Insurance question

[jethrod3]

I didn't know that the collectibles insurance would cover what's in a bank's safe deposit box! Good info here!

[todeen]

I have American Collector's Insurance. I had to file a claim for $750 when I ruined a card preparing to sell it. It took a lot of diligence on my part to move the claim through the system. I have them for classic car insurance, and they are great to work with. So I'm not sure if it is just the department, or if it is was COVID hiring problems, or what. But I got paid.

I insured for $10k in 2019. I really need to increase that number after the COVID surge. My renewal is coming up in June.

[jchcollins]

+1 for CIS.

They ran a deal being advertised by Beckett a few years back, and I decided it was time I got my stuff insured. While I would be ticked if a natural disaster destroyed my entire collection, I don't have anything uber rare or 1/1 to the point where money could not replace it - so for me, insuring the cards and keeping them in the house and not across town in a safe deposit box where they would never see the light of day is ideal.

I've renewed twice now I think, last year increasing my total value by a few grand, and this year due to the market conditions I just left it the same. They are easy to work with and friendly when you call to ask questions. No item has to be individually declared I don't think unless it's worth north of $25k. Also I like the fact that as a collector (not if you are a legit seller / business) you are covered on incidental items from your collection that you sell / get rid of, and so I no longer have to buy USPS insurance on expensive cards that I sell, but only signature confirmation. This is a nice perk. I don't sell a ton, and never do it really with profit in mind (generally only paying down newly incurred card debt....) so not having to pony up for expensive USPS insurance anymore is nice.