Contrary to what you may think about wine insurance, collections do not have to be investable pieces to benefit from an insurance policy. In fact, some insurance companies say that if you are spending 10% of your monthly income on wines, even if it is for personal consumption, then it is worth considering an insurance package for it.
Not least, fine wine collectors should consider insuring their wine if they are maintaining a cellar to keep it in. Home cellars are known for being difficult to maintain with the vast majority of wine insurance claims being a direct result of home cellar issues, including bottle damage from incorrect temperature control, spoilage from power issues or even theft.
Even those collectors who are confident in their storage of wines should seriously consider wine insurance. This is especially the case if your wine is worth more than £1,000.
In short, if you would be disappointed at the loss of your wine collection, or even just part of it, then a wine insurance policy should be considered. After all, the likelihood is that you have home or contents insurance on items of a less value, so it really makes perfect sense.