Earthquake in Napa?August 27, 2014
Earthquake in Napa causes an estimate of $4 billion in damage.
NBC news reported a 6.0 magnitude earthquake in Napa California over the weekend which really put a dent in harvest for 2014. Winemakers all over Napa are scrambling to clean up what the earthquake destroyed and salvage what it disrupted. Winemaking is the area’s top income while tourism is second. Financial analysts estimate the loss will near $4 million with commercial losses, vineyards and harvest lost, and bookings for wine vacations lost. Surprisingly enough, there is a very small number of Napa wineries that carry earthquake insurance. Earthquake insurance is very expensive amounting to an average of about $75,000 a year for many Napa wineries if they chose to have it. Up until now, it hasn’t been necessary said many winemakers from the Napa valley.