Many people love collecting. Some collections start out small and grow over time, while others are inherited. Regardless of how your collection began, it’s possible that it has become valuable over time. Most homeowners’ policies limit or exclude certain items of value.
Take steps to make sure your collection is insured properly if you should have a loss.
The first step is a review of your homeowners’ policy. We’ll see what coverage you currently have and what the limitations are. We may be able to add a rider to your policy that specifically insures your collection.
Next, you will want to make sure your collection is well documented with descriptions, photos, and any other documentation pertaining to value, such as receipts or prior appraisals. If you think your collection is worth more than a few thousand dollars, or if it’s a specialized area, getting an appraisal will help determine the value so we know how much to insure it for.
Once the value is determined, we may be able to add a rider to your policy, which can be relatively inexpensive. If insuring through your homeowner’s policy isn’t an option or doesn’t allow for enough coverage, we have multiple other options available to make sure your collection is properly insured.
Give us a call. We’re happy to give you a quote for insuring your valuables.