Insurance for Wineries
Starting a successful winery business takes time. And a lot of effort. You must cultivate the land, select the right combination of grape varieties, distill, refine and age your product and more. Then you must arrange distribution; obtain clients or customers and more. Some wineries sell their products directly to distributers and restaurant outlets while others sell directly to the public and through retail establishments. The most important part of your business is to have the right commercial insurance coverage for your business structure and design.
General liability insurance protects you from unexpected events, hazards, problems and accidents. It’s particularly important if your winery offers public tours and tasting events. If a customer is injured while on your business premises, your winery could be responsible for all related damages and expenses. A general liability policy helps protect you from having to pay those expenses. It also protects you if a customer’s property is damaged at your Vineyard and it can provide you with product and advertising liability coverage.
Business Owners Policy (Bop)
A business owners insurance policy, or BOP, tailors your commercial insurance coverage to meet your specific business structure’s needs. It includes general liability and provides for tangible and intangible asset and property protection. You can select from a variety of different coverage options including:
- Equipment Breakdown – Can your winery cover the expenses if you experience equipment failures? If the furnace or air conditioner goes out in your storage room will you lose products due to spoilage or freezing?
- Buildings and Contents – The buildings you use to operate your business are critical to your success. A BOP can help protect you from expensive loses to your business structures and the physical assets you have inside. It can cover business improvements such as fencing, and furnishings and décor inside as well.
- Business Income and Extra Expense – Natural disasters and catastrophes can cause a number of short and long-term problems with your business operations. The repair expenses alone can sometimes be more than your winery is able to cover. If you must suspend or temporary relocate your business activities a BOP can help with the costs.
- Products and Completed Operations (Included In General Liability) – The products your winery sells can sometimes have problems in the future. A BOP can help protect your company from the liability that may arise from these situations.
- Electronic Data – If you keep critical business data on a computer or other electronic media form, there is a risk of loss due to corruption, viruses, power outages and more.
- Newly Acquired or Constructed Buildings – As your winery grows and you build or buy new structures, a BOP can expand to provide protection from losses.
If your winery uses personal, company or rented vehicles for business purposes then you need commercial auto insurance. Maybe you deliver products, visit with customers to assist their needs, or travel to industry events. If you or any of your employees is involved in an auto accident, commercial auto insurance can take care of the vehicle damages and related medical expenses.
Running a successful winery requires many different skills and hands. As an employer, you must protect your people with workers comp insurance. If any employee is injured while performing his job, is involved in a job related accident, or becomes ill from work he performs, workers comp will take care of his medical expenses.