Is your collection insured?

Archive · #1 11-17-2005, 09:48 AM

Posted By: Kim

I've been wondering if I should get these cards insured until we sell them.

Do others have their collections insured through homeowners insurance or a personal articles policy?

Any idea what the cost would be?

Archive · #2 11-17-2005, 09:53 AM

Posted By: Cat

My homeowners (State Farm) insurance won't cover cards.

Archive · #3 11-17-2005, 10:02 AM

Posted By: warshawlaw

there are a couple of insurers there.

Archive · #4 11-17-2005, 10:17 AM

Posted By: James Feagin

I am insured by Collectible's Insurance Agency of Westminster, MD. A few more folks in here have that same insurance. In cost me $66 per year for my $20Kish collection.

Archive · #5 11-17-2005, 10:35 AM

Posted By: Mike Masinick

Have you or anyone else ever made a claim to Collectors Insurance in MD? I'm looking at their services, but without it being a BIG name, I'm hesitant...

Archive · #6 11-17-2005, 02:00 PM

Posted By: Dave

I checked with my State Farm Agent, and my policy has a specific limit on cards. The max coverage on the standard policy was $1500. But, I could add coverage if I wanted. Based on my own estimate of $40k, it would have cost $300 per year. If I needed to make a claim, I'm not sure how we would agree on value, didn't get that far.

I thought about a safety deposit box, but want to be able to get the cards on short notice. Bought a fireproof gun safe instead. Cost about the same as one year's policy.

Archive · #7 11-17-2005, 02:02 PM

Posted By: Kim

That helps me!

I have a small fire-proof safe but the sheets of cards won't fit. I might just go buy a bigger one. Then when we sell the cards, we'll have the safe to use for other things.

Archive · #8 11-17-2005, 05:05 PM

Posted By: Cobby33

If you do insure them, make sure you have a detailed and current list, as well as scans or photos (digital or otherwise). Also, some insurers require a written appraisal. Always check with your agent/ins. company the limtis and exclusions, etc.

Archive · #9 11-17-2005, 08:19 PM

Posted By: pete

make a video (or dvd) of every card you own...when i first got married and had to purchase insurance i made a video of all my belongings (including my '80's baseball collection) this way if anything happens including a fire, you have some proof of what you own and the insurance wont try to screw you out on your claim.

Archive · #10 11-17-2005, 08:50 PM

Posted By: Anonymous

Kim.

you might consider a safe deposit box at a local bank..possibly a cheaper short term solution...or maybe just sell me your collection and end the worries

Archive · #11 11-17-2005, 09:00 PM

Posted By: DJ

Interesting.

What happens when my Pro Graded cards disappear.

Who values the collection? Do we hire Leon?

DJ

Archive · #12 11-17-2005, 09:11 PM

Posted By: Josh K.

Im insured by collectibles Ins. Very reputable company and they have the highest rating that can be awarded to an insurance company. Here is a comparison of various insurance options:

http://www.slantycouch.com/articles/05_insurance.htm

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