Wine Collection Insurance

Aside from the enjoyment it brings, a well-stocked wine cellar can be a savvy financial move. In fact, demand for investment-grade wines at global auctions has skyrocketed in recent years. Fortunately, it’s not just a catchphrase that wine improves over time. So for each bottle you buy, you have time to decide if you want to keep it strictly as an investment or designate it for your personal use. In either event, you’ll need to take steps to preserve both the taste and value.

Broad, customizable wine insurance coverage

Most homeowners policies do not cover wine collections, and it’s common for wine collectors to overlook or underestimate the value of what they own. In most cases, you’ll need a distinct policy or rider to protect your collection adequately. Depending on the extent of your wine collection, with AIG Private Client Group you may choose from the following two coverage options:

  • A “blanket” policy features one overall coverage limit and is the best choice if you intend to eventually drink what you have acquired. With this option, you have the flexibility to add and remove bottles without having to notify your insurance provider each time. You’d only have to report a change if the value of an individual bottle grew to exceed the limits on your policy.
  • A “scheduled” policy, in which each bottle or case is itemized or insured separately, is a better choice if you have bottles of the highest-priced vintages or if you intend to hold onto the items in your collection long term.

No matter which option you choose, our policy responds to damage from fire, theft, earthquake, flood and breakage. Our coverage features include:

  • Up to an additional 50% if the market value of the bottle has appreciated above the insured value —if a covered item must be replaced, it’s less vulnerable to market volatility.
  • Mechanical breakdown—you’re protected if wine spoils due to climate control system failure.
  • Newly acquired items—new acquisitions are immediately covered for up to 90 days from the time of purchase.
  • Worldwide coverage—each item included on the policy is protected, regardless of location.
  • In-transit items—rest assured that bottles shipped from your favorite vineyard or store are covered throughout their journey.

AIG Private Client Group’s knowledgeable team of risk management specialists can help you preserve the value of your collection and minimize its exposure to conditions that can lead to breakage or spoilage.

Appraisal recommendations

We can connect you to third party professionals who are best equipped to assess your one-of-a-kind collection.

Storage solutions

We can advise on proper storage conditions when building or renovating your wine cellar.

Inventory management

We can recommend inventory software programs and/or third party vendors that provide cellar inventory solutions. With our help, you’ll know what you own, where it’s located and the opportune time to drink it.

An elite vendor network

Access our directory of pre-screened resources for shipping, buying and selling wine; off-site storage facilities; state-of-the-art security and temperature-control systems.

Last updated: Friday, April 28, 2017

Copyright © 2020 American International Group, Inc. All rights reserved.

AIG Private Client Group is a division of the member companies of American International Group, Inc. (AIG). Policies are underwritten by member companies of AIG, including AIG PROPERTY CASUALTY COMPANY. This is a summary only. It does not include all terms and conditions and exclusions of the policies described. All references to claim settlement information are based on the loss being covered by the policy and are subject to change without prior notice. Please refer to the actual policies for complete details of coverage and exclusions. Coverage and supplemental services may not be available in all jurisdictions and are subject to underwriting review and approval. Services provided by third parties are not guaranteed by AIG Private Client Group and may be discontinued at any time.

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