A new Chubb study found that 78% of young, affluent American collectors consider an item's future value a top purchasing factor, yet fewer than half have insured their collections.
The gap, Chubb said, stems largely from misconceptions among uninsured collectors who believe their homeowners' policies already provide adequate valuables coverage.
The report, "The New Era of Luxury Collecting & Investment," surveyed 1,000 affluent Americans in their early 20s to mid-40s with annual incomes between $250,000 and more than $1 million, a group sometimes referred to as HENRYs (high earners, not rich yet), who actively collect items such as watches, jewelry, art, antiques, wine, and sports memorabilia.
Chubb's survey found collecting among this group functions less like a passing hobby and more like a disciplined, long-term investment strategy. Among art and antiques collectors, 59% have collected for five years or more and 21% for a decade or more. Sports memorabilia collectors showed similar staying power, with 57% collecting for five-plus years and 10% since childhood, while more than half of watch and jewelry collectors have collected for five years or longer. Wine collectors were close behind, with nearly half collecting for five years or more and 21% for a decade or longer.
Watch and jewelry collectors are also the most active buyers, with 21% making acquisitions quarterly and 13% purchasing monthly. Even so, personal enjoyment remains central to the pursuit: across every category, roughly three-quarters or more of collectors say they actively wear, display, or enjoy their items, rising to 81% among wine collectors, many of whom drink from their own collections.
Meanwhile, motivations vary somewhat by category, with 42% of watch and jewelry collectors citing status, prestige, and building expertise, 45% of wine collectors citing similar motives, 35% of art and antiques collectors citing the thrill of finding a rare piece, and sports memorabilia collectors nearly twice as likely as any other group to cite nostalgia and emotional attachment.
Younger collectors increasingly expect a digital-first purchasing and protection experience. Of those surveyed, 71% prefer to complete acquisitions digitally, 70% prefer to verify condition or provenance online, and 61% prefer digital authentication and grading, though 70% still prefer to source items in person.
That digital-first mindset extends directly to insurance: 94% expressed interest in purchasing valuables insurance, 58% said they would prefer to buy coverage online, and 38% said they want coverage available the moment they acquire a new item.
The most common misconception Chubb identified, that homeowners insurance already covers valuables adequately, has a concrete basis in how standard US policies are structured.
Most homeowners policies apply sublimits, separate caps that apply regardless of a policyholder's overall personal property coverage, to categories like jewelry and fine art, often as low as $1,000 to $2,500 for jewelry theft specifically.
A $15,000 engagement ring or a mid-range watch can therefore be covered for only a small fraction of its actual value unless a policyholder adds a scheduled personal property endorsement or standalone valuables policy, which typically costs 1% to 2% of an item's value annually and requires an appraisal. That structural gap is precisely what drives the 46% of uninsured collectors in Chubb's survey who mistakenly believe they are already covered, and it underscores why 38% simply have not gotten around to buying a policy and 34% underestimate their risk of loss.
Only 14% cited cost as a barrier. Theft and accidental damage remain top concerns regardless, ranking among the top three worries for 45% and 42% of collectors respectively.
The global valuables insurance market was valued at approximately $14.8 billion in 2025, with the collectibles category alone projected to grow at a compound annual rate of 8.5% through 2034, among the fastest-growing segments as trading card, vintage watch, and other collectible valuations continue to climb.
Chubb has already moved to close the gap the survey identifies. In 2024, it partnered with e-commerce platform Arta to embed valuables insurance directly into checkout flows for collectibles, art, jewelry, and luxury goods, letting buyers obtain coverage at the exact moment of purchase.
Amy McNeece, head of digital consumer, personal risk services at Chubb, said owning luxury items is both a way for today's collectors to express themselves and a smart financial move.
"They buy with an eye on future value, but our research shows many still overlook the insurance protection needed to safeguard these investments," she said.
Meanwhile, Laura Doyle, Chubb valuables collections product leader, said these young luxury buyers are redefining what it means to be a collector.
"They aren't simply buying things they love, they're building portfolios with the same discipline and long-term thinking you would expect from experienced investors," she said.
That investor mindset is exactly what makes the coverage gap notable -- a generation disciplined enough to hold a wine collection for a decade or track a watch's resale value quarter to quarter is, by its own admission, far less disciplined about verifying what its insurance actually covers.
