At Blue Lion Insurance Advisors, LLC, we understand how valuable your art, jewelry, and collectibles are to you and other members of your family, and how much they may mean to your descendants. For these reasons, such items require special insurance that often goes well beyond the coverage of ordinary Homeowners Insurance policies. In some cases, you can simply add a floater to your existing policy to cover these valuables, but in many cases, especially where high-net-worth items are at stake, you may need a policy for each item or each collection.
Because our insurance advisors are not affiliated with a particular insurance company, we answer only to you and your personal needs. We have a well-deserved reputation for thoroughly researching Jewelry Insurance, Fine Art Insurance, and Collectible Insurance policies to find the ones that best suit our clients’ needs so we can provide you with the most comprehensive, cost-effective options.
No doubt you have spent years accumulating each collectible, or each prized piece of art, or jewelry item in your collection. Why not call us now at (732) 649-1600 or contact us online to keep your precious collectibles protected against:
- Damage by water or fire
- Damage during a break-in
- Accidental damage
Fine Jewelry Insurance
Much may depend on whether your jewelry is a new engagement ring or an antique cameo your grandmother gave you. While the former will, most likely, depreciate as it goes out of style, the latter may increase in value. Since jewelry could be insured for its actual cash value (ACV) or its replacement cost, our insurance advisors will assist you in deciding which policy will work best in your case.
Fine Art Insurance
Two types of Fine Art Insurance exist: title and property. The former could cover you if the painting or sculpture you bought was, unbeknownst to you, stolen — so that you never really owned it at all. Some insurance companies specialize in Title Insurance, covering high-end artwork, typically older pieces that have passed through many owners or have an unknown history.
On the other hand, Property Fine Art Insurance is akin to Homeowner’s Insurance in that it insures the piece against theft or damage, covering either restoration or replacement.
Collecting items that have personal meaning to you and are worth a great deal of money on their own merits is an admirable endeavor, gratifying both creative impulses and your sense of being part of history. By attaining one unique collectible or amassing a collection — of stamps, celebrity memorabilia, paintings, coins, first editions, or some other valuables, you are creating a legacy that ties you to past eras and future generations.
Whether you received your first collectible as a gift or inheritance, found it in an antique store or thrift shop, or purchased it on eBay, each item has its own story. Contact Blue Lion Insurance Advisors, LLC to find out precisely what type of Collectible Insurance is right for you.
Steps to Take in Insuring Your Jewelry, Artwork, and Collectibles
- Check your existing Homeowners Insurance Policy which could typically provide only minimal coverage ($500 to $2,000) for items like these.
- Document Your Valuable Pieces: When we locate a suitable insurance policy, the insurer will want proof of ownership. Therefore, you should make a list of your collection, including (if possible) the date you acquired each item and its pertinent descriptive details (e.g. material, color, date of crafting, or manufacturer).
- Have Each Item or the Entire Collection Appraised: While you may have receipts from the time of purchase, you may not, either because receipts have been lost, are illegible, or will not be useful because you purchased the items at far below their actual value. This is why you should have your collectibles evaluated by a well-credentialed appraiser.
- Photograph Each Item: There is nothing like a photograph to validate the existence of your valuable. This documentation is also necessary for identification if it should be lost or stolen.
Contact Blue Lion Insurance Advisors, LLC Today
If this article has made you realize how much you care about preserving your collectibles for both financial and sentimental reasons, don’t waste time worrying. Get in touch with our experienced insurance advisors now and experience the reassurance that comes with knowing your valuables are protected by insurance that is Blue Lion Strong™. Contact one of our insurance advisors today online or at (732) 649-1600.