Collectibles Insurance
Will homeowners insurance cover my valuable collectors items I own?
Homeowners insurance is designed to cover normal household items owned in the event of a loss. When it comes to very high value items owned like jewelry, stamp collections, fine art, valuable musical instruments, etc., your homeowners policy will most likely have very limited coverage. In other words, the full value of your collectible items most likely won’t be covered.
Two simple collectibles insurance options.
Schedule Your Collectible Items
The first option is to “Schedule” your valuable collectors item on your homeowners policy. Sometimes this is also called adding on a “Personal Articles Floater” to your home insurance policy. By scheduling a specific item on your homeowners insurance like a vintage camera, antique gun or expensive piece of art, you can get higher limits of insurance for a minimal premium.
However, you will want to check the limitations on your homeowners insurance policy. For example, your homeowners insurance policy may only provide you with actual cash value coverage versus the full collectible value.
Purchase a Collectibles Insurance Policy
Since most homeowners policies have limitations on collectibles, the best option is to purchase a collectibles insurance policy. You will still have some exclusions on what is covered. However you will get a much more comprehensive insurance policy to protect your valuable items. You can customize your collectors insurance policy to cover your valuable items. For example a collectibles insurance policy can include coverages like full market value, inflation coverage, accidental breakage, theft, travel, exhibitions and much more.
There is a much wider range of valuable collector items that qualify for this type of insurance coverage. Some examples are: antiques, vintage cameras, coin collections, comic books, fine art, guns, sports memorabilia, books & manuscripts, musical instruments and much more.
Your collectibles are priceless. Contact our office today to get a quote on a collectibles insurance policy! In addition to individual policies, we can help dealers protect their valuable inventory.