Wine insurance for wines stored at offsite storage

Tasting notes, varietals, grapes - anything related to wine
Post Reply
Message
Author
YLee
Posts: 1935
Joined: September 20th, 2018, 8:09 am

Wine insurance for wines stored at offsite storage

#1 Post by YLee » June 21st, 2020, 9:31 pm

I was told by an offsite storage manager to insure the average value of 1 box.
Should I follow his advice or should I be insuring the total value of all the wines stored at my offsite?
I know there were incidents in the past with theft at some storage sites but I store my wines at Vintage Wine Warehouse (owned by Morrell in NYC). I cant imagine that happening there. Am I wrong?

What's your input on this?
-¥ 0 ñ 9

User avatar
Geoff F.
GCC Member
GCC Member
Posts: 192
Joined: February 22nd, 2019, 9:14 pm
Location: Seattle, WA

Re: Wine insurance for wines stored at offsite storage

#2 Post by Geoff F. » June 21st, 2020, 9:39 pm

Why would you pay for insurance that only covers one box of wine?

Speaking of - I should probably insure mine. I'm so used to homeowners insurance covering what I have at home that I forgot about the stuff I have offsite - where do you go to get this kind of insurance?
F r a n z

YLee
Posts: 1935
Joined: September 20th, 2018, 8:09 am

Re: Wine insurance for wines stored at offsite storage

#3 Post by YLee » June 21st, 2020, 9:44 pm

Geoff F. wrote:
June 21st, 2020, 9:39 pm
Why would you pay for insurance that only covers one box of wine?

Speaking of - I should probably insure mine. I'm so used to homeowners insurance covering what I have at home that I forgot about the stuff I have offsite - where do you go to get this kind of insurance?
His reasoning was that typically if there is damage to my wines stored there, it's just 1 box or bottle in the box. Hence, just insure avg value. There will never be damages to multiple boxes of my wines.
Those were his advices.

I believe many use Chubb for insurance. I forgot the other popular company.
-¥ 0 ñ 9

User avatar
Yao C
Posts: 981
Joined: February 1st, 2017, 10:53 pm
Location: Portland / San Francisco

Re: Wine insurance for wines stored at offsite storage

#4 Post by Yao C » June 21st, 2020, 10:38 pm

YLee wrote:
June 21st, 2020, 9:44 pm
Geoff F. wrote:
June 21st, 2020, 9:39 pm
Why would you pay for insurance that only covers one box of wine?

Speaking of - I should probably insure mine. I'm so used to homeowners insurance covering what I have at home that I forgot about the stuff I have offsite - where do you go to get this kind of insurance?
His reasoning was that typically if there is damage to my wines stored there, it's just 1 box or bottle in the box. Hence, just insure avg value. There will never be damages to multiple boxes of my wines.
Those were his advices.

I believe many use Chubb for insurance. I forgot the other popular company.
Honestly that doesn't make much sense to me. My insurance (through AIG) covers things like earthquakes, fires, and damage in transport - all of which are risks that would affect more than one box and that it seems worthwhile to be protected against
C h 0 o n 6

User avatar
Jason T
GCC Member
GCC Member
Posts: 2408
Joined: June 8th, 2014, 7:45 am
Location: London

Re: Wine insurance for wines stored at offsite storage

#5 Post by Jason T » June 21st, 2020, 10:50 pm

If we knew that a typical loss was always related to a bottle or a case we’d never get insurance. That’s not how “unexpected” works though. When we hav unexpected loss it could be on one bottle, one case, or the entire collection.
J@son Tr@ughber

User avatar
Geoff F.
GCC Member
GCC Member
Posts: 192
Joined: February 22nd, 2019, 9:14 pm
Location: Seattle, WA

Re: Wine insurance for wines stored at offsite storage

#6 Post by Geoff F. » June 21st, 2020, 11:12 pm

Yao C wrote:
June 21st, 2020, 10:38 pm
YLee wrote:
June 21st, 2020, 9:44 pm
Geoff F. wrote:
June 21st, 2020, 9:39 pm
Why would you pay for insurance that only covers one box of wine?

