Does anyone have their collection insured? Be it through homeowners or some other means of insurance? I was considering doing this, but don’t know how to go about it.
I don’t even have my 65 inch Samsung smart TV insured. I’ve actually been meaning to get the stuff in my home insured for a while now. Take pictures of what I have, all that stuff, just in case it can be replaced or compensated for if there’s ever a theft or fire.
Most general homeowners/renters insurance policies have pretty low limits on what they pay for first party damage of owned collectibles due to the unique nature of that type of property. In order to get high end collectibles insured most people have to go to specialty insurers for a specific separate policy or purchase some kind of additional endorsement to add to their underlying homeowners/renters policy.
For instance a lot of policies have language related to sports cards/memorabilia that reads something along the lines of: the following language applies when this endorsement is attached to your policy: $200 per card and $1,000 in the aggregate on sports cards (meaning $200 per card, not to exceed $1,000 total for a loss involving damage to said sports cards/memorabilia)