Items in Antiques Roadshow Aren’t Adequately Insured

Thousands of people came to the Indiana Convention Center and RCA Dome Saturday for the Indianapolis stop of the 2001 Chubb’s Antiques Roadshow summer tour, anxious to find out how much their personal treasures were worth.

But while show attendees hoped the items they brought were worth a fortune, 43 percent said that beyond homeowners or renters insurance, they do not carry additional insurance to protect their treasures.

A survey of 222 show attendees, conducted by the Chubb Group of Insurance Companies, the underwriter of the Antiques Roadshow, also found that 29 percent were not sure of the type of coverage they have on their valuables, and hence, on what basis a claim would be paid.

In addition, the survey also revealed that show attendees considered items of sentimental value the most valuable thing they could pass down to their next generation, and the flag from the 1911 Indianapolis 500 to be Indianapolis’ most prized treasure. The Declaration of Independence was an overwhelming pick as our nation’s greatest national treasure.

Real estate was second to items of sentimental value (23 percent vs. 39 percent) as the attendees’ most valuable heirloom or possession they could pass down to younger family members. The next most popular choices were jewelry and cash and/or securities (both 14 percent), and artwork (10 percent).

The Statue of Liberty was the second choice as our top national treasure (12 percent vs. 68 percent for the Declaration of Independence), followed by the White House (9 percent).

In other findings:

– 34 percent said that if one of their treasures were to break, they were not sure if their insurance would provide coverage to fully replace the item, and 21 percent said their insurance would not cover fully replacing it.

– 82 percent were aware that a typical homeowners or renters insurance policy only provides up to a total of $1,000 to $2,500 for jewelry, silver, art, antiques and other valuables.

– 13 percent don’t take any special precautions to protect their valuables, such as keeping them away from the elements, keeping them away from children and/or pets, locking them in a closet or cabinet at home, or storing them in a bank vault.

– 53 percent of the attendees inherited the items they brought to the show; 14 percent bought one or both of their items from a dealer, antique store or estate sale; and 10 percent received one or both items as a gift.

Chubb’s Antiques Roadshow, a PBS-TV series produced by WGBH Boston featuring a series of local events at which top appraisers determine the value of America’s “hidden treasures” and tell the stories behind those treasures, just concluded its sixth tour across the country. The tour began in Tucson on June 9 and continued in Miami (June 16), San Diego (June 30, New York (July 14), and New Orleans (Aug. 11).