Are You a Collector? How to Protect Your Valuables

If you collect things, whether it’s old soda bottles, action figures, or comic books, you know how important they are to you. You want to display them in a useful way so that guests — and you — can enjoy them.

At the same time, you want to protect your valuables in case something happens. There are a lot of ways to enjoy your collection while still protecting it.

Here are some tips you can use today!

Make Sure Your Collection is Appraised Regularly

The first step to protecting your collection is to know how much it’s worth. Whether you have your collection valued as a whole or simply get the most valuable pieces appraised, it’s vital to understand how much your items are worth and to get that statement in writing.

Many collectors make the mistake of thinking that an appraisal is a one-time event, but the truth is that the market changes regularly. So consider getting a new appraisal every three years so that you know you’ve protected your valuables at the right level.

Get Proper Insurance Coverage

Once you know the value of your collection, the next step is getting the appropriate coverage on your homeowner’s or renter’s policy. You might not realize it, but most policies have a limit on the dollar amount of coverage for specific categories of belongings, like jewelry, collectibles, and antiques.

Your collection is likely worth more than the low limit that is the default on your policy, so contact your insurer about getting a specific rider attached to the policy that covers your collection at the appropriate, appraised amount.

To get the best rates, you can shop around. For example, you can check Freeway Insurance to get fast and free quotes for homeowner’s or renter’s policies.

Display Your Collection Safely

Having your collection visible for you, your family, and visitors are part of what makes collecting fun. However, when your collection has some valuable pieces, it’s a good idea to be careful with your display arrangements.

Consider putting the valuable parts of your collection into a locked glass display case. That way, they are visible but aren’t open to theft or accidental damage. You can also keep collectibles on high shelves so that people can admire them but cannot touch them.

Finally, when selling an item from your collection, meet the potential buyer at a place away from your home, and don’t be quick to share information about the rest of your valuables. While we’d like to believe that everyone in our hobby is as trustworthy as we are, that’s simply not the case.

Enjoy Your Collection and Keep It Safe

Collecting is an enjoyable hobby and a great way to share your passions with others. However, it’s important to take steps to keep your collection – and you – safe.

When you get regular appraisals, update your insurance coverage to include your collection, and display items safely, you’ll be able to showcase your collection without worrying about loss.


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