Will my business liability policy respond to an infringement claim?

Only in a narrow way. A standard commercial general liability policy covers some copyright and trade dress claims that come from your own advertising. It excludes patent infringement and most other intellectual property claims, which is the gap an IP policy fills.

Is my collection covered by my homeowners policy?

Partly. Standard homeowners policies often cap theft of jewelry at $1,500 and theft of silverware at $2,500 unless items are scheduled separately. Collectibles are also usually paid at actual cash value, which can fall well short of what a piece would bring from a buyer.

What's the difference between agreed value and actual cash value?

Agreed value pays the amount you and the insurer set when the policy starts, with no deduction for age or wear. Actual cash value subtracts depreciation from the replacement cost. For collectibles that hold or gain value, agreed value is the safer choice.

Do I need an appraisal?

For higher-value pieces, usually yes. Insurers commonly ask for a recent appraisal, receipts, or photos to set the agreed value. Many suggest updating appraisals every 3 to 5 years so the policy keeps pace with the market.

Will an IP policy cover a dispute that started before I bought it?

Typically not. Most intellectual property policies are written on a claims-made basis and exclude infringement you knew about before the policy began. Buying coverage before you launch a product or brand gives you the widest protection.

Intellectual Property and Collector's Insurance

Intellectual Property Insurance and Collector's Insurance in Memphis, TN

The ideas your business creates and the things you collect both carry real value. Both can also be lost in ways a standard policy won't pay for. Intellectual property insurance in Memphis helps business owners, inventors, and creators cover legal costs when a dispute arises over a patent or trademark. Collector's insurance protects art, coins, sports memorabilia, and stamps at a value you agree on up front. Jones Enterprises Insurance Brokers can help you find coverage for either one, or both.

Desk display with framed certificates, vinyl records, camera, and award plaque beside a window with city view

What Does Intellectual Property Insurance Cover?

Intellectual property insurance pays the legal costs of defending your business when someone says you infringed their patent, trademark, or copyright. Some policies also help pay to sue a company that copies your work. These cases get expensive because they turn on expert testimony and technical evidence, and they can run for years. A policy gives a small business the means to answer a claim instead of settling just to make it go away. Coverage limits, defense terms, and exclusions vary by insurance company.

Coverage Options for Ideas and Collections

The two halves of this coverage protect very different things. It helps to look at each part on its own.

Infringement Defense

Defense coverage responds when another party claims your product, logo, name, or content uses their protected work. It typically pays attorney fees, court costs, and expert witnesses. Many policies also pay damages or a settlement up to the limit. Most businesses look for this coverage first, since a claim can arrive from a competitor you've never heard of.

IP Enforcement

Enforcement coverage, sometimes called pursuit or abatement coverage, helps you go after someone who copies your patent or trademark. It pays the legal costs of bringing the case. Insurers usually want to see your registrations before they'll write it.

Collectibles Insurance

Collections often outgrow the limits in a homeowners policy. Collectibles insurance covers each piece, or the whole collection, for an agreed value. Many policies include accidental breakage, which matters for glass, ceramics, and framed art. Theft and fire are usually covered as well.

Coverage at Shows and in Transit

If you sell at shows or ship pieces to buyers, ask where your coverage applies. Many collector's policies follow the item while it's away from home. Some set a lower limit for pieces in the mail or in a dealer's hands.

How Jones Enterprises Helps

These policies aren't written by every insurance company, and the terms differ a lot between the ones that do. Our agents compare companies for you. Then they explain where each policy's limits, exclusions, and deductibles fall before you choose. Jones Enterprises Insurance Brokers offers this coverage alongside home, auto, life, and commercial policies.

For a collection kept at home, it makes sense to review your home insurance coverage at the same time, so you know what the homeowners policy already handles. Business owners who move tools, equipment, or inventory between locations can also look at inland marine insurance, which covers property on the move.

Intellectual Property Insurance and Collector's Coverage in Memphis

We work with business owners and collectors in Memphis, Germantown, Horn Lake, and Marion. Our service areas also include Nashville and Dallas, and the agency serves individuals in Tennessee, Texas, and businesses nationwide.

Frequently Asked Questions

Will my business liability policy respond to an infringement claim?
Only in a narrow way. A standard commercial general liability policy covers some copyright and trade dress claims that come from your own advertising. It excludes patent infringement and most other intellectual property claims, which is the gap an IP policy fills.
Is my collection covered by my homeowners policy?
Partly. Standard homeowners policies often cap theft of jewelry at $1,500 and theft of silverware at $2,500 unless items are scheduled separately. Collectibles are also usually paid at actual cash value, which can fall well short of what a piece would bring from a buyer.
What's the difference between agreed value and actual cash value?
Agreed value pays the amount you and the insurer set when the policy starts, with no deduction for age or wear. Actual cash value subtracts depreciation from the replacement cost. For collectibles that hold or gain value, agreed value is the safer choice.
Do I need an appraisal?
For higher-value pieces, usually yes. Insurers commonly ask for a recent appraisal, receipts, or photos to set the agreed value. Many suggest updating appraisals every 3 to 5 years so the policy keeps pace with the market.
Will an IP policy cover a dispute that started before I bought it?
Typically not. Most intellectual property policies are written on a claims-made basis and exclude infringement you knew about before the policy began. Buying coverage before you launch a product or brand gives you the widest protection.

Start With a Free Quote

Bring a list of your registrations, or a rough inventory of your collection, and one of our friendly agents will compare policies with you. A short call is enough to see which coverage fits.