Speaking of - I should probably insure mine. I'm so used to homeowners insurance covering what I have at home that I forgot about the stuff I have offsite - where do you go to get this kind of insurance?
His reasoning was that typically if there is damage to my wines stored there, it's just 1 box or bottle in the box. Hence, just insure avg value. There will never be damages to multiple boxes of my wines.
Those were his advices.

I believe many use Chubb for insurance. I forgot the other popular company.
Honestly that doesn't make much sense to me. My insurance (through AIG) covers things like earthquakes, fires, and damage in transport - all of which are risks that would affect more than one box and that it seems worthwhile to be protected against
Yeah, I'm not super worried about losing a case or three in transit. I am worried about mass damage as Seattle is in a seismic zone and my locker is on the bottom half of the rack. That's why I'd only entertain insuring the whole thing or none at all.
F r a n z

User avatar
Victor Hong
Posts: 17790
Joined: May 30th, 2009, 1:34 pm

Re: Wine insurance for wines stored at offsite storage

#7 Post by Victor Hong » June 22nd, 2020, 5:37 am

Get insurance from a carrier totally independent of your storage operator.
Chubb will cover for full replacement value, if declared in a rider to your home ownership or rental insurance with the company.
WineHunter.

User avatar
ERPark
Posts: 3458
Joined: March 7th, 2015, 6:48 am

Re: Wine insurance for wines stored at offsite storage

#8 Post by ERPark » June 22nd, 2020, 9:50 am

Not certain anyone would like to get a fraction of the overall value of their collection, should it be stolen or lost due to some catastrophe........
GEN3

User avatar
AndrewH
Posts: 2756
Joined: May 14th, 2010, 1:34 pm

Re: Wine insurance for wines stored at offsite storage

#9 Post by AndrewH » June 22nd, 2020, 10:18 am

Geoff F. wrote:
June 21st, 2020, 9:39 pm
Why would you pay for insurance that only covers one box of wine?

Speaking of - I should probably insure mine. I'm so used to homeowners insurance covering what I have at home that I forgot about the stuff I have offsite - where do you go to get this kind of insurance?
It's been a while since I had a storage unit (for furniture, etc., not wine), but my dim recollection is that is was covered by my HO insurance. If nothing else, I'd start with your insurance provider and ask about offsite coverage.
Andrew H e i m e r t

User avatar
Victor Hong
Posts: 17790
Joined: May 30th, 2009, 1:34 pm

Re: Wine insurance for wines stored at offsite storage

#10 Post by Victor Hong » June 22nd, 2020, 10:36 am

ERPark wrote:
June 22nd, 2020, 9:50 am
Not certain anyone would like to get a fraction of the overall value of their collection, should it be stolen or lost due to some catastrophe........
As useful as a half-sunken sailboat.
WineHunter.

D@ve D y r 0 f f
GCC Member
GCC Member
Posts: 1287
Joined: May 14th, 2016, 9:22 am
Location: St. Louis, MO

Re: Wine insurance for wines stored at offsite storage

#11 Post by D@ve D y r 0 f f » June 22nd, 2020, 11:02 am

I agree with Jason. If the guy's pitch is correct that the risk against which you want to insure is just one bottle or one case, then it doesn't seem to me to be the type of risk you would insure at all. IMO, one generally does not insure for expected losses because the premium would be pretty much the same as the amount of the loss, or relatively minor losses, because one can just absorb them when they happen. One insures unexpected but significant losses. Losing the whole collection in a fire at the warehouse would be an example of that. Dropping a bottle while doing a reorganization would not, IMO.
Last edited by D@ve D y r 0 f f on June 22nd, 2020, 11:10 am, edited 1 time in total.

YLee
Posts: 1935
Joined: September 20th, 2018, 8:09 am

Re: Wine insurance for wines stored at offsite storage

#12 Post by YLee » June 22nd, 2020, 11:05 am

Everything everyone has said is what I thought. Just wanted to see why he would tell me that. Thanks everyone for your input and confirming what I believed.
-¥ 0 ñ 9

User avatar
Curtis Chen
Posts: 1172
Joined: June 27th, 2013, 9:30 pm

Re: Wine insurance for wines stored at offsite storage

#13 Post by Curtis Chen » June 22nd, 2020, 11:22 am

YLee wrote:
June 22nd, 2020, 11:05 am
Everything everyone has said is what I thought. Just wanted to see why he would tell me that. Thanks everyone for your input and confirming what I believed.
You're the guy who asks a question, gets an answer, and says, "Oh yeah, I knew that. Was just making sure."
Add me on CellarTracker: C Chen

