Question about Collectibles Insurance Services

[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."

[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...

[ibuysportsephemera]

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]

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]

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

[rainier2004]

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.

[Leon]

Originally Posted by rainier2004

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.

I don't have the insurance personally, it's through our auction company, B and L. We shipped 2 cards, approximate value $1100 total. Anything over $400 needs signature confirmation and we had it. The cards never made it to the recipient. We filed a claim with all supporting documents (not many really)...and approximately 60 days later we got paid. There was a $200 deductible. We had sent the package through USPS first class with sig confirmation. So that was it.....no problems.

As an aside to the story, quite some time later I got a call from a US Postal Agent. They investigate internal crime in the USPS as opposed to a Postal Inspector who investigates external crime. It seems the 2 "lost" cards showed up on ebay and were being sold by one of those ebay consignment shops. The problem was, was that the true consignor was a Postal Employee. It seems he me might have been the culprit. I don't know how that part of the story ended.

[GregMitch34]

Someone claims it doesn't cover theft? Surely that's wrong or what's the point? I presume "mysterious disappearance" means when the cards are gone but you do not file police report etc. Correct? And it does cover actual theft?

[smtjoy]

I had $700 worth of cards stolen out of my truck a few years back, they paid me in full about 60 days later. I have had a policy for about 6 years now and feel its well worth it.

[PhilNap]

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."