We all have special possessions that we prize above others. From huge flat screen TVs to super-compact laptops and from favourite pieces of jewellery to family heirlooms, there are a whole range of objects that people are keen to keep safe.
As specialist broker Chill highlights, it’s important to read the terms of home insurance policies to see if these items are included, and bear in mind that certain high value possessions might need to be listed separately on your policy. Meanwhile, there may be a range of more unusual objects in your home that require extra insurance too.
For example, do you have expensive wines, whiskies or other tipples at your property that you’re planning on keeping? If they’re old enough, particularly good quality or very rare, there beverages can be worth big bucks, and the chances are you wouldn’t be able to claim for loss or damage to them under your regular home insurance. If you’re not sure whether or not your drinks are worth insuring, get an expert to value them. Especially if you have had the tipples for a long time, you might be surprised by the extent to which their market value has increased.
Signed memorabilia is often worth covering too. Whether you have signed sports items like trophies or shirts, music memorabilia such as framed records or album covers or something else that has been written on by your favourite stars, it’s wise to look into insurance. To you, these prized objects may have largely sentimental value, but they can be worth a tidy sum too. So that you know how much to insure the items for, try to get them valued by a specialist.
Objects like stamps or maps may not be valuable by themselves, but if you’ve amassed large collections of these things over time, they could be worth a lot in total. The most sought after collections, and therefore those with the highest financial values, tend to be complete and rare. So, if your collections are simply gathering dust in storage right now, it could be time to get them out and discover their true value. If you find out that they are worth a decent sum, consider taking out specialist insurance just in case they are damaged or stolen.
As these examples show, it’s not just high-tech gadgets and sparkling jewels that need additional insurance. A whole range of more unusual possessions can require extra financial cover too.