The Antique Show And Your Home Insurance Policy

December 30th, 2009 by Lloyd Pro Group Inc.

If you haven’t had the opportunity to watch the “Antique Road Show” yet, then you are in for a treat. This PBS program is usually on Sunday evening. Imagine a group of antique appraisers and experts that travel throughout the United States helping people learn what their garage sale  finds and family heirlooms are actually worth and how much they should insure them for. Everyone is hoping to find out that the jewelry inherited from Aunt Bertha or the oil painting they got at the garage sale was going to make them rich. Most folks leave disappointed but everyone has a good time.

Recently a woman brought her “prized” find from a garage sale. This old oil painting cost her $3.00, and you can tell that she was proud of the deal that she got. I looked at my wife and I wasn’t impressed. I never would have bought it personally in a thousand years.

The antique painting appraiser went on and on about the early 20th century artist who was now growing in popularity among art collectors in that local region. They reviewed the areas that were damaged and showed signs  of wear and tear. The woman looked depressed as they did this. However,  the appraiser assured her that it wouldn’t affect the value much.

As they always do they asked the woman what she thought it was worth. This is the best part of the show as you feel like you are playing a TV game show. Everyone in the family tells us their guess. The woman was shocked to find out that it was worth $ 80,000 and to insure it for $ 100,000.00.  We were shocked, so as you can imagine, the lady almost fainted.

How would you go about insuring this painting for $100,000? Recently we had an article that talked about insurance “riders” . This is a “mini” insurance policy that protects your valuables and antiques. A standard GA home insurance policy will probably pay up to a $1,000 for a stolen or damaged item. Imagine how frustrated she would have been if there was a fire only got a $1,000 on her claim! Insurance riders are an absolute necessity.

That is why it is essential to call your Georgia insurance agent and review any valuables, jewelry or family heirlooms that you own that cost more than a $1,000. Your Georgia insurance agent will show you how you can get $10,000 of protection for about .29 cents a day!

Lloyd Pro Group a Duluth GA Nationwide Insurance agency has been helping Atlanta protect their valuables with home insurance since 1985. They can be reached at (770) 381-5000 or on their website at http://www.lloydprogroup.com.

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