$10,000 Collectibles Insurance Coverage for $4 a month

You’ve taken a long time to find and buy that significant collectible. But now, how do you protect it?

Nothing in life is 100% indestructible, but when it comes to your collectibles value there are some ways in which you can buy cheap and affordable insurance for your collectible. Yet the insurance covers your collectibles value completely.

On average a collectible that is worth about $10,000 will cost you about $49 a year or about $4 a month. If you have a collectible worth more the insurance premium is usually less. For example a $100,000 insurance coverage will cost about $239 a year or about $10 a month.

Some things to keep in mind about collectibles insurance is that some collectibles are not covered. So, always check with your collectibles insurance company to verify that your items is covered.

Not all home insurance policy’s cover your collectibles. And if they do, they usually only cover up to a certain amount which is usually about $2,000 or less.

Never over insure, as you might be required to show a receipt for your purchase or required to provide expert appraisals and insurances usually only pay out the actual value of the items even if you over paid for insurance. For instance,if your item is worth $2,500 but you paid insurance for $10,000, if something happens to your collectible the insurance will only pay you the $2,500 even if you paid insurance coverage for $10,000.

Finally, the best thing to do to keep your collectibles secure is to not tell anyone outside your household about them. The fewer people know about your collectibles the safer they are. If you have items that are worth a lot of money consider buying a large and secure safe. For items that are extremely valuable consider storing your items in a bank safety deposit box.