Insurance. What a sexy topic but if you own a collection of luxury items, you seriously need to make sure all of your assets are covered. What would happen if you were robbed, fire, flooding, moths or an errant dry cleaner? Is your closet even insured? The more and more we collect these luxury handbags, shoes and accessories, you need to make smart decision in case of, “what if”.

Your homeowners insurance or renters insurance is excellent for your TV and bedroom set but did you know that you can take out specific insurance just for your luxury items? Well, you can and if your closet is worth over $10K, you should be prepared for any sort of loss.

Zuhair Murad $16 thousand dollar embellished fishtail gown

Zuhair Murad Embellished Fishtail Gown – $16. 884

If you just have a couple of Louis Vuitton bags, you should have those insured with either your home insurance company or with your renters insurance. Every insurance company out there covers day to day items but what if we’re talking about a $16K dress like the one above found on Farfetch? The discussion needs to be had but when your talking to Jake from State Farm, is he really going to understand what the Chanel bag, Louboutins or those Rolex watches mean to you and their value? It’s not just a number, you need a company that understands couture and it’s value and here is were AIG Private Client Group comes in!

From the AIG website:

Couture Collection Insurance

Your wardrobe is bespoke and your insurance coverage should be too. AIG Private Client Group recognizes the importance and meaning of your couture collection and offers coverage as unique as your style.

Your couture collection was born by thousands of hours of labor from the world’s finest skilled hands, designed to meet your tastes, your figure, and your personal expression. From its creation at the couturier, to your closet, and throughout its journey as wearable art, AIG is the only insurance provider that provides specialized insurance protection for couture. Covered items include:

Couture

All garments made by a couturier can be scheduled for a minimum of $10,000 per garment.

Ready-to-wear

Garments made by a fashion designer can be scheduled for a minimum of $2,500 per garment.

Shoes and handbags

Shoes and handbags can be scheduled for a minimum of $500 each.

Vintage clothing, costumes, historic and celebrity clothing collections

Whatever your passion, AIG can help ensure that the garments you collect and preserve are covered.

Wearable collectibles coverage highlights

All the benefits of our industry-leading private collections policy, including no ? deductible, are included. This is meaningful, considering a loss to a valuable pair of shoes or handbag might not be covered on your homeowners’ policy if the loss does not exceed the deductible. In addition, the following enhancements are available:

Moth damage for your couture collection

We will pay expenses for restoration and reweave services by a reweaving expert in an attempt to repair damage from moths.1

Flood and mold coverage

Although typically excluded from homeowners policies, flood and mold protection are included.

Dry-cleaning damage

We cover losses that occur at a certified high-end dry cleaner that is affiliated with the Leading Cleaners Internationale or Couture Cleaners Group.

Additional shipping protection

Compared to our standard collections policy, double the amount of coverage (up to $20,000) is available for shipping your couture.

Specialized pricing for couture fur

You will receive better pricing for couture fur items than you would on a standard collections policy.

Work-in-progress for couture and shoes

While your couture item is being created-anywhere in the world-up to $100,000 per occurrence, per location is available for a covered loss.

Newly acquired items for couture, shoes, and handbags

Acquisition begins on the date when partial or full payment has been made. If you’ve paid a down payment on your collectible, we acknowledge your ownership.

Collectible accessories

Up to $2,000 per occurrence is available for miscellaneous collectible accessories-from millinery to gloves to leather belts and beyond. No scheduling is required.

Wedding attire for you and family members

Bridal gowns, groom tuxedos, bridesmaid dresses, groomsmen suits, and any other items to be worn by the wedding party, are covered while in your care, custody, and control.

Worldwide coverage

Wherever in the world and anytime you choose to travel or wear your garments, coverage is in effect.

The ultimate accessory for your policy

Our wardrobe recovery coverage enhancement takes your closet to the next level of protection. If you keep your wardrobe at a professional garment storage and valet facility and suffer a homeowners claim, we reimburse you for three months of storage costs, up to $2,500, for proactively protecting your wardrobe.

To help prevent loss, up to $25,000 is available for dry cleaning associated with the relocation of your designer wardrobe to a high-end garment cleaner. Many garment storage facilities require cleaning before garments can be stored after a homeowners loss2, even if there has been no loss to your couture itself.

Find out information on Garde Robe, the nation’s first and only museum-quality wardrobe storage and preservation service.

1 Includes a $500 deductible, $5,000 per item limit, and $15,000 aggregate per year. Diminution of value is excluded.

2 Damage must be at least $5,000 and also expose your wardrobe to possible loss.

Hermès Turquoise Chèvre Birkin 30 courtesy of Ann’s Fabulous Finds