six aged and cracked leather-bound antique books, JAISIN Insurance Solutions

How To Protect Your Collectibles

It doesn’t matter if you collect fine art worth millions or vintage comic books worth a few thousand, you need to be sure your collection is protected. Read our guide on insuring and protecting your special collections; you’ll learn what may already be covered under your existing insurance policies and what you need collectible insurance to protect.

What is collectible insurance?

Collectible insurance protects your collection from total loss, including damage from a natural disaster, like a fire or flood, or theft. It’s important to have coverage for your collection before there’s an issue, especially for fine art that may require costly and specialized restoration.

Is art collector’s insurance the same as collectible insurance?

Some collectible insurance policies do cover fine art as well as non-art collections. However, depending on the types of art you have in your collection and its value, you may want to opt for a specialized fine art policy. Most policies will require your collection be appraised before it is insured.

How much does collectible insurance cost?

On average, collectible coverage will cost 1-2% of the value of what you are insuring.

For example, if you want to insure an antique coin collection worth $250,000, you can expect to pay between $2,500 to $5,000 a year in collectible insurance.

What does a collectible policy cover?

Collectible insurance covers damage and loss to your collection. Collections that are eligible to be covered under collectible coverage include:

  • Comic books
  • Stamps
  • Wine
  • Antique or rare automobiles
  • Vintage motorcycles
  • Coins
  • Toys
  • Musical instruments
  • Sports memorabilia
  • Guns
  • Fine art
  • Antique and rare books

Will my homeowners policy cover my collectibles?

Smaller or less valuable collections are usually covered under your home insurance policy. However, if the value is significantly higher than your coverage limits, you will need to have separate policies. Without proper coverage, you could lose your collection and a significant amount of money.

Do you have to have insurance on fine art?

Art collectors insurance isn’t required for your collection, but without it you could leave yourself exposed to significant expense. Art insurance is used to insure the cost of replacing a piece if it is severely damaged or stolen.

Summary

Your collection is an investment of not just money, but also time, passion, and dedication. So why would you take chances by leaving your collectibles underinsured or even no coverage at all? This is why you need an insurance advisor who understands the world of collection protection.

The advisors at JAISIN Insurance Solutions have years of experience insuring valuable art and collectibles. They will work with you to review what is covered under your existing policies and search the market for the best coverage for your needs at the best price for you.

If you love your collections and want to be sure they will last a lifetime, then you need collectible insurance coverage. Click or call JAISIN Insurance Solutions today to speak with one of our art and collectible insurance advisors, and ask for a quote.

Jason Bishara
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