Doesn’t my homeowners policy cover my collection?
Homeowners insurance is designed to protect your dwelling and its contents (furniture, carpeting, appliances, etc.), and may not contain any language specific to collectibles. In the event of a claim with your homeowners insurance, your collectibles could get lumped in with personal property (unless a “rider” is attached, specifically addressing collectibles coverage). Most homeowners policies are not as broad in coverage as the collectibles policy available through American Collectors Insurance. Additionally, most homeowner's deductibles are $500 or higher, further reducing the amount expected in a claim.
Do I need an appraisal to apply?
In most cases an appraisal is NOT required to apply. General appraisals are accepted from an authorized appraiser, receipt of purchase, and various collector price guides.
My spouse and I have two collections (collector figurines and model trains). Can both collections be written on the same policy?
Yes, a collectibles policy provides blanket coverage, and can accommodate many different types of qualifying collectibles on the same policy.
What types of collectibles will qualify for coverage?
American Collectors Insurance has a market for many different types of collectibles, including books & maps, coins & bullion, collectible dinnerware/stemware, collector quilts, comic books, guns, stamps, trading cards, wine, figurines, dolls, teddy bears, vintage toys, model cars, collector plates, ornaments, animation art, sports memorabilia, militaria, model railroads, carousel animals, and other lesser-known collectibles.
Are there any collections that American Collectors Insurance will not insure?
Coverage is not currently available for jewelry, furniture or fine art. Additional qualifications and underwriting may be applicable depending on the collection value, type and location. Coverage is not available outside the United States and collections may not be used for commercial or remunerative purposes.
Is flood damage covered under a collectibles policy?
Yes, the American Collectors Insurance collectibles policy covers perils typically not covered by homeowners insurance, such as flood, earthquake, and accidental breakage. Additionally, coverage is provided for mysterious disappearance for items that are worth $2,000+ and scheduled on the policy.
