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Insurance & The Art of Artifcts

November 20, 2024

Creating an Artifct is often a joyful experience, sometimes it is also cathartic, and for many Artifcting has become their preferred means of planning for their today and for their future. Insurance fits into that final category of Artifcts: preparedness. 

As you update your policies or renew in the new year, consider: Do you have enough insurance coverage for your valuables? Are you over insured? Do you have the documentation necessary to file a claim if mother nature, theft, or an accident forces your hand? Is an appraisal needed for a valuable item in your collection? 

Ironically, in a 2020 poll from the Insurance Information Institute, fewer homeowners reported having a home inventory than a decade prior, despite increased familiarity with and options for digitization of photos, documents, and more as well as a proliferation of inventory apps for home goods and collections.

In 2020, fewer homeowners reported having a home inventory than a decade prior, despite increased familiarity with and options for digitization of photos, documents, and more as well as a proliferation of inventory apps for home goods and collections.

It’s human nature to avoid the negative, the improbable, and any issues that aren’t about today. But here at Artifcts, you’ll not only be able to create a record of items that are of greatest value to you, but in the process, you’ll have the opportunity to enjoy reliving and sharing your stories and passions with others and document irreplacable items, too!

Artifcts to Support Insurance 

When you create Artifcts with insurance coverage in mind, there are a few best practices to guide you. 

      • Photos and video. Take advantage of the five photos and/or videos you can add to each Artifct. Take a picture of the object as a whole, take another picture of a maker’s mark, if any, and then photograph the item from other angles. We also strongly encourage you to record and include a short video of the object, showing it from multiple angles. 
      • Documentation. Take a moment to find the receipt, appraisal, certificate of authenticity, or, if nothing else, a credit card statement that can help validate the original market price paid and the authenticity of the item. Attach it to your Artifct. When you acquire new items of value or collectibles, we recommend you Artifct That on the spot, when everything you need is at hand. This is a habit that will serve you well! 
      • Provenance. Where did it come from? Why do you have it? What does it mean to you? Even if you have only family lore of where an older item came from, record that in the “Description or story” of the Artifct.  

If you purchased it, describe where and when you were when you acquired the item and what makes it valuable to you. No, sentiment is not a qualifier in appraisal or replacement value, but it will be important to helping you get the right coverage and setting your own expectations for items you value.  

      • Add optional details. In your Artifct, click to view the “Full Form” and include how old it is, when you acquired it, and the marketplace or artist it’s from to facilitate an appraisal and any future insurance claims. We also strongly encourage to add its current physical “location.” And tag the item, e.g., #insurance, to easily sort your Artifcts by items you have, or want to have, added to your policy.  

Determining the Value of Your Belongings 

If you’re not sure of the value of an item in your collection, but suspect it’s valuable and want expert insight, you can Artifct That and then click “What’s it worth?” to share the Artifct and its supporting documentation privately with Heritage Auctions. They will assign your Artifct to the appropriate expert to review.  

You will receive a notification automatically in a few weeks when the free valuation is ready. You’ll find the valuation report in the documentation section of your Artifct. With the information from the valuation in hand, you can decide what to do next.  

Here's an example: You inherited a clock from your grandfather. You love it because it reminds you of him, always positioned on the bookcase next to his favorite reading chair, and you know he brought it with him to the United States from his homeland, Japan. The free valuation from Heritage Auctions informs you that that clock, in that condition, from that maker, in today’s market would go for between $18,000 and $22,000.  

You may think to yourself, “I better get an appraisal and confirm that it’s covered by my insurance policy.” Or you may think, “I loved Grandpa, but that clock is not that valuable to me. I’m going to sell it and use that money for {whatever you like}.” 

Before you sell a family heirloom or anything you value, you should consider these tips from Lark Mason, an expert in Chinese art and antiquities and frequent host on Antiques Roadshow. Read now! 

Insurance: Fact or Fiction 

We’ll close out this focus on Artifcts for insurance by revisiting our popular “Fact or Fiction?” discussion we had last fall with Howard Insurance, a private insurance advisory and risk management firm, about how to protect your ‘stuff’ from the chaos and mayhem that is life.

We invite you to test your knowledge with our "Insurance: Fact or Fiction" quiz, and then see what the experts have to say. (Hint: Answers are below.) We hope each point will build your confidence to take the necessary steps to protect all you cherish! 

      1. I need an appraisal to insure an item separate from my homeowner's policy.
      2. My homeowner's policy will pay to replace items even if my jewelry, antiques, silver or fine art has appreciated in value.
      3. All homeowners' policies are the same and include the coverage for everything in my home.
      4. Coverage for my personal trust is automatically included in my homeowner's policy.
      5. All homeowners' policies include coverage for mysterious disappearance.
      6. My personal property coverage is worldwide.
      7. Coverage for my personal property includes water damage, hurricanes and floods.
      8. There is no deductible for losses to my personal property.
      9. Filing a claim for my personal property will not impact my homeowner's premium.
      10. Mysterious disappearance coverage is included automatically on valuables policies. 

