View Full Version : Is your collection insured?
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11-17-2005, 09:48 AM
Posted By: <b>Kim</b><p>I've been wondering if I should get these cards insured until we sell them.<br /><br />Do others have their collections insured through homeowners insurance or a personal articles policy? <br /><br />Any idea what the cost would be?<br /><br />
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11-17-2005, 09:53 AM
Posted By: <b>Cat</b><p>My homeowners (State Farm) insurance won't cover cards.
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11-17-2005, 10:02 AM
Posted By: <b>warshawlaw</b><p>there are a couple of insurers there.
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11-17-2005, 10:17 AM
Posted By: <b>James Feagin</b><p>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.
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11-17-2005, 10:35 AM
Posted By: <b>Mike Masinick</b><p>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...
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11-17-2005, 02:00 PM
Posted By: <b>Dave</b><p>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. <br /><br />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.
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11-17-2005, 02:02 PM
Posted By: <b>Kim</b><p>That helps me!<br /><br />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.<br /><br />
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11-17-2005, 05:05 PM
Posted By: <b>Cobby33</b><p>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.
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11-17-2005, 08:19 PM
Posted By: <b>pete</b><p>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.
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11-17-2005, 08:50 PM
Posted By: <b>Anonymous</b><p>Kim.<br /><br />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 <img src="/images/wink.gif" height=14 width=14>
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11-17-2005, 09:00 PM
Posted By: <b>DJ</b><p>Interesting. <br /><br />What happens when my Pro Graded cards disappear. <img src="/images/happy.gif" height=14 width=14><br /><br />Who values the collection? Do we hire Leon?<br /><br />DJ<br /><br />
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11-17-2005, 09:11 PM
Posted By: <b>Josh K.</b><p>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:<br /><br /><a href="http://www.slantycouch.com/articles/05_insurance.htm" target="_new" rel="nofollow">http://www.slantycouch.com/articles/05_insurance.htm</a>