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Many people find joy and satisfaction in collecting a variety of items. Collecting items of value can also prove to be a good investment. Certain collectors have scientific-sounding titles. A coin collector, for example, is a Numismatist. A collector of postcards is a Deltiologist. Someone who collects stamps is a Philatelist. There’s even a name for those who collect Teddy Bears, an Arctophilist. Odds are if you collect something, you are some form of “ist”. So what is it that you collect?
If your collecting goes beyond an inexpensive hobby and involves keeping items in your home of exceptional value, you may not have adequate homeowner’s insurance. Although homeowner’s insurance will have coverage for contents, there will be limits to that coverage. If you have an extensive coin or postage stamp collection, valuable antiques or fine art, your coverage may come up short. Even extensive collections of records, sports memorabilia or even comic books could exceed your coverage. Certainly, valuable collections of gold and silver jewelry may exceed basic policy limits. So what’s a Cartophile or Machirologist to do?
The answer usually starts with an appraisal of the collection to find out its value. This appraisal should include a complete inventory of the collection. Depending on the collection, it can be valuable to get images of the items and individual values per item. Once the collection has been appraised its value should be compared to that limits of your homeowner’s insurance policy. If your coverage comes up short, it is time to contact one of our independent insurance agents to increase your coverage.
Our insurance agents are qualified to review the policies of any company and can make appropriate recommendations. If you like, we can search a variety of insurance companies who may specialize in loss prevention coverage for your specific type of collection. We can help improve your coverage at the best possible price.
If you would like to know more, contact us. Don’t risk years of collecting and your valuable collection to a loss by fire, theft, or natural disaster. Whether you are a Plangonologists, Antiquariun or Rabdophilist, we look forward to assisting you protecting the value of your collection.