Wine is increasingly viewed as an investment asset. The global wine market was valued at $515.1 billion in 2024 and is projected to reach $812.78 billion by 2030. Auction prices regularly exceed $1 million per bottle. Collections valued above $50,000 should move beyond homeowners coverage.
Unique Risks for Wine & Spirits Collectors
- Temperature and humidity: Power outages or equipment failure can spoil entire cellars.
- Transit: Bottles are fragile and can break or spoil in transit. Coverage should include shipments to auctions, tastings and secondary storage.
- Market fluctuations: Fine wine values can surge with demand from emerging markets; insurance should keep pace.
“A cellar is a living, breathing archive of moments. Our team understands the nuances of fine wine and whiskey because we’re enthusiasts too, and we’ve designed coverage that keeps your collection safe from cork to cask.” , Jeremy Caparas, Head of Customer Success
WAX Coverage Highlights
- All‑risk policies: Coverage for breakage, theft, spoilage, equipment breakdown, natural disasters and climate‑control failures.
- Blanket or scheduled options: Blanket coverage suits large, diverse cellars; scheduled coverage fits collections with a few high‑value bottles.
- Ancillary coverage: Insure cellars, shelving, racks, refrigeration units and accessories.
- Expert services: WAX connects clients with professional cellar designers and inventory management tools.
With WAX, your liquid assets are preserved through every vintage.
Real‑World Case Study
During a summer heatwave, a collector’s cellar lost power for 24 hours. Temperature spikes ruined dozens of irreplaceable bottles. WAX reimbursed the collector for their full market value. Another enthusiast shipping a case of rare whiskey uninsured had a crate dropped en route to auction; with no specialized coverage, they bore the entire loss themselves.
Frequently Asked Questions
Q: Does WAX cover whiskey and spirits? A: Yes. WAX insures rare whiskey and spirits collections as part of our wine and spirits program.
Q: Does WAX insure against changes in temperature? A: Yes. WAX covers loss or damage caused by temperature fluctuation, including spoilage resulting from a climate-control failure.
Q: Can I insure a cellar spread across multiple locations? A: Yes. WAX can consolidate multiple storage sites under one policy.
Ready to protect your collection?
Collectors can request a quote in minutes through WAX's digital platform, and brokers can contact us to design coverage for their clients.
