There are many people who enjoy collecting antiques — whether it’s furniture, art, coins, collector cars, dolls, figurines or fine wine. Having something happen to your treasured possessions may be hard to imagine. However, if it happens, there is collectibles and antiques insurance that can cover your hard-to-replace valuables in your household.
If you question whether or not insuring your antiques is necessary, you might want to consider some of the following scenarios that could happen. For instance:
- Your shelf that your figurine collection is on collapses
- You have a heat wave that damages your collection of wine
- Your antique furniture is damaged by a broken water pipe
- You home is burglarized and you lose your fine art collection
- Your autographed sports memorabilia is destroyed in a home fire
These scenarios are only some examples of things that can happen to your valuable possessions. And since these possessions either have sentimental value or high dollar value, ensuring they are protected with insurance can offer you peace of mind.
Your collection can be reduced to nothing more than ashes after a devastating fire. You can avoid this risk by properly insuring it. There are a number of options available to you for ensuring your collectibles and antiques are insured properly including:
- Collectible and antique coverage through your homeowner’s insurance
- Collectible and antique rider coverage through a homeowner’s insurance
- Separate coverage through your homeowner’s insurance provider
- Separate coverage through a specialty insurance company
Keep in mind that your homeowner’s insurance covers your personal property, however, there could be limits when it comes to insuring your collectibles. You may need to get collectibles insurance to ensure your antique art, furniture or jewelry are covered.
Collectibles insurance works the same as a rider through your homeowner’s insurance offering that extra coverage for your art, jewelry and other valuables. However, the special risks of collectibles are also taken into account. For instance, if you have a collection of porcelain figurines sitting up on a bookshelf and it collapses, chances are those figurines will break and shatter all over your floor.
Your coverage through your homeowner’s insurance will cover perils like wind, fire and lightening, but won’t cover a bookshelf crashing. This is where your collectibles insurance would come in. This type of insurance covers a broader range of mishaps and dangers and often without the huge deductible.
You can transfer your risk of damaged or lost collectibles to your insurance company by buying separate collectibles insurance. In the event of an accidental breakage, theft, vandalism, fire or other loss, you will receive compensation from your independent insurance provider.
Contact us here at BOLT Insurance Agency to insure your antiques.
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