Insuring the Extraordinary: Coverage for Your Fine Art, Jewelry, and Collectibles
- Monica Romstadt, CPRIA
- Feb 12
- 2 min read
Updated: Jul 31
Fine art, heirloom jewelry, and rare collectibles are more than just assets—they hold significant personal value. Protecting them requires more than standard insurance; it requires specialized coverage tailored to their unique worth and exposures.
Why Standard Insurance Isn’t Enough
Standard homeowner’s or renter's policies often provide limited coverage for high-value items like fine art or jewelry. These policies typically:
Set coverage limits for categories like jewelry or antiques.
Exclude certain losses, such as accidental damage or mysterious disappearance.
Ignore the appreciating value of rare items.
Specialized insurance is designed to protect these possessions, offering peace of mind that standard policies cannot.
Here are some exposures that ordinary policies typically do not cover:
Losing and Misplacing. Losing valuable stones from jewelry or misplacing a treasured article.
Accidental Damage: Mishaps like dropping a ring or scratching a painting
Natural Disasters: Certain natural disasters, like floods or hurricanes are not covered under ordinary policies, making your treasured items exposed.
Transit and Display Exposures: Collectibles in transit or on display as an exhibit.
In addition to securing specialized insurance for your valuables, consider these best practices for insuring your extraordinary items:
Obtain Professional Appraisals: Ensure your items are insured for their true value.
Document Your Possessions: Keep detailed records, like photos and appraisals, for verification at claim time.
Consider Worldwide Coverage: Ensure global protection if you travel or loan items.
Secure Proper Storage: Consider safes, safety-deposit boxes, or climate-controlled environments.
Review Annually: Talk with your agent annually to update value changes and acquisitions.
Your fine art, jewelry, and collectibles represent not only financial investments but also deep personal significance. Through our Private Client Group, we’ll ensure that these extraordinary possessions are protected against life’s uncertainties.
