https:\/\/www.youtube.com\/watch?v=ZxfbRdkwbCs<\/p>\n
Amanda:<\/strong> \u201cHey Everyone. I\u2019m Amanda Foster, Social Media Specialist with Alta Vista Insurance, and I\u2019m here with George Francis, President of Alta Vista Insurance Agency. Today we\u2019re going to talk about \u201cglitches\u201d in your policy, and why they are important to look over. So George, values change all the time. Is this something that we should be looking in our policy?\u201d<\/p>\n George:<\/strong> \u201cWell Amanda, that\u2019s something that needs to be looked at continuously. A good example of that is when I picked up a new client recently. I talked to him. One of the reasons I was there was specifically because of \u201cValuation.\u201d I asked him, I said, \u201cSo, what do you have in stock at this time?\u201d He took me over to the barrel room and said, \u201cI\u2019m really not sure. But I don\u2019t think it is insured to value.\u201d So we went through it, and no. He wasn\u2019t insured to value. It is something that needs to be undated constantly. Wine comes in. Wine goes out. Values change. At least annually it should be looked at.<\/p>\n The other important factor to look at is your Library wine. If you haven\u2019t taken values in 4 or 5 years, you can be pretty much sure, it is undervalued.\u201d<\/p>\n Amanda:<\/strong> \u201cWhat about locations? What if you have moved locations, or are adding another location?\u201d<\/p>\n George:<\/strong> \u201cWell again, another glitch that happens is, suddenly we are not crushing at the same location. So, we\u2019ve added a new crush pad somewhere and we have not added (that new location) to the policy. If you\u2019ve got 10,000 Gallons of wine in the vat tank, and you are unfortunate enough to have a loss, there is no coverage. So every location, every warehouse, every press facility, every shipping place needs to be on the policy. And if you\u2019re going to change something let us know that (so we can update your policy).<\/p>\n Amanda:<\/strong> \u201cWhat about new equipment?\u201d<\/p>\n George:<\/strong> \u201c\u2026I can\u2019t tell you how many wineries I\u2019ve been to that have a new wine bladder press, a new wine grape destemmer, or new tanks. These are things, you buy them, you need them, the crush is going on, and it is something that you need right now. But they need to be added to the policy, or if you do have a loss, they won\u2019t be covered.\u201d<\/p>\n Amanda:<\/strong> \u201cWhat are some other things people should be aware of in their policies?\u201d<\/p>\n George:<\/strong> \u201cI think one of the big things I look at is transportation. Because policies differ. Some policies give you transportation from the field to the crush pad, while other policies may give no coverage for that. (Example) I had one client who had two gondolas on a flatbed (truck) that decided to go onto the roadway. (Transportation) is important coverage. It\u2019s something you need to make sure you have.<\/p>\n Obviously whenever you\u2019re shipping your wine to a warehouse, or some other location, there needs to be transportation coverage.<\/p>\n The reason we call these \u201cglitches\u201d is because these are simple little things that people don\u2019t always think about. The reason they don\u2019t think about it is because we\u2019ve got to get something done today, and it\u2019s really important for production. But these \u201cglitches\u201d happen, and they are important. Amanda?\u201d<\/p>\n