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Is Leakage and Contamination Coverage Necessary for
My Oregon Winery Insurance?
“Did you know there is coverage for that?” The winemaker says to the winery owner after they called their insurance agent. Just a few hours before they blow up a bladder press and contaminated all the wine with too much water. The loss of wine due to contamination from the accidental introduction of foreign material not customary or usual to the wine making process is a covered loss, as long as you’ve added the contamination endorsement to your Oregon Winery Insurance Protection Plan.
The question comes up, is it necessary to add the endorsement for leakage and contamination to my winery insurance. Unfortunately it is difficult to predict the future, and just like have auto insurance you hope that you never have to use it but in case of an accident you a glad that you have it. Leakage and contamination can come in very handy when you are in a bind. Accidents happen throughout a winery operation, and sometimes it is to the effect that the one is no longer marketable. That could be caused by leakage from a barrel or tank. It could also be something like wine product coming in contact with a cleaning fluid. We all know that it is a long process to go from grapes to wine, and along the way there are a lot of opportunities for something to go wrong.
Wine contamination and leakage endorsements are typically added along with a winery property endorsement. By adding this coverage it usually will add protection to areas that would normally be excluded. Coverage usually starts at $25,000 limits but additional limits can be increased if requested.
When you ask yourself if I really need leakage or contamination coverage on my Oregon Winery Insurance, do you want to be in a situation when you need it and don’t have it? It’s always a better conversation to have between and agent and client when they call and there is coverage for their problem, then when they call and the agent has to explain that they opted against the endorsement that would have provided coverage.
For more information on Oregon Winery Insurance visit www.OregonWineryInsurance.com
WHY SHOULD I GET CROP INSURANCE FOR MY VINEYARD?
The Oregon Wine Industry is continuing to grow every year. Wine sales show good trends upward as well as the price per bottle the Oregon Wines are getting. With these trends upward the Vineyard Industry continues to see positive traction. With that comes more plantings and also more investment into the industry from Non-Oregon Natives. The Oregon Wine Industry is big business and there are more and more people getting into it. The demand for Oregon Wine is getting higher and the availability of proper ground is becoming more sparse. The increased value in the wine continues to drive higher prices for the grapes as well. With all of these influences, even for the small vineyard owner, their crop has become more and more valuable. When it comes to most operations what do people consider the most valuable? Usually they will then insure whatever it is that has the most value.
In our lives we insure ourselves with life insurance. We insure our cars with automobile insurance. We insurance our homes with homeowners insurance, and we can go down the list. A Winery and/or Vineyard will usually carry liability and some form of coverage on the things they deem most valuable: the equipment, barrels, buildings, etc. We protect everything that it takes to make, bottle, store, manage and sell the wine. However, there is a drop off when it comes to those that actually insure the most important part of the process, the grapes! Sometimes the thought crosses our mind of “what’s the worst that could happen?” This doesn’t just happen with Oregon Grape Crop Insurance, it happens with many other types of crop insurance also. For some reason we tend to neglect the most valuable part of our operation. Without the grapes, there isn’t any wine, and without the wine there isn’t a way to pay for the operation we’ve created around it. So why should you get Crop Insurance for you Oregon Vineyard, because what would you do in the event of a loss without it?
As of 2015 some of the numbers show that only 5,805 acres of Grapes in Oregon were insured. In 2014 there were approximately 27,000 planted acres of Vineyards in Oregon. That leaves a lot of uninsured acres and a statewide industry dependent on those vineyards to produce grapes that contributed millions of dollars to the state’s economy. The value of the grapes harvested in 2015 was estimated around $128,000,000. With a crop that valuable it is worth insuring don’t you think?
