Having a collection of vintage clothing, art pieces, sports memorabilia, or other valuable trinkets is an interesting hobby. Your collections should be protected and insured if you are fascinated with rare coins, stamps, jewelry, or comic books. But how do you obtain collectible insurance? Does homeowners insurance cover collectibles?
At Saferoad Insurance, we want to ensure you know the appropriate steps to keep your collectibles insured. Below is how to tell if your homeowners insurance covers your valuables.
What Does Standard Homeowners Insurance Cover?
Homeowners insurance protects you from the loss of personal property. So yes, homeowners insurance does cover your collectibles. However, some insurance companies exclude or limit the coverage for fine art pieces and other valuable items. You may have to seek separate collectibles insurance if you have a high-ticketed collection, like vintage cars, fine wines, horses, etc.
How Can I Ensure My Valuables Are Covered?
Some insurance companies will limit their policy coverage of non-household items or deny coverage for non-household items. So it’s always best to double-check with your agent to ensure that your collection is within those limits or if you need to inquire about an additional coverage add-on.
Get an Appraisal
If you think your collection is worth more than $3,000 or need assistance estimating the value of your collectibles, consider getting a formal appraisal. Getting an appraisal from an expert will help you estimate how much coverage you need. It will also help as a form of supporting documents you when need to file a claim.
Document Your Collection
When buying insurance, you will be asked to document what you own and its worth in case you file an insurance claim. Therefore, it’s important that you conduct an accurate list with photos and descriptions of each item. You should also keep your receipts or other documents from new collectible items.
Other Ways To Protect Your Collectibles
Regardless of whether you have some form of security over your house, adding security to your valuables would be good. When you have a collection of valuable items, it’s important to keep them in pristine condition so they can appreciate value. From designer items to fine pieces of art to sports memorabilia, you can protect your items by doing the following:
- Use protective cases
- Install a security system in the area where your valuables are kept
- Use a fire safe
It would also help if you didn’t broadcast your valuable items online or boast in public. People have often been caught in unfortunate situations due to sharing details of their extensive collection. Remember never to share your address on social media or public forums.
Saferoad Insurance Services wants all your collectibles to be safe and sound. We are an affordable California homeowner insurance provider that strives to provide our clients with quality service and top rates. We also offer to bundle for auto, business, and recreational vehicles. For more information, don’t hesitate to contact us! We’re always looking for opportunities to go above and beyond for our clients.