Personal Lines: Spotlight Coverage
Insuring your Wine Collection
Anyone who is serious about collecting wine should consider purchasing Wine Insurance.
A typical home policy does not provide the kind of protection you need to adequately protect a wine collection. An “all risk” Wine policy will not only include coverage for standard perils, such as Fire and Theft but it will also include Breakage, which is excluded under most home policies.
Wine insurance is relatively inexpensive. A standard policy for $50,000 would only be approximately $200 per year. | |
An itemized list with a good description and a value for each bottle is all you need to get started. Appraisals are only required for bottles whose value is in excess of $10,000.
Whether you have a 1981 Lafite-Rothschild , a 1989 LaFleur Bordeaux or maybe a case of the 1986 Silver Oak Cab, there is a policy for you. We also offer a “blanket” policy that covers up to a $10,000 per item limit.
For example, if you are the collector that has many bottles that range from $30 up to $300, a blanket policy may be ideal for you. If your palate leans to the higher valued wines, these can be itemized on the policy, with each item described and individually insured for a specific value.
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An added benefit of this coverage is that when you have an existing wine policy, you have automatic coverage for any newly purchased bottle of wine for up to 90 days. For those 90 days, you are covered for up to 25% of your itemized coverage (up to a maximum of $50,000). This is particularly valuable in the event that your purchase wine while on vacation and are not able to notify your agent immediately.
If you would like some more information about this coverage, please contact our Personal Lines Manager, Marci Garofalo.
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