Collectibles are more diverse than ever. Think rare sneakers, vintage comic books, sports memorabilia, antique firearms and couture handbags. Some recent highlights: a 1979 prototype Boba Fett action figure sold for $1.342 million, and a 1933 Double Eagle gold coin fetched $18.9 million. With such values, relying on homeowners coverage is risky.
Limitations of Homeowners Insurance
- Low per-item limits: Many policies cap collectibles at $200-$2,500.
- Exclusions: Categories like wine, comics, musical instruments or sports cards may not be covered.
- No transit protection: Losses during shipping or travel are typically excluded.
- Claim impact: Submitting a collectibles claim can trigger premium increases or non-renewal of your home policy.
"Your collections shouldn't be an afterthought to a home policy. At WAX, we engineered a solution that speaks directly to collectors, preserving what matters most to you without compromising on protection or convenience." says Steven Bass, COO.
WAX Collect Policy Advantages
- High limits and low or zero deductibles.
- Automatic coverage for newly purchased items, up to 25% of your class limit.
- Agreed-value settlements up to 150% of scheduled values.
- Claims filed under WAX have no effect on homeowners insurance.
- One policy can cover diverse categories, from coins and wine to couture and comics.
Real-World Case Study
A long-time client had a mixed collection of comics, designer handbags and antique firearms. A humidity control failure in their storage room led to mould growth that damaged vintage comics and leather goods. With WAX, they received agreed-value compensation and funds to restore the comics. Because their collectibles were insured separately, their homeowners insurer never learned of the claim. Preserving their home coverage and avoiding a premium hike.
Frequently Asked Questions
Q: Will filing a claim with WAX raise my homeowners premiums? A: No. WAX claims are separate and do not affect home insurance.
Q: Can I insure my wine and coins under the same policy? A: Yes. WAX's mixed-collection policies make it easy to bundle categories.
Ready to protect your collection?
Collectors can request a quote in minutes through WAX's digital platform, and brokers can contact us to discuss multi‑asset coverage. WAX is your trusted partner for safeguarding every facet of your collection.
