This autographed San Francisco 49ers World Champions football features the signatures of some of the NFL’s biggest players: Joe Montana, Jerry Rice and Dwight Clark, just to name a few. (photo: 100percentauthentic.com)

Independent agents and brokers play a key role in helping collectors protect what they love. While some collectors are savvy enough to realize their collections might need special insurance coverage, many simply are unaware that homeowners insurance is typically inadequate from the perspectives of covered perils or amount of coverage. For instance, a flooded basement with a $10,000 collection of sports memorabilia might lead to an outright claim denial because flood is not a covered peril under a HO policy.

Way back in the late ‘90s, Terrell (“T.O.”) Owens was a star on the rise, hoping to replace aging Jerry Rice as the San Francisco 49ers “go-to” guy. He's now one of football’s most-talked about wide receivers. Owen wore these size 14 cleats in his second season (1997); they still have red-end zone paint and soil caked to the bottom. (Photo: 100percentauthentic.com)

Agents we work with tell us that they make it part of their routine to ask about collections in the household with every homeowners insurance sale. Not only does this protect the client, it shields the brokers from coverage shortfalls (and E&O claims) and creates an avenue for the broker to understand a client’s most important possessions. It’s a way for agents to create a stronger bond with clients and better service their needs.

This seat cushion dates back to the first Super Bowl in 1967 where the Green Bay Packers defeated the Kansas City Chiefs. Definitely an interesting item to add to any football collection. (Photo: collectorsweekly.com)

Homeowners' insurance usually does not provide enough coverage, or the right coverage, for clients’ treasured items. Collectibles insurance is a complement to other personal lines products. It protects the full collector value of a collection rather than the actual cash value. Take, for example, that wooden hockey stick that Mike Eruzione is selling: Its actual cash value is likely just a few cents, but its minimum initial bid at auction was $1 million. In the event of a total loss, someone who owns something like that is going to want it be insured for a range of risks and at more than actual cash value. After all, collections inherently appreciate in value over time.

Rutgers grad Ray Rice has proven to be one of the best running backs in the league and ranked as the Baltimore Raven’s second all-time leading rusher at the end of the 2011 season. (Photo: fansedge.com)

Collectors need to be protected from risks including accidental breakage, hurricane, flood, earthquake, fire, and theft. Another coverage featured in collectibles policies is protection for packaging and accessories of collectibles, which often are an integral part of the collectible and drive its value. Other options can help collectors who are actively growing, displaying in public, or occasionally using their collection.