Do you collect sports memorabilia, stamps, coins, rare books, comics, antique dolls, autographs or the like? If so, you may be wondering what the best way is to insure your collection, since a normal household contents policy is unlikely to cover it.

The standard home insurance contents policy may well put a limit on your collection in terms of a percentage of the value of your personal possessions, an upper limit on valuables in general, or only pay out the cash value rather than the replacement value. All in all, it is not the best product for the job.

If you have made a major investment, as some collectors have, in terms of both time and money, you would be well advised to seek specialist advice. Wardrop and Company in London, for instance, have been insuring stamp collections since the 1920′s but also insure other collectibles. The premium is based on an amount per thousand pounds in value and will vary according to whether or not your collection is kept at home, or in the bank, or a mixture of the two.

As far as valuing your collection for insurance purposes is concerned, the internet is a good starting point, although you may wish to take professional advice from an expert in whatever field you collect. Insurance cannot provide cover for sentimental value and collectors should avoid over-valuing.

It is essential to keep all receipts and it may help expedite a claim if you have an inventory plus photographs and/or video footage of your collection.

Hundreds of people have been affected by the flash flood that struck in Devon and Somerset on 29th May. Caused by no more than half an hour of torrential rain, many people have had their homes and businesses damaged by the surprise floods and home insurance companies have been offering advice to those affected.

Although nowhere near the scale of the floods that hit parts of the UK last summer, the latest bout of flooding has affected a large slice of the population. According to The Telegraph, the Devon and Somerset Fire and Rescue Service received more than 350 calls in two and a half hours, a huge number which reveals the severity of the storm. A report by The Fair Investment Company goes further by quoting one fire-fighter as saying it was their “busiest night in living memory”.

Twenty thousand festival goers were left disappointed after Sunrise Celebration, one of the first music festivals of the season, had to be put on hold as a result of waterlogged fields. But they were not the only casualties of the surprise weather. By far the worst affected were those who live or work in the region, and many people have suffered damage to their properties.

The ABI (The Association of British Insurers) has urged people to check the details of their home insurance policies to see if they can make a claim. They have also been quick to issue advice to those whose homes or businesses have been damaged as a result of the flooding. This includes refraining from using electricity or water supplies until they have been checked over and given the all clear, and taking photos of the damage in order to back up any claims that will be made. The ABI has reiterated the importance of taking out home insurance for such eventualities, because you never know when something like this can happen.

Coming home and discovering that you have been burgled has to be a homeowner’s worst nightmare. Sadly, almost 1 in 10 of us has had that experience, according to research conducted by Churchill Insurance. We don’t even have to have been away for a long holiday, just a weekend break or even a day trip gives the burglar the opportunity needed.

Whilst the old favourites of televisions and stereos are still vulnerable, the savvy burglar nowadays seems to prefer smaller, more easily transported items such as DVDs, CDs, jewellery, cash, credit cards and cheque books.

19% of those surveyed had been unlucky enough to lose family heirlooms and 28% had lost items of sentimental value. Whilst insurance cannot prevent burglary or make up for the loss of items with great emotional significance, at least you should not be left out of pocket as far as the run of the mill items are concerned.

Fortunately, burglary is on the decrease and our chances of being burgled are actually the lowest for twenty years. However, that statistic provides little consolation for the victims and it is well worth considering how you can make the burglars look elsewhere for their target. Burglary is, on the whole, an opportunistic crime, so by making their job a hard one they will hopefully give up and turn their attention elsewhere.

For specific advice on avoiding being burgled and what to do if it happens, see our helpful guide. You will also find information appertaining to specific groups who are more vulnerable than most, for instance students, older people and those moving house.