Chubb’s foundation is supported by its industry-leading underwriting, claims and risk engineering capabilities. The following includes information about each of Chubb’s North American business lines. If you would like to request an interview with one of Chubb’s spokespeople or to learn more, please contact Chubb media relations at news@chubb.com.
Part 3 of 6
If your favorite winery is out of state, you may have to either fly there or have individual bottles shipped to you, which can become extremely costly.
Again, offsite storage offers you a remedy for this problem. For a small fee or even for free, you can store your purchases until you have enough bottles to ship a larger amount, a far more cost-effective method of shipping individual bottles.
Shipping larger quantities (e.g., a pallet of wine that is more than 25 or 30 cases) will justify your shipment as truck freight. Truck freight can be temperature controlled from pickup to destination, preventing your wine from spoilage, and, therefore, loss of value. An added advantage to shipping a large order is that it is easier to track and manage than numerous small ones.
When shipping large collections, or high-priced individual bottles, choose companies with fine art/wine experience, instead of common carriers. These companies typically have hiring practices that reduce the chance of loss to pilferage or theft. Also, their vehicles employ air-ride suspensions and temperature-controlled systems, which reduce the potential for breakage and spoilage.
Finally, single- and double-bottle shipments can pile up quite quickly, leaving a busy person who collects wine to simply toss the shipments into the wine cellar unopened. When you overlook the “to open” date, you can end up with a lot of expensive wine that has passed its maturity date.
Track Your Liquid Assets
If you’re like some collectors, you may have become a little lax in tracking your wine purchases, consumption, sales and holdings. You think you have 2,000 bottles, but you’re not certain. That makes it difficult if you want to enjoy a particular vintage, sell it or keep track of its maturity date.
Some companies not only store your wine but also verify each bottle, including vintage, name, quantity and bottle size and enter this data into a wine management system, which includes information on values and maturity dates. These firms may also be able send someone to your home to take digital photographs of the labels of wines in your cellar, tag each with a bar code identification and load the images into the system. For the do-it-yourselfer, Web-based wine-management systems can enable you to inventory your wine collection.
Wines are sometimes stored on beautiful redwood racks, but if you live in an earthquake-prone region, these will not prevent the harsh shaking that can change the composition of and devalue your wine.
Corrosion-resistant steel rack anchored to concrete footings in the floor can protect wines from earthquake shaking. Alternatively, wrap clear fishing line around the necks of your wine bottles and secure the bottles to the rack. This will not only keep the bottles in place, but the wire is invisible so the remedy is not aesthetically unappealing or unsightly.
An added word of caution: Constant vibration from machines, motors, generators and roadways can also be harmful, as can excessive sound.
Next: Building a Wine Cellar: Think Outside the Box (part 4 of 6)
The opinions and positions expressed are the authors’ own and not those of Chubb. The information and/ or data provided herein is for informational purposes only and is not a substitute for professional advice. Insurance coverage is subject to the language of the policies as issued.