Homeowner’s – Do you collect wine or have a wine cellar?

Homeowner’s – Do you collect wine or have a wine cellar?

Homeowner’s lucky enough to own a wine cellar need to have this added to their homeowners insurance. Collectibles like wine are not automatically covered by insurance.

Since it is a “specialty” item, it must be added as an endorsement or scheduled.

I’ve personally seen $4,000 bottles of wine and that is just for the 1 bottle!

Most wine collector’s have 100’s of bottles in their collection, so their wine cellar could be worth over $100,000! Some wine collectors may assume their is coverage on a standard homeowner policy but their is not.

A good insurance agent will annually review the things you need coverage for an make recommendations based on this review. If you have even a small collection of wine, you’d be wise to at least find out the charge to add this coverage to your homeowner policy.

I always like my clients to say “Here is what I am doing” instead of “guess what just happened?”. It is the second phrase that is often followed by “that is not covered” because we did not have knowledge of the risk.

Homeowner’s – Do you collect wine or have a wine cellar?

Wine cellars need to be insured properly by a homeowner.

Tom Larsen

 

 

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