Sjmotta
GCC Member
GCC Member
Posts: 50
Joined: July 13th, 2019, 2:48 pm

Re: Wine insurance for wines stored at offsite storage

#14 Post by Sjmotta » June 22nd, 2020, 11:24 am

I insured collection stored in home cellar with Bluewater Insurance - not sure if they insure offsite. Bluewater-ins.com
S t e p h e n

Matt Hruska
Posts: 1
Joined: March 2nd, 2020, 5:25 am

Re: Wine insurance for wines stored at offsite storage

#15 Post by Matt Hruska » June 22nd, 2020, 11:59 am

Glad I found this post before I started a new one... Actually been meaning to get a policy for my in home wine storage. Will check out Chubb and Bluewater. Any others you'd recommend?

Do I need to have an exact inventory and value? Or what should I expect to have to provide?

Nick Gangas
GCC Member
GCC Member
Posts: 7524
Joined: August 7th, 2009, 6:27 pm

Re: Wine insurance for wines stored at offsite storage

#16 Post by Nick Gangas » June 22nd, 2020, 12:12 pm

here's my strategy. I have insurance for $100,000. Now my cellar is worth much more and in 2 places. So if one burns down will I be made whole ? no. But I still have a lot of wine in another location. I then can spend what I want to replace on what I want but will probably bank a bunch. My cost is around $700 a year.

User avatar
ERPark
Posts: 3458
Joined: March 7th, 2015, 6:48 am

Re: Wine insurance for wines stored at offsite storage

#17 Post by ERPark » June 22nd, 2020, 12:39 pm

Not sure if every carrier that quotes wine coverage does so in the same manner. I provided a spreadsheet with retail/auction values to my insurance broker. He came back with a few choices, and they all said the spreadsheet was great. However, similar to as mentioned above, they quoted essentially a “bucket” of coverage based on a “round number” valuation. The basis for this is that a wine collection rarely remains static, with bottles being taken for consumption and additional bottles being added/acquired. Rather than constantly having to update the list with your carrier, they just assume your collection is worth the same value over time (unless you want to increase or decrease the declared value of your collection at some point).

My broker cautioned I still should document my collection with pictures/video, along with keeping receipts or acquisition info for as much of the big dollar items as possible. While a fire or structural collapse would leave evidence behind of what you owned/stored, good record keeping likely comes in very hand should a theft claim have to be filed.
GEN3

User avatar
Victor Hong
Posts: 17790
Joined: May 30th, 2009, 1:34 pm

Re: Wine insurance for wines stored at offsite storage

#18 Post by Victor Hong » June 22nd, 2020, 12:49 pm

Nick Gangas wrote:
June 22nd, 2020, 12:12 pm
here's my strategy. I have insurance for $100,000. Now my cellar is worth much more and in 2 places. So if one burns down will I be made whole ? no. But I still have a lot of wine in another location. I then can spend what I want to replace on what I want but will probably bank a bunch. My cost is around $700 a year.
There is still correlation risk. What if electric power in your overall area goes down, such that the wines in two separate places both get heat-damaged?
If your wine is worth so much, insuring it all properly will not add greatly to its total cost, anyway. Selling one or two bottles yearly, in order to protect the aggregate, should barely sting at all.
WineHunter.

User avatar
SteveG
Posts: 496
Joined: October 13th, 2009, 2:13 pm
Location: central Ohio

Re: Wine insurance for wines stored at offsite storage

#19 Post by SteveG » June 22nd, 2020, 12:53 pm

FWIW, I just had this conversation, but I had it with my insurance agent rather than a wine locker merchant.

My insurance is apparently typical (but not universal), in that wine is covered under the normal "personal property" portion of our homeowners', and pretty much anywhere in the USA as long as it is there by my intention. There is sufficient blanket coverage for the entire value, however she did recommend that I separately cover the $500 deductible portion for wine (in case of something happening in shipping, moving, etc.), for $19/year.

