If you enjoy collecting memorabilia and think your collectables are valuable, it’s essential you protect them! Get your collection appraised and speak with your insurance broker regarding updating your home insurance policy.
Most home insurance policies limit or do not include coverage for special memorabilia or collectables so, in order to protect your financial investment, you must have them properly insured.
Memorabilia & collectable examples
Remember, if you have any of these examples you may need to insure them on your home insurance policy. Speak with your insurance broker to discuss and inventory your home to ensure your valuables are protected.
- Board Games
- Dolls and action figures (eg. Cabbage Patch or GI Joe)
- Medals and badges
- Movie collectables
- Movie posters
- Music memorabilia
- Sports memorabilia
- Trading cards
- Video game collectables
- Vintage furniture
- Vintage jewellery
- Vintage toys (eg. My Little Pony, Teddy Ruxpin)
What are the first steps to protecting your memorabilia/collectables?
- Estimate the value of your items >> here is a great resource that has several links to various online price guides and listing to help you get started
- Consult your home insurance policy: even if your policy has contents coverage, there is usually a limit and it may not be enough to protect the value of your collection
- Have your items appraised professionally >> here is a helpful resource - International Society of Appraisers Canadian Chapter
- Create a detailed inventory list with pictures and receipts. There should be multiple copies of this (electronic and hard copies) with at least one copy located outside of your home or online. You will need proof of what you owned in order to process a claim so this step should be a top priority!
It’s important to remember that it’s just as necessary to insure your collectables as it is to insure your home and other belongings. If you’d like a no-obligation insurance quote or have any questions regarding your insurance coverage, please contact us today!
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