Best Collectibles Insurance

If you have any collections, you may need collectibles insurance to ensure that they’re protected. Here’s what you need to know about what collectibles insurance does and how to purchase it. Remember, your collectible items are precious, almost always impossible to replace and nearly invaluable. You could add insurance coverage to an existing policy, but you most often need a separate policy that will do the job.

Quick Look: The Best Collectibles Insurance

• Best for Family and Student Discounts: AKKO
• Best for Watch and Jewelry Coverage: BriteCo
• Best for a Wide Range of Covered Assets: WAX Insurance
• Best for Niche Collectors: Collectibles Insurance Services
• Best for Car Collectors: American Collectors Insurance
• Best for Full Market Value Coverage: MiniCo Insurance Agency

Best Collectibles Insurance

Collectibles insurance protects your valuable personal items such as jewelry, fine art, electronics or computers and can provide broader coverage than a scheduled property rider. You can start your search with the following list of the best collectibles insurance providers.

Best for Electronics: AKKO

AKKO was founded in 2019 and initially only offered coverage for college students. Today, AKKO offers protection plans for phones and other electronics for anybody. The company has no hidden fees, no restrictions on the age of your items or pre-ownership exclusions and a quick turnaround process for reimbursements.

Unlike some other collections insurance plans, AKKO offers a plan with 1 flat fee with unlimited claims. At $15/mo, the plan covers 1 phone and your choice of 25 other items. It charges a $29 to $99 deductible for phones and a $99 deductible for other items. The plan starts with a $2,000 limit for a single claim, but it can be upgraded to $6,000 if necessary. 

Best for Jewelry Collections: BriteCo

BriteCo offers jewelry insurance policies designed to be preventative in addition to providing coverage in the case of damages. Its unique preventative maintenance coverage covers prong re-tipping, clasp replacements and stone tightening to prevent serious damage to the jewelry items. It also provides free annual insurance value updates.

BriteCo insurance policies provide a wide range of coverages to protect jewelry in any situation you can imagine. It offers worldwide coverage and even covers gifts to others at different addresses. Jewelry that is insured by this plan is covered in the case of damage, loss, theft and mysterious disappearances. The policy’s coverage limits are 125% of the jewelry’s appraisal value and result in limited impact of claims to your homeowners insurance. Plans can be as low as under $10 per month, and you can pay even less if you pay annually in exchange for a discount. 

Best for a Wide Range of Covered Assets

WAX Insurance is a unique program for valuables, watches, jewelry and more that protects you from fire damage, water damage, loss or theft and even when your pet takes a bite out of your favorite collectible. Benefits of this collectible insurance program include:

• Watch and jewelry coverage up to $100,000 (fine art up to $250,000)
• No inventory requirements
• Up to 150% replacement costs paid
• Pricing as low as 1% of the item’s value
• High limits
• Insures accidental damage

Best for Niche Collectors: Collectibles Insurance Services

Horace Harrison, a well-known stamp collector, started Collectibles Insurance Services in 1966 to meet the needs of stamp collectors. Harrison and Associates was the name of the company he founded.

Harrison sold the agency to a fellow collector in 1983, and that collector grew the policies to cover all kinds of collections. The new owner changed the name of the company to Collectibles Insurance Services.

Collectibles Insurance Services was acquired by Global Indemnity Group LLC in 2010. Global Indemnity is a worldwide provider of specialty insurance and reinsurance products and services. AM Best gives its member companies an A (Excellent) group rating.

Best for Car Collectors: American Collectors Insurance

American Collectors Insurance is a known leader in insurance for collectibles. Since 1976, the company has provided collectibles insurance to people throughout the United States.

American Bankers Insurance Co. of Florida, American Reliable Insurance Co. and American Security Insurance Co., all part of Assurant Specialty Property, underwrite the collectibles policies.

Best for Full Market Value Coverage: MiniCo Insurance Agency

MiniCo Insurance Agency LLC was established in 1974 with the sole purpose of developing specialist insurance products for the self-storage sector. It’s among the biggest specialized insurance writers in the country.

Jencap, one of the biggest wholesalers in the U.S., is the parent company of MiniCo. AXA XL, a leader in specialty art and collectibles insurance, underwrites MiniCo's program for insuring collectibles. AXA XL has an A rating with AM Best.

What is Collectibles Insurance?

Wine collections, fine art, jewels, sports memorabilia and other valuables are all covered by collectibles insurance. When your homeowners policy does not provide adequate insurance to replace your most valuable items in the event of a loss, a collectibles insurance policy will cover losses from theft, fire or accidental damage.

According to the Insurance Information Institute (III), jewelry theft has particular liability restrictions. Because jewelry is often stolen, the ordinary homeowners insurance policy only includes a low theft liability limit — usually $1,500. The insurance will only pay the policy limit for any jewelry or other costly items.

Most insurance policies for collectibles have agreed-value protection. Agreed-value insurance pays out a set amount that was agreed upon when you bought the policy. The agreed-upon price is based on several factors,  including the item's condition, its unique qualities and how rare it is.

Optional Coverage

Some insurance policies for collectibles also protect against inflation. For example, with inflation-guard protection, your insurance company will automatically raise the limits of your coverage to keep up with inflation.

Coverage for new additions to your collection may be included in the base premium of some collectibles insurance policies. Limits on automatic coverage are commonly imposed by insurers.

There may not be a time limit on the coverage for objects automatically added to your policy if you have them insured with a company specializing in collectibles. Before you add to your collection, check the details of your insurance policy.

Optional insurance for valuables stored in a public storage facility and items lost in transit may be available for purchase.

Claims Process

When you file a claim with collectibles insurance, you'll need to provide details about the loss, such as when and where it happened and which items in your collection were damaged. In addition, you will likely be asked to provide photos of the damaged items.

Can You Add a Rider to Your Homeowners Insurance?

When you buy homeowners insurance, you probably think it will cover everything you own. The truth is that you might need more coverage. A standard homeowners insurance policy only pays a certain amount for costly personal items like jewelry, electronics, art and coin collections.

The declarations page of your policy will say how much coverage you have for your personal property. Most of the time, it's between 20% and 50% of the homeowners insurance coverage for the home's structure. For less than $1,000, you can get coverage for one item, like jewelry. You can add coverage for these pricey items with a scheduled personal property endorsement.

The homeowners insurance rider for collectibles is not limited to jewelry. You can also schedule collections of electronics, art or coins. By putting these things on your policy, you are protecting your most valuable items so you can replace them should they be lost in a fire or stolen. 

If you add a personal article floater, also called a policy rider, to your homeowners insurance and the item is lost in a fire or theft, you will get a value-loss settlement. If the item is lost or stolen during a covered loss, you will get its total appraised value and won't have to pay a deductible.

Who Needs Collectibles Insurance?

Collectibles insurance protects high-value collections, such as paintings, instruments, sports memorabilia and wine cellars. Websites, online auctions and online markets are at your disposal as a collector, allowing you to expand your collection and boost its worth. The odds are high that a standard homeowners or renters insurance policy will need more coverage for your growing collection. 

When it comes to insuring valuable collections, collectibles insurance may be the best choice. Many types of valuable items that collectibles insurance covers are available, including:

• Wine collections
• Silverware
• Stamp collections
• Antiques
• Artwork
• Persian rugs
• Sports memorabilia
• Rare books
• Musical instruments
• Coin collections
• Firearms
• Comic books
• Jewelry
• Model trains
• Vintage toys

Frequently Asked Questions