I would also say that if I were running a wine storage facility I certainly would not be giving any advice on this subject other than "..insuring your wine sounds like a good idea to me."
steve gurevitz

User avatar
Victor Hong
Posts: 17790
Joined: May 30th, 2009, 1:34 pm

Re: Wine insurance for wines stored at offsite storage

#20 Post by Victor Hong » June 22nd, 2020, 1:38 pm

Safe Harbour debacle is a good example whereby you can afford a luxury only if you can also afford to insure it properly.
WineHunter.

Nick Gangas
GCC Member
GCC Member
Posts: 7524
Joined: August 7th, 2009, 6:27 pm

Re: Wine insurance for wines stored at offsite storage

#21 Post by Nick Gangas » June 22nd, 2020, 3:22 pm

Victor Hong wrote:
June 22nd, 2020, 12:49 pm
Nick Gangas wrote:
June 22nd, 2020, 12:12 pm
here's my strategy. I have insurance for $100,000. Now my cellar is worth much more and in 2 places. So if one burns down will I be made whole ? no. But I still have a lot of wine in another location. I then can spend what I want to replace on what I want but will probably bank a bunch. My cost is around $700 a year.
There is still correlation risk. What if electric power in your overall area goes down, such that the wines in two separate places both get heat-damaged?
If your wine is worth so much, insuring it all properly will not add greatly to its total cost, anyway. Selling one or two bottles yearly, in order to protect the aggregate, should barely sting at all.
Yes agreed. Unless Teumps buddies in the politburo get pissed and turn off all of northern Illinois at once in July I feel like I can handle the risk. If I lose power in my house in La Grange I can also get ice to keep it cold enough. The wine storage is in the city so a significant distance away.

Life is not without risk.

User avatar
JohnP
Posts: 416
Joined: August 14th, 2017, 10:35 pm

Re: Wine insurance for wines stored at offsite storage

#22 Post by JohnP » June 22nd, 2020, 6:19 pm

SteveG wrote:
June 22nd, 2020, 12:53 pm
FWIW, I just had this conversation, but I had it with my insurance agent rather than a wine locker merchant.

My insurance is apparently typical (but not universal), in that wine is covered under the normal "personal property" portion of our homeowners', and pretty much anywhere in the USA as long as it is there by my intention. There is sufficient blanket coverage for the entire value, however she did recommend that I separately cover the $500 deductible portion for wine (in case of something happening in shipping, moving, etc.), for $19/year.

I would also say that if I were running a wine storage facility I certainly would not be giving any advice on this subject other than "..insuring your wine sounds like a good idea to me."
$19 a year seems pretty reasonable to insure for damage such as accidental breakage. Maybe a small amount of wine (i.e. $1000)? Do you mind sharing the company and state you have a policy? Sound like something I'd want to explore.
Last edited by JohnP on June 22nd, 2020, 6:21 pm, edited 1 time in total.
John Pollard

User avatar
Dennis Lopez
Posts: 30
Joined: February 19th, 2015, 9:22 pm
Location: Arcadia, CA

Re: Wine insurance for wines stored at offsite storage

#23 Post by Dennis Lopez » June 22nd, 2020, 6:21 pm

My broker found BlueWater for me after I had wine insurance through my homeowners. BlueWater is more complete coverage and all I have to do is send them a quarterly inventory. They also cover my wine that is offsite. BlueWater was also cheaper than covering my wine through my homeowners policy.

User avatar
Andrew K.
GCC Member
GCC Member
Posts: 529
Joined: April 24th, 2020, 11:41 am
Location: Atlanta, GA

Re: Wine insurance for wines stored at offsite storage

#24 Post by Andrew K. » June 22nd, 2020, 6:37 pm

Yes I posted in another thread recently but I also use Bluewater. They cover in house and storage facilities at the same rate. Reasonable to me.
к𝓁ย𝐠

User avatar
SteveG
Posts: 496
Joined: October 13th, 2009, 2:13 pm
Location: central Ohio

Re: Wine insurance for wines stored at offsite storage

#25 Post by SteveG » June 23rd, 2020, 5:37 am

JohnP wrote:
June 22nd, 2020, 6:19 pm
SteveG wrote:
June 22nd, 2020, 12:53 pm
FWIW, I just had this conversation, but I had it with my insurance agent rather than a wine locker merchant.