We all know that Oregon Wines are unique, and that comes from the grapes used to make that wine. Some of the elements that help make them unique are the climate. However, that climate isn’t always conducive for good grape growing. Adverse weather is a covered cause of loss for grape production. Depending on the year and the weather, insects can play a vital role in the success or failure of a crop. Oregon Grape Crop Insurance can protect from production loss due to insect damage. Another element that comes into play is plant disease, which again is covered with a crop insurance protection plan. These are some of the covered causes of loss an insurance plan will help protect against.
Oregon Grape Crop Insurance will require a few things for the vineyard to be insurable. You have to have a share in the crop, they have to be grown for wine, juice raisins or canning, the vineyard has to be inspected and considered acceptable, the vineyard has to have reached fourth leaf, and it has to have produced at least a two ton average in one of the last three crop years. The plans are available in Benton, Clakamas, Douglas, Hood River, Jackson, Josephine, Lane, Linn, Marion, Morrow, Polk, Umatilla, Wasco, Washington, and Yamhill counties.
For more information visit the RMA Website: http://www.rma.usda.gov/fields/wa_rso/2016/grape.pdf
Or contact us:
Whether you are just getting started or have been in the industry for years, many owners and operators still have many questions regarding what their Oregon Winery Insurance Protection Plan actually covers. Just like an auto policy or your homeowners, a lot of people get it and then never actually look at what it covers. The more complex of an operation you have, the better the reason to have a comprehensive plan. If you are just starting out and need some basic coverage, the plans are still designed to help encompass and protect your needs.
For starters, liability is the number one request. If you are just getting going with an Oregon Winery, most likely you will be required to carry liability insurance from one place or another. Liability insurance protects you from damage you may cause someone else or if someone comes after you in a lawsuit. There are different forms of liability coverage too, like liquor liability that you may need if you are serving alcohol. This may be the only form of coverage you need to give a certificate of insurance to a purveyor in order to do business with them. Many times a custom crush facility or storage warehouse may request that you are insured in order to use their premises.
Property coverage on you Oregon Winery Insurance, will cover everything from the vines themselves all the way to your finished wine product and everything in between. Depending on your needs, vines can be insured as property to protect from standard perils like fire. Crop Insurance is used to protect the actual grape production, but we’ll touch on that later. Your plan can include your primary dwelling, and rentals, warehouses, outbuildings, equipment, tools, barrels, electronics, and more in the property coverage. Everything you need to run your winery can be protected in the same protection plan.
Extra coverage for contamination and leakage are optional. Winery Insurance plans are created to help protect a winery, so they are designed with you in mind. There are a lot of areas that can help you protect yourselves from the unforeseen future. We all know that is the last thing a new or existing winery can stand, is to have your whole year go by with all the input cost and then something happens to contaminate the wine or there is a leak that loses your product.
Crop Insurance is a form of coverage for those that own or operate vineyards. It will give you many forms of coverage under the Multi Peril Crop Insurance to protect the production during growing season. It can cover losses from weather like frost, wind, heat and rain. It can also protect against plant disease and things like wildlife damage. This peace of mind is irreplaceable throughout the year and can really protect an operation when things don’t go right in the vineyard.
Oregon Winery Insurance is unique just like the wines from the area. Each plan is customized to each winery and vineyard. Even though the policies are created in general for wineries with multiple facets of coverage, the individual protection plan is modified to fit the needs for each and every winery. It is amazing how often a winery is able to combine coverage, offer a better protection plan and get a better price. By incorporating the homeowners insurance into the winery insurance, many owners are able to get increased liability limits, better property coverage and save some money by doing so. Your basic coverage for most wineries are liability and property. For more information on the details of each type of coverage please contact us and www.OregonWineryInsurance.com
Oregon Winery Insurance
Monte Johnson Insurance Services Inc.
Whole Farm Revenue Protection Insurance
The Risk Management Agency, part of the United States Department of Agriculture, released the Whole Farm Revenue Protection in 2014. This plan is available in every county in every state across the nation. One of the first plans offered everywhere, it is geared to offer a risk management safety net for all commodities on the farm under one insurance policy. The plan is set with a maximum insured revenue of $8.5 million. This covers all commodities, both crop and livestock or conventional and organic. It can be for those that market locally, regionally, direct or have specialty niches.
