An excess personal collection policy provides additional insurance coverage for high-value collectibles—like art, jewelry, wine, or rare memorabilia—beyond what standard homeowners or renters policies offer. It’s designed for collectors who want full protection against loss, damage, or theft.

🖼️ What It Covers

This policy supplements your primary insurance and typically includes:

• Scheduled item coverage: For individually appraised items (e.g., a $50,000 painting or $10,000 watch).
• Blanket coverage: For groups of items under a single limit (e.g., a wine cellar valued at $100,000).
• Worldwide protection: Covers items whether they’re at home, in transit, or on loan to galleries.
• All-risk coverage: Protects against nearly all types of loss unless specifically excluded (e.g., fire, theft, accidental breakage).

🚫 What’s Not Covered

• Wear and tear or gradual deterioration
• Damage from war or nuclear hazards
• Fraudulent or misrepresented appraisals
• Items not properly documented or appraised

💡 Real-Life Examples

1. Art Collector with a Growing Portfolio

A client owns several paintings valued at $500,000. Their homeowners policy only covers $10,000 for fine art. They purchase an excess personal collection policy with scheduled coverage for each piece. When a fire damages two paintings worth $150,000, the policy pays the full amount—no deductible.

2. Luxury Watch Enthusiast

A watch collector owns 12 timepieces worth $250,000. One is stolen while traveling abroad. Their excess policy includes worldwide coverage and reimburses the full appraised value of the stolen watch.

3. Wine Collector

A rare wine collection valued at $100,000 is damaged due to a power outage that disables climate control. The excess policy covers spoilage due to mechanical failure, reimbursing the collector for the loss.

💰 Cost and Requirements

• Premiums vary based on item type, value, location, and security measures.
• Appraisals are often required for scheduled items.
• Documentation (photos, receipts, certificates) is essential.

🛡️ Why It Matters

Standard homeowners policies often cap coverage for collectibles at $1,000–$2,500 per category. If you own high-value items, an excess personal collection policy ensures:

• Full replacement value
• No depreciation
• Minimal or no deductible
• Peace of mind for traveling, lending, or storing items

This type of policy is ideal for clients who value precision, protection, and personalization—especially those building a legacy or investing in tangible assets.

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