Insurance for personal collections

Many people are collectors, whether they know it or not. Personal collections often include expensive belongings such as jewelry, furniture or other personal property. a person sitting on a table

If lost or damaged, personal collections can be expensive to repair or replace, and these costs may exceed the personal property coverage limits on your homeowners or renters policy. Getting an insurance policy for your personal collections can help limit recovery costs if something happens to your belongings.

What Are Some Personal Collections Coverage Options?

Depending on the personal collections you plan on insuring, your coverage options can vary significantly. However, some of the most common coverage options include the following:

· Scheduled or blanket coverage primarily covers damage to personal collections, as well as theft and disappearance. It can provide coverage for a collection of belongings or for individual items.

· With market value protection coverage, the insurer agrees to cover the full cost of a lost or damaged collection, even if the market price has gone up.

· Borrowed jewelry coverage provides coverage for a designated amount during which jewelry is borrowed.

· Borrowed fine art coverage is the same type of coverage as borrowed jewelry, but it applies to fine art.

· New purchase coverage is usually an addition to scheduled or blanket coverage. As long as the item you have acquired is similar to the items listed in your scheduled or blanket coverage policy, you will most likely be insured for that collection.

It is important to note that personal collections coverage varies, and policies tend to cater specifically to each collector. For more information about potential coverages, reach out to the agents at Clockwork Insurance Services.

What Are Some Examples of Collections That Might Be Covered?

Some items commonly covered by personal collections insurance include the following:

· Wedding rings

· Jewelry

· Fine art

· Furniture

· Silverware

· Musical instruments

· Cameras

· Wine

While these are common collections covered by a policy, there may be other options. Be sure to reach out to our agency to learn more.

Contact Us Today

If you live near Metairie, Louisiana, we can help you out. The agents at Clockwork Insurance Services want to help you learn more about your insurance options for personal collections

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