You don't have to be a wine connoisseur to own a great collection, but you do need to know how to protect your investment.
In the past five years, wine has become a serious investment for many, and wine cellars and specialist units have become must-have home accessories. As the average wine enthusiast owns at least 10 cases, and lucky purchases can quickly accumulate in value, even a modest collection can be worth a considerable sum. If you are not aware of the true value of your liquid assets, you could find yourself significantly underinsured.
Key threats to your investment include:
- Loss of labels in cellar flood - a growing risk across Europe
- Exposure to extreme temperatures
- Theft
La Playa offers specialist cover for wines in domestic and warehouse storage and in transit. We can advise on reducing your exposure to common risks.
Measures to safeguard your collection:
- Store your wine in a cool dark place, such as a cellar or somewhere where temperature will remain fairly even throughout the year
- If your collection is extensive, consider investing in a temperature-controlled cupboard, or placing wines in a specialist storage warehouse
- Keep wines in their original case as this can add value when you come to sell
- Avoid boiler rooms, washrooms or garages where machinery is active - the vibrations will prevent the wine from settling and maturing properly
- Lay bottles on their side to keep corks moist
- Store in a dry location to avoid moisture damage to labels
- Keep a cellar book updated with details of recent purchases and consumption
- Arrange regular valuations
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