Understanding the Insurance Needs of Wineries

Wineries can be exciting and rewarding business ventures, but as with any other company, owners and operators must be cognizant of risks and exposures. Even the most diligent and careful businesses cannot prevent all hazards. Fortunately, an adequate insurance portfolio can make all the difference in protecting your finances and future.

What Insurance Coverages Does a Winery Need?

While all wineries have at least slightly different insurance needs, several risks and exposures must be accounted for by all. With that in mind, the following core coverages are likely to be necessary for any winery’s insurance portfolio:

General liability—If your business is responsible for the losses of a third party, such as a customer or vendor, this coverage can help pay for various resulting expenses, including the following:

Medical treatment
Repairing or replacing damaged property
Legal fees arising from lawsuits

Commercial property—This coverage can help absorb costs arising from losses among property you use to operate your winery, including the following:

Buildings

Equipment
Inventory
Landscaping
Fencing
Signage

Business interruption—If a covered event forces your business to cease operations temporarily, your insurance can provide financial assistance for the following expenses:

Rent
Mortgage payments
Employee wages
Lost income

Workers’ compensation—This coverage can provide critical financial aid if an employee is injured on the job or develops a work-related illness, including helping to pay for the following costs:

Medical care
Missed wages
Disability and death benefits
Legal fees arising from lawsuits

Professional liability—If your winery faces allegations that a product you made or sold caused illness, bodily injury or other losses for another party, this coverage can help insulate you from damages.
Liquor liability insurance—This type of insurance can provide coverage for your business if a person to whom you provided alcohol causes losses or damages while intoxicated.

Beyond the aforementioned coverages, you should also consider your business’s specific operations to determine if additional insurance may be necessary. For example, if your winery depends on technology or motor vehicles, it may be advisable to obtain adequate cyber liability or commercial auto policies, respectively.

Get the Right Coverage

Wineries face many risks and exposures daily. Welcoming guests to your premises, providing alcoholic beverages, working with valuable products and using various machinery and equipment can all lead to costly incidents. Without adequate insurance, even a single incident could have catastrophic consequences for your business’s finances and future.

We’re here to help. For 60 years, Reidel Insurance Agency has been helping individuals, families and businesses in the Reynoldsburg area and throughout Ohio understand and address their insurance needs. We will work with you to analyze your unique circumstances and tailor optimal coverage. Contact us today to get started.