Yes agreed. Unless Teumps buddies in the politburo get pissed and turn off all of northern Illinois at once in July I feel like I can handle the risk. If I lose power in my house in La Grange I can also get ice to keep it cold enough. The wine storage is in the city so a significant distance away.
$19 a year seems pretty reasonable to insure for damage such as accidental breakage. Maybe a small amount of wine (i.e. $1000)? Do you mind sharing the company and state you have a policy? Sound like something Iâd want to explore.
My broker found BlueWater for me after I had wine insurance through my homeowners. BlueWater is more complete coverage and all I have to do is send them a quarterly inventory. They also cover my wine that is offsite. BlueWater was also cheaper than covering my wine through my homeowners policy.
I an in Ohio, and it is Cincinnati Insurance (possibly a captive of somebody much larger (and with a national footprint), I donât know). I canât vouch for their service as we are just switching from Chubb, but I would guess they are pretty good since I doubt my agent wants to make his job harder.
Youâre awfully cynical toward insurance professionals, Victor. Has it occurred to you that one might (or might not) be recommending a change because itâs the best course of action for the insured?
Youâre awfully cynical toward insurance professionals, Victor. Has it occurred to you that one might (or might not) be recommending a change because itâs the best course of action for the insured? My agent is fantastic and, I happen to believe, he represents the majority of agents out there. Changes are recommended when it makes sense for the insured.
No wine claims, but for residential and commercial claims, CHUBB is exceptional. They have a rating A++ Superior which is the highest rating in the insurance world.
There is wonderful coverage for wine once its at your house or off site location. Ironically, during delivery (highest potential for damage) from the winery to you, there is virtually no insurance for heat, freezing, popped corks, theft, non-delivery, lost in transit, etc. from FedEx or UPS âadditional insuranceâ.
In mortgage derivative parlance, the agent owns the IO strip while the insured owns the PO strip, conferring divergent incentives to each person. Economics recognizes the objective influence of formal monetary incentives, without implying subjective character traits. Perhaps, you are inferring them on your own, but attributing them to others.
By nature, commissions are sales-contingent incentive compensation. I myself was a financial sales agent, although not in insurance, before trading in a telephone, pencil, and paper, in favor of wok and ladle.
Just to be clear, although nothing is guaranteed, I would not have mentioned the name of the carrier (or even addressed the topic) if I did not have complete confidence in my agent. Chubb has been our insurer (through this same agent) for 28 years, and our experience has been excellent, although I am sure they made plenty of money on us. We switched because Chubb quoted renewal rate almost 20% higher than last year, although we had no claims.
I am well aware that the agency (they are also a broker) gets paid for renewals, new customers, etc., but I am confident that switching our insurance, along with dozens of other customersâ, is a lot of work compared to renewing, as well that we are all expecting the same sterling service from him and our new carrier that we have always received from Chubb.
Curious if anyone may know if coverage extends to situations when youâre personally transporting wines from a location to your offsite or home cellar? I have a couple cases I will eventually need to bring back to the West Coast, and was thinking of securely packing them and checking them on an airline flight.
To be clear, if I am reading Steve correctly, he didnât get wine coverage for $19/yr. He has sufficient blanket coverage from his homeownerâs policy. The $19 is only covering the $500 deductible. Still seems reasonable.
Are you using them simultaneously or simply one at each location?
I use SF on the residence but am looking around. They have not been helpful with regard to insuring my cellared wines in the home.
Simultaneously. The storage location offers insurance and it may be perfectly fine. I take a bit of comfort knowing my agent and knowing regardless the wine is insured.