Oregon Winery Insurance
Wineries and vineyard in certain areas of Oregon grow and process grapes either to sell or for use in the production because the soil and climate are ideal for this industry. Operating a vineyard may be similar to running a farm, but you are not just a grower. When you produce your own wine, you have risk exposures associated with selling a product. In addition, a wine tasting room also makes you vulnerable to liquor liabilities. Therefore, you need Winery and Vineyard Insurance that meets your unique needs.
Early one Sunday morning, an earthquake shook the region where a popular winery was located. The event caused the destruction of hundreds of bottles of unique one of a kind wine. Not only was the wine cellar filled with broken bottles, but a water main that extends from the well to the winery was damaged as well. The tasting room had to be closed, which resulted in the loss of revenue from hundreds of customers during a peak weekend for tourism.
In another area, a least three million dollars' worth of grapes were lost due to record-low temperatures. Over ninety percent of the buds were killed. The vineyard had to replant and wait years for new production. This means that the yearly income was gone.
One veteran winery owner rushed out the door when he heard screams coming from a man who had been cleaning the crusher-destemmer. The man's hand had been chopped completely off by the common device, which is used for the processing of grapes that have just been picked from the vines.
Planning for the security and safety of your winery or vineyard operations begins with the right winery and vineyard insurance policy. Even though it is not possible to eliminate the risk of disasters, thefts, accidents and other types of potential loss completely, it is possible to protect assets and be able to rebound quickly when something does go wrong.
The Coverage Your Oregon Winery Needs
Just like the grapes that they produce, vineyards come in a wide range of varieties and can be considerably more complex than they may seem at first. When it comes to a Winery Insurance policy, it is important that you do business with an agent that appreciates that the operations of your winery is much more than simply growing grapes. You have to deal with a large number of complicated transactions and activities on a regular basis to keep your business up and running.
Your winery does a lot more than just process and sell wine. In fact, this industry is actually quite complicated. For this reason, you will need to look at everything that running your operation entails in order to make certain that you have adequate protection.
A few of risk exposures that vineyards and wineries will need to take into consideration when determining the Vineyard Insurance that they need include:
- Alcoholic fermentation
- Barrel and tank aging
- Bottling and labeling
- Fining process
- Planting and growing
- Shipping and transportation
- Tank cleaning
When you are building your policy, you have to begin at the very first steps of the winemaking process, where the vines are obtained, their care and their value. Some fail to include intellectual property coverage in their Winery Insurance policy, but this is a concern that needs to be addressed.
There could be a problem with the root stock that becomes an indirect intellectual property claim. If your winery purchases a vine that is not properly licensed and violates a patent, you could trigger a patent infringement claim. However, patent infringement coverage is often overlooked in a typical policy.
A few additional vine issues that you will need to protect your winery against include:
- vine infections
Each of these can lead to severe financial problems, including a loss of income. Therefore, you will want proper crop insurance in place for your protection. However, it is important to note that some perils may be excluded from a standard Vineyard Insurance policy, such as earthquakes, floods and insect infestation.
Ferranti-Graybeal Insurance Agency, Inc: Your Local Insurance Experts
A large number of wineries do more than just produce wine and sponsor tasting rooms. Some wineries host large events, give tours, provide food and even rent out space for other people to use. Each of these acts poses a significant risk that has to be addressed.
Ferranti-Graybeal Insurance Agency, Inc. is located in the heart of wine country and our agents are able to apply our same knowledge of farming and agribusiness to wineries. We have insurance policies available that have very specific details and coverage options in order to meet the needs of this unique niche.
Do not wait until it is too late to protect the winery and vineyard business that you have worked so hard to build. Act now by clicking on the quote request button now and get the peace of mind that you deserve.