Valuable Collections Many of us have jewelry or fine arts and high-end collectables including gun collections, etc. Certain homeowner’s policies may provide some coverage but not nearly enough. It is a good idea to schedule your valuable items on your homeowner’s policy. The best way to do this is with current appraisals and it is recommended that you obtain appraisals every few years as outdated appraisals may limit your ability to be fully compensated. For instance, the price of gold during the past several years has been on the increase and your jewelry may be more valuable than you are aware.Keep records of your inventory with descriptions, images and current values. Also remember to contact your insurance agency with any new items you acquire and then look for policy confirmation that the items have been added to your policy. The best way to insure fine art collections, etc., is with a Private Collections Insurance Policy. These policies contain specific language and offer broader terms and conditions. Did you know the leading cause of loss for art collections is not theft, but rather accidental breakage. There could be a mishap with the way the art is handled, cleaned or stored.If you are passionate about your collections and want to be financially safeguarded in the event of damage, theft or lost, contact your insurance carrier and have a discussion on how to be best protected.