My insurance is apparently typical (but not universal), in that wine is covered under the normal "personal property" portion of our homeowners', and pretty much anywhere in the USA as long as it is there by my intention. There is sufficient blanket coverage for the entire value, however she did recommend that I separately cover the $500 deductible portion for wine (in case of something happening in shipping, moving, etc.), for $19/year.

I would also say that if I were running a wine storage facility I certainly would not be giving any advice on this subject other than "..insuring your wine sounds like a good idea to me."
$19 a year seems pretty reasonable to insure for damage such as accidental breakage. Maybe a small amount of wine (i.e. $1000)? Do you mind sharing the company and state you have a policy? Sound like something I'd want to explore.
I an in Ohio, and it is Cincinnati Insurance (possibly a captive of somebody much larger (and with a national footprint), I don't know). I can't vouch for their service as we are just switching from Chubb, but I would guess they are pretty good since I doubt my agent wants to make his job harder.
steve gurevitz

User avatar
Victor Hong
Posts: 17790
Joined: May 30th, 2009, 1:34 pm

Re: Wine insurance for wines stored at offsite storage

#26 Post by Victor Hong » June 23rd, 2020, 6:20 am

A better commission may be his incentive.
WineHunter.

User avatar
Brandon R
GCC Member
GCC Member
Posts: 1627
Joined: November 10th, 2015, 5:07 pm

Re: Wine insurance for wines stored at offsite storage

#27 Post by Brandon R » June 23rd, 2020, 8:21 am

Victor Hong wrote:
June 23rd, 2020, 6:20 am
A better commission may be his incentive.
You're awfully cynical toward insurance professionals, Victor. Has it occurred to you that one might (or might not) be recommending a change because it's the best course of action for the insured?
B. Redman

User avatar
Brandon R
GCC Member
GCC Member
Posts: 1627
Joined: November 10th, 2015, 5:07 pm

Re: Wine insurance for wines stored at offsite storage

#28 Post by Brandon R » June 23rd, 2020, 8:22 am

Victor Hong wrote:
June 23rd, 2020, 6:20 am
A better commission may be his incentive.
You're awfully cynical toward insurance professionals, Victor. Has it occurred to you that one might (or might not) be recommending a change because it's the best course of action for the insured? My agent is fantastic and, I happen to believe, he represents the majority of agents out there. Changes are recommended when it makes sense for the insured.
B. Redman

YLee
Posts: 1935
Joined: September 20th, 2018, 8:09 am

Re: Wine insurance for wines stored at offsite storage

#29 Post by YLee » June 23rd, 2020, 8:37 am

Has anyone dealt with filing a claim and can provide either good or not so good experience?
-¥ 0 ñ 9

User avatar
Gabe Berk
Posts: 310
Joined: October 24th, 2018, 9:51 am

Re: Wine insurance for wines stored at offsite storage

#30 Post by Gabe Berk » June 23rd, 2020, 9:00 am

YLee wrote:
June 23rd, 2020, 8:37 am
Has anyone dealt with filing a claim and can provide either good or not so good experience?
No wine claims, but for residential and commercial claims, CHUBB is exceptional. They have a rating A++ Superior which is the highest rating in the insurance world.

There is wonderful coverage for wine once its at your house or off site location. Ironically, during delivery (highest potential for damage) from the winery to you, there is virtually no insurance for heat, freezing, popped corks, theft, non-delivery, lost in transit, etc. from FedEx or UPS "additional insurance". [swearing.gif]

User avatar
Victor Hong
Posts: 17790
Joined: May 30th, 2009, 1:34 pm

Re: Wine insurance for wines stored at offsite storage

#31 Post by Victor Hong » June 23rd, 2020, 9:35 am

Brandon R wrote:
June 23rd, 2020, 8:22 am
Victor Hong wrote:
June 23rd, 2020, 6:20 am
A better commission may be his incentive.
You're awfully cynical toward insurance professionals, Victor. Has it occurred to you that one might (or might not) be recommending a change because it's the best course of action for the insured? My agent is fantastic and, I happen to believe, he represents the majority of agents out there. Changes are recommended when it makes sense for the insured.
In mortgage derivative parlance, the agent owns the IO strip while the insured owns the PO strip, conferring divergent incentives to each person. Economics recognizes the objective influence of formal monetary incentives, without implying subjective character traits. Perhaps, you are inferring them on your own, but attributing them to others.

