Kelowna Valley Insurance Vineyard Insurance

Winemaking and Alcohol Manufacturers Insurance

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Wineries, breweries, and distillers need to be covered for the various industry-specific risks unique to alcohol manufacturers.

Whether you own and operate a winery is overlooking Lake Okanagan, you have a U-Brew in town, or you’re opening the next best brewpub in the valley, the insurance coverage you have for your alcohol manufacturing business could mean the difference between flopping or flourishing.

Small batch, craft alcohol production is all the rage and great new businesses are cropping up all the time. But, regardless of the type of alcohol you manufacture, everything you’ve created could be sidelined, if not destroyed if you haven’t protected yourself and your business with the proper insurance coverage.

Winery Insurance

You work hard to combine the latest technology with old-fashioned craftsmanship to produce quality wines. Whether yours is a family-owned business or already gone global, your wines represent your commitment of time, labour – blood, sweat, and often tears! – not to mention, skill and talent. You’ve invested too much to lose it all.

There are any number of ways a loss to your winery could be sustained. For example:

  • A load of grapes overturns whilst in transit.
  • Two distinct varietals are blended accidentally during winemaking.
  • Insecticides applied to crops on a windy day drift onto the neighbouring property.
  • A wedding guest slips and falls while dancing on the winery cellar floor.
  • Thousands of gallons of product spill to the ground as s wine-in-process is transferred from a large tank.

Winemaking insurance is specifically designed to protect British Columbia vintners throughout the entire winemaking process from the growing of grapes through to market-ready, bottled products.

Typically, all risk replacement cost coverage includes buildings, stock, equipment, and farming equipment. Irrigation systems, boilers, and machinery are also items addressed in a package we would provide.

Additionally, commercial liability, business interruption coverage, as well as products and completed operations liability (including shipping damages and bottling procedures) are included in a basic policy.

Kelowna Valley Insurance offers scalable solutions to help protect your business – from your oldest vines to your most recent packaging. With risk management expertise and products such as alteration of wine, trellis and grapevine coverage, business income insurance and a global protection extension, we are prepared to meet the specialized insurance needs of your winery.

Insurance Considerations specific to Wineries:

In Process Wine Products
Wine Specific Valuations
Vine and Trellis
Leakage
Collapse of Tanks
Productions and Agricultural Coverage
Crop Insurance
Chemical Drift Liability

Craft Brewery Insurance

In the rapidly growing craft beer industry, independent brewers have to work harder than ever to stand out from the competition. While creating a variety of perfect brews is hard work, choosing the right insurance to protect your brewery shouldn’t be.

Brewery Insurance is essential for any start-up brewing business, small or large, and should be included in your business plan. You need coverage that not only fits your immediate needs but has the flexibility to expand seamlessly alongside your company’s growth.

We can explore tailored insurance coverage for:

Craft Breweries
Tasting Rooms
Restaurants
Special Events
Beer Storage
Retail Sales
Catering
Lodging

Brewery Specific Coverage Considerations:

Tanks & Barrels
Specialized Beer Loss Evaluations
Liquor Liability
Product Withdrawal Expenses
Equipment Breakdown

Distillery Insurance

Distillers in British Columbia face unique challenges compared to other Alcohol Manufacturers as they have to work within the tight government control that can take its toll on profit margins.

Given the restrictive nature of controls on this industry, your distillery needs every advantage it can get, including the right insurance coverage.

More information about Alcohol Manufacturing Operations including Wineries, Breweries, and Distilleries can be found on the Government of BC’s Website.

Questions about Winemaking and Alcohol Manufacturers insurance? Talk to us!

Kelowna Valley Insurance - Why You SHOULD Have Tenant's Insurance

Renters: Why You SHOULD Have Tenant’s Insurance

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If you’re a renter, you should have Tenant’s Insurance to ensure your belongings, as well as your potential liability, is covered!

When you aren’t burdened with all the responsibilities of homeownership, it can be easy to overlook certain details when you’re a renter. Even if you’re renting, however, it’s still important to be prepared – expect the unexpected, as they say.

And don’t simply depend on your landlord’s policy!

Rather than take your landlord’s coverage for granted, you’re better off to just assume that your his or her insurance coverage will not be adequate when it comes to your belongings and personal liability.

Tenant’s Insurance is intended to address any discrepancies or shortcomings in your landlord’s coverage.

