Oregon Winery Coverage
It is important when choosing coverage for your winery that you and your agent do an in depth analysis of your particular risks. Do you hold tastings? Do you sell retail on your premises? Do you have hired staff? Do you hold events on your vineyard premises? Do you have coverage in case of breech of intellectual property such as rootstock?
Winery and Vineyard insurance in Oregon is so different than just a Commercial Insurance policy. You need crop coverage and other types of coverage associated with the agriculture industry. However, at the same time, if you hold tastings, sell retail, ship your own product, there is a lot of business insurance coverage needed as well. This makes Winery and Vineyard Insurance a unique situation.
The coverage types you need are not the same as everyone else. An in depth analysis of your particular risk and unique operations will bring to light the coverage types you need to make sure your livelihood is protected properly. The experts at Ferranti-Graybeal will make a daunting process seamless for you, while making sure your vineyard has the proper protection.
Give us a call today to review your current coverage and risks associated with your winery.
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The risks your Oregon winery may face
A few of risk exposures that vineyards and wineries will need to take into consideration when determining the Vineyard Insurance that they need include:
The crop is at risk for potential damage such as flooding, pests, weather related (hail), drought, bacteria, infections, etc. Because the vines need time after damage to reestablish themselves, any of these types of damage could potentially ruin more than a year’s worth of production.
Bacteria or any kind of contamination could threaten the end result of your completed product, mainly, its taste. The vineyard exists to make quality grapes into quality wine for a profit. If the crop is compromised by bacteria, the end profit will greatly suffer. Especially if the contamination cannot be controlled or stopped and the grapes become unusable.
If you store and ship your product, steps must be taken to preserve the quality of the finished product. Precautions made for storing if the product is stored somewhere else (offsite). If there is another party that is shipping your product, there is risk involved here as you still may be liable for the safety of the product.
There is always a threat of product recall, in any industry, really. With a product recall in the Winery Industry, you specifically face shipping charges (extra ones), lost time, financial loss, and many other losses associated with not having a quality product for market and sale.
Premise risks are somewhat minimal if your winery is only involved in production. However, if you hold tastings, tours, sell the product for retail on premises, the risks increase tenfold! This means there are guests- non-employees on your property which brings the risk of injury on your premises that you would be held liable for. Proper coverage for this is a must!
Also, another liability issue that arises is if you hold wine tastings at your winery or you are selling your wine for retail purposes, another risk is liquor liability. Your liability increases because you could be held responsible for damages/losses that result from serving minors or over serving guests that attend the wine tastings.
Workplace injury is also a risk. It doesn’t matter if you have a small staff on hand, it only takes one to get injured to wreak havoc on your financials. Also, keep in mind, if you grow and harvest- the risk increases when you bring on seasonal workers to help with the harvest. Workers compensation insurance is a must have if you have any hired staff working at your vineyard or in the tasting/retail side.
Did you know that rootstock can be considered intellectual property? It surely can! Patent infringement is a risk, whether you grow or purchase your grapes. If the rootstock is unlicensed, this could constitute patent infringement. Also, there is risk in the labeling of the product. You can be sued by another party if they claim you have used their design, or vice versa; if another company infringes on your brand or labeling. This type of risk is most often overlooked when writing Winery Insurance.
Some other specific things that increase risks for wineries include:
- Alcoholic fermentation
- Barrel and tank aging
- Bottling and labeling
- Fining process
- Planting and growing
- Shipping and transportation
- Tank cleaning
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 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.
Count on the experts because each individual winery may face a unique set of risks!
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