By definition, a valuable object is an item with a value greater than €500 in replacement value when new, or failing that, at the average price for an identical item. The list of the latter is not exhaustive.
Precious stones, luxury bags, old books or even period paintings and furniture are objects of great value, which are reminders of priceless memories and emotions. What we can estimate, however, is their monetary value.
It is essential to protect your valuables in the event of theft, loss or damage. Replacing an expensive piece of jewellery or a valuable piece of art can be a significant financial burden without insurance coverage. Having the right insurance coverage provides some protection against repair or replacement costs, preventing or alleviating unexpected and sometimes excessive expenses.
Ensure your peace of mind!
Owning valuable assets can be a source of worry, especially when it comes to ensuring their security and protection. Ensuring that you have sufficient insurance coverage will give you peace of mind, as you will know that your assets are protected against various potential risks.
What are the legal or contractual obligations to be respected?
In some cases, insurance for valuables may be a legal or contractual obligation. For example, renting artwork for an exhibition usually includes insurance for risks related to the transport and exhibition of the artwork.
To protect your valuables, start with an appraisal by an expert, such as an auctioneer, to determine their true value. Wine bottles, stamp collections, rare coins... We recommend documenting your item with:
- detailed photos
- a complete description
- a certificate of authenticity
- proof of purchase.
This document is essential to prove the value of the item during a claim.
What is the difference between specific insurance and home insurance?
It is important to understand the difference between special valuables insurance and home insurance with a specific option. Special insurance is a policy add-on that covers the cost of items beyond the basic coverage and the cost of replacing those items if something happens to them.
In the case of insurance offered by Baloise, if you wish to cover your valuables, you will need to add an optional "precious objects / jewellery or valuable/art object pack", depending on the total amount of the goods to be insured. This option will be added to your home insurance contract.
What is the declaration procedure to follow?
If you want to entrust your valuables to an insurance company, you must provide a complete inventory (an appraisal, photos or even a certificate of authenticity). To facilitate the claim if you suffer a loss, damage, or face a disaster following water damage for example, you must immediately inform your insurer and explain the situation in detail. Also remember to provide all supporting documents for your valuables.
Always check your valuables and insurance status. Some item categories undergo a change in prices over time. This causes variation not only the actual value but also the unit value of high-end items.
Renewing the estimate of the sum of these items is strongly recommended. To maintain optimal protection, check your insurance contract at least once a year or with each new purchase. You must take into account not only the guarantee of your goods, but also the general conditions of your insurance contract.
At Baloise, we understand the importance of protecting your personal treasures. Insuring your valuables is an essential step to protect both their use value and their emotional value.
The option to add to your home insurance offers you financial protection in the event of theft, loss or damage.
By following key steps such as professional assessment, accurate documentation, and choosing the right package to add to your insurance policy, you can ensure optimal coverage for your most valuable assets. Remember to regularly reassess your coverage to ensure it remains adequate over time.
Contact your agent to review your insurance contract.