No More Whining: Insuring Your Wine Collection
Most people don’t know that with an expansive wine collection comes great risk. With wine being organic in nature, there are a lot of risk factors associated with it – even some you might not think of. What happens if the power goes out and your wine turns sour, or what happens if a bottle is knocked off the shelf and thousands of dollars is suddenly in a puddle on the floor?
While homeowners insurance protects some aspects of your wine collection – it rarely covers it all. You can insure your wine collection under a blanket policy, or if you have several individual high-value bottles, you can choose to insure each bottle separately. Here are some things to think about when looking to insure your wine collection:
- Protection against damages due to fire, theft or accidental breakage
- Protection against mechanical breakdowns in the climate control unit
- Protection against label damage (i.e. with many vintage wines the label increases the value)
- Protection for all your wine storage facilities (i.e. if you store your collection in multiple locations you’ll need to purchase a policy for each location)
While it’s great to have coverage of your collection, we know you’d rather enjoy its array of flavors. Here are a few storage tips:
- Don’t store chemicals, paint or odorous materials near your collection as they can permeate through the cork and spoil the wine
- Don’t store wine near heaters, sunlight or areas susceptible to flooding
- Avoid placing your collection near your home theater, which causes excess vibrations
- Store the wine at 55º F with humidity between 65 to 75 percent to avoid damaging the cork
- Install an alarm that alerts your mobile device in the case of theft, temperature change or fire
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