Whether it’s a case of antique military bayonets or a wall of folk art, your collection is as individual as you are. It can range from the very quirky (like an array of handcrafted garden gnomes) to the more traditional (such as fine art and expensive jewelry). But because collections are so personal, it’s easy to overlook them when it comes to your homeowners insurance or renters insurance coverage. Don’t assume your valuables are covered by a standard policy; make sure by talking to a GEICO Insurance Agency associate. We can help you adjust your policy or add a separate endorsement or rider specifically for collections of special value.
Step 1: Appraise Your Collection
Working with the GEICO Insurance Agency to make adjustments to your policy is easy, but the trickiest part of getting the right coverage for your collection is often determining what it’s worth; this should be your first step. All collections carry sentimental value, not to mention the time, energy and money you’ve spent assembling and caring for them. But that kind of value can be hard to quantify. Which is why you need to enlist the help of a professional appraiser. An appraiser can help you put a dollar value on your items, one that considers historical significance, rarity and market appreciation.
Step 2: Determine the Agreed Value
Market appreciation is a very important factor when insuring your collectibles. Most standard policies resolve claims based on the actual cash value of what your damaged or stolen item is worth today. But what if it’s one of a kind or its value has appreciated since you purchased it, as is often the case with art or antiques? You need to establish an “agreed value” with a GEICO Insurance Agency associate, which is based on the appraisal amount.
Step 3: Choose Your Coverage
You should also consider the perils you’re covered for. Depending on your coverage, some collectible insurance allows you to claim accidental loss, breakage, flood or earthquake damage that your standard coverage may not include.
And remember that collections, by definition, tend to grow. Which is why you need to take stock every year or so and make adjustments to your appraisal and insurance if necessary. After all, you collect these items because they’re important to you. So the right insurance is a must, even more so than the glass display case you keep lovingly polished or the archival paper in which each item is carefully wrapped.
Quiz: Are Your Heirlooms Safe?
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Grandma’s wedding ring, family photos, Dad’s watch—they all deserve better protection than a repurposed shoebox. Providing proper care—and adequate insurance coverage—is easier than you think, according to experts.
Take our quiz below to see how much you already know about preserving your valuables. Results can help you ramp up protection.
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Question 1 of 6
1. Question
Which rooms are the worst for storing family treasures?
Correct
You wouldn’t want to spend all your time in a basement, attic or garage, and likely for the same reasons that these are all bad places to store your heirlooms. Dramatic temperature changes and high humidity levels in these areas of the house can damage aging paper, wood and precious metal. “It’s in those damp areas that you need to worry about mold growth, which can be a big problem for paper,” says Amy Lubick, acting director of preservation programs at the National Archives. Meanwhile, drafty spaces such as attics and garages can let in the weather and attract pests, from insects to mice, that will happily make nice little nests out of your irreplaceables.
Incorrect
You wouldn’t want to spend all your time in a basement, attic or garage, and likely for the same reasons that these are all bad places to store your heirlooms. Dramatic temperature changes and high humidity levels in these areas of the house can damage aging paper, wood and precious metal. “It’s in those damp areas that you need to worry about mold growth, which can be a big problem for paper,” says Amy Lubick, acting director of preservation programs at the National Archives. Meanwhile, drafty spaces such as attics and garages can let in the weather and attract pests, from insects to mice, that will happily make nice little nests out of your irreplaceables.
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Question 2 of 6
2. Question
Where should papers and photos be kept?
Correct
Your family photos are irreplaceable, so proper precaution should be taken to ensure their preservation. Materials that aren’t acid-free can trigger deterioration of photos and paper, so purchase products from reputable companies specializing in archival supplies—not all photo boxes and scrapbooks are created equal, Lubick says. To prevent items from sticking to each other and for safer handling, place them in inert polyester sleeves. You can also look for archival storage that has passed the Photographic Activity Test (PAT), which evaluates whether various materials are safe to be in contact with your photos.
Before you touch anything, wash your hands and your work surface to ensure that your skin oils and food fragments won’t stain the materials. Fingerprints can permanently mark photos, so wear nitrile gloves in the size that’s right for you. “Imagine if you have small hands and you put on a pair of extra-large gloves and then try to handle something that’s fragile,” Lubick says. “You could actually do more damage with a pair of gloves that don’t fit you properly.”
Incorrect
Your family photos are irreplaceable, so proper precaution should be taken to ensure their preservation. Materials that aren’t acid-free can trigger deterioration of photos and paper, so purchase products from reputable companies specializing in archival supplies—not all photo boxes and scrapbooks are created equal, Lubick says. To prevent items from sticking to each other and for safer handling, place them in inert polyester sleeves. You can also look for archival storage that has passed the Photographic Activity Test (PAT), which evaluates whether various materials are safe to be in contact with your photos.
Before you touch anything, wash your hands and your work surface to ensure that your skin oils and food fragments won’t stain the materials. Fingerprints can permanently mark photos, so wear nitrile gloves in the size that’s right for you. “Imagine if you have small hands and you put on a pair of extra-large gloves and then try to handle something that’s fragile,” Lubick says. “You could actually do more damage with a pair of gloves that don’t fit you properly.”
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Question 3 of 6
3. Question
What’s the best way to display original family photos?
