Collectibles Insurance: Coverage For All Of Your Clients’ Personal Collections

Collectibles are not just objects; valuable coins, rare stamps, or wine collections are all physical embodiments of unique stories created by human hands. However, these cherished possessions are also vulnerable. Damage, theft, or natural disasters can threaten these collections, which is why every serious collector should invest in specialized Collectibles Insurance as a much-needed safety net.

In this guide, we’ll explain the ins and outs of Collectibles Insurance and how our team here at Distinguished can provide your clients with the comprehensive coverage they need. That way, your clients can continue to pursue their passions and curate their unique collections, secure in the knowledge that their valuable investments are well-protected.

Who Needs Collectibles Insurance?

Collectibles Insurance is necessary for any clients who have invested time, money, and passion into building their unique collections, regardless of whether they focus on one kind of collectible or many.

This is not just restricted to antiques, wine collections, or fine art. Collection Insurance is perfect for anything with an established value that can be sold on a secondary market, including: 

• Antiques and Antique Furniture 
• Stamps 
• Fine Art 
• Comics
• Sports and Entertainment Memorabilia 
• Books & Manuscripts 
• Coins  
• Furs 
• Glass or Pottery 
• Wine and Whiskey 
• Video Games
• Couture Clothing and Handbags
• Musical Instruments
• And more  

If you’re unsure if your client’s collection is something we would insure, please contact us, and we’ll get you an answer as soon as possible. 

Why Choose Collectibles Insurance Over Coverage From a Homeowner’s Policy?

A Homeowner’s policy usually provides some coverage for the items your clients own, including collectibles. However, a collectibles policy is usually the better choice because it has been tailored for the needs of the collection and offers certain coverages a Homeowner’s policy just wouldn’t.

Some of the benefits your client could get from a specialized Collectibles Insurance policy include:

• Lower deductibles
• More flexible or beneficial valuation of the property
• Automatic coverage for new items
• Comprehensive transit coverage
• Expertise in the realm of niche collectibles

Plus, by insuring your collectibles under a standalone collectibles policy, your client protects their Homeowner’s insurance from the consequences of making a claim. This way, if something happens to their collection, they don’t need to worry about filing a claim and it affecting their larger Homeowner’s policy. 

What Does Collectibles Insurance Cover?

Among other risks, Distinguished’s coverage can protect you from common causes of loss like:

• Theft
• Accidental damage
• Damage in transit

For nearly all kinds of collectibles, the biggest risk occurs when they move between stored locations. That’s why we offer a comprehensive worldwide transit policy. So, if your client transfers a piece from one of their homes to another, it’ll still be covered for the move’s duration. 

You can learn more about the specifics of our travel coverage in our guide to Distinguished’s Art Transit Insurance. 

What Are The Benefits of Partnering With Distinguished for Collectibles Insurance?

At Distinguished, we strive to be an ideal partner for all of your Collectibles Insurance needs. To do this, we offer in-depth knowledge spanning diverse collectible niches, flexible underwriting, comprehensive coverages, and so much more. 

Here are just a few of the benefits you’ll get by partnering with us:

• Expertise: Our team of experts understands and is familiar with a wide variety of collectible niches, including lending or consigning a collection and how this may affect insurance needs. 
• Flexible deductibles and payment options: Our underwriting team can design each policy to fit your client’s unique collection, budget, and risk tolerance.
• Convenience: Our policies include things your clients will need, like automatic coverage for newly acquired items (up to 25% of the limit) and worldwide transit coverage. 
• All risk policy: Our policies are comprehensive, with only a handful of causes of loss excluded.
• Smart valuations: We’ll value your collection at an agreed value with an option to extend to market value up to 150% of the agreed amount (with additional underwriting review).
• Passion: Our team is passionate about what your clients collect and is willing to go the extra mile to ensure that these pieces get the coverage they need. 
• Superior service: Our dedicated claims and underwriting teams are always ready to handle applications, endorsements, or questions, making both you and your client’s lives a little easier.

