Good Morning, Quilters!
Should I insure my quilts? That is an important question and one we should discuss on Open Line Friday!
I talked to my insurance agent and will share the answers…
But we would LOVE to hear YOUR experience on this topic!
A Conversation with American Family Insurance Agent
Recently, a reader of LKQ wrote to me and asked, “Should I insure my quilts?” It is not something I have thought about…but, after spending hours on my Boxes and Vines quilt–I realized how important this question is! I would be crushed if this quilt was damaged in any way…
I made a call to my agent, Pamela Petersen. She was happy to discuss the topic with me–and I recommend that you call your agent and talk to them about your policy!
Appraised and Scheduled
Basically, she said the best way to insure valuable pieces of art is to have them appraised and specifically documented or “scheduled”.
It is best to purchase a “Replacement Cost” policy.
Documenting Your Quilts
You can document your quilts yourself. This saves the expense of appraisals.
Be sure to include photos, a list of materials, the cost of the materials and an estimate of the amount of time spent on the quilt.
Of course, save the documents where they are safe from fire and water!
Most insurance companies will work with you to create a fair estimate for the quilt.
Do You Have a Quilting Business?
If you quilt professionally, your homeowner’s insurance may not cover your client’s quilts. You will need a separate business insurance account.
Is Shipping Quilts Covered?
Homeowner’s insurance does not cover shipped quilts! It is best to purchase shipping insurance directly from the post office, UPS, or Fed Ex.
YOUR Quilts: Destroyed or Stolen
What about YOU?
Have you ever had a quilt destroyed or stolen?
Was your quilt covered by insurance?
Do you have your quilts appraised?
We’d LOVE to hear!
Your cautious quilter!
PPS…All tutorials, images and information are the property of Lori Kennedy Quilts and are intended for personal use only. Feel free to re-blog, pin or share with attribution to Lori Kennedy Quilts. For all other purposes, please contact me at Lori@LoriKennedyQuilts.com. Thanks!
For more step-by-step tutorials and skill building exercises, check out my books: