This reduces the value and might ruin the wine. If the wine is stored in a cellar, mold and moisture damage may harm the packaging on the bottles. Keep the packaging clean and undamaged.Temperature fluctuations (heat in particular) weaken the seal of the bottle and cause evaporation. Keep wine somewhere cool, dark, and dry.As an enthusiast, they’re probably familiar with some of these tips, but here’s a useful checklist for them to keep their collection safe: Best Practices for Storing a Wine Collectionīeyond insurance coverage, remind your clients to also take steps to properly store their wine to preserve its value. Transporting your collection exposes it to different risks, and a policy should account for those risks, providing suitable coverage for potential loss, theft, or breakage.ĭiscuss your client’s unique circumstances with one of our underwriters to make sure your client chooses a robust and comprehensive policy. Also, some policies provide replacement payouts above the market value of a bottle, insuring the value against market fluctuations.Ĭoverage may also include transit. For example, if your client lives in an area prone to fire, ample coverage for fire damage will take higher priority than flood damage.Īs with other valuable articles policies, insureds have the choice of covering individual bottles or placing a blanket coverage limit for an entire collection. The best wine coverage policies focus on the areas of greatest risk for your collection. The exact details and scale of the policy depends on your client’s needs. These policies are highly customizable, with options to cover theft, fire, flood, or accidental breakage. The available policy options vary as much as the needs of each individual collector. Also, this type of coverage isn’t only for serious collectors casual enthusiasts greatly benefit from the level of coverage that fits their needs. Wine enthusiasts invest a great deal of time and money into their collections, so it’s an asset that should be insured, much like any other valuable collection. Are your clients taking the necessary steps to keep their wine collection safe for years to come? Nothing sets the mood for a gathering of family and friends quite like the perfect wine.
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