Risk Management for Winery, Vineyard and Vintner Businesses
From property damage and losses, to wine leakage or stock contamination or even supply chain risk, don’t let your wine or your grapes cause you to figure out how to recover from expensive losses without a plan in place.
There are a few key risks for wineries and vineyard businesses:
Property damage – this includes buildings and inventory. Property damage commonly occurs as a result of a natural cause, such as freak weather incidents or fire. Natural catastrophes pose a very significant threat to wineries and vineyards.
Business interruption - for most business owners, there are ongoing expenses that you need to pay even if you’re not generating any revenue – like staff wages or loan repayments. Business interruption insurance can get you through a temporary crisis by protecting your cashflow, so you can continue to meet your obligations and help ensure the future of your business. Business interruption insurance can also cover the loss of any sales you would have made while your business is out of action. Plus, any extra costs you incur to stay open. This may include relocation costs for moving to, and operating from a temporary location, ongoing operating expenses such as electricity and rent, or damage to a supplier’s premises which has a negative flow on effect for your business operations.
Liability - wineries offering tastings face the same liquor licensing responsibilities as any other licensed venue. Employees serving minors or inebriated individuals are a major concern. You may also be held responsible for any injuries that may occur while someone is on premises. If your venue hosts celebrations or events, you may have further considerations and requirements to ensure the safety of staff and patrons.
Professional indemnity – for contract winemakers, protection from financial losses resulting from claims of professional negligence or errors in winemaking services you are providing to a 3rd party.
Crop / vineyard – In the current market, there is little to no protection available for grape growers to attain crop insurance directly. As a specialist broker, we do have the ability to provide cover in this space where it is required. Please reach out to us to discuss your individual needs.
Securing the Future
As the wine industry continues to evolve, having the right insurance coverage will remain a key factor in the sustainability and success of wineries. For winery owners seeking to protect their investment and ensure the longevity of their business, understanding and investing in a comprehensive insurance program is a crucial step.
Why Choose Us?
The most valuable benefit of working with an experienced Insurance Broker is that you get more than just insurance— you get a partner who understands the intricacies of your business. Our personalised service, comprehensive coverage options and commitment to excellence set us apart in the industry. We empower our clients to make informed decisions by providing comprehensive risk assessments, expert advice, and tailored insurance solutions.
