Why a homeowners policy won't protect your collection.
Standard homeowners and renters policies were never designed for a six-figure card collection or a signed jersey wall. They cap collectibles, exclude mysterious disappearance, and pay depreciated value. Specialty coverage through WAX is built differently.
WAX collectibles coverage vs. a standard homeowners policy
| Feature | WAX specialty coverage | Standard homeowners |
|---|---|---|
| Valuation | Agreed value — paid up to 150% of scheduled value on a covered total loss | Actual cash value or sub-limited replacement cost |
| Items covered | Purpose-built for collectibles: cards, memorabilia, watches, art, coins, and more | Collectibles typically capped at a few thousand dollars total |
| Deductible | $0 deductible | Standard deductible applies (often $500–$2,500) |
| Mysterious disappearance | Covered — loss and mysterious disappearance included | Usually excluded |
| Where you're covered | Worldwide — home, shows, transit, and travel | Primarily at the insured residence |
| Appraisal requirement | Appraisal or bill of sale (within 3 yrs) generally required only above ~$25,000 per item ($50,000 for watches) | Scheduling collectibles often requires appraisals with tighter limits |
| Impact on home policy | Standalone — a claim doesn't touch your homeowners policy or premium | A collectibles claim counts against your home policy and can raise rates |
| Newly acquired items | Automatically covered at 25% of the class limit for 90 days | Typically not covered until manually scheduled |
What "agreed value up to 150%" actually means
With agreed value, you and the carrier agree on an item's insured value up front. On a covered total loss, WAX can pay up to 150% of that scheduled value — recognizing that collectibles appreciate, and that a market-moving card may be worth more than the number on your schedule. A homeowners policy, by contrast, tends to pay depreciated actual cash value, if the item is covered at all.
No deductible, worldwide, and standalone
A $0 deductible means a covered loss is paid without you eating the first several hundred or thousand dollars. Coverage follows your items worldwide — at home, at a show, and in transit. And because the policy is standalone, a claim on your collection doesn't raise your home insurance premium or count against that policy.
Loss & mysterious disappearance
"Mysterious disappearance" — an item that simply goes missing with no explainable cause — is one of the most common collectibles losses and one that homeowners policies routinely exclude. WAX includes it.
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Coverage is subject to policy terms, underwriting, and WAX approval; availability and thresholds vary by state. Nothing on this page is a bound policy or a binding quote. Insurance is offered through a licensed agency appointed with WAX Insurance. Figures and limits described reflect general WAX program guidelines and may change.