Collectibles insurance protects your collection from accidental breakage, theft, flood, and other types of loss. Collections can include high-value items like artwork, Persian rugs, model trains, and coins, to name a few.
Collectibles in a home can be worth more than the home itself, or at least enough that the items need to be scheduled assets on a separate policy in order to be reimbursed for the full value. In January 2021, the rapper, Logic, paid $183,812 for a rare Pokémon card. In 2014, a 1938 copy of Action Comics #1 comic book sold for $3.21 million on eBay. Most collectibles can be insured for 1% to 2% of the piece’s value, per year. But your collection doesn’t need to be worth millions to be worth insuring.
We looked at 16 insurance companies before we settled on these seven best collectibles insurance companies. Winners stood out because of their background, third-party ratings, and other insurance offerings. Convenience for combining policies, a streamlined application process, and customer support were major factors, too. These characteristics shaped our profile of a trusted, competent, and convenient insurer that we could pass along to you with our recommendation.
BEST OVERALLAmerican Collectors Insurance
American Collectors Insurance, a company founded by passionate collectors, takes our overall best position for collectibles insurance. The company provides policy features that exceed industry standards, such as its Inflation Guard Protection, agreed value coverage, and special policy enhancements.
- Founded by collectors, for collectors
- It covers many types of specialty collections
- Broad coverage
- Inflation Guard Protection
- Automatic coverage of new additions
- Does not cover furniture, fine art, or jewelry
- No complimentary insurance products outside of collectibles
Founded by collectors in 1976, American Collectors Insurance (ACI) insures many kinds of specialty items, in all 50 states, with their Agreed Value policies, a rarity in the industry and one of the features that makes them our best overall.
ACI has an A- Excellent rating by AM Best. Standard policy coverage includes theft, fires, floods, and natural disasters. Other notable policy features include:
- Agreed Value Coverage: Insures your collection for full collector value, up to policy limits, so you know exactly what your collection is insured for at the time of loss.
- Inflation Guard Protection: If you suffer a total loss of your collection, this special protection adjusts the Agreed Value of your collectibles up to 8%.
- Automatic Coverage of New Additions: Automatically covers new purchases to your collection up to $2,000 with your 30-day notice.
- Collector’s Choice: Protects items being shipped, stored outside your residence, or used for special occasions.
- Special Policy Enhancements: Such as special coverage for collectibles you use.
ACI does not offer insurance outside of the collectibles market, so there is no opportunity to combine your coverage with a homeowner’s insurance policy, for example.
Each item has a different deductible, insurance limit, and coverage so that collectors can get a free quote quickly through a simple form on their website. Once they have a quote, policyholders can apply for insurance online. An ACI agent will reach out to request more information or issue an approval.
According to Trustpilot reviews published on ACI’s website, they handle claims quickly by phone. They often don’t even ask for an appraisal if the Agreed Value Coverage is already in place.
Clients can currently reach ACI’s customer service team by phone or email, and can submit a claim online as well.
BEST FOR ANTIQUESBHI Insurance Associates
BHI Insurance Associates has 44 insurance carriers behind them. Their brokers shop for a detailed policy that best matches your needs and will help you file your claim if you need them, making BHI our best option for insuring your antiques.
- Detailed antique insurance
- Fast email support replies (within 24 hours)
- 44 carriers from which to find the best cost and terms
- Assists you with your claim
- Other insurance products available
- BHI does not have a financial strength rating because it is an independent broker
- With so many insurance products offered, BHI is not a company solely focused on collectibles
BHI Antiques Insurance serves as your independent insurance broker, able to combine policies to make sure your antiques and other collectibles are adequately covered, making it our preferred choice. While BHI does not have a financial strength rating due to their status as a broker, they do represent companies like The Hartford, which has an A+ rating from AM Best.
BHI can cover your collection’s appraised value with a detailed inventory of all items, making them one of the safest and most comprehensive insurance options for homeowners’ valuable items. BHI will first seek a rider option to one of your existing policies to keep your costs down. If you need a separate collectibles insurance policy, plan on that costing 1% to 2% of your antiques’ appraised value. A policy rider, if it fits your needs, can cost about half as much.
BHI Insurance has been in business since the late 1960s, providing a wide variety of personal and commercial insurance types. Aside from antiques insurance, customers can also get other personal insurance products like flood, auto, homeowner’s, renter’s, boat and yacht, motorcycle, motor home, jewelry, and umbrella insurance. BHI also has a suite of commercial insurance products, too. They are headquartered in New Jersey and are ideal for New Jersey residents. They are able to serve other states for some of their programs, but they require you to call in to describe your collection size and value so they can determine eligibility.