At Monte Johnson Insurance we service California, Oregon, Washington, Idaho, Nevada and Arizona. Whole Farm Revenue Protection is available in each county of each of these states. It doesn’t matter whether you have orchards, vineyards, cattle, hogs, wheat, potatoes or numerous other commodities you can qualify for a Whole Farm Revenue Protection plan.
Check out the RMA’s WFRP Factsheet.
The Whole Farm Revenue Protection Insurance provides protection against loss of insured revenue due to an unavoidable natural cause of loss, that occurs during the insurance period and will also provide carryover loss coverage if you are insured the following year. The approved revenue amount is determined on your Farm Operation Report and is the lower of the expected revenue or your whole farm historic average revenue. Coverage can be elected on 5% increments from 50% to 85% depending on how many commodities you have. Whole Farm Revenue Protection can also help serve as another plan with MPCI policies, you don’t have to have one or the other.
In order to get an estimate you will need five years of your tax history, or schedule F. You will also need a breakdown of revenue per commodity. That can give you an estimate of the cost. If you decide to move forward, an application must be completed before the applicable sales closing date. Some of the initial forms that have to be completed afterwards are a whole farm history report and a farm operation report. Your intended farm report can be revised halfway through the year if you change your operation’s plans. During the year, notices of loss for any event need to be opened. However, your Whole Farm Revenue Claim process won’t really begin until after you file your taxes. The process will include a thorough review of your records to confirm revenue and expenses. Adjustments are made on inventory to count that was harvested but not sold in that year. A grower will work very closely with their adjuster to complete every step of the process and verify all records.
Premiums are based on your total liability, and depend on your subsidy. Farms with two or more commodities will receive a whole farm premium subsidy as long as the minimum diversification requirements are met. Farms with one commodity will received the basic level of premium subsidy. Please contact us at Monte Johnson Insurance for more information regarding Whole Farm Revenue Protection.
Monte Johnson Insurance
Open enrollment is upon us. That means from November 1st, 2015 until January 31st, 2016 you are eligible to enroll into a health insurance plan. That can include options through off exchange plans or through the Federal Marketplace (check out www.healthcare.gov). There have been many changes to health insurance within the last couple of years. For help with your Klamath Falls Health Insurance give us a call at 541-850-8170 or email at firstname.lastname@example.org.
If you are eligible for subsidies your cost can be greatly reduced. We can help you apply through the Federal Marketplace to see if you qualify. This is part of the Affordable Care Act, to help you find more affordable health insurance options in Klamath Falls. The premium subsidies and cost sharing reductions can help you and your families obtain the health insurance that you need at a price that is affordable. Depending on you income level you can qualify for different options to reduce the cost. Some people don’t realize that today there are no longer any pre-existing conditions exceptions. This means that companies can no longer underwrite based on your health history. Also the rates are based only on your age, the area you live in and whether you use tobacco or not. This makes obtaining a plain simpler and easier to understand.
Some of the other changes you will find when looking for a Health Insurance Plan in Klamath Falls are the Metal Tiers. These are the different plans and the new way plans are designed. Again to help simplify understanding plans have to offer essential health benefits regardless of the company. The Bronze, Silver, Gold and Platinum options are then comparable easier company to company. The way the plans work are to cover medical costs by offering different deductibles and co-insurance. What this means is that starting with the Bronze Plans, you will pay the least premium but have the largest deductible and co-insurance if you have a claim. You will pay the least up front but will be responsible for more out of pocket before insurance kicks in. The Platinum Plans on the other hand, offer the highest premium and lowest out of pocket expenses in the time of a claim. It helps you decide which options are best for you.
Open enrollment for health insurance in Klamath Falls and the rest of the United States began November 1st, 2015. It will continue until January 31st, 2016.
