As a wine-grape producer, you know that one late freeze or poorly timed hail storm could have a significant impact on your yield for the year and your ability to do business in the future. That’s why, as part of your risk-management strategy, you carry agricultural insurance on your vineyard. However, insurance policies for vineyards can be impressively complicated, and unless you review your policy carefully and regularly, you could be in for a devastating surprise when the worst happens and your vines are damaged.
What You Can Do to Prevent Insurance Coverage Surprises for Your Vineyard
The good news is that you can start taking steps now to protect your vineyard. Here are a few ways you can take action to beef up your risk-management strategy and avoid coverage surprises:
- Consult with a professional legal team. Legal professionals who are experienced with agricultural insurance and business needs can help you review your current coverage, identify weaknesses, and offer clear guidance before, during, and after the claims process.
- Review your policy thoroughly now and at regular intervals. As a responsible business owner, it’s up to you to understand your agricultural insurance coverage and what to expect if you suffer losses. Since policies may also quietly change with each coverage period, it’s also worth making a review of the policy a regular priority.
- Identify potential liability issues. If you aren’t sure what to look for, it’s easy to miss potential liability issues that could cause complications later. Our legal team can help you identify and mitigate potential problems before they affect your business.
- Compare current coverage to the current needs of your vineyard and related business. Businesses grow and change direction over time, and you will need to make sure that your insurance coverage matches the pace of your vineyard’s success.
If you have questions about your agricultural insurance policy, or if you would like to consult with our experienced team about risk management for your vineyard, please reach out to us today for immediate assistance. And, to learn more about our legal professionals and the services we provide, connect with the Voss Law Firm on Facebook or LinkedIn.