“Gaps” In Your Winery Insurance Policy

https://www.youtube.com/watch?v=4ZHqOH1iI-0

 

Hi, I’m Dianna Connelly, the winery specialist for Washington and Oregon with Alta Vista Insurance.Today I’d like to talk to you about “Gaps in Coverage.”

Have any of these changes happen at your winery in the past year? Changes:

1. Hire New Employee?
2. Purchase New Equipment?
3. Increase in Production leading to increase in inventory?

Simple questions I know. But I’d like to talk about a concern I find over and over again when reviewing current insurance policies of potential new clients. I call them “Gaps in Coverage”. I define a gap in coverage when they change what they are doing, selling or making, and suddenly there is not enough insurance, or in some cases, no insurance at all to protect the business if a loss occurs.

Gaps can slowly begin any number of ways. For example:

• You add or remove a location.
• You start selling grapes along with making your own wine.
• There is a large change in your annual sales or inventory.
• Or new equipment is purchased.

All of these are common changes any business can experience, and each can slowly create a gap in insurance. One common denominator in all the policies: A lack of communication between the winery owner and their insurance broker.

As a wine maker and business owner, think about where you go throughout the day:

• Is your insurance coverage following you?
• Are you crushing, or taking delivery of your grapes somewhere other than your winery?
• Are your products and property covered at that location?
• Does your liability follow you if you accidently back your fork lift into their crusher?
• Are you using your personal car to deliver finished bottles of wine to customers?

As a winery owner, your focus is on Thursdays Bottling, Saturday’s Tasting Event and, “Will this year’s harvest be on time?” Is your Insurance Specialist, let me focus on other insurance questions to keep those gaps from ever becoming an issue.

Call or email me to discuss your insurance questions today.

Sincerely,

Dianna Connelly
Alta Vista Insurance Agency
(888) 724-2124