This thread brings up a good point, and i have a question. Does anyone know of a good insurance company that will insure high-end knives at a reasonable premium with low hassle?
Very good question.
Some people may say, "my homeowner's insurance policies covers contents upto $250,000. That's all I need." Ah, but you forget that that $250,000 figure is an overall figure. Most policies have lower limits on specific types of items. One specific type of property that often has a lower limit is, "antiques and collectibles." On a $250,000 policy, you might find the antiques and collectibles limit at just $5000. You may still think that that's alright. But don't forget that you probably own other property that is considered antique or collectible. The insurance company puts anything into this category that has a value beyond its replacement with a similar object that comes from its age, condition, origin, etc. That's pretty broad.
You'll find other limits on your home-owners policy too. Firearms are often subject to a specific limit. Since firearms are commonly stolen and since they're also commonly involved in insurance fraud (sell the gun for cash at a gun show and then claim it as stolen and collect the insurance), many companies now have very low limits on firearms. Even on a $250,000 policy, you may find a $1000 limit on firearms. One nice pistol can be worth more than that.
Jewlery is usually subject to a special limit too.
The cheapest way to get insurance for guns, jewlery, knives, and so forth is usually just to buy it from your homeowner's or renters insurnace carrier as a rider onto that policy. Ask your insurance agent for details.
Purchasing a qualified safe or storing the majority of your collection in a bank deposit box will lower those premiums even further.
