Protect your liquid assets

wine bottles

$8.4 million – that’s what one wine collection brought at a Chicago auction. Nearly 1,000 bidders from four continents, 17 countries and 42 states participated, with one fiver-liter bottle alone selling for $33,460.¹ Wine can be a great investment.

In insurance terms, wine is considered part of your household contents which are included under the personal property coverage provided by your homeowners policy. As such, your homeowners policy protects your collection from theft, fire or breakage if caused by a covered peril. Any covered loss will be subject to your policy deductible. However, the following scenarios may not be covered:

  • Breakage caused by dropping a bottle
  • Spoilage due to extreme temperature changes, dampness or dryness
  • Water damage to the label
  • Diminished value due to cosmetic damage to the bottle
  • Damage due to flood

How Nationwide Private Client responds

Imagine this — high winds cause downed trees and a widespread power outage. The power company predicts it could be many days before power is restored. Your cooling system is inoperable, and your $40,000 wine collection spoils. With Nationwide Private Client, you can rest easy.

We offer specialized coverage with our personal collections policy. We just ask that your wine be for investment purposes, not for regular consumption. Collections may be written on a blanket basis or by individually scheduling each bottle. Under the blanket approach, we insure the total value of the collection, subject to a per-bottle limitation. Limits start at $10,000 with options up to $100,000 per bottle.

If you have a small collection and elect not to purchase collections insurance, our homeowners policy includes $5,000 in coverage for wine that is damaged due to power interruption or mechanical breakdown. No deductible applies to food spoilage.

Coverage feature How Nationwide Private Client's collections coverage responds
Coverage territory Worldwide coverage
Valuation Wine is covered at its replacement value: you are compensated at the cost to buy the bottle at today's market price. If the bottle appreciated since the purchase, you would realize the appreciated value. In the case of an individually scheduled bottle, if the market value has increased and exceeds its itemized amount of coverage, we will pay its market value as measured immediately before a covered loss, up to 150% of the itemized coverage amount.
Newly acquired New acquisitions are immediately covered for up to 90 days from the time of purchase. Coverage is up to 25% of the total amount of itemized coverage for the same class.
Breakage We cover loss due to breakage unless specifically excluded. Wine coverage excluding breakage is available at a discounted rate.
Backup of sewer and drain Wine collections are often stored in basements, making them susceptible to losses due to backup of sewer and drain. Nationwide Private Client provides coverage if such a loss occurs.
Mechanical breakdown You're protected if wine spoils due to climate control system failure.
Transit Bottles shipped from your favorite vineyard or store are covered throughout their journey.
Earthquake Earthquake coverage is included, but can be modified to include a 10% deductible or excluded all together.
Flood Coverage is provided in the event of a flood loss to your wine collection.
Deductible There is no deductible for a covered loss.

Make sure your liquid assets are properly protected with Nationwide Private Client’s collections policy.

With Nationwide Private Client Risk Mitigation consultants, you don’t even have to worry about your wine collection spoiling. Our consultants are available to recommend loss mitigation resources and techniques to help protect your wine such as backup generators or temporary off-site storage.

Why Nationwide Private Client

Nationwide Private Client is dedicated to helping protect the assets and reputations of our clients. Our highly personalized insurance products, services and concierge-style claims management are thoughtfully designed to meet the distinctive needs of affluent individuals and families. We are committed to providing you a superior experience whenever you need assistance. Let Nationwide Private Client help relieve the stress.
Nationwide Private Client offers these added benefits:

  • Claims – Exceptional claims handling provided by Nationwide Private Client.
  • Financial strength – Nationwide, a Fortune 100 company,² is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A1 by Moody’s and A+ by both A.M. Best and Standard & Poor’s.³
  • Charitable giving – Nationwide Private Client demonstrates a commitment to local communities through it Partners in Giving program, helping numerous lives each year. This supports Nationwide’s belief in being a good corporate citizen where we work and live. Since 2000, the Nationwide Foundation, a nonprofit, private foundation has contributed more than $394 million to charitable organizations across the U.S.

Additional resources

[2] Based on revenue, Fortune (June 2016).
[3] Ratings affirmed 7/21/16 by Moody’s, 7/7/2016 by A.M. Best, and 4/22/2016 by Standard & Poor’s.

Speak to a Private Client-appointed agent today