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Collectibles Insurance: Are My Valuables Covered at Home?

Collectibles insurance provides financial protection for high-value items. Coverage can either come in the form of a rider, which is offered by most major carriers and added to your home insurance policy, or through a stand-alone policy through an insurance carrier that specializes in collectibles. If you intend to insure your valuables, be sure to make an inventory of your belongings. Next, get an appraisal for the items being insured. Once the appraisal is done, shop for insurance. Be sure to regularly reappraise your belongings as your rates are largely based on the value of the insured items.

If you have valuables that need extra protection, keep reading to see what collectibles insurance can do for you and how to get it.

What Is Collectibles Insurance?

Collectibles insurance provides financial protection for your collectible items in case of a covered peril such as theft, accidental breakage, flooding, fires and other natural disasters. Coverage can come in the form of a separate stand-alone collectibles policy or through an additional schedule or rider on your current homeowners insurance plan.

Look for an insurance company that will provide you with the best protection.

Collectible Insurance Types

Scheduled Property Coverage (Rider) - This is optional coverage you can add to an existing homeowners policy that provides more comprehensive coverage than a basic homeowners plan. Items that could be covered include:

  • Antiques
  • Art
  • Coin collections
  • Firearms
  • Furs
  • Jewelry
  • Musical instruments
  • Stamp collections

In order to get a rider for your collectibles, you will most likely need to provide your carrier with an appraised value of the item or a recent receipt. Benefits of getting a rider include:

  • Broader protection - A rider will give you coverage for events your homeowners insurance wouldn’t typically handle. For example, losing your wedding ring down a sink drain.
  • No deductible - It is possible to get a rider with either a low deductible or no deductible.

Be sure to get appraisals done on your insured belongings as the value can rise or fall over time which could cause your rates to change.

Stand-Alone Collectibles Insurance - This is a separate insurance policy you would buy from a carrier that specializes in collectibles. Types of items covered may include:

  • Advertising Collectibles
  • Antique Radios/Phonographs
  • Antique Tools
  • ​Art (Comics, Animation, Lithographs, Prints)
  • Teddy Bears/Steiff Collections
  • Books & Manuscripts
  • Club/Organization Memorabilia
  • Coin Operated Devices
  • Coins (except Gold & Platinum)
  • Comics
  • Dolls
  • Entertainment Memorabilia
  • Fine Art
  • Furniture
  • Glass/Pottery
  • Guns/Knives/Other Arms & Accessories
  • Hunting/Fishing
  • Limited Edition Items
  • Militaria
  • Movie Props
  • Musical Instruments
  • Native American items, including Arrowheads
  • Paper/Ephemera
  • Petroliana
  • Political Memorabilia
  • Records & CDs
  • Sports Cards & Memorabilia
  • Stamps & Philatelic Items*
  • Toys/Action Figures
  • Trains, including Layouts
  • Video Games
  • Vintage Clothing
  • Vintage Sewing & Textiles
  • Western Americana
  • Writing Instruments
  • Zippo Lighters

*List of covered belongings comes from Collectibles Insurance Services.

Collectibles insurance coverage can come in the form of a separate stand-alone policy or through an additional schedule or rider on a homeowners insurance plan.

A separate collectibles policy can also help protect your belongings if they are away from home. Coverage may include:

  • Transit coverage - Helps provide protection for items that are traveling, up to policy limits.
  • Show or display coverage - Collectibles that are put on display are protected while being shown and while they travel to and from the event.
  • Storage Facilities - Items that are stored at public, off-site facilities will be covered. An additional premium may apply.
Collectibles Insurance - Protect Your Home and Possessions

How To Insure a Collection at Home

There are several things you’ll have to do in order to cover your collectibles.

Create an Inventory

The first thing you'll want to do is create an inventory of all the belongings you wish to insure. Make sure you find any documentation that may help establish the value of your property. This could be receipts or something known as provenance, a document that tells the history of the item in question. Information can include the item's origin, historical value or previous owner or owners. Below is a checklist you can use when creating your inventory.

