Hey Holbrook Wine Enthusiasts, have you ever thought about investing in your Wine Collection? Check out LI Insurance

One thing millions of people in the U.S. have in common is they enjoy drinking wine. Wine continues to grow in popularity and is even gaining ground on beer. It is seen as a healthier drink compared to beer, it is often attached to fine dining and the interest in building wine collections in increasing throughout the United States. And like most other hobbies that people invest significant amounts of money in, there should be a greater concern with properly protecting this investment. Therefore, it is not surprising that a healthy market has developed for Wine Insurance.

In most cases, homeowners hardly ever add extra insurance to their homeowners policy and protect it using a similar procedure that they use when it comes to their higher value property such as furs, jewelry, musical instruments, etc. However, a market of specific insurance has been developed to offer tailor-made protection. The wine collector’s approach falls into two broad areas and those areas easily determine whether generic or specialty coverage should be selected.

Most collectors invest in wines that, eventually, will be consumed. However, these wine collectors often purchase more expensive wines than the average wine drinker, they tend to buy a higher quantity wines and store the collection in their homes. For these collectors, investing in scheduled coverage for their wine collection and related items, may be all the protection that is necessary.

Those who are serious collectors are more attracted to purchasing wine insurance policies than those who just buy and then auction them off. Besides for providing fire coverage, wind, theft and other common loss sources, Wine policies will protect certain wines according to their market value as well as against losses caused by accidental breakage, damage to labels, power outages, mechanical breakdowns of temperature control systems, harm from excessive light, heat or vibrations and other risks that target wines. Coverage can also be purchased for rare vintage wines that must be protected against substantial loss of value from even slight shift of its bottle label.

Further, wine insurance coverage is appointed toward protecting a wider variety of property such as:

·         Aerators

·         Corkscrews

·         Decanters

·         Refrigerated Wine Cabinets

·         Stemware

·         Wine Racks

·         Wine Furniture, including built-in cellars

·         Wine Collecting Accessories

So, if you are someone who has a strong interest in wines, especially if you have invested in them, make sure you take that extra step to protect your investments by purchasing Wine Insurance.

 

If you have any further questions involving your existing policy or you are inquiring information about a possible future policy, please call us at (631) 738-7300 or get a quick quote at www.vrpinsurance.com

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August 20th, 2012 by VRP Insurance Agency