For you parents of college-aged young adults – given the increased possibility of mishaps – you should seriously consider insurance to protect your youngster (and, likely, yourself) while enjoying some additional peace of mind!

There are a variety of reasons to consider Tenant’s Insurance. Chief among them is to ensure that you and your belongings are adequately protected in the event of the unexpected.

Even if you only rent on a temporary basis, Tenant’s Insurance will replace the contents of your rental unit in the event of an insurable loss. This includes everything from furniture to expensive electronics such as laptops and televisions.

Understand that you probably own more than you think! It often comes as a surprise to realize how much stuff you actually have and how expensive it would be to replace all of it at once.  Be sure to keep an updated record of everything you own, including taking pictures or video of your belongings.

Tenant’s Insurance may cover any additional expenses after a loss.  If a fire occurs in your apartment, you will need a place to stay temporarily. Insurance will cover these necessary expenses while your apartment is being repaired.

You’re protected if you happen to damage the landlord’s, or another tenant’s, property in your building. As a tenant, you could be vulnerable, liable for damage caused to not only the space you’re renting but possibly the building as well – tenants are responsible for the harm they cause to any part of their building. Tenant’s insurance is there to help cover the damage.

If you’re unfortunate enough to accidentally cause someone harm in your building, Tenant’s Insurance will provide the protection you need. Tenants are potentially responsible for the harm they cause others who live or visit their unit. Tenant’s insurance would help cover the costs associated with this type of claim.

Tenant’s Insurance provides protection in the event of a lawsuit related to your rental unit. A standard insurance policy provides coverage, including defense fees and potential settlements, in the case of a lawsuit commenced by a third party.

As an added bonus for maintaining coverage, Tenant’s Insurance contributes to a claims-free history. Most insurance companies will offer a discount if you have several years of insurance history without a claim.  A tenant’s policy can help you establish that positive insurance history.

Questions about proper insurance as a renter? Talk to us!

Kelowna Valley Insurance - travel insurance

Travel Insurance – Even for a Quick Weekend Getaway!

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Ensure your peace of mind as you travel – even for a short, weekend getaway to the USA. Get travel insurance!

Travel insurance should be at the top of your to-do list when it comes to planning even a quick trip to the United States.

A recent report from Allianz Global Assistance Canada (AGAC) suggests that Canadians are choosing to forgo travel insurance when they embark on quick getaways. For the small savings, the risks can be huge!

The AGAC report identifies that less than 1.4% of single-trip policies purchased by Canadians were for trips lasting a couple of days. Statistics Canada identifies that this year over 12.5 million Canadians traveled to the US for at least one night.

That’s a lot of Canadians crossing the border with inadequate travel coverage, particularly given the costs associated with American medical care.

Now, in the height of summer and with autumn travel plans being made, many Canadians are anticipating travel south of the border, for both short and extended stays. Among them, there’s a troubling attitude of complacency regarding the purchase of travel insurance, leaving many travelers vulnerable in the event of the unexpected or even catastrophic.

It’s true, your provincial health care will cover a small percentage of medical expenses in the United States. But, it’s important to understand that it won’t come close to the thousands of dollars that are often incurred.

Forget the cost of serious injuries requiring hospital stays, or what might be required in the event of an auto accident, simply a few stitches in a hospital south of the border could cost upwards of $3,000, a sprained ankle around $2000.

Spending the little bit extra on travel insurance will not only provide you valuable peace of mind, but it also provides you valuable coverage in the event of what could be the painfully costly unexpected.

It’s impossible to know what could happen while you’re enjoying your travels. But, it’s important to consider – and be prepared for! – all the potential risks associated with travel, no matter how short the trip!

Planning a quick trip to the USA?  We’ll Help Arrange the Right Travel Insurance Plan for You!

Contact us or call 1-250-860-6064 for more information.

Kelowna Valley Insurance - loss prevention plan

How to Limit Risk for Your Business? Practice Loss Prevention

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What is the best way to save your business in a crisis? Consider your worst-case scenarios – implement an effective loss prevention plan before it happens!

It’s hard to think about the things that could harm or damage your business. But, with so much on the line – your investment of significant time and money – creating a loss prevention program becomes a vital part of your greater investment in the business.

Understanding how to prevent loss before a tragedy or crisis is essential. It means understanding the types of losses your business may incur: insured and uninsured.

Insured losses are covered by your insurance policy. A business that has property insurance will be covered from an unexpected fire, and with business interruption coverage, the store will even be compensated for the income lost while the business is closed for repairs.

