With the rise of e-commerce sites like eBay, it has become easy to find and purchase collectibles.Again, you may inherit valuable vintage or antique items from your parents or grandparents.These items are usually expensive and irreplaceable, hence the need to protect them against theft, damage, or loss.

Sadly, common insurance policies like homeowners or renter’s insurance limit or exclude coverage for collectibles.That may leave your artwork and other collectibles unprotected, creating the need to purchase additional coverage to protect your belongings.That’s where collectible insurance comes in to help protect your expensive artwork and collectibles and offer peace of mind.

What is Collectibles Insurance? Collectibles insurance is a special coverage designed to offer comprehensive protection to expensive artworks and valuable collectibles.It protects your belongings against unwelcome events like theft, damage, or loss.If an insured event occurs, your insurance carrier awards the agreed-value coverage.

What Items Does Collectible Insurance Cover? Collectible insurance covers a variety of valuables, including:   Benefits of Collectible Insurance Insuring your collectibles offers several benefits, including: Does Homeowners Insurance Cover Collectibles? Standard homeowners policies may offer coverage for valuable items, but only to specific limits.Mostly, the maximum claim amount for valuable items under homeowners insurance is usually below $2,000 per item.Your valuable collection might possibly exceed that amount.

Again, some homeowner’s policies tend to exclude coverage of non-household items and fragile items.So if the unexpected occurs, you might be exposed to significant losses.Thus, check with your carrier to see what’s covered and consider buying separate collectible insurance specific to your artwork and collectibles.

Ways to Protect Your Valuable with Collectible Insurance Collectible insurance can be purchased in two forms, including: How Much Does Collectible Insurance Cost? The cost of collectible insurance may vary among carriers based on the value of your collection, the amount of coverage you need, how you store your collectibles, and more.That said, premiums may range between 0.5%-2% or about $1-$5 per year for every $1,000 of the insured value of your collectibles.Factors To Consider When Purchasing Collectible Insurance Top things to keep top of mind when purchasing collectible insurance include: An independent insurance agent can help you find affordable collectible insurance rates.