In order to get insurance for your antiques, BHI will ask you to have all your items appraised. Next, they will have you make a list of all your antiques along with photos and their appraised value. Once you do this, one of their consultants will talk to you about the pros and cons of insuring to restore the item, versus a policy that will pay for replacements with modern reproductions.
The company places heavy emphasis on its customer support. Keeping customers well-served keeps them in business. You can reach them through email, phone, or through their online contact form. They typically answer all requests within 24 hours.
BEST FOR PERSIAN RUGSArroyo Insurance Services
Arroyo Insurance is a trusted source for insuring your Persian rugs because they insure up to the current market value and have unique policy features that allow your policy to remain in effect if your rug is on loan to someone (or if you want to insure someone else’s property).
- Insurance coverage for a variety of collectible items
- Comprehensive offering including business, personal, employee benefits, life insurance
- Backed by reliable insurance carriers
- Insures current market value
- Insure someone else’s collectibles, or your own while on loan
- Lots of documentation to provide when filing a claim
- No online quote tool
Arroyo Insurance Services writes more than $180 million in premiums annually with their curated selection of 30 A-rated AM Best companies. With rare policy features and current market value protection, Arroyo deserves your first look for Persian rug insurance.
Arroyo Insurance Services’ roots date back to 1950, although the company was officially established in 1986 in California. They currently provide various types of personal, commercial, and life insurance, plus employee benefits, across many different industries. For their private collections insurance, they are licensed in California and Arizona.
Home insurance can potentially cover the value of your Persian rug, but there is a dollar limit on the coverage amount. If your Persian rug appraises beyond your homeowner’s insurance policy limit, you will need to purchase a separate policy to insure its full value. Since Arroyo partners with highly rated carriers like Zurich and Travelers, plan on an annual premium that costs 2% of your Persian rug’s value. When you file a claim for any collectible item at Arroyo, you need to provide full documentation of it, including proof of ownership, bill of sale, appraisal, a replacement estimate, and photographs.
Arroyo Insurance Services provides 24/7 services for customers, including emergency phone numbers, internet account access, email, and call center support.
BEST FOR ARTWORKProgressive
Through Progressive Insurance, artwork owners can protect their valuable items against theft, damage, loss, and disappearance by either buying a separate policy or by combining with another Progressive policy for greater savings.
- Artwork pieces can be added to an existing home insurance policy
- Protection against a variety of events
- AM Best rating of A+ Superior
- High-valued art pieces may not fit within Progressive’s homeowner’s coverage, requiring a separate policy
- No clear policy on when Progressive requires an appraisal; handled case-by-case
Progressive allows some artwork pieces to be added to an existing home insurance policy, while more expensive artwork pieces will be more appropriately covered with a separate policy. But Progressive earns our nod for best artwork insurance thanks to the company’s complementary products and bundled savings.
The company was founded in 1937 with the goal of becoming the consumers’ and agents’ number-one choice. As a reliable company, Progressive currently upholds an AM Best rating of A+ (Superior). Under their wing, users can get several types of vehicle insurance, property, finance, personal insurance, and business insurance. They can also bundle their policies and combine two types of insurance in a single policy.
You can add a rider to your home policy that will cover the artwork pieces, but Progressive may require you to purchase a separate, specialized policy for particular art pieces based on the value of your collection and the limits of your homeowner’s policy.
Insuring artwork typically costs around 1% to 2% of the individual piece you’re insuring. This means that a $20,000 piece will cost about $200 to $400 each year to insure. However, you need to contact them for the exact cost. If you are able to schedule your artwork on your existing Progressive homeowner’s policy, you may save roughly 50% on your annual premium.
While Progressive Insurance doesn’t require an appraisal for all artwork pieces, once the company does an in-depth review of your collection, they reserve the option to require an appraisal based on the value of your artwork and home. Users can reach Progressive insurance through phone, email, or a live chat with a support agent.
BEST FOR SPORTS MEMORABILIACollectibles Insurance Services
With the most comprehensive loss coverage, including if the loss happens during travel, in a storage facility, or on display at an exhibition, Collectibles Insurance Services is the best company to turn to if you want to protect your sports memorabilia.
