Do you have an expensive hobby? From investing in expensive collectibles or equipment, to collecting rare coins and antiques, to collecting old cars,  your hobby may require extra protection.

If your home houses a hobby that could be vulnerable to loss, it’s important to evaluate what insurance coverage may be necessary.

The limits on your homeowner’s or renter’s insurance policies may be too low, or the type of coverage might not be appropriate for your specific needs, which means that it likely isn’t sufficient enough to cover your hobby.

It is important to consider the following when ensuring your hobby is covered:

  • Value- Are your items covered on your homeowner’s coverage limits, or do they push you over the limit? It is likely you will have to increase your limits, or possibly have to add a policy.
  • Loss- Be sure to consider the ways you could lose your collectibles. Whether it be due to theft, vandalism, fire, etc, it is critical to ensure your current policies cover all the potential types of loss, or you may need to expand your coverage.
  • Risks- Are there any risks that your hobby may pose? If your hobby requires the use of any equipment that could be dangerous to others, then you may need liability insurance.
  • Business- Is your hobby also your business? If you sell items from your home, then you may need business insurance.
  • Unique Risks- Do you travel to trade shows with your items? You may need travel insurance or additional liability insurance, especially if your hobby involves a single high-ticket item.

Your hobby can be a financial investment, so be sure you insure it properly. Contact Brazelton Insurance Group for more information and help with any and all of your insurance needs.