Uninsured losses are not covered by your policy. These costs can include replacing equipment that’s been used improperly or replacing sick or injured employees with new hires.

Develop an effective loss prevention plan and your business profits in the long run.

When it comes to implementing an effective loss control strategy, you can get out ahead of any expensive uninsured losses through proper and thorough employee training and best practices, minimizing any potential downtime of your machinery to keep your business operating smoothly.

Claims that involve libel, slander, and violation of the right of privacy are known as reputational harm and are the most expensive claims that small businesses can incur. As a small business owner, you can take steps to avoid these claims, including requesting background checks, having someone review your advertising copy, and having an emergency preparedness plan ready.

There are several reasons why you should incorporate a solid loss prevention program for your business:

  • It provides guidance for employees. Employees who are aware of hazards and are properly trained on how to deal with them tend to be more efficient workers.
  • It provides opportunities to identify hazards through regular inspections, quality control programs, and procedures to correct deficiencies, which can help to avoid and reduce losses.
  • It provides direction for emergency procedures. Employees who are properly trained on emergency response are prepared to act quickly and correctly during an emergency. This can help mitigate losses and increase profits.

A culture of safety – regular practice helps prepare your business not just in the case of an emergency, but every day.

An effective business owner should conduct mandatory training sessions and practices. Develop drills, performance reviews, and best practices to help ensure your workforce is less vulnerable to expensive and possibly dangerous mishaps.

Here are some of the ways you can develop an effective loss prevention program for your business:

  • Develop employee safety manuals, policies and guidelines to build a culture of safety
  • Teach staff how to use new equipment to improve efficiency and safety
  • Install monitored burglar alarms and sprinkler systems to protect your assets
  • Make safety training mandatory to actively promote this culture of safety

Empower your employees

If you really want your loss prevention practices to be successful and effective, your employees need to play an active role.

The people who work for you should be required to participate in reducing, controlling, or eliminating workplace hazards, accidents, and injuries. There are a number of ways in which your employees can actively assist in loss prevention:

  • Think “safety” before initiating any work.
  • Follow all loss prevention procedures, regulations, and rules you’ve outlined.
  • Follow inspection guidelines for all equipment, machines, and tools.
  • Utilize proper personal protective equipment where required.
  • Operate all equipment with safety guards in place.
  • Operate only the equipment and machines you’re trained and authorized to operate.
  • Immediately report all unsafe acts, conditions, and accidents to management.
  • Participate actively in loss prevention training.
  • Recommend a specific methodology to control workplace hazards.

An effective loss prevention policy is simply good for business.

Encouraging all employees to participate in the development, maintenance, and enforcement of a loss prevention program will be invaluable in enhancing the safety and efficiency of your business while helping to increase your profits and the overall success of your business.

Do you want to protect your business through a loss prevention program? If you’re looking for comprehensive insurance coverage for your small business, contact us!

Kelowna Valley Insurance understanding Loss Prevention

Protect Yourself and Your Home: Practice Loss Prevention

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You buy insurance to help keep you, your family, and your home safe. What else can you do? Be proactive, mitigating as much risk as possible, and think loss prevention!

Yes, you’ve bought your home insurance to protect your home and most valuable assets. But, if you understand common risks there are steps you can take to effectively mitigate them to prevent potential losses.

The fact is, and as much as we’d rather not think about it, the worst-case scenario sometimes occurs. It might be a flooded basement, kitchen fire, natural disaster, or something else entirely. Home insurance exists to provide you important peace of mind, knowing you’re protected in the event of any losses and potentially costly risks.

It’s not just about your insurance, however. There’s a lot you can do, before tragedy strikes, to prevent damage and loss to your home.

As a homeowner, know the risks you may face. Some are quite obvious (fire, for instance), while others only reveal themselves to someone who knows where to look and what questions to ask – your insurance representative.

