Family heirlooms aren’t just objects; they can carry history and have sentimental value. Whether it’s a centuries-old painting, a ruby brooch passed down through generations, or a signed first edition, these treasures require more than standard contents cover.
Why Heirlooms Are Often Under-Insured
- Standard limits are too low — General contents policies often cap coverage amounts for “valuables” like art, jewellery, or antiques.
- Under-valuation risk — Because market values change, an item insured years ago might now be worth considerably more.
- Exclusions on damage or loss — Some policies exclude accidental damage, mysterious disappearance, or worldwide cover for valuable objects.
- Provenance & authenticity issues — Claims may be contested if ownership, documentation, or valuation are unclear.
Steps to Properly Insure Heirlooms
1. Get an up-to-date professional valuation
Use a qualified appraiser (for art, antiques, jewellery) at least every 3–5 years. Maintain copies of valuation certificates and appraiser credentials.
2. Photograph and document thoroughly
- High-resolution images from multiple angles
- Close-ups of hallmarks, signatures, serial numbers
- Write a description (date, provenance, materials, history)
- Securely store digital and physical copies (off-site backup)
3. Schedule the item individually on policy
Rather than including these items under general cover, list heirlooms individually under the “valuables and art” section of the schedule, with their valuation and details. This ensures the items are adequately considered and insured sufficiently.
4. Choose broader cover options
Ensure your cover includes:
- Accidental damage — scratches, chips, breakage
- Worldwide cover — when pieces travel for exhibitions or use
- Loss beyond theft — e.g. disappearance, mysterious loss
- Temporary removal cover — if you move or loan them out
5. Use secure storage & security measures
- Display in locked, strong cabinets with shatterproof glass
- Use monitored alarm systems and motion detectors
- For high-risk periods (e.g. renovation, travel), place heirlooms in a bank vault or insured secure storage
Don’t leave your family’s legacy to chance. Get in touch with Hayes Parsons’ Private Client team. We’ll help you preserve what matters most with confidence.
