Insurance for Your Book Collection

A book can be more than just a faded leather cover and the crisp pages in between. It can be considered a valuable collectible that should be preserved and admired. If you have a book collection, the following will discuss some of your insurance options along with some information about how to preserve and protect your collection.

Insurance Options for Your Book Collection

Owning a collection of books can be a rewarding hobby. With rare and expensive books, you may not want to depend on your standard homeowner’s or renter’s coverage to insure them. Another option is a valuable items floater policy, either as a standalone policy or as an endorsement/addition to your homeowner’s or renter’s policy. Having a separate valuables policy may be a more appropriate option for you.

Why Should My Books Be Insured with a Valuable Items Floater?

You may want to consider insuring your book collection with a valuable items floater policy.   A valuables and collectibles policy will typically provide more comprehensive coverage for your valuable possessions than what is usually available under a standard homeowners or renters policy.

Appraise Your Collection

Before you insure your books, you may want to have your collection professionally appraised. Having your books appraised will give you an accurate estimate of the amount of coverage you may want to consider. An appraisal may not only educate you, but it may be a requirement that some insurance companies require. Along with an appraisal, an inventory of your collection may also be a requirement from the insurance company.

Protecting Your Book Collection

With high-end valuables (such as your books in your home), having methods of protection in place can be a crucial component to keeping your collection safe. Certain security methods may potentially help you save on your premiums by possibly qualifying you for a discount on your homeowner’s insurance. The following measures can help protect your book collection.

• Keep books away from direct light – man-made or natural light can cause covers or print to fade.
• Contemplate climate controls – books should be kept in stable conditions and in low humidity levels.
• Separate Books – Valuable books should be stored and shelved away from others. Also, rare books shouldn’t be handled frequently as they tend to be older and more fragile.

Taking an Inventory of Your Collection

An inventory of your books can help maintain your collection and serve as valuable documentation. Noting details like the author, title, condition, and any receipts make keeping track of your collection that much easier. Having a documented inventory, in the event of a large-scale loss, may help to reimburse you. The inventory will provide your insurance carrier with an accurate list of items that were damaged. The following tips can be used to help you take your inventory.

• When starting your inventory of your collection, it is recommended to start with your most recent purchases and then continue documenting items from greatest value.
• Take pictures and videos of your books. Doing so allows you to rewatch your items at a later time and see details you might have missed before. Make sure when taking pictures or videos of your books you are mindful of the lighting and flash as it could damage your collection.
• Include details such as author, title, edition, condition, purchase date, purchase price, and any other important information.
• Creating a list or spreadsheet with the entirety of your belongings can help organize what you have. A digital copy is recommended in the event you may need to recover the list.
• Update your inventory list yearly and after substantial purchases.

Insure Your Valuables and Collectibles

At Cross Private Client Insurance, our agency understands the unique risks that come with valuable collections. We work with top insurance carriers to provide insurance options for our clients. Reach out to our team today if you have insurance questions.

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This article is for general informational purposes only and is not to be relied upon or used for any particular purpose. Cross Insurance shall not be held responsible in any way for, and specifically disclaims any liability arising out of or in any way connected to, reliance on or use of any of the information contained in this article. The information contained or referenced in this article is not intended to constitute and should not be considered legal, insurance, accounting or other professional advice, nor shall it serve as a substitute for the recipient obtaining such advice. The views expressed in this article are that of its author and do not necessarily represent the views of Cross Financial Corp. and its subsidiaries and affiliates (“Cross Insurance”) or Cross Insurance’s management or shareholders.