We’ve all heard the hypothetical: “If you could only save one thing in the event of a fire, what would it be,” but what if you could save almost everything? What if you didn’t have to choose?

This is where insurance comes into play. Homeowners insurance is something that reimburses you in the event of a fire, burglary, vandalism, and water damage (importantly, not flooding). Home insurance doesn’t only cover property damage or essentials, but it can also cover personal items.

I have many collections that are worth thousands of dollars. I have been collecting for years, and it is one of my favorite hobbies. From Littlest Pet Shop to video games, I have an extensive collection that I would be devastated to lose. Unfortunately, homeowners insurance can’t recover the items, but they can offer reimbursement paying for the value of the item.

In order to receive said reimbursement, you must prove your ownership of the item, or else you may not be reimbursed. Take photos of your items, catalogue their worth and create descriptions of the items. Especially, if you can find receipts or specific proof of purchase, then there is a higher likelihood that you will be reimbursed.

In the case of high end collectibles, getting your items appraised or referring to the market value can help you get compensated. Additionally, if you have a very extensive, high end collection, having a scheduled personal property endorsement allows specific items to be covered, ensuring full coverage of the items at the agreed upon value.

Knowing the worth of your items and how to protect them is important when they mean a lot to you. More information on the topic can be found at the links listed here.