Antiques in Your Home? Insure Them Properly
If you have valuable antiques in your home, you must ensure that your homeowner’s insurance offers the right level of coverage to protect them. Should they be stolen or damaged, you need to know that you will be covered for replacement or repair.
Most homeowner’s insurance products will offer coverage for personal property, but there will be limits as to the value of the goods insured under that property. Whether you are an avid collector of high-value antiquities or you just happen to own something precious, you need to make sure that it is fully covered.
If you have a large collection of antique art, furniture or jewelry you may even need a special rider or separate insurance cover. The cost of your coverage will vary depending on the type of antiques you own; how many you have and how you intend to use them.
If you have valuable antiques at home, here is our guide to getting the right insurance for them
Have them appraised
It is vital that you know the exact value of your antique items before you have them insured. Most insurance providers will only accept fully independent appraisals and may ask for a certificate of authenticity and value from The American Society of Appraisers, The Appraisers Association of America or the International Society of Appraisers.
Inventory and document all of your collection
If you have spent many years building a collection of exquisite pieces, now is the time to take a full inventory of them all. Using high-quality digital photographs, comprehensive written descriptions and any appraisal information, carefully document each of your antiques. Be sure to update your inventory and advise your insurance provider any time you acquire new pieces or sell on old ones.
Top tip: this doesn’t have to be just for collectors, even if you only have one of two antiques in your home, it is still worth making a detailed inventory.
Know what’s covered and what’s not
Your policy documents will include all the conditions of your insurance coverage. Before you commit to purchase, make sure you have established whether your insurer will pay to restore your antique or replace it with a modern reproduction. You should also be completely sure which perils are covered including fire, theft, accidental breakages, water damage or damage in transit.
Safeguard your antiques
Make sure that your home is well protected with an alarm system, and that your antiques are displayed or stored safely. You should ensure that you fully understand what your responsibilities are in the eyes of your insurance provider when it comes to suitable storage.
Review your policy every year
Because the values of antiques can go up and down, you should review your policy on an annual basis. This will ensure that should the worst happen, you will still be entitled to the maximum repair or replacement values.
Homeowner’s Insurance from The Sena Group
Whether you want to cover your collection of high-value antiques, or just keep your much-loved home and possessions safe, whatever their value – we can help. Speak with us today at 561-391-4661 to help us find the right homeowner’s insurance for you.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
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The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487
