A collection is more than the sum of its individual pieces: with a collection the series determines the value, and that is exactly what makes it virtually uninsurable on an ordinary home contents policy.
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In brief
On home contents insurance a sub-limitapplies to collections: an upper limit for the whole category together, regardless of what is actually there. With art, coins, stamps, books, wine, models or vintage instruments the real value rarely bears comparison with it. A separate collection policy works the other way round: there is a specification underneath, and that specification is what is insured.
The value of a collection is also tied to the object and cannot be derived from a purchase invoice. Origin, condition, edition size, provenance and whether a piece is still complete together determine what it is worth. That is why the collection policy works with a valuation within the meaning of Article 7:960 of the Dutch Civil Code: once a loss occurs, the value established is no longer open to question, provided the valuation is still valid.
Where a single valuable item is mainly about loss while out and about, a collection is about the series: one missing piece can depress the value of the rest. That calls for an express series clause.
The structure of the cover in three parts, with an overview per situation below.
Basic
Extended cover
The perils that are specifically named.
Fire, smoke and water
Theft after forced entry
Storm and lightning strike
Complete
Comprehensive
Also sudden damage from outside.
Falls and knocks
Your own mishap
A stronger evidential position
Insured separately
Valuables
Items that exceed the sub-limits.
Jewellery and watches
Art and collections
Covered away from home as well
What is covered
Situation
Extended
Comprehensive
Fire, smoke and water damage in the home
Yes
Yes
Theft after forced entry
Yes
Yes
Knocks and falls at home
No
Yes
Loss or theft away from home
Provided that
Provided that
Damage during transport, repair or exhibition
Provided that
Provided that
Wear, shrinkage, damp and insect damage
No
No
A home contents policy has sub-limits: for jewellery, audiovisual equipment and collections a lower limit applies than for the rest of the contents. If your items exceed that, you insure them separately on a valuables policy, usually on the basis of a valuation (7:960 DCC). Underinsurance leads to a proportionately lower payout.
This overview is general in nature and is not personal advice. What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) of the insurer; you receive both before you take out cover. Taking out cover without advice? Then read what execution only means for you.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
The series clause is what sets a collection apart from a single item
If one piece from a complete series disappears or is damaged, the value of what remains often falls further than the damaged piece itself was worth. Without an express provision the insurer only pays for that one item. Have it written in that damage to part of a series also brings payment for the loss in value of the whole, or that the insurer takes over the complete series at the valued amount. That must be on the policy in advance.
You must report additions, otherwise you outgrow the cover
A collection expands; the policy does not do so by itself. New purchases fall outside the specification until you declare them, and many policies allow a notification period of a few weeks with temporary provisional cover up to a limited amount. Keep a running list with the date, purchase price, photograph and provenance, and send it in periodically. Without those records you cannot show what was there after a fire.
Away from its permanent location the cover changes
If you take pieces to a fair, an exhibition, an auction or a restorer, the collection leaves the address on which the premium was calculated. Many policies cover that only up to a small part of the sum insured, or only if the transport was reported in advance. Storage with a third party, for example during building work, also falls outside. Arrange in writing for every move what applies before you pack anything.
What a collection policy does not pay for
Not covered are gradual effects: fading from light, warping from dry air, corrosion, mould and the decay of paper or cork. Inherent defect and the error of a restorer you engaged yourself also fall outside the cover, as does a fall in value because the market for your category collapses. If a piece disappears with no identifiable event, that is unexplained disappearance and not an insured event.
What does your premium depend on?
Total valued amount — The established value of the specified pieces is the basis of calculation for the premium.
Nature of the collection — Wine, paper, glass and metal each react differently to damp, light, temperature and vibration.
Storage conditions — Climate control, UV-filtering glazing and a separate fire compartment demonstrably lower the risk of damage.
Security at the address — Burglary resistance grade, alarm response and a safe or locked display case weigh heavily in categories that are easy to sell on.
Spread across locations — Whether everything is in one room or spread over several addresses and a store determines the maximum loss per event.
Moving and exhibiting — Regular transport to fairs, loans or auctions brings a risk away from the permanent address.
Insurers weigh these details differently. That is why comparing pays off.
How we arrange it
You request a quoteWe take stock of your situation, your risk and your wishes.
We compareseveral insurers, on premium as well as conditions.
You receive a proposalWith an explanation of the differences and the exclusions.
We arrange the switchIncluding cancellation, so there is no gap in cover.
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
How often do I have to have my collection revalued?
A valuation report is usually valid for three to five years; after that the fixed value lapses and you fall back on the ordinary assessment of value when a loss occurs. In categories whose prices move sharply, the shorter period is wiser. Combine the revaluation with updating your specification, so that additions and rises in value go onto the policy in one go.
Can I insure part of my collection?
Yes. You can have the key pieces specified individually and valued, and bring the rest under an unspecified amount with a maximum per item. That brings the premium down and keeps the paperwork manageable. Do note that the series clause then only works within the specified part; a series that is half specified leads to argument when a loss occurs.
What if I cannot prove what I owned?
Then obtaining payment is difficult, even with a policy. With a specified collection policy the list is already with the insurer and that problem is solved. With an unspecified amount you have to make it plausible what was there. So keep photographs, purchase invoices, auction catalogues and certificates away from the premises or in the cloud, because paper kept next to the collection burns with it.
Is breakage while handling a piece covered?
On a comprehensive collection policy, usually yes: if you drop an item yourself while cleaning or rearranging, that is a sudden event. Where damage arises during treatment, restoration or cleaning by a professional, it falls under that party's professional negligence and not under your policy. Set out who bears which risk before you hand a piece over.
Read more
Within Art on home contents or valuables insurance
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