What is collectible insurance?
Collectible insurance can protect your collection against risks such as accidental damage, flood, fire or theft. There are all sorts of collections being curated across the UK, from stamps to books to antiques.
Although the individual items in your collection may not be worth much, the value of a collection as a whole can build up and it should be insured accordingly.
What you need to know about collector insurance
It’s really important that you get your items valued before taking out a policy so you can avoid being underinsured. A professional appraiser can determine the value of your collection. This, in turn, will allow your insurer to underwrite your collection accurately.
As the value of a collection can change over time – as you add to it, and as market prices vary – you should also get it re-appraised every 1-2 years. If your collection increases in value but you don’t update your cover level then you could be underinsured, leaving you out of pocket if you need to claim.
Protect your collections
HomeProtect insurance for collectibles can cover a broad range of risks and mishaps including theft, fire, smoke, and basic accidental damage. And there’s no need to arrange separate insurance protection for your collection because it can be incorporated in your home contents policy.
What does collectible insurance cover?
Under a HomeProtect contents insurance policy, you are covered up to a maximum of £5,000 or 20% of the contents sum insured, whichever is lower, for high risk items worth less than £1,500 or as part of a collection.
If your collection contains any high risk items, you need to specify on your policy that the collection as a whole is worth more than £1,500. High risk collections include coin collections, medal collections, and stamp collections as well as collections of antiques, glass, china or porcelain (including porcelain dolls), silver, or guns.
Collections of other dolls, comics, sporting, TV, film or music memorabilia, vinyl records or CDs, or other items that we don’t classify as high risk, don’t need to be specified on your policy, even if they are valuable, but it’s still important to have an up-to-date estimate of what your collection is worth so that you can include its value in your general household content sum insured.
Frequently asked questions
Insuring collectibles - can I add them to my home insurance?
Yes, you can insure your collectibles as part of your home insurance. If any individual item, or a set of items, is worth more than £1,500 it should be individually specified on your policy. Please note that you should store your collectibles in the main home building (rather than a detached garage or outbuilding) to be covered for theft or damage.
How much does insurance for collectibles cost?
Collectibles are included in HomeProtect contents insurance. As with all contents, any item or set worth more than a certain amount should be individually specified on your policy. Check the current level in our policy booklet. The cost of contents insurance depends on a range of factors including the total sum insured, and the location and security of your property.
Is my collection covered for theft if it’s stored in my garage?
Yes, if your garage is integral to your home and is locked. If your garage is a separate outbuilding, don’t forget that there is a limit for any one claim for items stored in outbuildings. Check the current level in our policy booklet. For all theft claims, cover is only provided where there are signs of damage caused by the thief to gain entry.
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Superb service that informed me throughout the process of application. I had thought getting contents insurance would be difficult for me but HomeProtect came to the rescue. Trustpilot, 14 July 2017
Was impressed with the online process of filling out the forms as was asked questions, particularly about adding sufficient cover for jewellry cover which none of my other insurance companies asked so feel more confident that I am sufficiently covered and all at a good price! Trustpilot, 1 September 2017
I would highly recommend this insurance company to anyone look for superb customer service - each person I have spoken to has been highly efficient & courteous. I was guided each step of the way when I needed to change some of our policy - nothing was too much trouble. Trustpilot, 25 February 2017