Wine connoisseurs enjoy the avid hunt for that perfect bottle of Grand Cru Burgundy. And as their collection grows, a desire arises for a roomy wine cellar and a burgeoning financial budget for this passion. Along with this investment comes a need for airtight insurance coverage, protection that a standard homeowners policy likely cannot provide. The following are some coverage tips for those who own and enjoy extensive fine wine collections.

Ø  Obtain an appraisal. Utilize the services of a wine-appraisal expert to get your collection properly valued. This figure will give you a good idea of the proper limits needed.

Ø  Evaluate your storage space. Additional insurance may be necessary to properly protect your wine storage area (e.g., cellar).

Ø  Ask detailed questions about specialized wine insurance coverage. Does the wine insurance policy or floater policy provide worldwide coverage? Does it cover mechanical breakdown, earthquake, wine-in-transit, and spoilage losses? Is there immediate coverage for new purchases? What about damage to the label? And how customizable is the coverage?

Ø  Shop around. Work with your agent to get at least three quotes from reputable insurers before making your decision.

Ø  Maintain an up-to-date inventory. Notify your agent when significant changes are made to your wine collection.

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