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.


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