805-238-1818

Home Insurance and your collections!

Are you a collector? Would American Pickers like to come to your place? Well most of us have a collection of something. Mine is stamps started by my grandfather when I was 8. Did you know that homeowners insurance may not be the best way to insure your collectibles. A collectibles policy can remove the deductible, cover your collection for flood, earthquake,accidental breakage and may not require an appraisal. This is better coverage than a homeowners policy usually offers. You may ask what are collectibles in the insurance companies eyes. From what I have read it is the same as we are thinking. Here is a partial list; books and maps,coins and bullion, collector quilts, comic books ( wish I still had my old ones ), guns, stamps, trading card, and wine. You might figure those to be standard but what about these. Action figures,Advertising memorabilia, animation art,collector plates,die cast toys,dolls, figurines, jukeboxes, military ( uniforms and such ) model trains, Christmas ornaments, pottery, sports memorabilia, and Teddy Bears. With this list you can see the offering is quite diverse. The other second valuable thing about scheduling your collectibles is it takes them out of the personal property schedule on the home owners policy. Depending on the amount of the collection it can increase a payout for a total loss. One example was a client who had a very valuable painting. They asked if the painting was covered under the homeowners policy and that contract had no limit on artworks so the answer was yes. The rest of the answer was they would pay for the painting but that reduced the amount available for the rest of the contents and in this case would most likely left them under insured. So if your collections are your pride and joy and you want them insured. Give us a call at Ted Hamm Insurance 805-238-1818 and we will get an estimate for you. Happy collecting

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