Wineries are inherently complicated to insure because they cross industry lines. They’re both agricultural and beverage businesses. In addition, many of them have retail outlets and must be shielded from personal injury liability as a result. Operating a vineyard calls for three principal kinds of business insurance. Here’s what you should know.
3 Types of Business Insurance Every Winery Needs
1. General Liability
General liability insurance is a must for vineyards of any size. This coverage will pay for bodily injury and property damage that others sustain on your premises. If a guest slips and falls, for example, or if an employee backs into another car in your parking lot, your insurer will cover the resulting damages up to the policy’s limits.
2. Business Owners Policy
A business owners policy (BOP) is all-encompassing coverage tailored to meet the needs of the business in question. When it comes to vineyard operations, BOPs typically include coverage for equipment breakdown, business interruption, real property damage, cyber breaches, and liability for pollution, chemical drift, and product recalls. It may also include commercial auto insurance and general liability if the policyholder opts to bundle these coverages into a single policy purchase.
3. Workers’ Compensation
In Ohio, any business that employs at least one individual must purchase workers’ compensation insurance. Workers’ comp protects you from personal injury claims brought by employees who get hurt on the job. By waiving their right to sue, injured employees are entitled to compensation for their medical expenses and a portion of their lost wages.
If you need business insurance for your winery, turn to Patton Insurance Group in Springboro. For nearly a decade, this local agency has been serving individuals, families, and companies throughout southwestern Ohio. Their knowledgeable agents are committed to helping clients find the coverage they need at the rates they can afford. Because they work with a broad range of national carriers, you can be sure of competitive quotes. To get in touch with a member of their team, call (937) 886-9966, or visit their website to learn more about general liability insurance.