Wine Insurance? What’s It?

Wine insurance helps collectors avoid losing money from damage, theft, or spoilage. It covers wine in home cellars, storage facilities, during transportation, and when on display. The policy may include protection from natural disasters, fire, water, theft, and spoilage from equipment failure. To make a claim, policyholders need to record inventory details, describe the damage or losses, and notify the insurance company promptly.

A regular bottle of wine can be bought for around $20 at a nearby store, but a rare 1982 Lafites begins at approximately $8,000 at Sotheby’s Wine Auction (priced at $65,000 in Hong Kong dollars), and a 1959 Romanée-Contis is priced at over $18,000. With resale prices this high, a wine collection of just 100 to 200 bottles could be valued at over a million dollars.

Therefore, choosing the correct wine insurance is crucial for dedicated collectors. The coverage choices, how claims are handled, and additional features for damage and accidents can set apart a satisfactory policy from an outstanding one.

Different Types of Wine Insurance

Wine insurance policies differ based on the type and amount of coverage provided. Here are four popular choices.

  • Damage coverage
  • Theft coverage
  • Spoilage coverage
  • Transit coverage

What Else The Insurance Cover

Besides the ways mentioned above, insurance can also cover unexpected events. You should also think about including these coverages in your fine wine insurance policy.

  • Replacing rare and valuable bottles
  • Wines with agreed-upon values
  • Collectible components like labels and boxes
  • Cleaning up after a loss
  • Appraisal fees
  • Collectors worldwide
  • Wines displayed at auctions or exhibitions

Do you need it?

For the average consumer with several bottles stored in a home cellar, it is not a necessary expense. The Horton Group recommends covering a collection worth $85,000, though it also suggests that “you may wish to begin insuring well below that value.”

Insurance is important to protect against financial risks like damage, theft, and spoilage. People with climate-controlled cellars should especially consider insurance, as faulty equipment could ruin their entire collection. Those who inherit a collection may also want to insure it for sentimental and financial reasons.

How Much Is It?

Insurance costs for wine collections depend on their value and risk factors. For every $100 worth of wine, insurance can range from 40 cents to 80 cents. Therefore, if your collection is valued at $100,000, the yearly premium could be between $400 and $800.

Yet, there could be extra expenses based on how often the bottles are transported, the storage conditions, and the location of the bottles. These factors and a mix of factors decide the total cost of each policy. You can read some Tips for Filing a Insurance Claim if you need.


Transitioning from a casual wine collector to a connoisseur can happen in a short time. Inheriting a collection may require safeguarding what you now own. Insurance can protect valuable wine collections in the long run. Make sure to document your wine collection, learn about insurance options, and select a reliable provider before getting wine insurance. Insurance ensures your valuable wine is protected financially and can age safely.