Protecting Your Fine Wine Collection

Collecting high-end wine is more than a luxurious pastime; it is a lucrative investment option that should not be ignored. Investors throughout the world are finding that fine wine collections hold tremendous value and are purchasing collections as an investment alternative. More so than other general collectibles, fine wine requires extremely specific care in order to maintain value and lure, such as climate controlled cellars, security, and particular transportation requirements. Ensuring the aftertaste of your high-end wine collection remains unscathed and protected is vital. The personal risk managers at Swingle Collins & Associates can help you do so.

Important risks to be aware of include:

  • Water damage

  • Fire, theft or breakage

  • Transportation

  • Storage or product/equipment malfunction

As time has progressed and technology has advanced, wine cellars have started to move aboveground rather than the previous alternative of being underground or in a cave. Although this is a positive advancement, this also presents opportunities for further risk. Water damage and flooding can completely ruin the aesthetics of a wine collection, dramatically reducing its value. Wine cellars aboveground also meet the obstacle of imitating the environment that is required for optimal aging, such as temperature and humidity control. This same complication presents itself throughout transportation and as any other collection of high value, security is of high importance.

After reading through the potential risk factors above, it is obvious that immediate protection for your valuable asset(s) is imperative. A typical mistake that many encounter is to assume protection from these risks is obtained under the personal property portion of your homeowner’s insurance policy. Although in many instances this is not the case. In order to gain specific and unwavering protection for an asset such as high-end wine collections, collectors insurance may be in your best interest.

Examples of protection Swingle Collins & Associates can offer through collectors insurance:

  • Itemized coverage

  • 150% replacement cost

  • Breakage protection

  • Coverage for “mysterious disappearance”

  • Worldwide coverage

  • Hassle-free appraisal requirements

  • Coverage for pairs and sets

  • Cash settlement

  • Coverage for newly acquired items

  • Spoilage

  • Bottle Damage

Seeking advice and guidance from a trusted insurance advisor will allow you to be confident in your investment and to enjoy your collection. Contact the personal risk managers at Swingle Collins & Associates today to review your current homeowner’s policy and receive quotes for collectors insurance.