Guarantee and protect your precious objects | Family Folder

In the event of a claim, compensation is not automatic. To compensate for the loss of his property, it is still necessary to have taken out good insurance.

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Collections of all kinds, works of art, jewellery, fur coats, period furniture, musical instruments, silverware, precious carpets, rare books… you don't need to be wealthy to own this type of object.

Some art lovers were able to afford a few works by artists who were unknown at the time, and now find themselves at the head of a collection likely to exceed €100,000.

Other individuals may have inherited period furniture, family jewels or a master painting. Beyond the sentimental value that their owners may give them, these goods constitute a heritage that it is more prudent to insure against theft.

Examine your multi-risk home contract

Several solutions make it possible to guarantee them. As a first step, it is a good idea to examine your multi-risk home insurance contract to check whether the coverage offered includes this type of property or, on the contrary, excludes it. "Sensitive" or "precious" objects, each insurer adopts its own terminology and lists those that it agrees to guarantee, according to specific criteria.

Some companies only take into account objects that are exhaustively inventoried (clocks, carpets, paintings, etc.), provided that they exceed a certain value: for example, greater than €5,000 or corresponding to three times the index in euros of the cost of construction drawn up each quarter by the French Building Federation (931.20 in the 2nd quarter of 2016, i.e. €2,796.60).

Expensive item or valuable item?

Others simply set price criteria, which makes it possible to elevate top-of-the-range high-tech equipment (a computer, a digital camera, etc.), an expensive watch or a sofa to the rank of precious objects. Attention ! Fur coats are often considered mere clothing when their value does not reach certain amounts.

As for jewels, they are rarely assimilated to expensive objects if they are not fashioned from precious stones, fine pearls or rare metals. Collections of coins, weapons, or even ancient manuscripts can also be excluded from the list, and sometimes even from any compensation.

A compensation limit

In general, the question of precious objects is addressed within a specific paragraph. When they are taken care of, they remain subject to a particular compensation ceiling, often lower than the general ceiling provided for by the contract.

Some so-called "top-of-the-range" multi-risks guarantee an overall capital without making a difference between ordinary objects and others, but this is still quite rare.

"More commonly, precious objects, such as jewelry, paintings or carpets, are guaranteed by multi-risk home contracts within the limit of a percentage, very often between 10 and 30% of the insured capital", summarizes one to Federation French insurance companies (FFSA).

For example, a policyholder who, as part of his multi-risk home insurance, chooses to insure his furniture within the limit of €100,000 will see his precious objects covered up to €10,000, €20,000 or €30,000 if the contract respectively provides for a ceiling of 10%, 20% or 30% of the guaranteed capital.

Second home: what coverage?

In addition, although multi-risk home insurance for a main residence guarantees, under certain conditions, the precious goods stored there, it is rarer for them to be taken care of in a country house when the loss occurs during of vacancy.

Hence the interest of not equipping your second home with period furniture or of avoiding leaving your jewelry box there before leaving!

Warranty extension

In any case, to benefit from a more extensive guarantee, there are other solutions.

If the level of guarantee is not satisfactory because it does not sufficiently cover the value of precious goods, it is possible to request an extension of guarantee, subject to the payment of an additional premium. Obtaining an extension of cover requires, first of all, to contact the company directly with which the multi-risk home insurance was taken out. It is then possible to negotiate additional insurance for precious objects not covered by the main contract.

It is often preferable to multiply by two or three the precious items item of your multi-risk home contract rather than taking out a separate contract. This first solution is often less expensive, but it will result in a substantial increase in the final premium of the insurance policy.

More expensive tailor-made insurance

If the usual insurer does not offer this type of service or if the guarantee offered seems insufficient, it is time to turn to a specialized company. We then speak of "art objects contract" or "jewelry contract".

This type of contract is aimed at owners of very high value objects, such as master paintings for example. Tailor-made insurance, therefore more expensive and proportional to the amount to be covered.

Know the exclusions of guarantees

However, these contracts have, in the same way as any insurance, warranty exclusions and deductibles that you should be aware of.

