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Wine Insurance

Wine Insurance

Do you invest in wine or buy it to drink? Either way it’s very important to protect your collection, just as you would a piece of art, and a surprising number of wine lovers have inadequate insurance for their collection.

The value of wine fluctuates therefore it’s important to understand what it would cost to replace, and relying on a standard home insurance policy could leave you without essential cover or potentially underinsured. For example, a standard home insurance policy will likely have built in limits for wine, sometimes as low as £5,000. You may also own a particularly high-value bottle which should be insured separately.

What could cause damage to your wine?

  • Accidents happen. It’s unlikely that you would claim for dropping just one bottle, but a collection could be damaged whilst in transit or your storage shelves could collapse.
  • Temperature or humidity changes as a result of faulty equipment or a power outage could damage the wine, and claims arising from these would generally be excluded under a standard household policy.
  • Theft of good quality wine happens. Wine is a stable investment often giving double digit returns, so like a piece of art, is highly attractive to thieves who know what they are looking for.
  • Water damage, given cellars are great to regulate temperature but are generally at the bottom of the house, leaving them exposed to ground water flooding, flash floods and burst pipes.
  • Fire could damage the labels and bottle, and the resulting smoke could taint the wine.

Relying on a storage facility’s insurance can be risky. You have no control over the policy, and you may not be made aware of any changes, terms or conditions – for example who is responsible for covering your wines in transit?

Speak to the insurance experts

It is always important to understand what is not covered by an insurance policy, as even All Risk policies have exclusions. Whether you savour your Lafite or quaff your Barolo there is a lot to think about, so talk to us and we will help simplify and demystify the best way to insure your wine collection.

If you would like to get in touch, please complete the enquiry form opposite or call us on:

020 8256 4901

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