  • Gather as much detail as possible for each item you wish to insure
  • Take pictures of the items you want to insure
  • Gather any receipts that can help establish value
  • Keep the documentation, including any receipts and photos, in a safe place (personal safe or hard drive)

Get Your Items Appraised

If you don’t have a recent purchase receipt, you will need to have your collectibles appraised before getting them insured because your rates will be based in large part on the value of your collection. Their knowledge will help you get an accurate value and therefore enable you to get the right amount of insurance to protect your valuables. And if you ever seek to sell your items, you can use the appraised value to help set a price point.

How To Find an Appraiser

Find appraisers that belong to The Appraisers Association of America, the American Society of Appraisers or the International Society of Appraisers. Each one of these groups holds their members to high standards and ethics, ensuring you get someone who will not cheat you during the appraisal process.

Make sure you find any documentation that may help establish the value of your property.

Shop for Insurance

Look for an insurance company that will provide you with the best protection. Talk to your current insurance company about the possibility of buying separate riders for your collectibles and adding them to your homeowners policy, to provide higher limits and broader protection.

Another option is to find a carrier that specializes in insuring collector items. Buying a standalone policy is generally cheaper than adding a rider on your homeowners policy. You should also understand the difference between agreed value and stated value when insuring your valuables. Below is a short breakdown explaining the two.

  • Agreed value - The value of the insured item is agreed upon by you and your carrier.
  • Stated value - The value of the item is determined by you. However, your provider may not pay for the full amount because the payout will be determined by the market value, at the time of loss.

Reappraise Your Collection

The value of your collection will change over time which means you should regularly appraise your belongings. Changes in the value can cause your insurance to adjust, either higher or lower. Talk to your insurance agent about how your plan handles inflation. And be sure you store your items in a safe place as this will help maintain the value of your collectibles.

How Much Does Collectible Insurance Cost?

The cost for collectible insurance can vary widely depending on the company you're insured through and the value of the item being covered. You will usually have to pay 1% - 2% of the collectible's value in order to get insurance. It's also possible for there to be no deductible for a plan depending on the insurer.

Are Collectibles Covered by Homeowners Insurance?

Depending on your policy, collectibles may be covered by homeowners insurance but most commonly homeowners insurance does not cover collectibles or offers minimal limits with fewer named perils. This is why having a separate policy or rider for your collectibles is a good idea. Keep in mind that pricing will vary from one insurer to another as well as the value of the object being insured. Most policies clearly state what is and is not covered. If in doubt it is best to ask your agent.

Collectibles Insurance - Protect Your Home and Possessions

Which Companies Cover Collectibles?

There are many insurance companies that provide coverage for your collectibles either through a separate policy or through a rider on your existing plan. These companies include:

Have your collectibles appraised before getting them insured.

Collectible Insurance FAQs

Is artwork covered by homeowners insurance?

Artwork is sometimes treated like any other personal property with the same deductibles and limits. Many carriers however, impose separate lower limits on items like furs, jewelry and artwork, in the range of $2000-$3000.

Do I need collectibles insurance?

You should get collectibles insurance if you have items that you value and want financial protection for. This could be:

  • Antiques
  • Art
  • Coin collections
  • Firearms
  • Furs
  • Jewelry
  • Musical instruments
  • Stamp collections

Should I create a home inventory if I have a collectible collection?

You must absolutely create a home inventory if you have a collectible collection. You’ll especially need this if you plan on buying a rider or separate policy  for your collectibles.

Key Takeaways

  • Collectibles insurance offers special coverage for high-value items when your homeowners policy is insufficient to do so.
  • You can get collectibles insurance either as a separate policy or as a rider through an existing home insurance policy.
  • The cost of collectibles insurance varies depending on your carrier and the value of the item being covered.

Make sure your home insurance gives you the best coverage for your collectibles. If not, add a rider. For the lowest prices, enter your zip code below or call 855.214.2291 to receive free homeowners insurance quotes from agents in your area.

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