Collections, sets, and memorabilia
COVERED
Some items are worth their weight in gold – or more! Which is why ensuring they are properly insured is so important. Here are instances where collections, sets, and memorabilia will and will not be covered should they suffer loss or damage due to an insured event.
What policy covers collections, sets, and memorabilia
What’s covered
We cover collections and sets, including stamp collections, collectors' pins, medals and currency no longer in circulation. We also cover memorabilia which are things saved or collected as souvenirs and/or for their historical interest.
Know that these items have flexible limits, you can increase the limit for an extra premium by specifying the item on your policy. If you have not asked us to increase the limit, the most we will pay for any one incident is the limit shown int the table above.
What’s not covered
As they are unique, collectable items cannot or will not be replaced ‘new for old’.
‘New for old’ means that if the item cannot be replaced ‘new for old’ or repaired, we will pay you what it would have cost to buy the item immediately before the loss or damage occurred, subject to the limits in your policy. We may engage an expert to help determine this.
There are some instances where you will not be covered for any loss or damage. Instances like if the loss or damage was the result of an event not covered under this policy, like loss or damage due to mould or mildew.
You can learn more about this coverage and its exclusions or limitations in the Product Disclosure Statement.