From baseball card collections to precious jewels, family heirlooms carry very special value. Sometimes, the item itself does not have a high price tag. It could be a set of old photographs, for example. Yet, it is very valuable to the owner. 
These items need proper protection. In some cases, this warrants investing in home insurance. Do your items need protection and, if so, what should you invest in?
Know the Value
A good place to start is with an appraisal. This is very true for older items. The value may not be as clear due to its age or historical value. Most people can find appraisers locally.
It is best to have an official appraisal completed for the item. Do not just use resources online. This can offer an idea of value, but an official appraisal is best. Some home insurance companies may require it.
Determine When Home Insurance Is Necessary
Most home insurance policies provide coverage for the contents of the home. Look at your policy. It will likely list a maximum payment per item. Is this limit higher than the value of your family heirloom? Also look at the total coverage for contents in your home. Most policies pin this at 10 percent of the value of the home’s policy. Is this enough to cover all items in your home?
If your item has a high value on its own, you may need to purchase additional insurance. A rider is a type of add-on to your existing policy. You can use it to cover high-value items in your home. This may include family heirlooms. Your agent can offer information about the benefits. He or she can also give you insight into the best way to appraise very high valued items.
What If It Has Lower Monetary Value
What about those family photos? Items with limited monetary value on the market can still have insurance. Your agent will discuss the value with you. You will need to agree on a specific value for the items with your agent. From there, you can purchase as much coverage as necessary. This can also happen as a rider to your existing policy.
Family heirlooms are important to pay close attention to as their value can change over time. Be sure your agent stays up to date on what these values are. Update them annually as necessary to keep what is precious to you safe.
Also Read: What is Replacement Cost in Terms of Home Insurance?