Should I insure my meteorite collection?
If it is valuable, yes. Check whether your home insurance covers it, keep a catalogue, photographs and receipts, and consider specialist cover for high-value pieces.
A meteorite collection can represent a significant amount of money, and it is worth considering whether it is adequately protected.
Check existing cover. Many home contents insurance policies have limits on single items or on collections, and some exclude certain categories. Read your policy or ask your insurer whether meteorites are covered and up to what value.
Specialist insurance. For valuable collections, specialist insurers that cover collectables, such as minerals, fossils, coins and art, may offer better protection, including cover for items in transit or on loan to exhibitions.
Valuation. Insurers may want an independent valuation. Meteorite values fluctuate, so valuations should be updated periodically. Reputable dealers or auction houses with meteorite experience can provide valuations.
Documentation. Maintain a detailed catalogue with each specimen's name, classification, mass, description and source. Keep photographs of each specimen, with labels and a scale, and keep receipts and certificates. Store copies of this documentation away from the collection, for example digitally in secure online storage.
Security. Insurers may require reasonable security, such as locked cabinets or alarms. Keep valuable items out of sight from windows and visitors.
Transport and exhibitions. If you take specimens to shows, lend them to museums or post them, check whether insurance covers this.
Prevention. Good storage, controlling humidity and preventing rust, protects value. Insurance rarely covers gradual deterioration such as rust.
For smaller collections, documentation alone may be enough, but it is always worthwhile.