Correct
Trick question! It’s actually best not to display irreplaceable heirloom photos. Instead, scan them and print a copy to frame, says Lubick. Then keep the original in an acid-free box to prevent fading or damage from light exposure. If you display the picture, use acid-free matting so that the photo doesn’t touch the glass (it could stick), and pick a spot out of direct sunlight on an interior wall versus an exterior one, which tends to fluctuate more in temperature. Even then, don’t leave it there forever: Rotate them out every three months.
Incorrect
Trick question! It’s actually best not to display irreplaceable heirloom photos. Instead, scan them and print a copy to frame, says Lubick. Then keep the original in an acid-free box to prevent fading or damage from light exposure. If you display the picture, use acid-free matting so that the photo doesn’t touch the glass (it could stick), and pick a spot out of direct sunlight on an interior wall versus an exterior one, which tends to fluctuate more in temperature. Even then, don’t leave it there forever: Rotate them out every three months.
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Question 4 of 6
4. Question
What’s the best way to store jewelry?
Correct
These are all fine for stashing jewelry. But if you combine bracelets, rings, and necklaces in one container, just make sure items don’t touch one another, says Mark Mann, senior director of global jewelry manufacturing arts at the Gemological Institute of America. A tiered or multi-drawer box, for example, lets you space them out. Otherwise, softer gemstones could be cracked and metal scratched. As with photos and papers, an acid-free environment helps. “Jewelry, even gold, can tarnish with [exposure to] acid,” he says. Putting each item in a small plastic baggie helps protect pieces from air and scratches from adjacent jewelry.
Incorrect
These are all fine for stashing jewelry. But if you combine bracelets, rings, and necklaces in one container, just make sure items don’t touch one another, says Mark Mann, senior director of global jewelry manufacturing arts at the Gemological Institute of America. A tiered or multi-drawer box, for example, lets you space them out. Otherwise, softer gemstones could be cracked and metal scratched. As with photos and papers, an acid-free environment helps. “Jewelry, even gold, can tarnish with [exposure to] acid,” he says. Putting each item in a small plastic baggie helps protect pieces from air and scratches from adjacent jewelry.
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Question 5 of 6
5. Question
How should old books be shelved?
Correct
Group similarly sized tomes together—this creates even pressure—and shelve them upright. If you need to stack up bigger titles, store them flat on their sides and keep your pile to just two to three books tall. To go one step further, consider what your bookshelf is made of. Wood will off-gas, which can result in accelerating deterioration or discoloration, says Lubick. If you have a wooden bookshelf, don’t place valuable and rare books directly on them. House them in acid-free boxes on the shelves or add an acid-free barrier between the wood and your books before placing them on the shelf. The boxes will minimize light exposure and keep dust off the books.
Incorrect
Group similarly sized tomes together—this creates even pressure—and shelve them upright. If you need to stack up bigger titles, store them flat on their sides and keep your pile to just two to three books tall. To go one step further, consider what your bookshelf is made of. Wood will off-gas, which can result in accelerating deterioration or discoloration, says Lubick. If you have a wooden bookshelf, don’t place valuable and rare books directly on them. House them in acid-free boxes on the shelves or add an acid-free barrier between the wood and your books before placing them on the shelf. The boxes will minimize light exposure and keep dust off the books.
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Question 6 of 6
6. Question
What’s the best way to clean heirlooms?
Correct
For books, carefully dust with a soft brush. If something’s marring the cover, it’s time to consult a professional conservator, Lubick says.
For jewelry with precious stones, cleaning depends on the type: Turquoise, for instance, should not be soaked in water because it’s porous. In this case, use a soft bristle brush and water, and immediately blot dry. Diamonds can be soaked for 30 minutes in warm water with a small amount of dishwashing liquid, then gently brushed with a soft toothbrush to work out built-up residue. Look up the Gemological Institute of America’s guidelines for your particular gemstone.
When in doubt, ask a professional conservator how to care for your possessions. Many museums and historical societies hold events where you can bring in items and get expert advice.
Incorrect
For books, carefully dust with a soft brush. If something’s marring the cover, it’s time to consult a professional conservator, Lubick says.
For jewelry with precious stones, cleaning depends on the type: Turquoise, for instance, should not be soaked in water because it’s porous. In this case, use a soft bristle brush and water, and immediately blot dry. Diamonds can be soaked for 30 minutes in warm water with a small amount of dishwashing liquid, then gently brushed with a soft toothbrush to work out built-up residue. Look up the Gemological Institute of America’s guidelines for your particular gemstone.
When in doubt, ask a professional conservator how to care for your possessions. Many museums and historical societies hold events where you can bring in items and get expert advice.
The GEICO Insurance Agency is here to help you find the right coverage for what’s important to you. From homeowners and renters insurance to jewelry insurance and more, get a fast, free quote online or call 1-800-841-0728 to speak to an agent and find out how affordable great coverage can be. We can even help you estimate the total value of your belongings with our handy Personal Property Cost Calculator.
Kevin McCann says,
I have a safe deposit box with a major bank….how can I insure the contents of the box..
Jason hexter says,
I have some antiques some Chinese wall art sowing machines coins and other antiqueslike that i need help with all off them
Steven Merkler says,
I collect historic autographs , documents and newspapers which I would like to insure. I would like to get a quote for same. Thank you.