Question about Collectibles Insurance Services

4815162342 · #1 10-21-2013, 07:45 PM

I don't think so. I believe they would only be covered during shipping; once they are in the dealer's hands, they would be his (and his insurance's) responsibility.

Tony Gordon · #2 10-21-2013, 07:56 PM

I'm of the opinion that this company is a scam. Check out the "Exclusions." They pretty much exclude everything that could go wrong.

http://www.collectinsure.com/exclusions.aspx

rainier2004 · #3 10-21-2013, 08:11 PM

Quote:

Originally Posted by Tony Gordon

I'm of the opinion that this company is a scam. Check out the "Exclusions." They pretty much exclude everything that could go wrong.

http://www.collectinsure.com/exclusions.aspx

This company protects you from theft, fire and flooding...I guess I'm not too worried about my cards in the event a nuclear bomb goes off. I'm curious what part of that list you think a company should cover? They would also cover cards, shipped via registered mail or other approved method stated in their guidelines, and I believe they would even cover them while at the show as long as they are declared.

ibuysportsephemera · #4 10-21-2013, 08:16 PM

Quote:

Originally Posted by Tony Gordon

I'm of the opinion that this company is a scam. Check out the "Exclusions." They pretty much exclude everything that could go wrong.

http://www.collectinsure.com/exclusions.aspx

I have used them for years. They cover the most important things for me...fire, flood and theft.

Jeff

brob28 · #5 10-21-2013, 08:27 PM

�Voluntary parting with covered property

I would hazard a guess that this would apply to your situation Kevin.

rainier2004 · #6 10-21-2013, 08:59 PM

Quote:

Originally Posted by brob28

�Voluntary parting with covered property

I would hazard a guess that this would apply to your situation Kevin.

I guess I didn't interpret it that way. When I talked to a rep at the company, he informed me that it would be covered in the mail and say on display at a museum, not that I have anything like that. It seems like at a show may be covered, but that may pushing it.

Tony Gordon · #7 10-21-2013, 08:31 PM

I'd be interested to hear from someone who has made a claim. Theft is clearly excluded because it is a "criminal act" or "mysterious disappearance" and fire and flooding may be excluded from their catch-all phrase at the end that states "This is not a complete list of exclusions and exclusions can vary by policy."

queencitysportscards · #8 10-21-2013, 08:35 PM

Most traditional insurance companies will not cover sports cards & memorabilia...they won't touch it. IMO, they are one of the best "shots" at covering your cards & memorabilia at all...

ibuysportsephemera · #9 10-21-2013, 08:59 PM

Quote:

Originally Posted by queencitysportscards

Most traditional insurance companies will not cover sports cards & memorabilia...they won't touch it. IMO, they are one of the best "shots" at covering your cards & memorabilia at all...

You are right on the money Hank...if I had to insure through my homeowners it would cost me 3x as much.

Jeff

ibuysportsephemera · #10 10-21-2013, 09:01 PM

Quote:

Originally Posted by Tony Gordon

I'd be interested to hear from someone who has made a claim. Theft is clearly excluded because it is a "criminal act" or "mysterious disappearance" and fire and flooding may be excluded from their catch-all phrase at the end that states "This is not a complete list of exclusions and exclusions can vary by policy."

You have to read the whole policy..and I spoke to them about the exclusions. Fortunately I have never had a claim, but I am very comfortable with the coverage of the policy.

Jeff

Leon · #11 10-21-2013, 09:04 PM

I made a claim for a loss in shipping. They paid fine.

rainier2004 · #12 10-22-2013, 09:23 AM

Quote:

Originally Posted by Leon

I made a claim for a loss in shipping. They paid fine.

I'd be curious to hear the details as I have wondered about this if its ok with you.

Was the card shipped to or from you? I am assuming it was shipped in one of the policies approved methods like reg mail, etc.? If the card was over 5k, did you have to declare it with them as a scheduled item prior to ship? Any help is always appreciated.

PhilNap · #13 10-21-2013, 09:34 PM

Quote:

Originally Posted by Tony Gordon

I'd be interested to hear from someone who has made a claim. Theft is clearly excluded because it is a "criminal act" or "mysterious disappearance" and fire and flooding may be excluded from their catch-all phrase at the end that states "This is not a complete list of exclusions and exclusions can vary by policy."

You are reading from a punch list of exclusions. If you read the policy it states "Dishonest or criminal acts . . . by you, your employees, your agents, your family, and household members, or any person or persons to whom the Covered Property may be entrusted."

dabigyankeeman · #14 10-23-2013, 04:59 PM

Quote:

Originally Posted by ibuysportsephemera

I have used them for years. They cover the most important things for me...fire, flood and theft.

Jeff

Me too, thats exactly how I feel. Fire, flood, theft, thats what I am worried about. I have heard good stories about them dealing with these problems.

the 'stache · #15 10-24-2013, 03:31 AM

Can anybody with this insurance, or knowledge of their policy, comment if cards in a storage facility, or a bank, would be covered? Or do they all have to be in your domicile if not being shipped? My high value cards are going to be stored in a safe deposit box at my bank. I would like to put a safe full of my pre-war and vintage cards of lesser value in my locked storage unit as it's climate controlled, and has a sprinkler system. It also has a video surveillance system, and access to the facility is restricted to people who store with them. That seems to trump any kind of protection I could have at home.

I know that Uhaul offers insurance on things in storage, but I would prefer to have one policy covering the totality of my collection.

Thanks!

Exhibitman · #16 10-24-2013, 08:18 AM

No carrier will cover theft by embezzlers or by people you entrust the cards to unless you have them under a fidelity policy or fidelity bond. Thefts by strangers and mysterious disappearances are covered.

You must read the policy to understand the scope of its coverage. I am very comfortable with the scope of coverage offered in the policy I have.

4815162342 · #17 10-24-2013, 08:36 AM

Quote:

Originally Posted by Exhibitman

No carrier will cover theft by embezzlers or by people you entrust the cards to unless you have them under a fidelity policy or fidelity bond. Thefts by strangers and mysterious disappearances are covered.

You must read the policy to understand the scope of its coverage. I am very comfortable with the scope of coverage offered in the policy I have.

+1

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