CONTENT ITEMS
Collections, sets, and memorabilia
COVERED
Some items are worth their weight in gold – or more! Which is why making sure they are properly insured is so important. Here are instances where collections, sets, and memorabilia may be covered under AAMI’s Home Contents Insurance cover should they suffer loss or damage due to an insured event.
What’s covered
We cover collections and sets, including stamp collections, collector’s 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, which means you can increase the limit (for an additional 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 $5,000 in total for all collections, sets, and memorabilia.
What’s not covered
As they are unique, it may not be possible to repair or replace collections, sets, and memorabilia as ‘new for old’.
If these items 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, up to the relevant limit in your policy. We may engage an expert to help determine this.
There are some instances we don’t cover. Like if the loss or damage was the result of an event that is not covered under this policy, like loss or damage due to mould or mildew.
You can learn more about this cover, the definition of ‘new for old’ and the exclusions, conditions or limitations in the Product Disclosure Statement.