Home insurance policies should cover fruit of the vines

Fri, 09 Sep 2005

Wine connoisseurs with their own wine cellars are being urged to ensure their wine cellars are covered by their home insurance policies.

Inadequate storage conditions could damage precious wines, leading to significant losses.

Compared to five years ago, British wine lovers are keeping up to 40 per cent more wine in their homes today, Chubb Insurance found.

And with more expensive fine wines stored in homes, custom-built cellars and temperature-controlled wine storage units are becoming more popular.

The European head of personal insurance at the insurance provider, John Sims noted that wine sales in the UK have grown by almost a third over the last five years. UK wine sales last year amounted to £7.6 billion last year.

"Our insurance appraisers are seeing more substantial wine collections being stored in homes, with more than half of our policyholders now using a cellar or purpose-built storage," Mr Sims commented.

This could be an insurance risk for homeowners if they do not ensure their home insurance policies cover their wines.

Fluctuation in temperatures, water damage and humidity could all ruin wine collections, but it was found that wine lovers with inadequate insurance are "the norm rather than the exception".

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