By nature, commissions are sales-contingent incentive compensation. I myself was a financial sales agent, although not in insurance, before trading in a telephone, pencil, and paper, in favor of wok and ladle.
WineHunter.

User avatar
John Davis
GCC Member
GCC Member
Posts: 3055
Joined: January 28th, 2009, 1:27 pm
Location: Indiana

Re: Wine insurance for wines stored at offsite storage

#32 Post by John Davis » June 23rd, 2020, 11:51 am

I have used State Farm and Chubb and supplied them both with inventories yearly. I have most of my wine in off site storage and insure all of it.
ITB

User avatar
Yao C
Posts: 981
Joined: February 1st, 2017, 10:53 pm
Location: Portland / San Francisco

Re: Wine insurance for wines stored at offsite storage

#33 Post by Yao C » June 23rd, 2020, 12:32 pm

Gabe Berk wrote:
June 23rd, 2020, 9:00 am
Ironically, during delivery (highest potential for damage) from the winery to you, there is virtually no insurance for heat, freezing, popped corks, theft, non-delivery, lost in transit, etc. from FedEx or UPS "additional insurance". [swearing.gif]
Just the same way lenders prefer to lend money to those who don't need it...
C h 0 o n 6

User avatar
Victor Hong
Posts: 17790
Joined: May 30th, 2009, 1:34 pm

Re: Wine insurance for wines stored at offsite storage

#34 Post by Victor Hong » June 23rd, 2020, 12:37 pm

Yao C wrote:
June 23rd, 2020, 12:32 pm
Gabe Berk wrote:
June 23rd, 2020, 9:00 am
Ironically, during delivery (highest potential for damage) from the winery to you, there is virtually no insurance for heat, freezing, popped corks, theft, non-delivery, lost in transit, etc. from FedEx or UPS "additional insurance". [swearing.gif]
Just the same way lenders prefer to lend money to those who don't need it...
Check your credit-card benefits, for purchased-item insurance coverage.
WineHunter.

User avatar
SteveG
Posts: 496
Joined: October 13th, 2009, 2:13 pm
Location: central Ohio

Re: Wine insurance for wines stored at offsite storage

#35 Post by SteveG » June 23rd, 2020, 1:12 pm

Just to be clear, although nothing is guaranteed, I would not have mentioned the name of the carrier (or even addressed the topic) if I did not have complete confidence in my agent. Chubb has been our insurer (through this same agent) for 28 years, and our experience has been excellent, although I am sure they made plenty of money on us. We switched because Chubb quoted renewal rate almost 20% higher than last year, although we had no claims.

I am well aware that the agency (they are also a broker) gets paid for renewals, new customers, etc., but I am confident that switching our insurance, along with dozens of other customers', is a lot of work compared to renewing, as well that we are all expecting the same sterling service from him and our new carrier that we have always received from Chubb.
steve gurevitz

User avatar
Gabe Berk
Posts: 310
Joined: October 24th, 2018, 9:51 am

Re: Wine insurance for wines stored at offsite storage

#36 Post by Gabe Berk » June 23rd, 2020, 1:25 pm

Victor Hong wrote:
June 23rd, 2020, 12:37 pm
Yao C wrote:
June 23rd, 2020, 12:32 pm
Gabe Berk wrote:
June 23rd, 2020, 9:00 am
Ironically, during delivery (highest potential for damage) from the winery to you, there is virtually no insurance for heat, freezing, popped corks, theft, non-delivery, lost in transit, etc. from FedEx or UPS "additional insurance". [swearing.gif]
Just the same way lenders prefer to lend money to those who don't need it...
Check your credit-card benefits, for purchased-item insurance coverage.
Credit Card insurance is secondary to FedEx and UPS and excludes coverage for perishables including wine...

