Happy New Year to you all! So I've now packed most of the cellar and already planning on the reshuffle to make it work better
Anyhow, now it's all back under the roof how do people go about insuring their collection?
I'd hate something to happen to the house and don't have the wine properly covered and documented. Is there someone that can assess your collection for insuring or do you just go through your normal Home Building / Contents insurance and call out the specifics?
I never bothered. I added up my insurance one year and it was sobering. Life Insurance, Professional Insurance, House Insurance, Landord Insurance ( many policies ) , Medical Insurance x 2 to cover where my contract didn’t. There were many more.
So in the end I did a risk assessment and figured I could do without wine insurance and car insurance.
"Barolo is Barolo, you can't describe it, just as you can't describe Picasso"
I'm interested to learn where people store wine for those that have insurance under their existing home and contents cover. I have wine listed under my home and contents and the insurer was happy that I had a list or record of wines and values etc. They were happy to even cover the wine when it was in an offsite storage. The problem arose when I purchased, refurbished and installed an insulated shipping container in the back yard.
When I went to change the location of the wine, they then, after lots of questions and discussion, said that they would not cover the wine (or any other contents), of the container as they considered it a portable object - despite being approx 3,300Kg before anything is added to it. I have now moved all the better or more expensive wine back into the house - which defeats the purpose of the container
I struggle to believe that your home insurance would actually pay out for your wine collection when considering the biggest risks you face (temperature shock, accidental breakage either through manual handling or racking failure).
They might pay you if your wine collection is stolen - but I'm guessing most here don't have collections worth stealing (thinking practically - not because you don't have lovely wine!!!), so really you're talking about fire & flood.
I'd be looking for a specialist, to be honest, but I don't know if there are any in this country.
My biggest concern is fire - followed by theft I guess, I live rurally surrounded by bush. A friend of mine lost their collection to a bush fire and was covered for the replacement cost based on secondary market valuations - it was listed separately. I have more detail / documentation etc on my wine collection and cabinets than any of my other contents....
Interesting reading. The cost of insurance at a facility like Kennards seems extraordinarily expensive and a complete rip off. How do they justify the cost? Protection against theft is very good though the scenario not impossible. Better than most residential housing. Fire? That’s the probable risk I guess. Equipment failure is not going to ruin a collection due insulation or unless it runs haywire.
Probably just out the moz on my collection.
"Barolo is Barolo, you can't describe it, just as you can't describe Picasso"
I struggle to believe that your home insurance would actually pay out for your wine collection when considering the biggest risks you face (temperature shock, accidental breakage either through manual handling or racking failure).
They might pay you if your wine collection is stolen - but I'm guessing most here don't have collections worth stealing (thinking practically - not because you don't have lovely wine!!!), so really you're talking about fire & flood.
I'd be looking for a specialist, to be honest, but I don't know if there are any in this country.
Mine is also with home home contents insurance. It will cover fire, theft, etc. It won't cover spoilage due to the cooling unit not functioning. Even if that happens, the wine in the cellar isn't going to be ruined instantly. I'd have a good few days even in the middle of summer to deal with the problem.
My main concern is should the house burn down kind of thing. Theft less of an issue. Unless it's an organised job, good luck getting away with more than a dozen or two in a timely fashion.
