Does My Home Insurance Cover Off-Site Collections?

If you store belongings off-site, such as in a storage unit, your homeowner’s or renter’s insurance will usually cover those items even though they are stored away from your main residence. However, if the belongings are a part of a collection, such as wine, jewelry, or another high-value category that could be expensive to replace, your insurance might not cover those items unless you arrange for special riders to be added to your policy. It’s essential that you contact an insurance company such as the Zapp Insurance Agency, in areas like Ballston Spa, NY, to discuss additional coverage.

Selective Coverage

Home insurance tends to cover regular items stored off-site because they still belong to you; they’re merely housed somewhere else temporarily. Basic home insurance often won’t cover expensive collections, even if they’re stored in your home, because the cost of replacing them could simply be too much for the basic policy to handle. Your insurance might cover a nominal amount — but it wouldn’t reimburse you for the full value of the rare items in the collection.

In certain cases, the insurance wouldn’t cover particular problems associated with the type of collection. For example, if you have a wine collection stored in a wine locker, and the wine was stolen, you might have coverage for at least part of the replacement cost. Now, If the wine turned bad because of poor bottling or storage conditions, basic home insurance likely wouldn’t cover that. In order to fully cover collections, especially those stored off-site, you need to add a rider to your policy.

Call  Zapp Insurance Agency in Ballston Spa, NY to see how much these riders would cost. We also welcome visits to our office and have an online rating tool that can help provide you with quotes for your home insurance policies. Give our agents a call today!