- November 1, 2015: Open Enrollment started — first day you can enroll in a 2016 insurance plan through the Health Insurance Marketplace. Coverage can start as soon as January 1, 2016.
- December 15, 2015: Last day to enroll in or change plans for new coverage to start January 1, 2016
- January 1, 2016: 2016 coverage starts for those who enroll or change plans by December 15.
- January 15, 2016: Last day to enroll in or change plans for new coverage to start February 1, 2016
- January 31, 2016: 2016 Open Enrollment ends. Enrollments or changes between January 16 and January 31 take effect March 1, 2016.
What is Open Enrollment?
- Open Enrollment is now when you are able to apply for or make changes to your existing health insurance plan. You can no longer apply whenever you like, you can only apply during this time period. Unless you have a qualifying life event you are required to enroll only during the Open Enrollment period. If you live in Klamath Falls that time is now. For those that have questions regarding their health insurance or need a new policy please give us a call or stop by our:
Monte Johnson Insurance Services Inc.
6508 South Sixth Street, Klamath Falls, Oregon 97603
With changes in the affordable care act, open enrollment periods and healthcare exchanges there is a lot to navigate now. We can help make sense of the timelines, coverage options and possibly subsidy options through the exchange.
The wine industry still continues to show growth year after year. Whether you are in Oregon, Washington, California or many other states the trends seem to look up. The number of consumers, the purchases, the new winery openings, amount of acres planted to vineyards. Many signs show that the wine industry in America is still growing. While other sectors may not be growing, the wine industry is making headway. The Silicone Valley Bank Wine Report says heavy yields for most appellations, a breakout year in sales growth, and that 2015 should have both volume and price increases in the fine wine segment. These are all positive markers as wine makers, vineyard managers and winery owners pursue their dreams. With all of this information, how does it affect your insurance needs?
There are many changes and needs when it comes to your winery or vineyard’s insurance protection plan. With growth showing in winery openings and vineyard plantings it brings in questions about what types of insurance do I need. For most new start ups some requirements from lenders, lessors or property owners will be liability insurance. For new operations that have any stock or property they want to protect from losses like fire, theft, etc. they need property insurance. If you have successfully opened operations that have tastings on or off site, you may be required to have liquor liability. Regardless of size, many “Winery Packages” are designed with the wine industry in mind. They bundle all of these coverage together while also putting in extras for things like contamination or leakage. Travelers Winery and Vineyard Insurance is a good example of a company that has a comprehensive plan for the new start up or a complex operation that has been in business for years.
Now that harvest is over for most of the country except for those late harvest and possible ice wine makers, many operators start focusing on 2016 and their plans for next year. How to protect their investment and future is one of the biggest concerns. Winery insurance can cover the wine that is being made right now, the wine that is stored in barrels and the wine that is bottled and being held for sale. For vineyard managers, crop insurance for their grapes may play a vital role if there is a production loss in the year to come. Remember, though, depending on your state and county area Sales Closing Dates are early and policy applications or changes have to been done before then. Review Grape Crop Insurance on the RMA’s website for more information. Whether you are in the vineyard or the cellar another often misunderstood protection plan is Workers’ Compensation Insurance. This is a must for any business owner with employees, but definitely a winery or vineyard operation. The possibilities for work related injuries vary greatly from operation to operation, but Workers’ Comp helps to protect the employer if someone gets hurt, and it helps get the employee the care they need so they can be taken care of and hopefully return back to work soon. Many people also overlook that liability aspect of operating their own business. We live in a lawsuit happy society, so when you are doing business with the public you have to always be aware of the worst case scenario and have the right insurance to protect you. Liquor Liability comes up very often, and along with a strong training program Liquor Liability Insurance can help protect owners from devastating lawsuits. Owning and operating a winery or vineyard is the dream of many Americans. The risks involved are tremendous sometimes. It is nice to know that there are options to help put all your insurance needs into one plan that can help cover your home, winery, property vineyard and liability. Visit Monte Johnson Insurance for more information.
