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Thread: Collector's Insurance?

  
  1. #1




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    Collector's Insurance?

    Hello,

    Not sure where to post this so I am trying here. Does anyone recommend an insurance company that will cover cards and collectibles for a non- dealer?

    thank you.
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    Chris

  2. #2






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    You know I did some research into it because we had water in our basement but never signed up for anything. Standard insurance companies (at least around here don't) won't offer insurance for that type of thing.

    If I remember correctly, it wasn't that far out of line, I just decided to wait before I moved forward on it.

    One I initially started working with was, and one that you could look into as well : www.CollectInsure.com


  3. #3




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    Spoke to a State Farm insurance rep not to long ago. Collectibles can be insured as "personal property." I believe the cost was $0.75 for every $100 in collectibles.

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    Hello,

    Not sure where to post this so I am trying here. Does anyone recommend an insurance company that will cover cards and collectibles for a non- dealer?

    thank you.

    Chris

    Chris,
    do you have regular homeowner insurance? If so you can just call them and ask for a rider. I have a simple one that gives me 5,000 in replacement if anything should happen to them. Just told them I had a few key rc's of such and such and it was simple as that. The cost is minimal for that amount.

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    My insurance company wouldn't cover any of it. I could raise my limit, which I suppose would technically cover it but, they don't cover actual values of products.

    For instance, when I had water in my basement last year and lost all of my Star Wars collection, my insurance considered the "purchase" value the actual value of the items. So if I had a figure from years ago that came out for $2 or whatever and it was worth $1000, they'd cover it as the $2.

    So the collectible insurance covers what the item is actually worth. At least if you're looking to get that from an insurance loss or something along those lines.

  6. #6
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    My insurance company wouldn't cover any of it. I could raise my limit, which I suppose would technically cover it but, they don't cover actual values of products.

    For instance, when I had water in my basement last year and lost all of my Star Wars collection, my insurance considered the "purchase" value the actual value of the items. So if I had a figure from years ago that came out for $2 or whatever and it was worth $1000, they'd cover it as the $2.

    So the collectible insurance covers what the item is actually worth. At least if you're looking to get that from an insurance loss or something along those lines.

    Read below I got a rider so mine are covered for 5,000. It might not be a replacemen value but I am content with that amount.

    Homeowners policies typically cover up to a set limit for many specific categories of items. For example, your policy may cover a loss of up to $2,500 for your art, collectibles and antiques.
    If you determine that you need additional, specific coverage for antiques and collectibles, there are typically two methods:

    Work with your agent to add an “endorsement” (also called a rider) to your existing homeowners insurance policy for any items of value that otherwise won't be covered for their full value by your home policy.
    Buy a separate "insurance floater" for each of your most treasured items or collections.

    Don

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