Doll House Insurance

1) It is a common misconception that homeowners insurance will cover a dollhouse miniatures collection. It is true that homeowners insurance will cover a collection to a certain extent. The purpose of homeowners insurance is to cover the cost of the structure of the home as well as the every day personal belongings inside. A collection can be worth well beyond one’s every day personal belongings. Consider that a homeowner’s policy will cap the amount for personal belongings to 50% of the insurance policy. Then, an additional cap is placed at 10% to cover something such as a miniature collection. Depending on the amount of homeowners insurance, this likely will not cover an entire collection.

2) Private doll house insurance is a good idea if a collection is valuable both monetarily and emotionally. It is a personal choice whether or not to insure the collection. There are some vast differences between collectible insurance and homeowners insurance. Separate collectible insurance will generally cover the replacement value of the miniatures as well as providing compensation if a piece is lost, stolen, or broken. The majority of homeowners insurance will require a deductible that may be more than an individual piece of the collection is worth.

3) It can be difficult to estimate how much coverage is needed to cover an entire dollhouse miniature collection. It is necessary to consider how much each piece would cost to replace. It is also necessary to consider future purchases that will be added to the collection. Private collectible insurance companies will often provide a certain percentage increase on a regular basis to provide for new purchases and increased value of the collection. It may be difficult to take a complete inventory of the collection, but it will be helpful in determining the replacement value.

4) The cost of doll house insurance is derived from many factors regarding the miniature collection. The first is obviously the value of the collection. Another factor includes whether or not the collectibles are being kept in a secure location such as a safe or in a home with an alarm. There are certain other considerations that may lower premium costs including the heating and cooling system in the home where the collection is located. While these do not necessarily need to be met to acquire collectible insurance, it will lower the premium.

A dollhouse miniatures collection should be insured by special collectible doll house insurance if it has monetary and sentimental value. If the cost of replacing the collection is much more than that of the cost of the premium, then it is worth the price. Imagine losing a precious miniatures collection and not having the insurance to cover the replacement. It is always better to be safe than sorry.

This article was submitted by Veronica from http://www.themagicaldollhouse.com

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