Do you have the right insurance coverage for your antique collection?

It's important for Ontario homeowners with antique collections to ensure they get the right insurance coverage. 

You have a beautiful antique collection – and it needs protection.

Walking through your home is like looking back in time through the various decades and centuries. Unfortunately, all can be taken from you by a fire or thieves. You may not be able to replace specific items in your antiques collection, but you can insure them properly so that their value is recognized.

Know What's Covered by Your Home Policy

If you have a unique or extravagant antique collection, you probably need to discuss with a broker how to properly insure the individual items in the collection.

Your home policy will only go so far in covering these unique items – but only up to a certain point.

For example, you may have $20,000 worth of antiques, but your home policy will only help cover up to $5,000. On top of that, you will also have to pay your deductible before having any items replaced.

Attaching Antiques Through a 'Schedule'

The alternative to coverage of your antique collection under your home policy is to 'schedule' each item. Scheduling items means that your your antiques will be attached to your home policy, but without a deductible. 

This option will allow you to have more complete insurance coverage for these items should a disaster strike.

In order to schedule your items, you will first need an appraisal. When you engage an accredited appraiser, they will examine your collection to determine it's worth. Once they have completed the appraisal, you can forward the paperwork to your broker who will then schedule the items.

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