Protect your liquid assets

man looking at a wine bottle

$8.4 million: That's what one wine collection brought at a Chicago auction. Nearly 1,000 bidders from 4 continents, 17 countries and 42 states participated, with one 5-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 might 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 scenario: 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.

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

With Nationwide Private Client risk solutions 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.

Coverage feature How Nationwide Private Client's collections coverage responds
Coverage territory Worldwide coverage
Valuation Wine is covered at its market value; you are compensated at the cost to buy the bottle at today’s market price. If the bottle has appreciated since the purchase, you would realize the appreciated value. In the case of an individually scheduled bottle, if at the time of covered loss the market value has increased and exceeds its scheduled amount of coverage, we may pay its market value as measured immediately before a covered loss, up to 150% of the scheduled coverage amount.2
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 drains Wine collections are often stored in basements, making them susceptible to losses due to backup of sewers and drains. Nationwide Private Client provides coverage if such a loss occurs.
Mechanical breakdown You’re protected if wine spoils due to failure of the climate control system.
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 altogether.
Flood Coverage is provided in the event of a flood loss to your wine collection.
Deductible There is no deductible for a covered loss.

[1] "Wine collection of indicted oil exec sells for $8.4M at Chicago auction," Greg Trotter, Chicago Tribune, (Sept. 20, 2016).
[2] This valuation applies in certain cases. Documentation is required, including an appraisal, bill of sale or purchase receipt representing the valuable article and that is not older than five years from the date of loss and not more than the coverage limit for the class to which the valuable article belongs.