User avatar
ERPark
Posts: 3458
Joined: March 7th, 2015, 6:48 am

Re: Wine insurance for wines stored at offsite storage

#37 Post by ERPark » June 23rd, 2020, 4:57 pm

Curious if anyone may know if coverage extends to situations when you’re personally transporting wines from a location to your offsite or home cellar? I have a couple cases I will eventually need to bring back to the West Coast, and was thinking of securely packing them and checking them on an airline flight.
GEN3

User avatar
Chuck Miller
GCC Member
GCC Member
Posts: 2285
Joined: June 1st, 2009, 7:58 am
Location: Seattle, WA

Re: Wine insurance for wines stored at offsite storage

#38 Post by Chuck Miller » June 23rd, 2020, 8:15 pm

To be clear, if I am reading Steve correctly, he didn’t get wine coverage for $19/yr. He has sufficient blanket coverage from his homeowner’s policy. The $19 is only covering the $500 deductible. Still seems reasonable.
Chuck Miller

Carlton McCrindle
GCC Member
GCC Member
Posts: 403
Joined: November 2nd, 2011, 9:25 am

Re: Wine insurance for wines stored at offsite storage

#39 Post by Carlton McCrindle » June 23rd, 2020, 9:32 pm

John Davis wrote:
June 23rd, 2020, 11:51 am
I have used State Farm and Chubb and supplied them both with inventories yearly. I have most of my wine in off site storage and insure all of it.
Are you using them simultaneously or simply one at each location?
I use SF on the residence but am looking around. They have not been helpful with regard to insuring my cellared wines in the home.

User avatar
John Davis
GCC Member
GCC Member
Posts: 3055
Joined: January 28th, 2009, 1:27 pm
Location: Indiana

Re: Wine insurance for wines stored at offsite storage

#40 Post by John Davis » June 24th, 2020, 6:49 am

Simultaneously. The storage location offers insurance and it may be perfectly fine. I take a bit of comfort knowing my agent and knowing regardless the wine is insured.
ITB

User avatar
Brent C l a y t o n
Posts: 5505
Joined: May 6th, 2009, 9:21 am
Location: Elmhurst, NY
Contact:

Re: Wine insurance for wines stored at offsite storage

#41 Post by Brent C l a y t o n » June 24th, 2020, 7:49 am

You would have to drop a bomb on VWW to even have a chance of your collection being impacted. It's a former supermarket warehouse. Reinforced concrete. Of course they have temp control but it stays naturally cool most of the year. The only scenario as Michael probably described to you is accidental breakage if they are moving your boxes around.
‘Purveyor of Plonk’
Threadsinker
ITB Sales
IG@bigdaddyb420wine

User avatar
John S
Posts: 922
Joined: May 29th, 2009, 11:45 am
Location: Chapel Hill, NC

Re: Wine insurance for wines stored at offsite storage

#42 Post by John S » June 24th, 2020, 8:00 am

FWIW, homeowners insurance is pretty poor for wine. It falls under collectibles and limits are usually super low. If it got baked not even sure you could claim. Agents are often pretty clueless on this and say yes covered but if you really dig in you will likely find the coverage if poor at best.

My parents have Chubb and had a wine claim which was super easy. They lost power for a week and Chubb covered it quickly. I use Pure for my wine coverage and have never had a claim but they are also great to work with. There are a few other specialists for collectibles like wine but forget who they are.

If the values are under 50k or something maybe nothing special is needed.
John Sprow

YLee
Posts: 1935
Joined: September 20th, 2018, 8:09 am

Re: Wine insurance for wines stored at offsite storage

#43 Post by YLee » June 24th, 2020, 8:16 am

Brent C l a y t o n wrote:
June 24th, 2020, 7:49 am
You would have to drop a bomb on VWW to even have a chance of your collection being impacted. It's a former supermarket warehouse. Reinforced concrete. Of course they have temp control but it stays naturally cool most of the year. The only scenario as Michael probably described to you is accidental breakage if they are moving your boxes around.
Funny but I think true. Have you ever seen how the wines are stored? Are they on shelves? Wonder if a shelf falls could it do some massive damage. Like a Domino effect.
-¥ 0 ñ 9

User avatar
Brent C l a y t o n
Posts: 5505
Joined: May 6th, 2009, 9:21 am
Location: Elmhurst, NY
Contact:

Re: Wine insurance for wines stored at offsite storage

#44 Post by Brent C l a y t o n » June 24th, 2020, 8:22 am

I have not been to the lower levels but I assume they use the same heavy duty industrial racking that they have installed on the main floor.
‘Purveyor of Plonk’
Threadsinker
ITB Sales
IG@bigdaddyb420wine

Post Reply

Return to “Wine Talk”