For example, precious objects are often not covered outside the insured's home (outbuildings, cellar, etc.). Another consequence: it is necessary to provide a special clause - with an additional premium - intended to guarantee his jewelry during his travels.

Very high-value collections for which the disappearance of a single piece would significantly devalue the whole lot require, moreover, to check whether the insurance contract reimburses the value of the whole lot or only that of the piece. missing.

Regarding fragile objects (a terracotta sculpture, a Gallé vase, porcelain, a chandelier, etc.), you must ensure that the risk of breakage is included in the glass breakage guarantee.

Beware of extended absences

In addition, be aware that prolonged absences of more than twelve weeks (or even five weeks only, taken consecutively or several times over a year) can void the guarantee against theft.

Some insurers nevertheless agree to cover precious objects against this risk, provided that the insured takes special precautions.

He must, for example, undertake to deposit his jewelery in a safe if he is away from home for more than ten days, install shutters and close them as soon as his absence exceeds 24 hours, put specific bars on certain windows, install burglar-proof glass at least 12 mm thick, a multipoint lock, an alarm connected to a remote monitoring center, etc.

In this context, an expert can be commissioned by the insurer to list the security measures to be implemented within the home.

Ensuring agreed value

Holders of particularly valuable goods have an interest in insuring them according to an agreed value (assessment of the goods by an expert) rather than a declared value (the insured declares a value at the start of the contract).

A choice that is not always possible in the context of a classic multi-risk home, but which remains decisive, because it determines the speed and efficiency with which a claim will be taken care of.

Declaring the agreed value of the object avoids the insured having to prove the existence and the price of a guaranteed good, insofar as, as soon as the contract is signed, it is the insurer who determines its value (thanks to the elements previously provided by the insured: invoice, auction slip, deed of gift, or even expertise, etc.).

Attention ! The agreed value is generally granted for a given period (for example, five years). It should then be reviewed regularly. For works of contemporary art whose price can change very quickly, it is even necessary to provide for a more frequent revision: every two or three years.

Anticipate the disaster

If the insurance contract was signed on the basis of a declared value, the justification of the valuation of the damaged parts is the responsibility of the insured. The day he wishes to be compensated, it is up to him to establish by any means the price of his damaged or missing property.

In this case, it is preferable to anticipate the loss by taking care, when taking out the contract, to make a video or photos of each object. And above all to keep all the invoices relating to the property (purchase, restoration, jeweler's invoices in the event of repair, etc.).

Choose the right safe

Having a few precious possessions at home sometimes requires storing them in a safe. They come in all sizes and, of course, at all prices.

DIY stores, for example, offer models for less than €100. But if it is a question of acquiring a real safe from a specialist, the bill could climb much higher, between €1,000 and €2,000, delivery and installation included.

The A2PE label provides information on the degree of resistance of the safe (walls and lock) and on the insurable amount (between €8,000 and €300,000). The capacity. In a 13-litre trunk, you can put precious objects, but to store A4 format documents you will need a model of at least 20 litres. The mode of installation. Wall-mounted models are the most popular, but those to be fixed to the ground, in a concrete slab or, failing that, in a load-bearing wall, thanks to special and very resistant plugs, offer an equivalent guarantee. Closing method. Depending on your preferences, you can opt for a key, mechanical or electronic combination lock (powered by batteries). Combination safes prevent burglars from ransacking the house to find the key. Fire resistance. Not all chests are fireproof. It is therefore necessary to ensure that they are, especially if documents must be stored there.

To declare a sinister

The deadlines for declaring a claim vary according to its nature and the insurance company. In all cases, they are very short and start as soon as the incident is discovered.

After a fire or water damage, the insured has a maximum of five working days (Saturday and Sunday not included) to make his declaration. In the event of theft or vandalism, this period is reduced to two days.

Even if the insurer is notified by telephone, it is better to confirm the declaration by registered letter with acknowledgment of receipt. The insured must also take care to detail the damage suffered. It is also recommended to mention that the declaration is made "subject to the discovery of other damage".