A human approach to insurance

Wine Collection Insurance

Get wine insurance and protect your cellar and premiere vintages

Are you serious about wine? Do you have a well-stocked pantry or wine fridge? If you consider wine to be an investment or simply have a large or valuable collection (or both), make sure its protected with wine collection insurance. This coverage can ensure you can rebuild your collection should the worst happen and it is damaged or lost.

Here at Rogers Insurance, we have experienced wine collection insurance brokers who can help you protect your passion. As an independent brokerage, we have access to a number of different insurance companies and can find you the most competitive wine collection insurance quotes. Whether you’re looking for just a bit of extra protection for your collection or want to protect a substantial investment, we can help. Get a wine collecting insurance quote online, by phone, or in-person at one of our offices today.

 Why do I need to insure my wine collection?

You might be thinking, “Doesn’t my home insurance cover my wine collection?” If your collection is small and valued at under $1000, you may have enough coverage. However, if your wine collection is worth more you may not be adequately protected. This can be for one of a few reasons:

  • Your overall policy limit doesn’t account for the value of your wine collection.
  • Your home insurance has an individual item limit below the worth of your wine bottles.
  • Your home insurance policy excludes coverage for collectibles or rare items.
  • Certain risks are not covered, such as a mechanical failure (causing your wine fridge to malfunction and ruin the bottles stored there).

Furthermore, even if your home insurance does offer some coverage, it may not reflect the true value of your wine. For example, many policies will pay out on a depreciated value, not current market value. If this is the case, your wine collection’s value wouldn’t be properly reflected in what you’d receive in the event of a claim.

Talk to our wine collection insurance brokers to ensure your passion is protected. We can help you ensure your investment is covered. If the worst happens and your wine is lost, at least you’ll be able to rebuild your inventory.

 What does wine collection insurance cover?

Wine collection insurance will compensate you for lost, damaged, or destroyed wine. Depending on the policy you choose, it can protect your wine against risks such as:

  • Fire
  • Smoke
  • Theft
  • Vandalism
  • Accidental breakage
  • Water damage
  • Earthquake
  • … and many more perils.

Exactly what’s covered will vary depending on the type of wine collection insurance and the insurance company you choose. Our wine insurance brokers will help you make the best choice for your needs and budget, as well as explain what is and isn’t covered by your policy.

Blanket vs Individual Wine Collection Insurance

Blanket wine collection insurance protects your wine as a whole. Here are its features:

  • You insure your whole collection as one amount (i.e. $100,000 or $50,000)
  • There is a maximum payout per bottle (i.e. $1,000 or $10,000)
  • Appraisals aren’t normally required
  • Good for bottles that are under a certain cost (the maximum payout)
  • Good if you actively drink or sell your bottles and acquire new ones

Individual or itemized wine collection insurance insures each bottle individually:

  • Best represents the individual value of each bottle.
  • Need to appraise for proper valuation.
  • Need to update regularly (if you buy, sell, consume).
  • Good option if you’re a true collector or investor (and don’t drink the wine often).
  • The payout depends on the valuation of each individual bottle.

Many wine collection insurance companies offer a combination of individual and blanket coverage. This means that you can individually insure certain high-valued bottles and cover the rest with a blanket policy.

One of our wine insurance brokers can help you choose which type of coverage is best for you based on your budget, wine collection, and level of desired protection.

 How does insuring a wine collection work?

There are two ways to protect your wine collection:

  1. Add a “rider” or “floater” to your home insurance policy.

This is an add-on to your home insurance. It will extend your home insurance to better cover your wine collection. The extent of coverage varies, but this is a good option if you’re on a limited budget and don’t have a large or valuable collection. It will depend on your insurer if you have a blanket or individual policy (or if you can have a blend).

  1. Purchase a standalone wine insurance policy.

This is best for serious collectors as it will generally offer more personalized and extensive coverage. Accidental breakage and mechanical malfunction of a wine fridge/temperature control may be covered, for example, while it would be rare to find this coverage under a home insurance floater. It also offers more flexibility and better coverage for higher value bottles or collections.

