Valuables & Collections Insurance

Safeguarding Your Cherished Treasures with Expert Coverage.

While homeowners' insurance provides some coverage for personal property, it often has limits that may not fully cover high-value items. Valuables and collectibles insurance is a specialized coverage designed to protect your cherished and valuable possessions. HWP’s extensive carrier network offers insurance that covers some of your most treasured collectibles, from fine art and antiques to jewelry, rare coins and memorabilia.

We can offer coverage for the agreed value or replacement cost. In the event of a total loss, your policy will pay out the agreed-upon insured amount without a deduction for depreciation.

Whether you're an avid collector or simply own a few high-value items, “valuables and collectibles”  insurance is essential to protecting your valuable assets.


What Does Your Insurance Policy Cover?

Our carriers provide valuables and collectibles insurance policies tailored to safeguard your most valued possessions.

  • Jewelry
  • Antiques
  • Wine
  • Furs
  • Stamp & coin
  • Fine art
  • Music instruments
  • Silverware
  • Worldwide coverage
  • Collectibles

We understand the emotional and financial value these items hold. Carrier insurance policies offer you the peace of mind that your valuables are sufficiently protected against unforeseen events.

Assessing the Value

Safeguarding your prized possessions begins with understanding their true worth. When it comes to valuables and unique collections, a rough estimate or guess won't suffice. Here's why:

  • An accurate appraisal ensures that you're neither over-insured (paying more than you need to) nor under-insured (risking potential financial loss). It offers a clear benchmark in case of loss, damage, or theft, determining the exact compensation you're entitled to. Without an accurate appraisal, you might discover that your insurance won't cover the full value of your item when it's too late.

  • Engaging with professional, certified appraisers who specialize in your type of collectible or valuable is vital. These experts stay updated with market fluctuations and use standardized methods to determine the value. Their credentials and expertise add weight to the appraisal, making it more likely to be accepted without dispute by insurance providers.

  • The market for collectibles and valuables is dynamic. An artwork, for instance, may soar in value after the artist gains international acclaim. Jewelry might appreciate based on gem market dynamics. Hence, periodic re-evaluations are crucial, typically every 2-3 years. Updated valuations ensure that your coverage remains relevant and commensurate with the item's current market value.


Agreed Value and Replacement Value

Agreed value is a type of insurance coverage where the carrier and the policyholder agree on the value of the insured item when the policy is issued. If the insured item is lost, stolen or damaged beyond repair, the insurer will pay this agreed-upon value.

Replacement value refers to the cost of replacing the insured item with a new one of a similar kind and quality without any deduction for depreciation. In the case of a claim, the insurance company would pay the cost to replace the item up to the policy's limit.

Secure Your Treasured Possessions with HWP Insurance

At HWP, we specialize in providing insurance solutions for valuables and collections across Virginia, Maryland and Washington, D.C. Our dedicated team understands the unique intricacies of insuring prized assets. Whether it's art, jewelry, or rare collectibles, our tailored plans ensure they're safeguarded to their full value.

Ready to experience peace of mind? Connect with our expert advisors today. Simply fill out our online form or give us a call and we'll guide you through the options best suited to your unique needs. Your treasures deserve the best protection; let HWP be your trusted shield.

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Frequently Asked Questions (FAQs)

  • Why do I need specialized insurance for their valuables and collectibles?

    Standard insurance policies often limit coverage for high-value items, which may not fully cover the true value of rare or expensive collectibles; specialized insurance ensures these items are adequately covered for their appraised value.

  • What types of items can be covered under valuables and collectibles insurance?

    This insurance can cover various items, from fine art, antiques and rare books to jewelry, stamps, wine collectibles and sports memorabilia.

  • How is the value of an item determined for coverage?

    Typically, an accredited appraiser assesses the item's worth. The appraised value is used to determine coverage amounts; it's advisable to regularly update appraisals, especially for items that might appreciate over time.

  • Does valuables and collectibles insurance cover items when they are transported or loaned to museums?

    Many specialized policies offer coverage for items during transport or when loaned to institutions, but it's crucial to verify with the insurer to understand the extent and limitations of such coverage.

  • How does the claims process work in case of loss or damage?

    In the event of a claim, policyholders typically need to provide documentation or an appraisal of the item, photographs if available and details about the circumstances of the loss; the insurer will then evaluate the claim based on the policy terms and the item's verified value.

Insurance Tailored to You.
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