Cover your Cabernet Sauvignon

COVER YOUR CABERNET SAUVIGNON

Article date: 08/09/2005 : 15:36:37

As more and more of us turn to stockpiling our cellars with fine wines in case of dire Merlot emergencies, a new report has warned we may not have given enough thought to insuring the ever-expanding collection.

The new Chubb Insurance Wine Report has found that many people either do not insure their wine collection at all, or are under-insured, meaning that in the event of a flood, break-in or just temperature fluctuation hundreds or even thousands of pounds could be lost on wine alone.

People are storing 40 per cent more wine in their homes than five years ago, the report found. Of these people, 65 per cent have not insured their cellars at all, while 85 per cent have not insured them enough.

At particular risk are the "stockpilers" - those who really fill up their cellars with the sort of wine that improves with time. Those who buy case by case are also at risk, while those who buy in bulk from France for special occasions are advised to check they haven't gone beyond their home contents insurance.

Those of us in the insurance clear are described as "short-term tipplers" - people who only buy on a need to drink basis and therefore don't require any extra insurance - the wine just doesn't stay unopened long enough for this crowd.

John Sims, European head of personal insurance at Chubb, advises wine collectors: "Getting the values right and ensuring you're properly covered should mean you're not out of pocket if the worst occurs."



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