Wine connoisseurship encompasses a cultivated palate, careful selection, research, and preservation. Whether you have invested in a few Super Tuscans while on vacation in Italy or have a cellar full of vintage Bordeaux purchased from a trustworthy retailer, proper care, storage, and insurance are essential for the physical and financial preservation of a wine collection.
How to Safeguard Your Collection
- Insure wisely: Fine wine insurance is a special category under a Valuable Articles policy that provides robust enhancements specific to wine collections. High valued bottles benefit from being scheduled on a policy for the Retail Replacement value; collections of lower valued bottles or cases may be adequately covered under a Blanket limit. A wine policy typically covers exterior damage or spoilage resulting from temperature fluctuations caused by mechanical breakdown to climate control systems. Wine coverage under a Valuable Articles policy does not protect against gradual deterioration, rot, and inherent vice. Moreover, once you open the bottle, coverage no longer applies.
- Store securely: Proper storage is crucial to maintaining the quality of your wine. Wine should be stored horizontally in a cool, dark place with monitored and consistent temperature and humidity controls. Avoid areas that may be exposed to vibrations from equipment or heavy traffic. Professional wine storage facilities are available and can offer optimal conditions if an at-home cellar is not feasible.
- Keep records: Keeping thorough documentation of your wine collection is important. Invoices, descriptions of each bottle, auction records, and information on provenance should all be kept in a safe location, with copies on file with your insurance broker. The value of collectible wine is typically driven by condition, provenance, and rarity. Maintaining regular updated appraisals helps ensure your collection is insured to the proper replacement value.
- Ship smart: When purchasing wine, be mindful of shipping methods. Many insurance companies place restrictions on coverage for shipments via common mail carriers like FedEx and UPS. For high-value purchases exceeding $10,000, consider using a specialty shipper to ensure safe delivery. Ask for specific details on how the bottles will be wrapped and secured in the shipping truck, confirm the truck will have climate controls and airride, and request direct routes as possible.
A Thoughtful Approach to Protection
Your wine collection is more than an investment—it is a reflection of your palate, your experiences, and your legacy. While no policy can replace the sentimental value of a bottle, the right combination of specialized insurance, secure storage, regular valuations and smart shipping practices can safeguard your collection and provide peace of mind.