Reality
television isn't just about watching people fight and drink too much;
there are some programs such as Antiques Roadshow and Pawn Stars that
actually dispense valuable lessons that you can bring into your everyday
life. Let’s take a look at a few important lessons these shows can
teach you when you’re in the market for home or renter’s insurance.
· You may
not realize the value of your things: How often has an individual
brought a family heirloom into the Antiques Roadshow and been completely
shocked at what the item is worth? Often, these people understand that
they have an emotional value placed on the item, but few realize exactly
how much monetary value it holds. And when people find out that their
grandmother’s quilts, their great aunt's portrait, or their uncle's old
tea set is worth tens or even hundreds of thousands of dollars, the
realization that must soon follow is that they have never carried enough
home insurance to cover this magnitude of financial loss if the item
had been damaged in an insurable incident. Don't wait for PBS's Antiques
Roadshow to come to your town before you find out how much your stuff
is worth. Instead, have an appraiser come through and look at those
items that you think are antique and possibly valuable then adjust your
insurance limits as needed.
· Beauty
doesn’t correspond to value: Even the ugliest knick-knack could be worth
thousands to the right buyer. Don’t get appraisals on just those items
with aesthetic appeal, but on all potentially valuable things.
·
Appraised value doesn’t dictate sale price and may not reflect insurance
value: Pawn Stars offers an alternative look at the value of the items
we hold on to. While Antiques Roadshow focuses on appraising antiques
and collectibles, Pawn Stars focuses on making an offer to buy an item –
young or old – that is worth something. Often, the price they buy it
for is less than it is appraised for and the appraisal price could even
be less than the owner would receive if selling it at an auction with
excited collectors. When buying insurance, it’s important to protect the
appraised value of items and to consider whether the insurer pays
actual or replacement value according to your policy.
Our agents have many ideas about how to get you the best Columbus business insurance coverage to protect your assets. Stop by or give us a call at 614-221-1500 to find out how we can help.