You may also need to decide the deductible, policy limits, and choose specific perils that your wine will be protected against:

  • Deductible – the amount you pay if you have a covered claim. You may have a choice of deductibles or you may not, it will depend on the insurer. Keep in mind that the lower the deductible, the less you’ll pay up front if you have a covered loss, but the higher your premiums will be.
  • Policy Limits – this is the maximum amount you’ll receive if you have an insured loss. This can be an overall limit and/or an individual bottle limit. Again, you may have some choice here or your insurer may mandate the limits.
  • Specific Perils – this is the causes of damage that you are and aren’t protected from. Sometimes, you can choose which ones you’re insured for. For example, accidental breakage may be an optional coverage. The more perils you insure against, the more protection you have – but your premiums will also go up.

Depending on your policy, you may need to inform your insurer when you purchase, sell, or consume your wine. You generally have a time limit of 30-90 days to do so. If your have a blanket policy, you may not need to worry too much about this, however, if you have itemized coverage, it will be important to stay up to date.

Don’t worry, your insurance broker can help explain everything and help you make the right choice when it comes to protecting your wine collection. They’re also there to help you if you need to submit a claim.

 How much does insurance for a wine collection cost?

The price of wine collection insurance will depend on a few factors:

  • If you add a floater to your home insurance policy or go with a standalone policy
  • Your coverage options
  • The value of your collection
  • Where and how you store your wine

Generally, it is estimated that your insurance premiums will be $0.40-$0.50 for every $100 worth of wine you insure. For example, if you had a wine collection valued at $50,000, your premium would be $200-250 each year. (This is just a ballpark number, your actual premium may be higher or lower depending on the factors mentioned above.)

The benefit of working with an insurance broker is that we have access to a number of different insurance companies. That means we can deliver a choice in coverage and truly competitive wine collection insurance quotes.

 Risks for Wine Collections

Heat, light and the air are enemies to wine collectors – spoilage can occur if your bottles are exposed to too high or fluctuating temperatures, too much light (UV rays are the concern here), and too low of humidity, which can affect the cork. Here are some other perils that can affect your collection:

  • Accidental breakage
  • Theft or disappearance
  • Power outage affecting humidity or temperature
  • Malfunctioning temperature or humidity control (if in a wine fridge or thermo-controlled room)
  • Water damage

While wine collection insurance can’t repair a spoilt bottle, help you rebuild your collection if any of these perils destroys your bottles.

 Tips for Keeping Your Wine Safe

Here are some of our best practices for keeping your wine safe:

  • Store it off the ground
  • Don’t keep your wine rack next to a vent or washing machine (or anything that generates heat)
  • Store your wine at 10-15 degrees Celsius – and this temperature should be kept consistent
  • Store your wine at moderate humidity (65-75% relative humidity) to prevent the cork from becoming brittle, difficult to get out, or even cork failure
  • Store bottles on their sides (better for the cork as well as sediment settling)
  • Store in the dark (UV rays can damage wine if bottles are exposed over time)
  • Don’t handle it!
  • Store in a temperature and humidity controlled cabinet or room
  • Protect your wine collection with insurance

Work with the Best Wine Collection Insurance Brokers

As a leading independent insurance brokerage in Canada, Rogers Insurance works for you, not an insurance company. We deliver truly competitive wine collection insurance quotes and offer a choice in your coverage. Our experienced wine insurance brokers are there to help you:

  • Determine your insurance needs.
  • Deliver competitive quotes.
  • Advise you on anything insurance and risk management related.
  • Advocate on your behalf if you have a claim.
  • Answer any of your insurance questions!

We believe in a hands-on, human-first approach to insurance – you’ll notice the difference. Get a wine collection insurance quote online, by phone, or in-person at one of our offices.

Need a Quote? One of our signature service brokers will contact you directly when it's best for you. We understand you're busy; if you give us your information, we'll contact you with a specialty insurance quote.
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