Insuring valuable possessions is only partially — or even inadequately — covered by a standard home insurance policy. Standard policies rarely provide adequate coverage for fine art, watches, bags or jewellery — and the consequences of being underinsured can be devastating.

Why standard insurance isn't enough

Most homeowner's policies have sub-limits for valuables — often €2,000–5,000 in total for jewellery, art, or collectibles. A single fine art piece or vintage watch can be worth multiples of that.

Beyond coverage limits, standard policies:

  • May not cover market appreciation (your €10,000 painting that's now worth €40,000)
  • Often exclude restoration and conservation costs
  • May require formal appraisals you don't have
  • May not cover items during transport or at exhibitions

Key insurance concepts for collectors

Agreed value vs. actual cash value

Agreed value policies pay a pre-agreed amount if an item is lost or destroyed. Actual cash value policies may depreciate the item. For art and collectibles, always seek agreed value coverage.

Blanket vs. scheduled coverage

Blanket coverage covers a category (e.g., "all jewellery up to €X"). Scheduled coverage covers specifically listed items with individual valuations. Scheduled coverage is generally better for high-value items.

Valuation requirements

Most insurers require professional appraisals for items above certain thresholds — typically €5,000–10,000. Appraisals should be updated every 3-5 years to reflect market changes.

Asset categories and specific considerations

Fine Art

  • Require certified appraisals from accredited appraisers (e.g., ASA, AAA, RICS)
  • Ensure coverage includes restoration costs
  • Verify coverage during loans to galleries and transit

Watches, jewellery and bags

  • Always schedule high-value pieces individually
  • Build up a record as you make purchases
  • Ensure worldwide coverage if you travel frequently

How Objais helps

Objais provides instant, non-binding estimates to help you get a first idea of the cost of insurance. If this estimate interests you, we'll help you find a suitable solution with an insurer. Our partner network connects you directly with specialist insurers and certified appraisers around the world.

Get started with a free AI valuation — download the app.

Legal disclaimer: AI-generated valuations and market estimates provided by Objais are for informational and portfolio-tracking purposes only. They do not constitute professional financial advice, certified appraisals, or insurance valuations. For insurance claims, high-value transactions, estate planning, or legal proceedings, always consult a certified professional appraiser or financial adviser. Past market performance does not guarantee future results.