Assurance Œuvres d'Art | Lussier Dale Parizeau

Wine Cellar Insurance

Are you a wine connoisseur? Then you know that stocking up a wine cellar is an investment that numbers in the thousands of dollars. For these reasons, we recommend that you share your passion for oenology with our insurance brokers, whether you own $50 bottles or exceptional vintage wines that are invaluable because of their scarcity and age.

 

Depending on the size of your wine cellar, you may elect to insure it:

  • by increasing the value of your personal property on your home insurance policy
  • or by adding an endorsement for a specific coverage.

 

Included in personal property…

 

In standard home insurance policies

Generally contains limits on the individual value of bottles ($100 to $200) and the total insured amount ($5,000 to $10,000).

In high-value home insurance policies

Generally doesn’t contain limits. The insurance can cover a single bottle worth $200 to $5,000 or a wine cellar valued at $20,000 to $250,000.

 

In both cases, breakage and deterioration of bottles are excluded from the risks covered by the insurance policy.

 

…Or by a specific coverage (endorsement)

Benefits of having a specific insurance for your wine cellar:

 

 1

In the event of a claim, zero deductible and no negative impact on your insurance record.

2

By insuring specifically your wine, new acquisitions are automatically covered for 90 days for the purchase date – whether they be in storage or in transit – after which you will be required to notify your insurance broker of these new purchases.

3

In addition, with a specific coverage, in the event of a claim, your loss will be handled exclusively by qualified experts.

 

Comprehensive form vs. detailed list

It is possible to insure your entire wine collection under a comprehensive form or in a detailed list.

If you make a list of your bottles, you can agree on a replacement value for compensation.

For connoisseurs who make a detailed list of their bottles and have them assessed – at over $5,000 for some of them – we strongly suggest purchasing a higher specific coverage.. It also covers wines against deterioration caused by temperature variation or humidity, vibrations, exposure to light, and loss or breakage of labels.