Insurance for a Collection

One only has to watch an episode of the BBC's Antique Roadshow to learn that the British are a nation of collectors and that we are fascinated by unusual artefacts as well as the more traditional art and antique furniture.

The most enjoyable part of my job is speaking with potential clients and learning what their particular passion is. I do not always have an in depth knowledge about their particular penchant but their enthusiasm is often infectious and I invariable learn something new.

It is very evident from my discussions that whatever you collect, whether it be stamps, coins, memorabilia of a particular bent, ceramics, clocks (in fact the list is endless) finding the right insurance cover for your treasures, collected over many years, is not easy to find.

The standard home insurance policy advertised on the internet and television by the well known names are designed and marketed to the general public nationwide with a "one size fits all" approach. As soon as you ask them to cover a collection or something unusual you are usually met with a deathly silence on the end of the phone or even worse a non negotiable "no". In many ways it is understandable. Your possessions are unique and these insurers are not targeting you for your business.

Fortunately, the home insurance insurers with whom I have arrangements to obtain quotations, offer bespoke insurance solutions to suit your needs. They understand that rather than being a high risk you are probably the opposite. A collector takes great care of their possessions, it is often catalogued in great detail, and frequent small claims are rare occurrence.

Moreover, the High Net Worth Insurers do not impose restrictive conditions preventing you from enjoying your collection. They generally accept that you may have items on display, stored in unusual circumstances or at a different location or bought and sold on a regular basis.

Should you have a collection requiring insurance with a degree of flexibility or simply a single item that your current home insurance policy will not accommodate I would be delighted to discuss your needs with you. If nothing else I would enjoy learning about your particular passion.

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