We know, it really does sound better on vinyl! But what doesn’t sound good is damage to your precious collection. You’ve spent years finding those rare 45s and 78s, and they’re valuable in more ways than just sentimental. If you have a vinyl record collection worth protecting, make sure you follow this advice on how to protect and insure it.
Check your homeowners insurance
Sure, when you took out your insurance, you only had a few singles and one rare album, but that’s changed now. Your homeowners insurance protects your belongings against theft or damage, but what most people are unaware of is standard insurance only protects collections of any kind up to $200. This means you’re going to have to find another way to protect that copy of Prince’s The Black Album that’s worth quite a lot more.
Schedule an endorsement
This is usually the cheaper of the two options. This will give you added coverage specific to your collection, and it means you get to stay with the same carrier. This could be handy if you need to file a claim for the collection and other contents in your home. However, depending on your collection, it might not go as far as you need it to.
Buy a personal articles floater
This means taking out a new policy with a company that has specialized experience in what you want to insure. Sure, it will come at a higher cost, but you’re paying for the expertise.
Get an appraisal
No matter which option you choose, you should have an appraisal conducted of your collection as well as creating your own inventory with notes and pictures.
If you don’t want to be singing a sad song, get in touch with us for more information on policies and the right one for your collection.