Wine connoisseurs reminded of insurance need

Fine wine connoisseurs have been reminded of the need to properly insure their collections.

Zurich Insurance noted it is important people adequately protect the expensive drinks at a time when they are becoming increasingly attractive as a collectable investment option.

The provider was speaking in response to predictions from the Wine Investment Fund, which suggested the Live-ex 100 – the primary wine index – is set to finish 14 per cent higher at the end of 2013 compared to the culmination of 2012.

Collectors have therefore been told that finding the right insurance could prove invaluable should their bottles be damaged or stolen.

Ged Holding, technical underwriting manager at Zurich – which employs around 4,200 people in locations throughout the UK – explained the last few years have witnessed a revolution in wine tasting.

Mr Holding stated: “It has become a popular investment and sales of highly valuable and rare wines continue to increase. The majority of our high net worth customers will have a significant wine collection.”

The value of a case of wine could be significantly impacted in the event of a house fire or flooding, he added.

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