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What is the biggest mistake made by wine collectors? Not protecting their investment. A simple slip and fall could turn one of the most precious bottles into a puddle on the floor. When you consider some of the other threats to wine collections (theft, fire, power outage, flooding, etc.), it’s apparent that there is a lot at stake.

Most homeowners’ policies do not cover wine collections, and it’s common for wine collectors to overlook or underestimate the value of what they own. In most cases, you need a distinct policy or rider to protect a collection adequately. Coverage Options:

  • A “blanket” policy features one overall coverage limit and is the best choice if you intend to eventually drink what you have acquired. With this option, you have the flexibility to add and remove bottles without having to notify your insurance provider each time. You’d only have to report a change if the value of an individual bottle grew to exceed the limits on your policy.
  • A “scheduled” policy, in which each bottle or case is itemized or insured separately, is a better choice if you have bottles of the highest-priced vintages or if you intend to hold onto the items in your collection long term.


In addition to coverage solutions, here are other considerations needed:

  • Consider appraising – seek the guidance of third party professionals who are best equipped to assess a one-of-a-kind collection.
  • Store smartly – consider proper store conditions when building or renovating your cellar.
  • Keep track – utilize inventory software or third party vendors that provide cellar inventory solutions to know what you have, where it is located, and when it is the most opportune time to drink it.
  • Utilize qualified vendors – seek out qualified and experienced wine shippers, buyers, off-site storage, security, and more.


By securing the right wine insurance to protect your collection, you’ll be able to replace your bottles should they break, be burned, experience water damage, and more! The Team at Gulfshore Insurance works with  insurers who specialize in protecting these types of investments. We provide the necessary expertise when it comes to insuring valuable wine collections.

PURE Insurance, the policyholder-owned property and casualty reciprocal insurer designed for high net worth individuals and families, announced the launch of PURE Starling®. The offering provides coverage for individuals and families who suffer financial losses resulting from fraud and cyber fraud.

The threat of fraud and cybercrime is greater today than ever, and high net worth individuals are targets because their home networks are typically less secure than corporate networks and they have substantial balances on their financial accounts.  This new offering from PURE will provide clients with the peace of mind that they are covered should they suffer a loss due to fraud or cyber-attack.

As an optional endorsement to PURE’s Homeowners policy, PURE Starling® provides broad coverage for fraud and cybercrime, including coverage for financial loss resulting from online and offline fraud, services to help assess and respond to cyber extortion threats and coverage to remove malware and reinstall software after an attack. Coverage limits of $100,000 and $250,000 are available. And, recognizing that high net worth individuals may require higher coverage limits to protect their family’s significant assets, PURE will also make available a $1 million coverage limit for PURE members who take steps to reduce their risk by subscribing to a cyber monitoring service that actively monitors their home network and devices. Limits may be subject to underwriting requirements.

Highlights of PURE Starling include:

  • Coverage for Online and Offline Fraud: Members will be reimbursed for their financial loss related to fraud, whether the crime is committed online or offline. Examples include social engineering of an authorized account user, criminal deception, unauthorized transfers, forgery or alteration of checks, acceptance of counterfeit money and more.
  • Coverage for Cyber Extortion: In the event of a cyber extortion incident—a type of attack in which a cybercriminal demands money to prevent the damage or distribution of content or to restore access to the functionality of a device—this coverage will afford immediate access to crisis management advice from a subject matter expert to help best respond to the threat, and in the event a payment is made, reimburses the member for the amount of the payment.
  • Coverage for System Attacks: This policy will provide coverage for the cost of a professional to reinstall damaged software, remove malicious code, reconfigure the device or system and replace electronic data that has been lost or corrupted as the result of a cyber-attack.

This product will be available to PURE members with a target Florida launch date of December 2017.

“Call for the generator and kick into business continuity alert mode – a category 5 storm is expected to hit Naples on Thursday.” Word of a Hurricane spread quickly, but did not come from the National Hurricane Center or The Weather Channel. Rather, Gulfshore Insurance announced internally that “a three-day agency-wide disaster preparedness drill designed to simulate a major hurricane in our area” would be held May 24-26.

Life has taught us that practice makes perfect and that it probably is unreasonable to expect everything to be orderly, sane, and fully functioning during or after a disaster. That is why Gulfshore Insurance hosted a multi-day, department-wide, hurricane readiness drill to intensively prepare the agency to deal with the effects of a major storm. The exercise was in preparation for the start of the Atlantic Hurricane season, which began June 1st.

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As your trusted insurance advisors, we would like to remind you during Hurricane Season (June 1 – November 30) that certain requirements apply if you are receiving a premium credit on your Florida or coastal insurance policy for shutters or other opening protection.

Chubb and Citizens Property Insurance Corp. include an “opening protection stipulation” in their policy contract which states if your insurance premium has been reduced for hurricane protection devices that those devices must be closed and secured during a hurricane watch or warning issued by the National Weather Service’s Hurricane Center. Failure to comply with this requirement may result in a reduced loss payment if a claim is submitted for damages due to windstorm or hail during a Hurricane Watch or Warning.

Please feel free to contact us should you have any questions or concerns.

As private flood insurance options have increasingly become available in some states, consumers should make sure they understand the differences when choosing between a federal and private policy.

Background Today, most residential flood policies are sold through the National Flood Insurance Program (NFIP), administered by the Federal Emergency Management Agency. The program was created in 1968, when it was difficult for private companies to insure flood risk at rates homeowners could afford.

After disastrous storms like Hurricane Katrina in 2005 and Hurricane Sandy in 2012, the federal program went into debt. The government has been taking steps to stabilize the program and raise flood policy rates, notably with legislation in 2012 that reduced subsidies that had kept premiums on some properties unrealistically low. Further action by Congress in 2014 slowed the rate increases, but many policyholders are still seeing costs rise.

As a result, some insurers see a market for private flood policies. Private policies are a small portion of flood policies. Florida, which has the largest proportion of properties with federal flood insurance — about 1.8 million of the roughly 5.1 million policies nationally — acted in 2014 to encourage the sale of private policies. The state’s Office of Insurance Regulation estimates there are now 3,000 private flood policies.

What are the main differences between a Federal policy and a private policy?

  • The National Flood Insurance Program policies cover structures up to $250,000 and contents up to $100,000. They do not cover extra living costs, like hotels and restaurant for displaced homeowners. Private options may offer higher limits and include coverage for housing if you have to relocate temporarily.
  • Some mortgage lenders may be reluctant to accept private flood policies for federally backed home loans.
  • With national flood insurance, almost anyone can buy a policy if the community participates in the national program. Private companies, depending on the regulations where they operate, may do more extensive risk analysis on a property and may choose not to offer coverage.
  • Private companies that provide flood insurance are few and far between, and their premiums may not be considered affordable when compared with the federal flood coverage.

If I buy a private flood policy, can I switch back to a federal flood policy later?

  • Yes. But if your property had lower, “grandfathered” rates under federal flood coverage rules, you may lose that protection after changing to a private plan, resulting in higher premiums should you return.

Do private flood policies have a waiting period as federal policies do?

  • Waiting periods for private policies vary, but in some cases are much shorter than the 30 days typically required with federal policies.