As the fact-fiction quiz reveals, picking the right policy or combination of policies is critical to protecting your ‘stuff,’ and worth a conversation with your agent. Watch the video replay with Howard Insurance for the full details behind each of these fact or fiction questions. 

Happy Artifcting!

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© 2024 Artifcts, Inc. All Rights Reserved.

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Estate Planning of Things

Over the last several years, there has been a movement in technology called the “Internet of Things.” This is the growing interconnection, via the internet, of computing devices embedded in everyday objects. At some point in the future, all our home and business technology are expected to be seamless and interconnected.  

In the past, estate planning has been solely or almost completely concerned about passing a person’s assets at death. It has not been connected to other parts of life and especially not connected to the parts of all our lives that have no monetary value: family history, legacy, values, etc. If the IRS does not value it, we often ignore it in estate planning.  

If the IRS does not value it, we often ignore it in estate planning

We need to start thinking about Interconnected Estate Planning to make estate planning more wholistically connected with our lives. Especially in this age of downsizing and decluttering, we need to start thinking about how we plan to transfer our things to our children, families, and friends in a way that transfers not just the title and ownership, but also transfers the “Why” so those people and others will understand the importance and the stories behind those assets. We also can think about making those transfers during life when we have the chance to assure the best stewardship of the items for the future.  

 
 
 
 
You can watch the full episode of Evenings with Artifcts: Modern Estate Planning here.

How do we start Interconnected Estate Planning? Many of us are paralyzed or overwhelmed and do not start estate planning until late in life, or – at worst – when it is too late. Among the negative thoughts I have heard are: 

  •  “I’ll just leave this to be handled after I am gone.” 
  • “My children/grandchildren/friends/family all know what I want and they will divide everything fairly.” 
  • “I do not want to make any decisions that might make people mad after I am gone.” 
  • “I don’t want to dwell on my own death.” 

In my experience, it is much better to make a plan than to leave the disposition of your estate to chance. Many estate planning attorneys, accountants, insurance professionals, and others who help to manage assets for estates have stories of families broken apart because the person who died was not clear about disposition. There are lawsuits that have dragged on literally for decades where beneficiaries argue about these assets… and not always the most expensive items. 

 In my experience, it is much better to make a plan than to leave the disposition of your estate to chance

Fortunately, there is a solution. Creating an interconnected plan can start with considering just a few items, and without even going to an attorney. By considering these items, you have the chance to answer the most important question your beneficiaries will have after you are gone: Why? Why are these items important? Why did she save that? Why does it matter? 

In one of the episodes of Evening with Artifcts, Jeff Greenwald said, “When you are giving an object away, it motivates you to tell the story. Stories don’t take up much space at all.” So, start with a small list of items you value. Title the list “Personal Property Memorandum” and state at the start that you intend this to be included in your current or any future Will, and date it. Make the list and consider why you think those items are worth giving away, what they mean to you, name the beneficiary, and describe what the item might mean to the beneficiary.  

Artifcts can be a great way to start organizing your thoughts. Once you have the items in Artifcts, you could print out the items, and use the printout as part of your Memorandum. With Artifcts, you can also write directly in the "In the Future” field that the object in question is to be given to a particular person.  

By considering who should get the items, you can decide whether to wait to give it away now, or make it part of your estate. As you make these decisions, just update your Memorandum (and Artifcts!) at any time. 

This is a simple way to pass along items with the most meaning in your life to those who can most benefit. 

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Looking for additional tips to help you tackle the estate planning of things? You might also enjoy:

Estate Planning & The Art of Artifcts

Insider's Look at What It Means to Clean Out an Estate

How Well Managed Is Your Family History Estate?

© 2025 Artifcts, Inc. All Rights Reserved.

Read more
When Insurance Isn't Enough: Preserving What Truly Matters

Across the US, homeowners are watching their insurance premiums skyrocket. According to an analysis of insurance industry reports, average premiums have risen over 20% in the last year alone, with no signs of slowing. And when disaster strikes — from hurricanes and wildfires to floods and theft — insurance payouts can take three to six months or longer to be fully processed and received. 

Even when claims are approved, homeowners are often left grappling with another harsh truth: some things can be replaced, but many cannot. And often the things that cannot be replaced are the ones that we value most. They may not be the ones that hold the most financial value, but they certainly tend to hold a lof of what we call “heart value.” 

What’s a Needlepoint Pillow Worth? 

Let’s say your insurance company writes you a check for the fair market value of your damaged or stolen items. Refrigerator? Check, that’s easy. Sofa and loveseat, double check.  

