Friday, April 11, 2014

Wine, Wine on the Wall... Will your insurance cover it if it were to fall?

You undoubtedly remember when you started collecting wine. You had a few bottles here and there. Now you have a cooler to store your impressive collection and a global representation in your selections of vintage.

Now that some time has passed and you've turned a hobby into a passion, are you sure that your collection is protected by your homeowners insurance? 

Here area few steps to be sure your wine collection is protected.

  1. Have your collection appraised. An official wine appraisal done by a professional will be invaluable if you have an insurance loss to your collection. Appraisals cost the equivalent of a few bottles of wine and are worth every penny. 
  2. Take an ongoing inventory. As you add to your collection, record your purchases. If your home burns down or your collection suffers damage
  3. Consider your wine storage. Wine cellars and coolers can come with a heavy price tag. While many of these appliances may be covered under your contents coverage, you want to be sure that their value is factored in to your policy.

Talk to your insurance agent. Find out what types of coverage are available to you. Ask what perils are insured against. Will damage from fire be covered? Will damage from a flood or vandalism be covered? These things are important to consider.


4 Basic Property Coverages in your Homeowers Policy

GET TO KNOW YOUR POLICY.  It's not as complicated as you think. We have broken it down into smaller sections for you so it's easy to GRASP. 

Inside, outside, upside down... let's look at the pieces of your policy and learn what's covered.


· A (Dwelling) This is the structure of your home. If you flipped it upside down and shook it, the dwelling would be the parts that don’t fall out. This includes cabinets, fixtures, walls, floors, etc.

· B (Other Structures) Do you have a fence, gazebo, detached garage or tool shed? Your other structures are considered structures that are detached from your home or connected by wire, fence or another connection. If you have to walk across grass to get to it, it’s probably an other structure.

· C (Personal Property) Your bed, clothes, pots and pans, etc. are considered contents and covered under personal property. Some items such as jewelry, money and firearms have special limitations. Also, some personal properties and ‘perils’ are not covered.

· D (Loss of Use) When a loss occurs due to a covered peril and you can’t live in the dwelling, this coverage is intended to cover your additional living expenses. If you have to relocate to a hotel and buy new work clothes, you’ll use this coverage.
*As always, It's important to consult your agent with questions. We're happy to review your policy with you. (813) 406-2290