In short, YES!
Here’s why and here’s what proper insurance covers.
The majority of homeowners’ insurance policies do not specifically address many of the exposures related to wine collections, especially when it comes to earthquake, flood, mechanical breakdown, temperature extremes or shipping.
Check out www.InsureYourWine.com
|Coverage Feature||What it Means|
|Coverage Territory||Your wine can be protected from all risks of direct physical loss or damage anywhere in the United States, its territories and Canada. International coverage can be offered upon request.|
|Backup of Sewers and Drains||Since wine often is stored in the basement, a collection can be vulnerable to this frequent cause of water damage. Coverage applies to compensate for damage to your wine caused by the backup or overflow of sewers, drains, or sump pumps.|
|Blanket Coverage||A “blanket” policy features one overall coverage limit for all the wine you insure. Coverage for individual bottles is capped at a certain limit per bottle. Wines at values above the per item limit can be scheduled. Wine valued in the blanket coverage means you have the flexibility to add and remove bottles from your collection without having to modify your coverage|
|Electrical and Mechanical Breakdown Coverage||Power outages and electrical surges can cut power to cooling units, making the wine vulnerable to spoilage. Coverage is provided for wine damaged by the failure of air temperature control systems, or due to wine refrigerator failure.|
|Transit Coverage||The policy provides a set amount of coverage while wine is moved or shipped so You can feel more comfortable buying bottles away from home, whether at auction or on vacation.|
|Earthquake Coverage||Tremors can be especially damaging to bottles, and a standard homeowners’ policy often restricts coverage for fragile or perishable items. A set amount of coverage is provided in the event of an earthquake, subject to a deductible.|
|Named Storm and Windstorm Coverage||Extreme weather can put bottles at risk, and a standard homeowners’ policy often restricts coverage for fragile or perishable items. A set amount of coverage is provided in the event of a named storm or windstorm, subject to a deductible.|
|Flood Coverage||A set amount of coverage is provided in the event of flood damage, subject to a deductible.|