Appreciation protection safeguards against this exact type of market price inflation that exceeds the insured value of your collection at the time of a covered loss. It’s a collector-focused benefit of Hodinkee Insurance, designed to provide peace of mind in a scenario where the insured value of your collection hasn’t been adjusted before a loss.
In other words, if the market value of a piece of jewelry or watch insured under your policy increases before a loss, our underwriting partner, Chubb – one of the world leaders in property and valuables insurance – will pay the market value before the loss, up to 150 percent of your watch or jewelry’s insured value, up to the policy limit. In other words, payment will never exceed the total coverage amount for your collection. For example, if you have three pieces of jewelry on your policy, each valued at $10,000, and the value of one jewelry item at the time of a covered loss had increased to $13,000, you would still be below the policy limit (of $30,000).
Have additional questions about valuations, appraisals, or your collection? We’re here to help, just send us an email at [email protected]. If you’re ready to start a policy, you can get a quote for your collection in just a few minutes. Click here to learn more.