Homeowner’s insurance is a smart idea if you want to protect the possessions in your home from damage and theft. However, homeowner’s insurance policies tend to be limited because they are meant to cover items such as furniture, clothing, and kitchen appliances. This means that if anything happens to your home and you lose your valuable collectibles, such as art work, wine, furs, or jewelry, you might not have enough coverage for these collectibles. If you have valuable collectibles in your home, then you should strongly consider purchasing collectibles insurance.
Collectibles insurance can cover a wide variety of valuable items, such as rare books, baseball cards, train and action figures just to name a few. Traditional homeowners insurance covers items damaged by fire, lighting and wind. A collectibles insurance policy will take into account certain risks collectibles have, such as accidental breakage. No deductible is necessary as well, although you can choose to have one if you want to pay a lesser premium.
For more information about collectibles insurance, contact CCW Insurance by calling 732-289-2800
Before purchasing collectibles insurance, you need to determine the value of your collectibles. The value of your collectibles are driven by supply and demand, which means items that were once worth a lot may not be worth as much, and vice-versa. If you are unsure of the value of your items, you may consider hiring an appraiser.
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