Is it possible to insure definite items on their own?
I own an original authentic costume of a major popstar and want to get it insured. Is it possible to do this / how do I step about doing this?
I know you can insure stuff underneath house & contents etc but want something more specific to this item.
Thanks.
Answers:
Lloyd's of London insures things like that. It would not be on your homeowners policy, it would be separate.
This is classified beneath a homeowner/renter/condo policy as a FINE ART. To insure it, you must have an appraisal by a legit source list its estimated value. Sometimes pictures are also required. The company will consequently determine insurance cost for it based on importance and type. It then get "Scheduled" onto your policy and additional money charged. What you meditate it is worth -vs- what the appraisal says it is worth could be 2 different things and that is to say why the company always requires documentation. I don't know what more "specific" point you could possibly want other than what the article really is. I am not aware of any "Stand Alone" policies for a fine arts such as this. Good Luck
I chew over this would be considered a collectible and yes you can get a separate rider on your homeowners insurance.
you shoule be capable of have this insured on any u.k contents insurance policy but you will necessitate to specify the item.
Anything can be insured for a price.
Everything and anything can be insured contained by these days
I don't know how they do things within the UK, but in the US this is something that you could hold "scheduled" under your homeowner's policy.
More than predictable an appraisal will be needed, and based on that you and the insurance company will agree to a efficacy that you would be paid if it be to be stolen or destroyed by a covered loss.
Talk to your agent about how best to cover it.
Generally the best piece I have found is to attach a rider to your homeowner/tenant/contents insurance. If you don't fetch any insurance at all afterwards you will need to send for around and see what is out there.
Call your agent.
You want a personal inland marine rider attached to your homeowners policy. Chubb writes this coverage. It's expensive.
Yes. Most conspicuously. For example a 2 carat diamond ring worth
perhaps $15K - $25K depending on the level will no be covered by a regular homeowners policy but can be covered by a separate rider. Talk to your insurance agent. He/she will take a photograph of the item, agree on a price and transmit you what it will cost to have insured.
You can purchase a separate sponsorship on your homeowners or renter's policy called a "floater". It will own its a separate policy limit and language. Adam Fullman