Q. Am I covered by my insurance policy if a $500 bottle of wine is stolen from my cellar?
A. It depends entirely on the type of insurance you have taken out. A simple homeowner's policy usually covers losses from theft and fire, less the predetermined deductible you stipulated when you took out the policy. So if you have a $500 to $1,000 deductible (which is quite common), you may be covered for the loss of the bottle, yet not be reimbursed. More sophisticated wine policies provide blanket or stand-alone coverage for bottles worth more than $10,000, which may include a replacement-cost clause that can actually exceed the bottle's insured value. What's more, they will cover a broader range of accidents including breakage and equipment malfunction. Some insurers, like Fireman's Fund, link to wine databases in order to keep the value of your collection current.
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