If you are among the estimated 40% of people in the U.S. who maintain a collection of high-value items, chances are good you’re also among the many people who believe their prized collection is covered in the event of a loss.

But consider this: most personal property coverage with your homeowner’s insurance is a percentage of the value of your home (usually 50-70%), and insurers place limits on the reimbursement value of individual items.  If the value of your collection exceeds that limit, you’re out of luck.