Do you have valuable items in your home or business? Fine art, jewelry, and collectibles may fall into this category, as can other high-value items. High-value items often need different insurance treatment than everyday home or business goods. It’s important to have coverage that reflects the value of these items in case of calamity or mishap. Here, we’ll discuss how collectibles insurance policies work and how they can be used to protect your most valuable items.


What Collectibles Insurance Policies Cover

Collectibles insurance policies target your high-value items specifically. Despite the name, these policies are not limited to collectible items. A collectibles insurance policy may cover:


  • Fine jewelry beyond the limits of your homeowners’ coverage,
  • Fine art, including paintings and sculptures, 
  • Collections, like stamps, coins, wine, memorabilia, and classic cars. 

To find the right coverage, a detailed inventory of what you own is needed. Note what items are worth and where you obtained them. Where possible, keep copies of receipts, certificates, and similar documentation. 


Why Should You Purchase Collectibles Insurance?

Collectibles insurance policies offer several benefits, including: 


  • Cost-effectiveness. Paying for one more insurance policy may not seem cost-effective in the short term. In the long term, however, the price of collectibles insurance is low compared to the protection the coverage provides.
  • Investment protection. Many collectors invest considerable time, energy, and money into cultivating their collections. When jewelry, fine art, and other items are gifts or inheritances, emotional energy is invested as well. A collectibles policy acknowledges the value of these investments and helps restore you after a loss. 
  • Peace of mind. One of the challenges of collecting valuable items is figuring out how to protect them. A collectibles insurance policy does some of this “heavy lifting” for you. The policy ensures that even if disaster strikes, you won’t be left with nothing. 


The cost of collectibles insurance can often be reduced by choosing a policy that dovetails with existing homeowners’ or property insurance. Talk to an insurance expert to learn more. 


Have high-value assets you wish to protect? Need to know more about the right type of insurance for your valuables?  Learn more from the insurance experts at Odell Studner.