How to insure high-value items: art, collectibles, and other valuables
Do you have fine art, collectibles, or other valuables? Make sure you have the right coverage in the event of a loss.
Key Takeaways
- Standard homeowners, covers valuables like jewelry and art, but typically only up to a set sublimit, which may leave expensive items underinsured.
- High-value items such as fine art, jewelry, furs, and collectibles often require a scheduled endorsement or a separate policy for complete protection.
- A professional appraisal, which is usually required to be completed within the last five years, is needed to insure valuables at their correct value.
- Creating a detailed inventory with photos and original receipts is the essential first step to insuring your valuables.
- If you travel with high-value items, confirm whether your coverage extends beyond the United States.
What are high-value items?
High-value items are personal property that holds significant monetary or sentimental worth. High-value items may require more insurance protection than a standard policy provides.
If you own any of the following, you may need additional coverage:
- Fine art and paintings
- Jewelry (rings, necklaces, bracelets, luxury watches)
- Furs and high-end clothing
- Silverware and antiques
- Musical instruments
- Coin, stamp, or other collections
- Expensive camera or photography equipment
- Sports memorabilia and trading cards
- Wine or spirits collections
If any of these apply to you, it's important to understand how your current policy covers them and where the gaps might be.
Does homeowners insurance cover high-value items?
If you have homeowners, renters, or condo insurance, you may have some coverage for valuables. However, these items are typically only covered up to a specific dollar amount (known as a sublimit) as stated in your policy. Coverage may also be restricted to certain perils only, such as theft or fire.
For example: a standard homeowners policy may only cover $1,500 worth of jewelry. If your engagement ring is appraised at $10,000, that gap in coverage could be significant.
Understanding your policy's sublimits and knowing when to add high-value item insurance is one of the most important steps you can take to protect your most prized possessions.
3 Steps to insure fine art and other valuables
Getting the right coverage for valuables doesn't have to be complicated. Follow these steps to make sure your high-value items are properly protected.
Step 1: Take an inventory
The first step to making sure your valuables are covered is to make a list. This should include a detailed inventory of your property. You should also:
- Photograph each item, including any unique identifying markings or features
- Keep original receipts of existing and newly acquired items
- Note the make, model, serial number, or other identifying details where applicable
- Store your inventory records somewhere secure, such as a cloud backup or fireproof safe
- Update your inventory regularly whenever you purchase or receive new valuables
Step 2: Get a professional appraisal
Professional appraisals establish the value of your fine art, jewelry, etc. Appraisals also ensure you buy the right amount of insurance so in the event of a loss, you'll have coverage. Most insurance companies want to see up-to-date appraisals, typically completed within the last 5 years.
If you want higher coverage, more than what the item is worth, there are a few things to keep in mind. Most insurance companies only insure items according to the stated value on your policy's schedule - and not higher. The stated value is typically based off the appraisal.
However, some companies may allow you to update the value of certain items that have increased in value over time by 10%. This may require getting a new appraisal. If you believe you have an item worth more than the appraised value, discuss options with your insurance agent.
Step 3: Consult your insurance provider
Coverage for fine art and other high-value items can vary between insurance companies. Some insurers offer a specific sublimit for unique or high-value items, while others may require adding an endorsement to your existing policy or writing an entirely separate policy.
When you speak with your insurer or agent, ask about:
- Your current policy's sublimits for jewelry, art, furs, and collectibles
- Whether your coverage is based on actual cash value or replacement cost
- Coverage when traveling with valuables outside the U.S.
- Whether you qualify for a scheduled personal property endorsement
Step 4: Ask whether breakage is covered
If you're concerned about protecting fine art or fragile collectibles against accidental breakage, ask your insurance provider directly. Not all standard policies include breakage coverage, but some insurers do offer fine art insurance that covers it. Don't assume your policy covers breakage — always confirm in writing.
You may need specialized coverage for certain items
Certain high-value items may exceed the sublimits of standard policies or require coverage for risks not included in a typical policy, such as accidental damage or mysterious disappearance.
The two most common options for insuring valuables beyond standard coverage are:
- Scheduled personal property endorsement - Sometimes called a floater or rider, it adds individual high-value items to your existing homeowners, renters, or condo policy. Each item is listed (or "scheduled") separately, along with its appraised value.
- Separate valuable items policy - For people with extensive or high-value collections, a standalone valuable items policy can offer broader and more flexible protection than an endorsement alone. These policies can often be tailored to specific collection types, such as a fine art insurance policy or jewelry insurance.
Choose the right policy for your valuables
Insuring high-value items is not one-size-fits-all. The right coverage depends on what you own, how much it's worth, and how it's used or stored. Whether you need a scheduled endorsement or a separate policy, speaking with a knowledgeable insurance representative is the best way to make sure your possessions are fully protected.
Ready to explore your options for insuring valuables? Call Liberty Mutual at 800-295-2723 to speak with a representative who can help you find the right valuable items coverage.
Frequently asked questions about insuring high-value items
What items typically require specialized coverage?
Items that commonly require high-value item insurance beyond standard policy sublimits include jewelry, fine art, furs, antiques, silverware, musical instruments, coin or stamp collections, and expensive camera equipment. If you own any of these, contact your insurance provider to confirm whether your current policy provides adequate coverage.
Does homeowners insurance cover jewelry?
Yes, homeowners insurance typically covers jewelry but only up to a sublimit, which is often between $1,000 and $2,500. To fully protect expensive jewelry like an engagement ring or a family heirloom, you may need to add a scheduled personal property endorsement or a standalone jewelry insurance policy.
How do I insure valuable jewelry?
To insure valuable jewelry, start by getting a professional appraisal to establish the item's current market value. Then, contact your insurance provider to find out whether your existing policy adequately covers it or whether you need to add a scheduled endorsement. Most insurers require an appraisal completed within the last five years before scheduling an item.
Written by Kathryn Messer
Kathryn Messer is an insurance and financial services copywriter with more than 25 years of hands on industry experience. A fully licensed P&C and Life & Health broker, she has worked as an independent agency owner, commercial risk manager, and financial and investment adviser. She holds CIC, CPCU, CFP, and LUTC designations. Her writing is grounded in real world knowledge of insurance operations, regulatory complexity, P&C claims, insurance technology, and sales—giving clients a true subject matter expert with no learning curve.
Edited by Jess Feldman
Jess Feldman is an Editor of Liberty Mutual Resources, the company's consumer-focused insurance hub. She brings more than a decade of experience in content strategy, editorial management, and instructional communication, with a focus on translating complex, YMYL (Your Money or Your Life) topics into clear, accurate, and actionable resources for consumers. Prior to Liberty Mutual, she served as Content Manager at Course Report and Editor at ParksByNature Network. She holds an M.F.A. in Writing and a B.A. in English from the University of New Hampshire.