'Smart' Wine Storage Insurance
Most storage providers offer insurance cover. But all cover is not alike...
If your storage provider offers insurance for a flat-fee/case without regard to your wine's value:
How do you know what you'll receive in the event of a claim?
Cellarit's insurance is based on value. You set the price according to your cost or the market value of your wine (Cellarit can provide a market valuation free-of-charge). This data is secure, backed-up and easily provided to the insurer for documentation in the event of a claim.
What if there's a catastrophic event such as a fire?
It's easy for a storage provider to pay claims for the occasional dropped bottle and in this sense most providers are self-insuring for some claims. But what happens if there's a total loss due to a fire? If your wine isn't insured to a specific value then clearly your storage provider has only provided an estimated total value to the insurer when it purchased cover. If they underestimated the requirement you're out of luck! Cellarit keeps precise track of all wine insured and its value and makes frequent adjustments to its policy to ensure that full cover is always in place.
Are you, in fact, the beneficiary of the coverage?
Cellarit's policy specifically provides that the ultimate beneficiary of a claim is the customer, not Cellarit. This is important! After Heritage Fine Wines failed, for example, its policy was found to name Heritage Fine Wines as the beneficiary so any pending payouts will benefit Heritage creditors, not wine owners.
Additional Info:
- Our software makes valuation easy. You can upload your wine details to Wine-Searcher to find current market value. Just click on the price/quantity icon next to each wine you wish to value.
- It's best to assign accurate and current individual values to your wine. Otherwise your payment in the event of a claim may be less than full value if the insurer determines that your collection as a whole was under-insured.
- If you prefer Cellarit to value your collection (free-of-charge) please let us know. We'll make an estimate to cover you until the valuation is complete.
- View insurance cover details
*subject to a minimum administration fee of $0.06 per 750ml bottle per month