With the high cost of designer clothes, shoes and handbags, it is imperative that you have the right insurance coverage for your expensive items.
It is quite common for people to insure their jewelry and high-ticket electronics, but many forget about their designer collection. If you have a collection of clothes, shoes, bags and accessories that are worth thousands of dollars, do not overlook coverage that will protect you against theft and burglary, fire or accidental damage.
Designer handbags are very popular items that are targeted by thieves. They can be worth thousands of dollars and the value of the contents in the bag can be quite significant. You may have expensive gadgets such as smart phones, digital cameras or music players. Think of the credit cards, cash and other valuable items that are in your bag. It can be an agonizing and stressful task to cancel credit cards, order new identification, get locks replaced and keys made. If you have handbag coverage as a rider to your Columbus home insurance policy, it will make your life a little bit easier and bring much needed peace of mind should your bag get stolen.
If you have a collection of couture and designer clothing, it should be insured. These items are of significant worth and are finally recognized as such by auction houses and dealers. Some collections transcend their period, resulting in an increase in value. Keep details of your purchases; if your items get damaged and need to be repaired, you will be reimbursed for the cost. Your couture collection should be appraised to determine the value of insurance to place on it. Because of the higher value of these designer and couture collections, expect to pay a higher premium than on a regular home contents policy. The coverage will typically be added as a rider to your regular policy.
Another option to consider for coverage of your collections is to purchase high-net-worth insurance. These policies are directed at high-net-worth individuals who own yachts, expensive homes, antiques, art collections, airplanes and so on. Such an insurance policy will have much higher premiums that regular home insurance, even with coverage riders for a few expensive items.