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Does your homeowners insurance completely cover your wine in storage?
Is your valuable wine investment properly insured?
Is your wine collection covered for its full value against fire, theft, breakage, water damage and a host of other catastrophes?
Is this coverage provided without a deductible?
These are important questions to ask. If your wine is currently covered by a standard HO-3 form homeowners policy you should be aware that your homeowners policy probably does not provide the above specialty coverage for your wine collection. In addition your homeowners policy limits the amount of coverage provided for personal property stored away from your home to 10% of your personal property limit (i.e. if you have $100,000 of personal property coverage you are limited to $10,000 for property stored away from your home).
It is for these reasons that we highly recommend taking advantage of the new Premium Coverage Plan offered by Vintage Wine Warehouse. Under the Premium Coverage Plan your wine can be totally covered against loss by fire, theft, breakage, water damage, flood, earthquake, and spoilage due to mechanical failure. Prices for coverage are as listed below as follows:
1.85% of the value of the goods
declared by the customer per year.
1.50% of the value of the goods declared by the customer
per year when storing $1,000,000 or more.
1.25% of the value of the goods declared by the customer
per year when storing $2,000,000 or more.
With wine prices around the world spiraling out of control we advise that you have your collection covered by Vintage Wine Warehouse for its full value.
If you currently have your wine properly insured we highly recommend you purchase an additional amount of coverage through Vintage Wine Warehouse so that your wine is covered for the difference in the deductible on your insurance policy. This will help cover your wine against loss for smaller incidents such as single bottle breakage during movement.
Remember that $10,000 worth of coverage is only $185 a year!
A small price to pay for peace of mind.
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