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#1
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Insuring your collection
Posted By: Anonymous
The last thread by Cathy caused me to ponder; Does anyone actually insure their collections?.. As I doubt it would be covered by a simple homeowners policy and may require a Rider (sp). It also occured to me that if you are constantly selling, trading or buying you have to frequently notify the Ins. guy of your current checklist. Any insight? |
#2
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Insuring your collection
Posted By: Josh K.
if you do a search of the site, you will find numerous past discussions regarding insurance and the various companies that insure bb cards. There are two or three companies that specifically insure collections - with no riders, no inventory, etc. I think numerous board members (myself incl.) insure their cards. |
#3
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Insuring your collection
Posted By: JimB
If you go to vintage links on this site, there are links to two collectibles insurance agencies. You can read about their policies there. I believe a lot of collectors insure their collections. |
#4
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Insuring your collection
Posted By: fdnyladder7
Thanks for the replies gang. Called Linda @ CIA 1-888-837-9537 ... For "personal" collections kept in the home approx. $40-50/yr for $10K coverage. Dealer policies are more $ and complicated of course. |
#5
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Insuring your collection
Posted By: Josh K.
If you are a collector who buys and sells, I dont think you would have to get a dealer policy. Of course, if you are a full time dealer or do a lot of shows, that would likely change thinks. By the way, I went with CIA as well - I thought that they provided the best coverage for the money. |
#6
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Insuring your collection
Posted By: cmoking
Insurance always goes smoothly until something happens. Then it may not be as smooth. |
#7
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Insuring your collection
Posted By: Josh K.
I believe in some of the earlier posts on this topic there were a couple of collectors who had experienced a loss and stated that the claim process went very smoothly. |
#8
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Insuring your collection
Posted By: Jeff
As a former property (homeowners) claims adjuster, my best advice is to have sufficient documentation to support your collection. An inventory is essential, as are pictures. I just took a whole bunch of digital photos of my entire house, burned them onto a CD, and put it in a safety deposit box along with an inventory of my collection. You have to be prepared to prove what you had in the event of a loss. I can tell you from experience that baseball cards, coins and comic books are one of the most frequently claimed things in fraudulent theft losses, so they are automatically a little suspect. |
#9
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Insuring your collection
Posted By: bruce dorskind
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#10
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Insuring your collection
Posted By: Josh K.
For what its worth, CIA uses Hartford as the carrier for its policies. I believe that they have the highest rating given to insurance companies. |
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