beer and ale merchant wholesale business can take advantage of. Generally speaking, the level of coverage you need to take out depends on the size of your business, the state you operate out of, whether you have any staff or company cars, and other similar factors.
Please take a look below for a more detailed overview of what insurance policies the average beer and ale merchant wholesaler in the United States takes out.
Why Do Beer & Ale Merchant Wholesalers Need Insurance?
Generally speaking, getting your beer and ale merchant wholesalers' business insured is never a bad idea if you want to protect the financial standing of your company in case of an accident.
For instance, if a company car gets into a road accident, which completely destroys a beer and ale order, without insurance, your company will not only have to cover the costs for the destroyed product but also for the accident if found guilty.
In other cases, it’s not uncommon for staff to drop heavy beer kegs on their feet, which can result in a great injury. If that happens and the employee is unable to work - they can sue the business, which without a policy in place will need to pay for all the medical costs and lost wages of the employee.
In other scenarios - depending on the state - some wholesalers don’t have the option to skip getting insurance as they are legally required before they can trade and sell to the public and other businesses.