What is your Napa Valley Earthquake Risk?
In some areas of the country, the risk of an earthquake is never far from people’s minds. In areas along the San Andreas Fault line in California, the earth has a way of nudging people awake if Californians ever feel complacent. Obviously with the recent earthquakes in the Napa Valley it has put everyone on high alert.
But Americans have been relatively spared over last hundred years, as a truly disastrous earthquake on the level that we have seen in China, Mexico, Japan and Haiti, involving thousands upon thousands of deaths -have been rare.
That’s due to the combination of strenuously enforced building codes and just a miraculous lack of a major earthquake. We have had several quakes of 9+ magnitude strike sparsely-populated areas of Alaska over the years. But as of this writing, the United States has not had a major metropolitan area host the epicenter of a 7.8 magnitude-plus earthquake in living memory. The 2014 South Napa Earthquake measured 6.0, and we know the amount of damage it caused. We can’t even imagine something around 8.
But that could change any minute.
The Federal Department of Emergency Management has developed a threat matrix to help gauge your exposure to earthquake threats.
FEMA has additionally also put out maps to help you determine your proximity to fault lines, which are areas with an elevated likelihood of a seismic event.
You can download the maps from FEMA at http://www.fema.gov/earthquake/earthquake-hazard-maps.
The closer you are to a red area on the map, the greater your exposure to seismic forces. But the damage you will incur has a lot to do with the strength of your building as well.
FEMA divides the map into five basic zones, and designates them as threat levels A through E, or “white” through “red.”
If you live in a white area, FEMA assesses your risk as very low. Even if you get a tremor, it would be quite unlikely for you to experience substantial structural damage or loss to property as a result, in these areas. You may want to plus up your coverage for floods, fires, hurricanes or other hazards, but earthquakes are not a huge concern in the white areas on the map.
Your exposure to risk becomes significant in “yellow” areas. These areas can extend a considerable distance from the fault line. If you are in a yellow zone, a strongly fortified modern building will likely withstand the shaking with minimal damage. But poorly-built structures are at substantial risk of significant damage and could be totally written off.
As you move further through the color scale, your risk becomes critical in “red” areas. Poorly-built buildings have a high likelihood of collapse or irreversible structural damage – resulting in a total loss of the building. Even moderately well-built buildings are at risk of collapse or substantial damage. Only the most robust buildings should be considered safe, and even these may well incur substantial structural damage. Buildings can be shaken off of their foundation, and some buildings will be completely destroyed by the quake.
Why Bundling Napa Valley Insurance Benefits Customers & Insurers
Following some of the worst catastrophic events in the history of the United States, the homeowners insurance industry has been heavily focusing on property lines. In the past few years, premiums have gone up nearly 20 percent nationwide, and it is no different in the Napa Valley. Many advisers are predicting a time of policy churning ahead. However, customers can benefit from bundling their insurance policies by saving money, and insurers can benefit from offering this option by enjoying better customer retention rates. Insurance companies must understand customers’ attitudes toward bundling insurance coverage compared with their feelings toward competitors’ products and offerings.
Research shows multiple factors that influence the retention rate of customers. The customer’s longevity and bundle choice often reflect how likely that individual is to keep their insurance with the company or look elsewhere. Research gives insight that overall retention rate for homeowners insurance was almost 90 percent between 2011 and 2012. From that percentage, the amount of retained clients who had a bundle package policy was 95 percent. Retention rates for people that used multiple insurers was slightly more than 80 percent.
The discovery that customers paying for multiple policies with one insurer are more likely to stay with one company is something that is consistent across various generations. This study surveyed people who bought a combination of homeowners insurance and auto insurance. However, the retention averages were higher for people who had more than two policies with one insurer, like a life or umbrella plan.
