James Audubon’s original copy of “Birds of America” was reportedly sold in 2000 for a staggering $8.8 million and in 1996 Sotheby’s reportedly auctioned a first edition of Charles Dickens’ “A Christmas Carol” for $160,000.00. Although these extremely rare books were not kept on bookshelves in homes, some collectors do keep valuable first editions in their homes. Should you enjoy book collecting, you may want to take a look at your home library, note any first editions or other rare books. Have them appraised, and contact your home insurance RI agent to find out the level of financial protection needed for your more valuable books.
Should you find that you have more money tied up in your book collection than you realized, it is unlikely that your standard homeowner’s insurance policy alone offers enough financial protection for your books. You may want to discuss with your agent the possibility of obtaining a collectables rider to your homeowner’s insurance policy to cover the replacement value of the books in your collection. Another option would be to purchase a completely separate collectables insurance policy.
Either way, the point is to make sure your book collection is financially protected with insurance that helps cover the replacement value of the books. The best way to make arrangements for insuring your books is to contact your home insurance RI agent. Have ready your written appraisals and photos of the books for which you want special financial protection, for your agent’s review.