Being proactive is important in protecting your valuable wine collection. While there may not be a lot you can do to prevent a natural disaster or a fire, there are a few steps you can take to ensure the longevity of your wine collection. Perhaps you've already constructed a wine cellar in your basement, or have just ordered a wine fridge. Either way, here are a few helpful tips to keep your collecting in tip top condition.

• Do not store wine bottles on the ground
• Don’t keep your wine rack next to a vent or washing machine, or anything that generates heat
• Store your wine at 10-15 degrees Celsius
• Keep the storage temperature consistent
• Store your wine at 65-75% relative humidity, to prevent the cork from becoming brittle, difficult to get out or failing
• Store bottles on their sides, this prevents damage to the cork and enables sediment to settle
• Store in the dark, as UV rays can damage wine if bottles are exposed over time
• Store in a temperature and humidity-controlled cabinet, fridge or room
• If you live in a part of Ontario that is prone to earthquakes, make sure your cellar is seismically retrofitted, your racks are secured properly and you keep a minimum storage height
• Protect your wine collection with the right insurance policy
• Build a home inventory list that includes your wine, and any other items that you would want to make sure are properly insured

As a responsible homeowner, you will have home insurance. Thus, you may be wondering if your wine collection is covered under the contents coverage included in your policy. This depends. If your collection is small and valued under $1,000, you may have enough coverage. However,  as any serious wine aficionado knows, many collections are worth vastly more. In this case, a standard homeowner insurance policy will not be enough to replace the value of your collection should it be lost due to an accident or fire. This can be for a range of reasons:

• Your overall policy limit doesn't account for the total value of your wine collection
• Your home insurance has an individual item limit less than the worth of your collection
• Your home insurance policy excludes coverage for collectibles or rare items
• Your policy does not cover certain risks, such as mechanical failure that causes your cellar's temperature control to fail—damaging the collection

Additionally, even if your home insurance does offer some coverage, it may not accurately reflect the value of your entire collection. For instance, it's common for policies to pay out on a depreciated value, not on current market value. Since most wines increase in value as they age, the collection's value would not be properly reflected in what you'd receive as a result of a claim.

There are two different types of insurance designed to protect your valuable wine collection. Blanket wine cellar insurance protects your collection as a whole. Typically, blanket coverage insures your whole collection as one amount and has a maximum payout per bottle. To make a claim, you usually don't need to complete an appraisal. A blanket wine insurance policy is worth it if your bottles are worth less than the maximum payout and if you actively drink or sell your bottles, and acquire new ones. 

Individual wine cellar insurance, also called itemized wine cellar insurance, protects each bottle individually. This option is a good idea if you have vintage wines that are of exceptionally high value and difficult to replace. Individual coverage also most accurately represents the individual value of each bottle, and is a good option if you treat your collection as an investment—as opposed to drinking the wine frequently, in which case you'd need to constantly update the policy as your collection's value is always changing. You do need an appraisal for proper valuation, and the payout will vary depending on the valuation of each individual bottle.

Many wine cellar insurance companies offer a combination of individual and blanket wine coverage. This is a happy medium where you can ensure the wines you consume more frequently with blanket coverage, whereas special, high-value bottles can be insured individually.

You can protect your wine collection by adding a floater to your home insurance policy. This is an extension on your home insurance to better cover your wine bottles, as your current home insurance limit may not be enough. The extent of coverage varies per provider, but this is a good option if your collection is still in its infancy, or you only have a few bottles you think are worth insuring. This add-on can either be an individual or blanket policy, or a combination of the two.

As many wine collectors know, the primary hazards that can ruin your bottles are heat, light and air. If the bottles are exposed to very high/low temperatures, frequently fluctuating temperatures, humidity or too much light, the product can be completely spoiled. Another concern is that the cork may be damaged, which would also spoil the wine. Thus, it's important to correctly store wine bottles—especially those that are high value. When stored correctly, wine can last hundreds of years—although you'll likely sell or consume your precious collection before then.

When it comes to perils that you can insure against to protect your collection, the following risks can damage your wine bottles:

• Accidental breakage
• Theft or disappearance
• Power outage affecting humidity or temperature
• Malfunctioning temperature or humidity control 
• Water damage

Usually, this type of coverage is not a part of a homeowner's insurance policy or a possible addition to your homeowner's insurance policy. However, you can always ask your Morison Insurance broker about what options are available to you. 

You may also want to ask the vineyard or wine club that you belong to if the products are insured during transport. Usually, the responsibility of transporting your wines falls to the supplier—but you may not be protected from all risks. For instance, if a bottle is damaged during transport it's likely the supplier will send a replacement if possible. However, if your shipment is stolen from your front step before you have a chance to pick it up then you may not be entitled to remuneration or replacement.

Certain wine clubs may also offer insurance as an additional cost, so it's best to ask about your options to know more and keep your valuable wine bottles safe during transport.