Home Insurance For Antiques 101
How To Keep Your Prized Antiques Protected
Antique collectors do everything they can to protect their prized possessions. Whether it’s polishing, sealing, dusting or repairing them, antique lovers keep their vintage collectables safe from damage or harm. Whether they’re heirlooms, travel souvenirs, or part of a collection built over time, they hold a special place in collectors’ homes and hearts.
But a lot of collectors fail to do the most important thing when it comes to protecting their antiques: getting them insured!
Finding the right kind of insurance ensures that you get the right amount of coverage for your antiques. This means that even if the worst happens, you can rest assured knowing your valuables stay protected.
Today, we’ll talk about your antiques home insurance, what it means, and what it covers. Keep reading to find out what kind of insurance can protect your most precious antiques!
How can I insure my antiques?
Most collections increase in value over time, including antique collections. Plus, even if your antiques by themselves aren’t worth much, the collection as a whole can be worth a lot. That’s why you need the proper home insurance antiques policy to make sure they’re covered for their full value.
If you’re unsure about the worth of your collection, it’s a good idea to have it appraised by an expert. Some collectors recommend getting two or more valuations for different appraisers. This way, you can get a fair estimate of your collection’s value.
Once you get it valued, you can assess whether adding them to your standard home contents policy will suffice. If not, you can ensure your collection has sufficient coverage by taking out a specialist collectables policy.
What is a specialist collectables policy?
A specialist collectables policy is specifically tailored to protect high-value collections from loss or damage. It can cover:
- Accidental or malicious damage
- Emergency home evacuation
- Legal expenses
- Temporary displacement (for shows or exhibits)
- Value depreciation
Talk to your provider to see what their policy can cover. You can also ask what add-ons they have for your specific needs.
What if I have a particularly high-value item?
Insurance providers have a “single-item limit”. This means that no matter the cost of your item, you can only claim up to a certain amount in case of loss or damage. The usual single-item limit among insurance companies is £1,500. This applies to both standard and specialist policies.
If you have an antique worth more than the single-item limit, you’ll have to specify them on your policy. This way, they’re covered for their full value. Providers will likely ask for proof of value, so make sure to have a receipt or a written valuation on hand.
How do I protect my antiques?
- Get a regular valuation. There are items that appreciate or depreciate in value throughout time. So make sure to get them appraised every once in a while. Update your policy or tell your insurer if the value changes.
- Protect your items. Keep your collectables in a locked safe. For antique furniture, see to it that you have a high-quality home security system. This could also help cut the costs of your insurance.