FAQs


How quickly can I obtain coverage?Back to Top
After filling out the online application, you will receive a quote within 72 hours. From there, you can accept the quote, bind the policy and have coverage immediately after payment is received. All of the steps above can be completed over the telephone and/or by email.


How is Cellar Advisors associated with InsureYourWine.com? Back to Top
Cellar Advisors is a premier wine organization, consultancy and logistics provider, serving the needs of private collectors worldwide. Their team manages some of the world’s most significant private collections. When this policy was being created, Cellar Advisors brought the needs of the wine collector to the forefront. Today they assist with any questions related to wine in the policy, and also provide assessments and appraisals.


Who is the insurance policy carrier?Back to Top
Due to solicitation laws, we are unable to include this information on our website. Please contact Jackie Riley at rileyj@bgsurplus.com to receive this information. They are an AM Best A+15 rated, NAIC approved surplus lines insurer. The name will be on the quote and email sent.


Who handles everything on behalf of the insurance carrier?Back to Top
Bliss & Glennon are the brokers who handles all the correspondence, issuances, filings, etc., for the carrier.


Hurricane vs. FloodBack to Top
A Hurricane can cause wind damage and/or flood damage; both of which are covered by the policy.


Am I covered for Flood if I’m in a flood zone?Back to Top
Prior to quoting, we get a flood data report complied by FEMA to see if your covered location is in an A or V 100-year flood zone; for which there is no coverage.


Does this mean I am not able to get the wine policy?Back to Top
You can still get the policy and have coverage for everything else in the policy; just not for flood for that location. Multi-location policies will have coverage for the locations outside the flood zone.


Is there coverage in case of a fire or theft?Back to Top
Coverage for traditional all risk perils including fire, theft, and wind.


Why do the rates vary in different states?Back to Top
Rates are different in certain states because they have greater exposure for wind, EQ, or flood; all part of the policy.


What additional fees may apply to my policy?Back to Top
All have a state tax, but some have a stamping fee, and a filing fee /additional fee.


Why does my submission figure a surcharge that is much less than the $200 premium?Back to Top
The minimum premium is $200 for this policy, which covers up to 100% of your total loss, depending on the situation.


What are the most sought after coverage in this policy?Back to Top
The low rates, the 100% coverage for property in transit, 100% coverage for fire and theft, the 100% coverage for loss due to breakdown of climate control units, and the coverage for earthquake and flood.


If I don’t need all the coverage in the policy or don’t have some of the items covered for loss, can it be customized to my needs?Back to Top
The premium is based on the value of your vintage wine collection and any loss to it that may occur by the covered perils. Everything else is just an added bonus, so there are no changes other than additional coverage for flood, earthquake or international transit.


What is not covered in the policy?Back to Top
Wear and tear, Third Party coverage, intentional loss, consumption, insects or vermin; See page 5 of the online policy under EXCLUSIONS – LOSS NOT INSURED for more.


What is meant by “Exclusion to Third Party” Coverage?Back to Top
If something happens to a third party on your premises or property (such as a bottle of wine breaks of someone else’s property or someone gets injured carrying a bottle of your wine), this policy doesn’t cover the third party liability.


What if there’s a Third Party handling the transit of my collection and there’s a loss?Back to Top
It will be covered under Transit and Accidental Droppage for any loss to your collection only.


What do I need to do to submit a claim?Back to Top
Read your policy carefully. Know ahead of time what is required when there is a loss. If there is a theft, file a policy report; if there are broken bottles, don’t dispose of the broken bottles and/or keep the bottle necks with the cork and seal in tact.


What’s the difference between unauthorized consumption and theft?Back to Top
Basically, the difference between wanting to file a police report or not.


If I want the policy for a large shipment or a move to a different location, how soon can I get the policy and when will it be in effect?Back to Top
The policy can be in effect within hours, but doesn’t take place until copy of check is emailed, faxed, or called in to our accounting department. This should be done in the least 24-hours in advance.


Do I need to provide an inventory of my collection?Back to Top
The only inventory we require are of any bottles valued over $1000 to “schedule.” Otherwise, this is a blanket coverage for up to $1000 a bottle for the fair market value if a loss occurs.


Do you take credit card payments?Back to Top
Our accounting department is not set up to receive credit card payments. You can email or fax a copy of your check payment along with a copy of your invoice. This is a fast and easy way to make payment and you don’t have to send in the check. Otherwise, if you prefer, you can mail in your check to the address provided.


Are policies paid on monthly terms?Back to Top
Payment is made in full to our accounting office. If you wish to finance, please let us know so we can submit the form for your review. Any questions regarding financing will be through the finance company.


What is meant by “Exclusion of Atmospheric or Climatic Conditions”?Back to Top
This refers to weather conditions that don’t break down your climate control units, but causes damage or loss to your collection. For example, wine that is not properly stored in an area where there isn’t a climate control unit and it freezes due to extreme cold or goes bad due to extreme heat, there is no coverage for loss.


What is the difference between this and coverage for “Extremes of Temperature”?Back to Top
If your collection is properly stored using climate control units and/or controlled atmosphere equipment, and a power outage causes them to fail resulting in “loss or damage” to your collection due to freezing conditions or extreme heat, then you are covered.


Am I required to let you know every time I consume, receive or sell a shipment of wine?Back to Top
When your collection becomes more than 120% of your insured value is the only time you need to report the change within 30 days and pay the additional premium. Otherwise, you will not be insured for the additional value if there’s a loss.


Can I get coverage if my vintage wine collection is valued over $500,000?Back to Top
For any collection valued over $500,000, we require prior approval from the insurance carrier before we can quote. Contact Jackie Riley at rileyj@bgsurplus.com for assistance.


Can I get additional Earthquake and/or Flood insurance on this collection?Back to Top
Again, we just need to get prior approval before quoting.


What if I want additional Earthquake and/or flood insurance up to $500,000 of my collection?Back to Top
Let us know and we can quote the additional premium(s) without carrier’s approval.


Does the additional premium cover both Earthquake and Flood?Back to Top
There is a separate premium for both. Some only need additional premium for flood; some for just Earthquake. The additional premium is considerably less, but depending on the amount of additional premium required.


Do I need to get separate coverage if my collection is in more than one state?Back to Top
No. We can issue a multi-state policy. This is where it is important we have the values indicated for each location so we can breakdown the taxes and fees for each state.


Do you charge a policy fee for each location?Back to Top
We charge only one policy fee for each policy. If you request a separate policy for each location, then you will be charged a policy fee for each.


Do you charge a policy fee for annual renewals?Back to Top
Yes. Every time a policy is issued, a policy fee is included to help cover the annual administrative expenses.


Does Fair Market Value mean what I paid for the wine?Back to Top
Fair Market Value is what the market value of the wine is at the time of loss.


What if I just want to see what it will cost or don’t want the policy after reviewing the quote?Back to Top
When you receive an email with the quote, please respond and let the person know you are declining so they can cancel the quote and not inconvenience you.


What if If I decide I want coverage for my wine collection, what do I need to do?Back to Top
After reviewing the quote sent, respond back with any additional information or changes and give the authorization to bind the policy.


How soon can I receive a copy of my wine policy?Back to Top
You will receive a copy of the policy after payment has been received.


Can my own insurance agent take care of everything for me?Back to Top
Yes, they can fill out the submission and work with us directly.