- Founded by collectors, for collectors
- Most comprehensive loss coverage
- No appraisal required for items under $25,000
- Collector policy deductibles as low as $0
- Offers inflation coverage
- Items have to be reported and scheduled within 30 to 90 days of acquisition
- You are responsible for maintaining your own inventory, which you must provide during a claim
If you’re looking for a company that understands the stories behind your sports memorabilia, look no further than Collectibles Insurance Services. Founded by collectors in 1966, CIS has built the most expansive loss coverage policies in the marketplace for sports memorabilia. Policies are backed by an AM Best rating of A (Excellent) in all 50 states.
Their sports memorabilia insurance has to be purchased individually, not as an addition to another policy. It provides coverage against accidental breakage, burglary, fire, flood (except in zones A & V), loss in the mail, natural disasters, theft, and other causes that aren’t specifically excluded from the policy.
Typically, CIS doesn’t require a schedule or appraisal for sports memorabilia, although items or sets valued over $25,000 would have to be scheduled. They also give the option to get insurance for collectibles kept in a public storage facility (up to $100,000).
Deductibles start at $0 for collector policies, and users can get coverage for the market value of their items and collection for any losses over $50.
Collectibles Insurance Services has a customer service center that can answer questions and handle claims by phone, and you can also send an email or get a quote from their Contact Us page.
BEST VALUEMiniCo Insurance Agency
Through MiniCo Insurance, people can protect their collectibles with insurance coverage for the full collectible value up to $1 million with competitive premiums, $0 deductibles, and no required appraisal during the application process, making them our best value choice for collectibles insurance.
- Coverage up to $1 million (higher limits also available)
- Competitive premiums and $0 deductible
- Insurance for the full value of collectibles
- Online 30-second quote tool
- Collectibles valued over $5,000 require a detailed inventory
- Appraisals required for jewelry/watch items valued over $50,000
MiniCo Insurance showers their policyholders with value by insuring collectibles at full collectible value, at higher limits than their competitors, with no deductible and no appraisal required, which is why they get the nod for best value.
Rated by AM Best with an A rating, MiniCo has been in business since 1974 to provide specialty insurance products and publications. Today, they offer specialty property and casualty insurance products for more than 100 types of collectibles in all 50 states.
Sample price quotes from MiniCo include:
- A rare book collection valued at $30,000 would carry a $0 deductible and a $150 premium.
- A $10,000 model train collection would also have a $150 annual premium.
- A $100,000 collection of rare coins would have no deductible and a $1,500 annual premium.
When a damaging event happens, policyholders should contact MiniCo’s Director of Claims Management and Loss Control Services, preferably by phone for the fastest response, or by email. An adjustment professional will contact the policyholder to gather all relevant documentation and settle the claim on mutually agreeable terms.
Users can reach MiniCo through email, phone, or by filling out a quote form on their website.
The ability to adjust an insurance policy with riders that can blend blanket coverage with itemization is why a lot of collectors turn to Chubb Insurance when they need customization.
- Customizable policies that can blend blanket coverage with some itemized pieces
- Pays market value for claims
- Several online and mobile tools for users
- Liberal appraisal requirements
- Very large company, so service won’t be personal unless you are working with your local agent
- No online quote process
Chubb’s vast array of insurance products gives them an advantage over smaller companies when you need customized collectibles coverage, potentially blending features from one policy with another.
Founded in 1882, Chubb is the world’s largest publicly traded property and casualty insurance company, and one of the oldest ones. It’s currently operating in over 54 countries and territories, insuring in all 50 states, and upholds a high AM Best rating of A++.
Chubb only requires appraisals for:
- individual jewelry pieces valued at $100,000 or more
- fine art items valued at $250,000 or more
- collectibles valued at $50,000 or more
Outside of those three parameters, the company just needs a detailed description and estimated value.
In addition to collectibles, consumers can get home, auto, travel, and liability insurance, and insurance against natural disasters, as well as customized services. Agents can also combine different policies for each client to provide comprehensive protection at market value, with potential bundled savings. If you have multiple personal insurance policies with Chubb, they will combine them all into a single monthly bill.
Whether you have a business, homeowner’s, or auto policy, Chubb gives you the option to file a claim personally or through an agent. Policyholders can file a claim 24/7 and receive a response within six hours. In addition to this, all claims and the updates that are done to them can be accessed online. Claim payments are made within 48 hours after an agreed settlement.
