Yes, You Should Insure Your Wine Collection. Here’s How.
If you have a wine collection worth $200,000 or more–and you haven’t taken out an insurance policy–your investment may be in jeopardy.
Even if you aren’t storing a bottle of ultra high-dollar Chateau Lafite 1869 or Cheval Blanc 1947 in your wine cellar, you likely own some valuable vino that should not only be protected from spoilage but also protected from disasters.
However, experts estimate that fewer than 5% of wine collections are properly insured. In other words, your wine—and your investment in it—could go down the drain if the bottles accidentally break or somebody steals them during a break-in. The price of leaving your wine collection uninsured could be steep, as one wine industry professional estimates the value of the typical wine collection at $200,000.
Unfortunately, a typical homeowners insurance policy often falls well short of covering a $200,000 wine collection. Why? Because most homeowners insurance policies don’t take into account typical threats to wine bottles, such as destruction caused by floodwaters, power outages that could ruin wine, and breakage that happens when wine is being transported.
Furthermore, the personal property coverage within a standard homeowners insurance policy will likely be inadequate for fully covering an extensive wine collection plus all of your other belongings.
How to Get Wine Insurance
For wine stored at home, you may be able to purchase extra coverage through homeowners insurance. And if you keep your wine at a specialized storage facility, you also might be able to buy separate coverage from the facility.
If you keep your wine at home, consider adding a personal articles floater. This is a way to provide adequate protection for your collection. Insurance experts recommend insuring a collection on a bottle-by-bottle basis through a floater if the wine is worth at least $500 per bottle. You also can purchase a floater that provides overall coverage for a collection with a dollar limit of, say, $25,000.
For more valuable wine collections, investigate speciality wine insurance. You can purchase bottle-by-bottle coverage or blanket coverage. Insurance professionals recommend bottle-by-bottle wine coverage for higher-dollar wine and blanket wine coverage for lower-value wine.
Note an important difference between coverage of wine under a homeowners policy vs. a wine insurance policy: The homeowners policy comes with a deductible if you make a claim, while a wine policy does not.
Once you obtain wine coverage, a policy normally pays claims for incidents like:
- Burglary or theft
- Fire
- Flood
- Misplaced or lost bottles
- Accidental breakage, such as when a bottle is being shipped from the seller to your home
- Power outage affecting climate-controlled wine storage
- Drain or sewer backup
- Earthquake or hurricane. In these situations, a special deductible may apply.
Many wine insurers cover your wine when it’s stored in your home, when it’s kept at an off-site storage facility or while it’s being shipped. Insurers refer to this as worldwide all-risk coverage, which takes into account any loss that isn’t listed as being excluded. For instance, all-risk coverage might cover bottles of wine that were broken during an earthquake (unless that’s excluded) or that have somehow disappeared.
Wine insurance isn’t all-encompassing, however.
“You can’t insure against gradual deterioration or damage caused by poor storage conditions. For example, if a bottle of wine is left in the trunk of your car and spoils, there is no coverage. Fading, scratching or tearing of a label also would typically be excluded,” says Laura Doyle, vice president at Chubb, which sells wine insurance.
Keep in mind that if you uncork a bottle of wine and sample even a few sips, coverage is no longer in effect.
Estimating Your Wine Insurance Need
To figure out how much coverage you should buy for your wine collection, you’ll need to get it appraised by a professional appraiser. For insurance purposes, you’ll also need to track how much wine you’ve got on hand by maintaining an up-to-date inventory.
Annual premiums for specialty wine coverage generally range from 40 cents to 80 cents for each $100 worth of wine. So, if you own a wine collection valued at $200,000, your annual premium would be $1,200 if the cost is 60 cents for each $100 worth of wine.
The cost of wine insurance is determined by factors such as:
- Size of wine collection.
- Location of wine collection.
- Exposure to dangers like earthquakes and wildfires.
- Management of wine collection, such as safety precautions in place to protect the bottles.
“Wine collectors should seek counsel from a knowledgeable insurance agent or broker who can help them determine the right coverage to meet their unique needs,” Doyle says.
Source: Yes, You Should Insure Your Wine Collection. Here’s How.
‘Drink Less, But Better’: Actor Sam Neill on Winemaking and What’s Next
In this interview, Sam Neill discusses everything from shooting a film during the pandemic to his thoughts on natural wine.
Though movie fans may know him for blockbusters like Jurassic Park or indie flicks like Hunt for the Wilderpeople, Sam Neill’s reputation in the wine world hangs on Pinot Noir.
In 1993, he established Two Paddocks winery in Central Otago, New Zealand. Since then, the estate has earned accolades for vibrant, transparent Pinots produced from four distinct vineyards.
