Gurkha Cigars Insures 9,000-Square-Foot Humidor Valued Over $5M
Found in an inconspicuous warehouse in Broward County, Florida, Gurkha Cigars are known to be one of the world's best cigar brands. With tons of limited releases, the company prides itself on providing rare tobacco products presented in beautiful packaging—not to mention they're responsible for the world's most expensive cigar, His Majesty's Reserve (costing nearly $20,000 for a box of 20). With how esteemed their collection is, it's no surprise that Gurkha Cigars has a world-class humidor to store their reserve in. What is unusual though is that this particular humidor is actually insured by VRA Insurance.
"Humidors typically aren't insured," says Louis D. Spagnuolo, CEO and risk management expert with VRA Insurance, "but then again, most humidors aren't 9,000 square feet with a value in excess of $5 million. There are many aspects to consider when underwriting a perishable product such as cigars. We look at the owner's experience, the storage and handling and the extent of the collection. Then we look at the risk involved for possible harm to the product and create a replacement value for both the cigars and all other contents."
The humidor is temperature-controlled at a steady 64 degrees with a 74 percent humidity, with handling delegated to only a small group of people. Of course, with a product so expensive, back-up precautions were put in place, like generators and humidifiers that can create an acceptable environment in case of a power failure.
Once you buy a box, how you store them is up to you, but we suggest getting something to keep them safe in considering the special treatment those cigars received by Gurkha.
