The “Antiques Roadshow” on PBS is part adventure and part history lesson, where antique owners bring in their items to be appraised by experts – from an old hickory rocking chair find to a cabinet made in 1720. “Antiques Roadshow” is one of the most-watched television shows ever on antiques and collectibles and demonstrates the desire for individuals to grace their homes with prized, unique furniture possessions. And, while the hunt is half the fun, making sure these antiques are properly insured requires serious coverage – and a professional with a passion and appreciation for protecting them. In this article, we will discuss what Antique Furniture Insurance covers and how Distinguished industry experts can help protect your clients with the comprehensive coverage they need.
What Makes Furniture Antique?
A furniture piece is considered antique and valuable based on several factors, including age; rarity; craftsmanship (handmade and made to order, such as hand-carved mahogany piece); special and unique materials including original hardware and finishes; historical significance – furniture associated with a notable event, style, or designer such as those designed by famous artisans like Thomas Chippendale or George Nakashima; condition; and style and design (midcentury modern furniture is very popular now).
How to Properly Insure Antique Furniture
Antique furniture pieces are often collector’s pieces or heirlooms with a valuation that goes beyond what may be provided in a floater or schedule added to a Homeowners insurance policy. Distinguished’s Fine Arts & Collectibles insurance for antiques provides specialized coverage that is broader and tailored to the client’s needs, provided by experts.
Our policy is written on an all-perils coverage basis for physical loss or damage, covering losses during shipping, accidental breakage, water damage, theft, etc. We can provide a blanket or schedule policy with assigned agreed values for each item based on the purchase price or appraised value. We can also offer a combination blanket policy with certain items scheduled.
The Importance of Antique Furniture Restoration
Distinguished understands the high value of these antiques and the importance of restoration choices. Collectors will want a professional who understands how each item was constructed, especially for one-of-a-kind pieces or parts of a limited edition. In the event of a loss, Collectibles Insurance can protect clients from common causes of loss and guidance to help restore an item.
With Distinguished, you get a specialized expert underwriter who works on insuring collectibles day in, day out. Our colleagues live and breathe the art and collectible world every day and are passionate about it.
As an agent, you don’t have to be a collectibles expert. You have our knowledgeable, experienced, and talented underwriters to help you properly insure the risk. When working with us, we’ll ask to see the client’s documentation for the antique furniture, such as appraisals and bills of sale from reputable experts or organizations, to help establish value. We don’t want to over- or under-insure the furniture.
We also work with clients to help them make sound art transit insurance choices, such as securing the right specialty shippers and packers, as most losses occur while in transit.
Clients receive specialized claims service and specialty adjusters, particularly critical when there is a loss-in-value claim.
In addition, we offer flexible payment plans and deductible options, and because all collectibles are unique, we can make the necessary policy endorsements to provide the right coverage.
Coverage is written with a top-rated carrier on admitted paper.
Start Insuring Your Clients with Us, Sign Up Today
To offer your clients protection from Distinguished, register your agency with us. Then, you can complete our Fine Art and Collectibles application form to start the submission process.
To complete the form, you’ll need key information such as security measures, the properties covered, and any loss history. We also accept ACORD applications when accompanied by a Distinguished supplemental.
About Distinguished Programs
Distinguished Programs is a leading national insurance Program Manager providing specialized insurance programs to brokers and agents with expertise in Real Estate, Fine Art and Collectibles, Environmental and Construction Professionals, Inland Marine, Executive Lines, Community Associations, Hotels, and Restaurants. Property and liability products are distributed through a national network of agents and brokers. Serving the same core markets and partnering with the most stable and reputable carriers, Distinguished Programs’ high-limit umbrella programs remain the clear choice in its specialty areas for superior coverage, competitive pricing, and attentive service. Through thoughtful innovation from 1995, Distinguished Programs fosters growth and opportunities for its brokers, carriers, and employees.