But what’s the monetary value of Nana’s handmade needlepoint cushions that sat in her living room for decades? Or the vintage charm bracelet your mom wore every holiday? How about your child’s first fingerpainting, lovingly framed and hung in the hallway? 

The answer: There is no replacement cost high enough to recover the meaning of these items. And that’s why we Artifct. 

There is no replacement cost high enough to recover the meaning of these items

When Disaster Strikes, an Artifct Is Your Memory Vault 

Natural disasters don't give us time to prepare. But a digital record of your most sentimental belongings means you can prove ownership, document financial value (when possible), and most importantly — preserve the memories even if the object is lost. 

While insurance companies assess damage and estimate costs, your family won’t be left trying to remember what that cherished object looked like or where it came from. You’ll already have a rich, secure record, and a legacy to pass on. 

This October, we challenge you to Artifct the irreplaceable. Not everything in your home, just the things that would break your heart to lose. Start with: 

  • A family quilt with generations of history sewn into its fabric
  • The wedding china no one dares eat off of, but everyone remembers
  • Dad’s old fishing rod, full of childhood memories
  • A handwritten letter tucked in a book from someone long gone 
 
 
 
 
 
 
Vintage Handwritten Love LetterClick on the image to view the Artifct, one of many irreplaceable items of this family's history.

At the end of the day, no insurance policy (or AI algorithm for that matter) knows what matters most or what items have the most heart value to you and your family.  

Your Family’s History Is Worth Saving 

As you celebrate Family History Month this October, don’t stop at genealogy charts and old photographs. Think about the physical items that tell your family’s story. Think about the why behind them. And give yourself (and future generations) the gift of preserving not only the item, but the history, stories, and memories that go along with it. 

Because in the end, your history is more than names and dates. It’s the objects you touch, the stories you tell, and the people you love. 

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Looking for additional tips to help you be prepared for all of life's what ifs? You might also enjoy:

Insurance & The Art of Artifcts

How to Choose the Right Home Inventory App for You

How a Simple Act Saved One Man's Most Valued Memory of His Dad

© 2025 Artifcts, Inc. All Rights Reserved.

Read more
Your Future Family Heirlooms

What is a family heirloom other than some object that someone decided was important in some way and decided to keep it and pass it along to another family member. That’s it. For what it’s worth, Webster’s dictionary agrees with us – and it all hinges on the word “special.” 

: something of special value handed down from one generation to another

No one ever said family heirlooms have to be financially valuable or historically significant.  

A family member might have an inkling that an heirloom carries with it some history. But then again, even if so, how will you gain access to that history? Usually it’s a conversation, a sticky note, a journal that’s also hopefully passed along. We can do better. We need to do better. 

Artifcts and Heirlooms Go Hand-in-Hand 

Each Artifct you create carries the potential of heirloom status. How you may ask? Many ways, including: 

By creating awareness that this object even exists, or that it has some interesting origin or story, you increase the probability someone will care about it and claim it as their own. It’s no longer just ‘stuff.’  

One of our Artifcts members thought her china set was doomed for the Goodwill bin. However, when she Artifcted it and shared the story with her family, she had children and grandchildren eagerly offering to take it off her hands. Why? Because it wasn't simply a china set that she had received as a wedding gift as long assumed. No, it was a set she purchased while stationed overseas in sub-Saharan Africa as a newlywed under instruction from the US Ambassador that, "Martha, you need a china set for 12 because you are going to start hosting diplomatic dinners." Who would have thought!

Because it wasn't simply a china set that she had received as a wedding gift as long assumed

By serving as a unique digital asset, a digital heirloom. Someday, your loved ones can inherit your Artifcts collection and the stories, memories, and more captured in each Artifct will live on. If you haven't already done so, simply designate your primary and secondary legacy contacts for your Artifcts account to ensure your heirlooms live on for generations to come. 

By creating new family heirlooms from existing ones. One of the earliest examples of this that we saw here at Artifcts was Grandmom's rolls recipe from the early 1900s that was reborn and brought out for everyday enjoyment when engraved in her mother's handwriting on a cutting board.  

One of our favorite tips for Artifcting future family heirlooms is to include a photo of a family member using, wearing, or otherwise enjoying the heirloom-to-be. It helps connect the dots between the object and your loved one, and adds context and visuals to the story or lore. 

What family heirlooms are you the keeper of? Do you have many? Artifct them today to ensure those heirlooms and their stories make it to the next generation. 

_________________ 

Heirlooms on your mind? You might enjoy these related ARTIcles by Artifcts: 

Gift Your Loved Ones a Why

Estate Planning of Things

How to Artifct Family History and Heirlooms

Grandma’s Secret, Not-So-Secret, Coin Collection

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© 2025 Artifcts, Inc. All Rights Reserved. 

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