Insure Your Valuables

“Financial crisis is the moment of truth for real collectors and true artists.” — Victor Pinchuk.

It’s normal to want to avoid thinking about disasters, but preparation is critical for such situations. Imagine a dazzling heirloom, a masterpiece of fine art, or a rare collectible vanishing in an instant due to a fire or flood. Without the proper planning the financial hit (on top of an already emotional one) can be damning. Plan ahead and get your stuff insured.

Everyone is in different stages of life. It is still important to understand that most standard homeowners or renter policies cap coverage for valuables at around $1,000 – $2,500 total¹. That isn’t very much. That’s why securing supplemental valuables or floater insurance is essential. Especially if you consider the average loss per burglary exceeds $2,000². Beyond the numbers, supplemental insurance brings peace of mind. Whether it’s an engagement ring, a rare painting, or a vintage watch collection, floater policies let you list each item at full insured value so you’ll be made whole, not shortchanged³.

Take the time to reach out to your insurance provider. What do they need from you to cover your valuables? Go through and catalog your high value items with pictures, receipts, and/or certificates. Provide this proof to the coverage party. Why settle for “good enough” when you can have comprehensive, custom-fit coverage? By tracking appraisals, keeping inventories, and reviewing policies annually, you ensure your treasures shine under any circumstance.

Action: Catalog your high value items and get supplemental coverage.

Further Reading:

1. Beyond Standard Coverage: Exploring the Need for Valuable Personal Property Insurance
2. Get the Facts About Insuring Your Valuables
3. Understanding The Benefits Of Personal Articles Floater Insurance For Your Valuables