If it’s worth collecting, it’s worth protecting. Collecting often begins as a labor of love, but over time it can become a valuable investment. Like many collectors, you might rely on homeowners insurance to cover loss or damage to your collectibles. But does your homeowners policy fully protect your investment?
If you own an amazing collection then you need specialty insurance to protect your investment. Accidents happen and are sometimes unavoidable. In most cases, homeowners insurance is designed to cover personal property and is not nearly enough to protect your collection. Homeowners insurance may:
- Limit contents coverage to a percent of the total value of your home (50 - 70%)
- Limit the amount they’ll pay for theft of valuable items like silver, crystal, guns, stamps, and paper documents
- Not cover losses due to flood, hurricane and earthquake
- Be based on actual cash value rather than the collectible value of the item(s)
- Require you to schedule all items
Collectibles insurance is broader and more comprehensive than homeowners insurance, providing for most causes of loss unless specifically excluded. No appraisals are necessary. You estimate the value of your collection and determine the amount of insurance. Although an inventory is not always required at the time of application to purchase insurance, we strongly recommend you maintain an inventory to streamline, provide proof, and expedite claims in the event of a loss. Covered causes of loss include but are not limited to: mail loss, theft, fire, flooding, natural disasters and breakage. Additionally, a collectibles policy typically costs less than scheduling items on your homeowners insurance.
Following is a partial list of qualifying collectibles. If your collection doesn’t appear on this list, please call us to speak with a product specialist.
- Advertising Collectibles
- Antique Furniture (dealers up to $10,000)
- Antique Radios/Phonographs
- Antique Tools
- Art (comic/animation/prints/lithographs)
- Coin Operated Devices
- Coins (dealers up to $10,000)
- Fine Arts (dealers up to $10,000)
- Household Collectibles
- Limited Edition Items
- Musical Instruments (except electric)
- Native American
- Organizational Memorabilia
- Outdoor Collectibles
- Political Memorabilia
- Vintage Clothing
- Weapons including guns, knives, swords and their accessories
- Western Americana
- Writing Instruments
A collectibles policy can ensure that your treasured collection will be covered for the most common types of damage. Don't let your collectibles go unprotected for another day - apply today! To get a free quote, either complete our online insurance quote form or call us at 800-922-8381.