Wine Insurance: American Collectors

So I finally decided it’s time to insure the cellar. Calling my insurance agent they say that Chub only insures houses valued over $700,000. Mine is nowhere near that…they’re suggesting that I use American Collectors to insure the cellar. So I thought I’d check and see if anyone here has or is using them and how the policy is working for them? I don’t want a policy that pays out at my cost when some wines I have often are soon valued over my cost. Thanks to anyone that can/does share & comment.

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Chubb quoted my house and its only a $300K townhouse, try a different agent

Call AIG, they will ensure high 5 figure, low 6 figure wine collections

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Thank you both…great to have this feedback.

Surprisingly, I own no house. Chubb insures my wine.

Victor, Chubb insures your rented wine? [cheers.gif]

All wine is rental. Just thank your kidneys. [snort.gif]

This.

I think USAA also recommends American Collectors. Does anyone else have experience with American Collectors?

I made an inquiry with American Collectors regarding insurance and they refused to underwrite my collection because of “turnover.” I told them - in honesty - that 20-30% of the collection is either new or consumed each year and this threw off some sort of alarm bell that killed it for them. They only want to ensure “stable” collections, daily record keeping and purchase documentation notwithstanding. It seems kind of odd. Is this how AIG and Chubb work too?

Westfield insures my collection.

Bluewater seems fine … they insure my collection split between professional storage in Atlanta and my home in FL. No claims yet so not sure how that part goes…

Bluewater here. No issues with size of collection.

Bluewater as well here.

how do the costs look? I might look at insuring my wine now.

State Farm will insure a wine collection with a policy rider, about $0.55/$100

Depends on the value of the collection, where it’s held, etc. I’m paying $250/yr.

Ouch that’s rough. Don’t pay half that much with Bluewater.

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Bluewater wouldn’t cover loss due to earthquakes or extreme temperature. What are they covering? Theft?

My Bluewater policy covers extreme temperature. Not sure about earthquakes, but who cares in St. Louis?