To connect with Chubb, applicants can search for an agent through their online tool, by phone, or at the company’s contact form. Once you’re a policyholder, you can communicate with Chubb in the online client portal.
Be careful of assuming your collectibles are covered under your homeowner’s policy. There could be several instances or types of damages that don’t cover the loss of your collection just because it resides in your home. Typically, the least expensive way to insure your collection is to cover it through a rider on your existing homeowner’s policy. But very often these riders do not cover the full market value of your collection, so read the fine print when you explore this avenue.
Collectibles insurance policies exist as standalone coverage to protect against these shortcomings of loss coverage and value. Collectibles insurance companies understand the nuances surrounding your valuables. American Collectors Insurance checks all the boxes and more. As our best overall collectibles insurance company, they offer specialized policy features that account for full collector’s value, inflation, automatic coverage additions to your collection as it grows, and more.
|Company||Why We Picked It||Best Features|
|American Collectors Insurance||Best Overall||Agreed Value Coverage; Inflation Guard Protection; Auto coverage of new additions; Collector’s Choice Program|
|BHI Insurance Associates||Best for Antiques||Backed by 44 insurers to find the best policy for you; potential to combine policies for savings|
|Arroyo Insurance Services||Best for Persian Rugs||Insure someone else’s collectibles; insure your collection while on loan|
|Progressive||Best for Artwork||Opportunity for bundled savings|
|Collectibles Insurance Services||Best for Sports Memorabilia||Comprehensive loss coverage; no appraisal required for items under $25,000; inflation coverage; $0 deductibles|
|MiniCo Insurance Agency||Best Value||Quick online quote tool; insurance up to $1 million; Competitive premiums and $0 deductible; insures full value|
|Chubb||Best Customization||Customizable policies that can blend blanket coverage with some itemized pieces; liberal appraisal requirements|
Frequently Asked Questions
What Is Collectibles Insurance?
Collectibles insurance protects prized possessions from loss events such as theft, accidental damage, and mysterious disappearances that homeowner’s coverage does not. They take into account that collections typically don’t depreciate, but rather appreciate over time. Homeowner’s insurance limits property coverage to a percentage of your home total value. Sometimes, that is not enough to replace your collection if it were ever destroyed, damaged, or stolen. And even if there is enough coverage in dollar values, the policy may limit coverage to certain collectibles such as fine art or Persian rugs, thus won’t fully cover the loss.
Collectible insurance policies may also cover your collection outside of your home. For example, you can tailor a policy to cover your items while in transit in the mail, while traveling with you, while housed in a storage facility, or while on display at an exhibit.
How Do I Insure a Collection?
To insure a collection, insurance companies will have you start by providing some proof that you possess the collection, identify specifically what is in it with a detailed inventory, and show some type of third-party valuation such as a bill of sale or appraisal.
You can do some quick research with some online quoting tools to get an estimate, then you’ll contact insurance companies or consultants to work toward a more accurate quote. Insurers will want to know a bit more about your lifestyle as it pertains to the collection so their agents can suggest certain policies that will protect you best. For example, are you a dealer who frequently travels with your baseball card collection to exhibits? You’ll need a policy that covers theft, accidental damage during transit, or missing inventory.
How Much Does Collectible Insurance Cost?
There are two primary ways to insure a collection. The less expensive way is to add an inventory schedule rider to your homeowner’s policy. Even though they may have a lower annual premium, these riders may not give you enough coverage. That’s when a separate and specialized collectible policy makes sense that schedules each asset.
Look for policies that give your collection full market value, not cash value or replacement value. Expect these policies to cost in the neighborhood of 1% to 2% of that insured value. For example, a $100,000 baseball card collection could cost roughly $2,000 per year in premium payments to insure.
How We Chose the Best Collectibles Insurance
After looking at 16 insurance companies we found these seven to be the best in their league. Some of these seven companies actually serve as brokers who are backed by 30 to 50 AM Best-rated financial institutions, giving them a deep reservoir of expertise and value from which to draw.
We chose companies that offered a broad scope of insurance products, whether it be hundreds of types of collections, or complementary insurance products that can be bundled for savings. All of the winners used the similar pricing philosophy of offering full market collector’s value, with premiums in the 1% to 2% range of the collection’s appraisal or bill of sale. As always, we favor companies that are easy to work with, and have simple online tools as well as email and phone options. From application to claims to customer support, companies that had streamlined online processes rose to the top.