How Much Does Collectibles Insurance Cost?

The cost of a collectibles policy will change a lot based on a number of factors, including the nature of the collection, the value of the collection, and more. For this reason, there’s no reasonable average we could provide you. However, it can be useful to understand what our underwriters will consider when evaluating your client’s collection. 

The main factors they will consider are:

• Collection type: The kind of items that make up the collection.
• Value: The overall worth of the collection and how that value is dispersed among its items. 
• Risk distribution: The geographic spread of the collection across various locations will affect the premium. 
• Deductible: The preferred deductible will influence the end insurance premiums.
• Storage location: The physical location where the collection is stored and its susceptibility to floods, fires, etc. 
• Past loss record: A history of safe storage and handling can positively affect the policy’s final premium. 
• Transportation: The frequency of moving, packing, and transporting the collectibles between locations can affect the premium. 
• Coverage type: The choice between blanket or scheduled coverage could affect the cost of the policy.

The best way to get a specific insurance quote for your client is to contact our team directly. You can do so through email, or you can submit business (specifics below) to get a bindable quote in just a few short days.

Sign Up With Distinguished Today

To access this program, you’ll simply need to register with us and then fill in and submit an application form. With the application, please try to include a schedule of covered property and any appraisals or invoices that you may have.

If you don’t have any of these documents, you can still contact us, and we can walk you through what we’ll need from your clients to get them a bindable insurance quote. 

At Distinguished, we offer Collectibles Insurance policies through our wider Fine Arts and Collectibles program, which can also help you insure a wide variety of other clients in the fine arts and collectibles sphere. Take a look at some of these pages to learn more about the kind of clients we can help you insure:

• Art Dealers and Galleries Insurance Program
• Artist Insurance Program
• Corporate Collections Insurance Program
• Exhibitions Insurance Program
• Museum Insurance Program
• Private Collection Insurance Program

If you have any questions about our Fine Art and Collectibles Insurance Program, please feel free to contact us at fineartandcollectibles@distinguished.com.

Distinguished’s Collectibles Insurance FAQs

Will it cover my client’s houses, offices, or other secondary locations?

Yes, we cover property worldwide (except as prohibited by law). We’ll also want to list any of your permanent locations, like second homes or storage facilities, on your policy.

How do you figure out what a collection is worth?         

An independent appraisal is the best way to determine your client’s property’s value. When selecting an appraiser, look for the following: 

• Credentials like a USPAP certification
• Membership in appropriate professional associations
• A good reputation
• Experience or specialization in the kinds of collectibles your client needs to be appraised

When we are agreeing to a value for your property, we’ll ask for an appraisal (typically completed within 3-5 years prior to application) or an invoice or receipt from the purchase if the piece is new.

Do we require an appraisal to get a quote or policy?

It depends on your client’s situation. We will determine the appraisal needs based on the specific collection. 

A good rule of thumb will be appraisals for single items valued over $100,000 or appraisals for the top 10-25% of your collection, but we are happy to work with you to help you determine what is needed. 

As well, in certain circumstances, we may accept invoices, purchase receipts, or letters from sellers.

Can I include multiple types of collections on a single policy?

Yes, we can help you insure all kinds of collectibles under a single policy.

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About Distinguished Programs

Distinguished Programs is a leading national insurance Program Manager providing specialized insurance programs to brokers and agents with specific expertise in Fine Art and Collectibles, Environmental and Construction Professional, Executive Lines, Inland Marine, Real Estate & Builder’s Risk, Community Associations, Surety, 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’s high-limit Umbrella programs remain the clear choice in its area of specialty for superior coverage, competitive pricing, and attentive service. Through thoughtful innovation, stemming back to 1995, Distinguished Programs fosters growth and opportunities for its brokers, carriers, and employees.

View a full list of our programs and submit business with Distinguished.

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