We last chatted with Neill back in 2008. With Jurassic World: Dominion now on the horizon, we decided to check in again—this time, via Zoom from his quarantine hotel room in Auckland, New Zealand—to learn more about how 2020’s events altered his perspective on wine and why natural wine can be interesting.
Have the pandemic and various quarantines changed your perspective on wine?
I’ve been encouraging people to drink less, but better. To really get interested in what’s in the glass, who grew it, what it’s about… When you’re locked down and putting up with your own company…you might as well be mindful of what you’re doing.
What was it like to film Jurassic World during a pandemic?
That was an unusual experience and one of the toughest I’ve ever had. We were locked up for effectively four to five months, tested every day for 10 days when we arrived, and three times a week after. Someone estimated they spent $5 million just on Covid-19 precautions.
“I’ve been encouraging people to drink less, but better. To really get interested in what’s in the glass.”
You’ve gushed openly about the magic of Central Otago. Do you feel the same now?
Someone once said, “You can love many places in the world, but you can only be in love with one.” The only place in the world I’m in love with is Central Otago. I get off the plane, and within an hour, I feel completely at home.
You recently produced a small amount of Pinot Noir naturally, without intervention or preservatives like sulfur. Did you find much difference between that and the Pinot you make conventionally?
We made two small batches from exactly the same plot: the Fusilier Vineyard in Bannockburn. One was a natural wine, and one was classic. It was really interesting, the results, because they were completely different wines. They could have been from a different vineyard altogether, but they were from exactly the same grapes.
Did the pandemic disrupt vineyard and cellar work for you?
When harvest hit, it was full-on pandemic, but the government made an exception for the wine industry with very strict protocols in place. Everyone got a dedicated bucket, a dedicated set of secateurs, and people had to keep about 6.5 feet apart all day. We estimate that every vine is visited by a pair of hands 14–15 times a year. It’s time consuming and repetitive work, from leaf plucking to harvest, so it helps when you’re all in it together. To be separate and doing it isn’t so much fun.
What’s your vision for the winery in the next five or 10 years?
Well, all four vineyards were certified organic in 2017. It’s becoming more important to people, and it certainly is to us. There was one vineyard that was problematic that we had to farm conventionally for a while, but we eventually decided everything had to be organic. It’s time consuming and expensive, but I couldn’t in all conscience live with myself if we weren’t farming organically and sustainably.
How do you feel about natural wine, or wine that’s made without anything added or taken away?
We got interested in natural wine, which I laugh a bit about, but there’s demand for it. We make a small amount for our wine club members… I don’t really approve of it, to be honest. How long has mankind been making wine? I suppose it’s 10,000 years or something? And one of the great breakthroughs happened about 3,000 years ago when they started putting in a little bit of sulfur from Mt. Etna in Sicily. They discovered wine could have a life, rather than be a home brew, so why we’re reverting to something your grandad made in his garage. I don’t really know.
What can you tell us about Last Chance, the beautiful windswept vineyard at the end of the world?
If I had to pick one of my vineyards, that would be the one. There are extraordinary, weathered rocks that look like ancient creatures, and green vines growing below them. It has fabulous views looking north into the sun. It seems an unlikely place for a vineyard initially, but it has the full intensity of that Central Otago sun that’s like nowhere else. It’s a bit windier than elsewhere, so it produces tough, small berries and small bunches. Alexandra, the subregion, was always overlooked, but I think we make some of the most interesting, elegant, restrained wines from there. We hold back Last Chance an extra year. It is the slowest to come forward because of these lovely tannins. Next year, we’ll release the 2018.
What’s distinct about this wine? How would you recognize it when tasting it blind?
It’s got lovely savory qualities. It’s the most savory of our wines. It’s surrounded by wild thyme. Thyme even grows between the rows. I’ve always thought that partly accounts for its profile. It also has a subtlety and a kind of reticence that calls for attention, which is exactly what I’ve been talking about, that mindfulness that you need to appreciate Pinot Noir.
Source: ‘Drink Less, But Better’: Actor Sam Neill on Winemaking and What’s Next | Wine Enthusiast
Sing For Hope Pianos Comes To Beverly Hills August 6th – Sept 6th 2021
Sing for Hope harnesses the power of the arts to create a better world. Our creative programs bring hope, healing, and connection to millions of people in hospitals, care facilities, schools, refugee camps, transit hubs, and community spaces worldwide. Founded in New York City in 2006, Sing for Hope partners with hundreds of community-based organizations, mobilizes thousands of artists in creative service, and produces artist-created Sing for Hope Pianos across the US and around the world. The official Cultural Partner of the World Summit of Nobel Peace Laureates, Sing for Hope champions art for all because we believe the arts have an unmatched capacity to uplift, unite, and heal. Learn more and join the movement at https://www.singforhope.org/.



