The people surveyed who were insured with companies that did not offer multiple coverage options did not say that they were certain about renewing their coverage. However, more of the customers who used insurers with added benefits answered that they would definitely renew their policies. Offering the option to bundle an auto and home insurance policy is usually the first and most important step toward building a long-lasting relationship between insurers and customers. In customer satisfaction surveys, customers who bundled two policies were more satisfied. The customers who were most satisfied had three or more policies bundled.
The study also looked at what specific products were the most influential for bundling. In addition to the combination of auto and homeowners policies, personal liability umbrella coverage followed close behind. This type of coverage has a high bundling rate overall. Secondary dwelling coverage also was popular. However, life insurance policies did not have a major impact on retention in relation to bundling. This is likely true because of the uniqueness of life coverage and the issue that customers do not always have the ability to transfer such a policy to another company. However, the option of offering life coverage certainly does not create a disadvantage.
Understanding the trend of bundling and preferred values of customers will help insurers market their products better and provide more efficient options for consumers. It is also important to remember that a customer’s income affects what type of coverage he or she is more likely to buy. Some people with higher incomes are more likely to purchase umbrella coverage to protect their assets. However, slightly younger clients are more likely to bundle life insurance if the option is presented to them. This is due to people in this age group getting married, buying homes and having children. Overall, bundling products with homeowners and auto coverage is something that both customers and insurers can benefit from. Customers who are interested in this option should discuss their concerns and needs with an agent.
The Napa Valley is home to legendary wineries, incredible world renowned restaurants beautiful scenery and much more. That is why so many people have their dream home there. After one visit, a lot of people know this is where they want to retire and have their little piece of heaven. Whether that involves building a new house or buying the perfect property it’s up to the dream of the owner. Since there is such high demand and little available property, the Napa Valley has very high home values. When you are looking for insurance on a high value dwelling, many companies limit the amount of insurance they are willing to accept. There are also multiple restrictions when it comes to brush clearance, wild fire scoring, distance to fire departments and construction type. High value home insurance specializes in the these risks and can over customized protection to make sure you and your dream home are covered. One of the most common types of Napa Valley high value homes you see comes with property especially vineyards. When you add the exposure of the vineyard, the insurance changes again to a vineyard or winery insurance policy. Whatever your dream property may be, we should have some options for you. When considering Napa Valley Insurance be sure to get a plan that covers the unique aspect of your high value home. It isn’t uncommon to see construction cost upwards of $2,000,000. You spent a lot of time and energy creating the place you always wanted, make sure your insurance would replace it the way you want it if anything ever happened. A lot of what goes into a customized Napa Valley home is the interior. All of the finishing touches make it your own design. Those finishing touches need to be accounted for when you consider your home insurance. The first part of a high value dwelling insurance policy is coverage for the structure itself and anything attached to it. The amount of insurance is based on the cost to replace the dwelling, not the market price. This amount is calculated using a replacement cost estimator. This tool will take into account all of your interior finishing touches such as granite counter tops, built in wine cellars, custom decks, etc. The second coverage is for any appurtenant structures such as a pump house if you have a well. The third coverage is for contents, which is all your personal property. Think of everything inside the house like your furniture, clothes, electronics and more. Your personal property is not only covered in the house it is covered wherever you go with it as well. You could take your iPad with you on vacation and potentially it is covered on your homeowner’s insurance with your deductibles applicable. The personal property coverage is also where you should schedule your personal valuables. When you schedule an item it can have a zero deductible and even be covered for things like mysterious disappearance. Many homeowner’s insurance policies will have jewelry scheduled specifically so there aren’t any questions asked if something happens to it. You can also schedule your wine collection, golf clubs, art and anything of specific value. Any item that you would like to be replaced exactly should be scheduled specifically. Your next coverage is your liability. If standard limits offered aren’t enough to protect you and your assets an umbrella policy can also be added. Your custom Napa Valley home is worth a lot to you, make sure you high value homeowner’s insurance policy protects it properly.