Should You Insure Your Persian Rug?

Insuring Your Persian Rug


Should I insure my rug(s)?

Short Answer: Yes.
Medium-Length Answer: Yes, because it is probably not covered under your home insurance!
Long Answer:
Your rug is a valuable work of art, and like any collectible with monetary and historical value, you should have it insured. Your rugs, while beautiful pieces of home decor, are also investments. Although no one ever wants to imagine their home being broken into, flooded, or on fire, the reality is that these things do happen. It’s better to over-prepare than to under-prepare.

Rugs are one of the most common victims of any home incident. Rugs are generally laid on the floor. They take up a lot of space, and they are difficult to move. A rug is certainly not the first thing on the list of things to save in case of an accident in most people’s minds, nor would it even be feasible to save your rug in the first place. A rug is not just large, but it is heavy too. If you are ever in a fire or flood, please do not stop to rescue your rug. We understand that it has a lot of value, both financial and sentimental, but you could very well be risking your own life in this situation.

If you are planning to insure the rug, here are the steps you need to take:

  1.  Have your rug appraised. Insurance companies will require a written appraisal, so although you may know the value of rug, you will need its value in writing. You will want a certified professional to appraise your rug. Behnam Rugs offers certified rug appraisals, but if you are not from the Dallas/Ft. Worth area, we understand wanting to stay local. Ask the rug appraiser for a sample of their work and for references. After examining your rug, the appraiser will supply you with a document that contains at least the following: a description (origin, materials, pattern, etc.) of your rug, the condition, its size, and necessary repairs it needs, and its value.You can use your written appraisal to insure your rug. This document will serve as valid proof of the value of your rug should you need to ever replace your rug or pay for any accident-related repairs. Behnam Rugs’ written appraisals give both market value as well as replacement value.
  2.  Check your home insurance policy. Many times, Persian and Oriental rugs are not covered under your typical home insurance policy. They may require a separate insurance policy of their own. Your home insurance policy may cover area rugs, but not specifically Persian or Oriental rugs. Do not wait until you actually need to use your home insurance to figure out what your insurance covers.
  3.  Look into extra protection. Your basic insurance policy may not cover all types of damage. For example, flood damage is frequently left out of insurance policies and must be purchased separately. Consider the types of accidents that could damage your rug, then check to see if those accidents would be covered by your insurance policy. We strongly suggest at least considering the purchase of extra coverage. It’s better to be safe than sorry.

If you have any questions, be they on insuring your rug or just a general rug question, give us a call at 972-733-0400. We are open Monday through Saturday, 9 AM to 5:30 PM.