The report, “The New Era of Luxury Collecting and Investing,” surveyed 1,000 affluent Americans ranging in age from their 20s to their mid-40s, with annual incomes between $250,000 and more than $1 million, who actively collect watches, jewelry, art, antiques, wine and sports memorabilia. Of the 78% who consider the future value of an item the top purchasing factor, 38% have not considered purchasing a policy at all and 34% underestimate the risk of loss. Theft and accidental damage rank in the top three concerns for 45% and 42% of collectors, respectively – a risk awareness that does not translate into coverage action.
Young luxury collectors treat collections as investments but most remain uninsured: Chubb study & more related News Here
