Protect Your Valuable Miniature Collectibles With Special Insurance

admin — Wed, 13 Aug 2008 18:01:04 +0000

By Veronica Scott

Miniature collectibles make for a beautiful collection and
display. There are limitless possibilities to add to a miniature
collection. It can be a very lucrative and rewarding hobby. It
is important to consider that a collection with so much
potential value should be insured. There are many factors to
consider when choosing whether or not to purchase insurance for
a collection of miniatures.

1) An extensive collection of dollhouse miniatures should be
insured. A smaller collection may not need to be insured, but it
is a good idea to consider it. Many people assume that
homeowner’s insurance will cover their dollhouse collectibles as
well as the rest of their belongings. This is not the case
however and can lead to a terrible loss of a beloved collection.
Homeowners insurance will cover a portion of a collection. The
point of homeowners insurance is to cover every day belongings
as well as the structure of the house. Most homeowners
insurances will allocate only 50% of the coverage to personal
belongings. At that point, only 10% of the allocated money can
be put towards replacing a miniature collection. If the
collection exceeds this amount then it is necessary to purchase
additional insurance to protect it.

2) There are several factors to consider when choosing to
purchase special collectible insurance as opposed to relying on
homeowner’s insurance coverage. Homeowners insurance often has a
deductible, which may be higher than the cost of an individual
piece of the collection. That means, that if a single piece is
lost, stolen, or broken, then it will be necessary to pay for
the replacement out of pocket. Special collectible insurance
will cover the cost of a single piece of the dollhouse
miniatures collection if it is lost, stolen, or broken. That
kind of protection makes special collectible insurance a good
idea for the serious collector.

3) It may be difficult to choose the amount of coverage needed
to insure a dollhouse miniatures collection. Special collectible
insurance will cover the cost to replace the collection, so it
is necessary to estimate the replacement value of each piece.
Also consider that the collection may increase in value over
time or as new pieces are added. Many insurance companies will
offer an increase in coverage over time to cover the increased
value of the collection.

4) The cost of the collectible insurance will vary from company
to company, but is essentially determined by the same factors.
The replacement value of the collection is the most important
factor. The insurance company will also take into consideration
how and where the collection is stored or displayed. If the
collection is kept in a safe, then the cost will be less than if
it is displayed in the open. If the house has an alarm system,
then the premium will also be less. Another consideration is how
the house is heated and cooled. Many collectibles are preserved
better in a certain temperature or humidity. All of these
factors will play a part in to how much special collectible
insurance will cost.

It is important to weigh the cost of insuring a collection
versus the cost of losing the collection and not being able to
replace it. While nothing may ever happen to a collection, there
is always the possibility. The cost of the insurance is
definitely worth the peace of mind. A dollhouse miniatures
collection should be treasured and preserved.

About the Author: Learn more about the fascinating world of
miniatures. Visit www.themagicaldollhouse.com today for a
great selection of wooden doll houses and dollhouse accessories
from top miniature companies.

Source: www.isnare.com

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Art and Antiques Insurance

admin — Sun, 13 Apr 2008 15:06:09 +0000

Is the Art and Antiques Insurance Cover on your Home Policy Adequate for your needs ?
Most home policies will insure your precious objects like art or antiques under the contents section of the policy. But if you possess a valuable painting, item or collection, it’s worth checking to see whether this cover really meets your needs fully. You may get a better deal by switching to an insurance provider who understands art and antiques insurance better.

Most home policies are designed to offer Art and Antiques Insurance in a very general manner. After all, they have been created to cater to the needs of an average family and accord very little consideration to the specific needs of the individual customer, especially one who owns precious art and antiques.

Typically, the insurance cover will be limited to a percentage of the overall contents. Besides this, the insurance sum insured will have a single article limit that’s too low and rarely provides cover away from the home unless a specific extension to cover is opted, and paid, for. This may not be the ideal situation for precious objects like art, antiques and other high value items.

Dovetail Insurance Services only recommends insurers who recognize that this type of general cover is too restrictive for individuals needing more art and antiques insurance than the average home. These providers are often referred to as “High Net Worth” insurers.

These are some of the art and antiques insurance benefits you could get with a High Net Worth policy:

• Worldwide All Risks cover so that your art and antiques are covered wherever you may take them.

• A high value single article limit (i.e. no individual specification required) of up to £25,000

• Depreciation in value of the piece of art or antique, following restoration, if it is only partially damaged rather than completely lost or destroyed

• Assistance in getting your art and antique collections professionally valued

• If you have a valuation, which is less than 3 years old, your art or antique could be covered for up to 150% of the specified figure to give protection against market value appreciations

• New acquisitions of art or antiques covered automatically upon purchase with a set time period to notify the insurers.

The insurance cover varies between each provider so we need to know which items are particularly valuable to you so that we can get the best possible art and antiques insurance. Please use the ‘Your Specific Needs’ section of the quotation request form to tell us or contact us directly.

About the Author: www.dovetailinsurance.co.uk/art-and-antiques.htm

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Protect Your Valuable Miniature Collectibles With Special Insurance

Art and Antiques Insurance