When it comes to loss prevention, know how to reduce your risk:

  1. Know what might go wrong. Is your home surrounded by wild junipers that could provide fuel to the loose spark from your firepit? Learn what you can do, outdoors, around your home to make it fire safe. An uneven step could cause someone to fall on your property. Learn about your slip, trip and fall risks and the value of preventive maintenance.
  2. Plan ahead to reduce your liability risks. Create an emergency kit and plan emergency exit routes with your family members. Limit how much alcohol guests are served when you host a BBQ, dinner or house party. Prevent sewer overflow in your basement by installing a backwater valve. Ensure that all smoke and carbon monoxide detectors are working properly.
  3. Know how to handle an emergency or loss situation. Learn what you need to know when making a property claim. And keep calm.
  4. Keep an up-to-date record of your household contents. A current home inventory of your belongings will make it easier to file a claim.
  5. Consider if you have adequate coverage. If you are concerned about natural disasters, you may be able to add coverage to your policy, such as earthquake coverage. Your insurance representative can explain the available options.
  6. Be sure that your home is equipped with approved loss prevention devices:
    fire alarm systems
    fire suppression systems
    security systems
    sump pumps and backwater valves
    automatic water shut-off devices
    reflective tape for heavy/farm equipment
    lightning suppression systems
    back-up power systems
    keep the chimney clean and free of brush and debris
    hail-resistant roofing materials

To learn more about loss prevention, CONTACT US; we have the knowledge and expertise to advise you on all aspects of Loss Prevention.

Kelowna Valley Insurance condominium insurance

Condominium Insurance Explained

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Kelowna Valley Insurance condominium insurance

Yes your Condominium or Strata has insurance, but it’s not going to cover you! Here’s what you need to know about condo owners’ insurance.

In British Columbia, the word ‘strata’ is synonymous with ‘condominium’. Strata unit ownership is typically defined by the divided by the walls, ceiling and floors within the building and includes any improvements to your unit.

As an owner, you have title to your own unit, but you also enjoy a share in the common property, amenities such as a secure lobby entrance, a rooftop patio, swimming pool, parking garage and other features.

The definition of what the unit owner owns depends on the condominium or strata declaration.

The Definition of Common Property

Common property is defined as any area that is available for use by all condo owners. Some examples of common property may include the lobby, elevators, gardens, gym, swimming pool, and other recreational facilities.

Unit owners share the expense of maintaining common areas by paying monthly maintenance fees. Limited access common property – such as a balcony or storage locker – maybe common property or a common element even though a unit owner has exclusive use.

If my condominium corporation has insurance, why do I need it?

Your condominium (or strata) corporation’s insurance policy may cover insured losses to the condominium building and common property but it DOES NOT cover your personal items and contents, liability, or any improvements you make to your unit.

What if your unit and belongings sustain damage due to a fire? What if you are held liable for personal injuries sustained by a visitor who slips and falls in your home? There’s also the possibility of damage (fire, water, etc.) as the result of activities in a neighbouring unit. While these scenarios may seem unlikely, condominium insurance would typically provide coverage in these circumstances.

Condominium insurance is more than just a policy protecting your personal contents and potential liability; it represents peace of mind.

Have questions about your coverage? Speak with your insurance representative to ensure you have adequate coverage and limits that reflect the value of your real property interests and personal property and the cost to replace it.

Condominium insurance differs from that of conventional homes. Coverage is available under two separate policies; that of each unit owner and that of the condominium corporation.

Typical Unit Owner Coverage:

You can anticipate that your condominium or strata policy may include coverage for:

  • Your personal property such as clothing, appliances and furniture, as well as items stored in your locker
  • Additional living expenses, in case you can’t live in your unit in the event of an insured loss in certain circumstances
  • Your personal liability for any bodily injury or property damage unintentionally caused to others.

When you purchase a condominium unit you are required to purchase individual contents coverage to protect not only your personal property, but for legal obligations to others as well.

Be sure to speak with your insurance representative about the possibility of optional coverages that might be beneficial: increased unit improvement coverage; contingency coverage if your condo corporations’s insurance is insufficient; loss assessment coverage; condo or strata directors’ and officers’ liability coverage; and, in some parts of British Columbia prone to earthquake, earthquake coverage provides for any losses or damage due to actual shaking of the earth.

Your coverage needs for condo insurance will depend on the cost to replace your personal property and the amount you’ve spent towards any enhancements and improvements, if applicable.

Typical Condo Corporation’s Insurance Coverage:

  • The buildings shown on the condominium plan.
  • Common property such as hallways, stairs, roof, pools, garages, driveways, etc.
  • Fixtures built or installed as part of the original or standard construction such as floor and wall coverings, electrical and plumbing fixtures.
  • Condominium assets such as furniture, equipment, etc.
  • Liability of the condominium corporation for claims of property damage and bodily injury suffered by others.

Have questions about Condominium or Strata insurance? We can help!