They'll only require proof of ownership when filing a claim (credit card or Paypal receipt, a scan of the card, etc).
The amount that they pay out won't depend on what you paid, as they will determine fair market value at the time of the loss based on recent comps. This is a HUGE PLUS if your cards have increased in value, or you bought for under market.
This is what sets CollectInsure apart from having, say, a rider on your homeowner's policy for your card collection - which will only pay out what you spent on the card(s).
Quote:
Originally Posted by Jobu
Al, I don't know about the claim process. Someone did describe it in an old thread here and it seemed smooth. For the collector-grade insurance they only make you schedule things that you value at $5 k or more. I would assume a claim could be filed by demonstrating the loss and showing the sale price of the item, but I am not sure what they require in the way of proof. Depending on the value of the item you ship, you have to ship it using certain carriers or service levels to be covered, so you can end up having to pay for signature confirmation. There is a chart in the policy that clearly says how they cover different shippers.
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