Insuring valuable furniture

Antique and valuable furniture has the potential to be a good investment and can carry a lot of sentimental value, so keeping in top condition is crucial. Television programs like Bargain Hunt, Cash In The Attic, Flog It! and the long-running `Antiques Road Show` have made antiques shopping and selling more mainstream and it`s a big part of lots people`s lives.

Therefore, it`s highly advisable to get antique pieces of furniture that you have covered for accidental damage with a good contents insurance policy.

Home insurance is split into two categories: buildings and contents. Buildings insurance covers the structure of your home, plus outbuildings, windows, fixtures and fittings. Contents insurance, on the other hand, will provide cover for the items in your home. You should always provide an accurate sum to your insurer, so that in the event of having to make a claim you`re not left out of pocket. To achieve this, it`s best to go through your home on a room-by-room basis, making a note of the value of the items that you`re planning on insuring. Doing this will also make it quicker and easier should you need to make a claim.

The majority of contents insurance policies offer cover up to a certain amount, but not over. Therefore, you should get your antique furniture valued and perhaps think about taking out an additional insurance policy to cover a single piece of furniture if it is of particularly high value.

When it comes to contents insurance, there are two routes to go down: indemnity insurance and new-for-old cover.

Indemnity insurance will pay for the cost of the item, minus deprecation since when it was bought. New-for-old insurance on the other hand, will provide a like-for-like replacement, or in the case of unique items, its total cost. When it comes to antique furniture, it`s essential that you have your items looked at by an expert regularly to achieve a valuation, so you know that the sum that you are insuring for is accurate.

However, is many cases repair is actually a better option than replacement, particularly if you are rather attached to a piece of furniture. Always make sure that the service is carried out by a reputable firm: you could ask around friends, colleagues or relatives, or turn to the internet for your search. It`s also a good idea to ask to see some examples of the work of the company or tradesman that you call upon so you get a good idea of their abilities.

To find a good deal, it`s a good idea to compare home insurance online, or at least start your search this way. Comparison sites have made finding the more attractively-priced deals much easier than in previous year with consumers now having the ability to browse offers from many insurance companies by just entering a few details. It`s crucial to compare the features of contents insurance policies as well as the price, as the cheapest deal may not necessarily offer the cover you require.