Insurance

[PWeso81]

I really need some advice on putting my collection on our home owners insurance. 90% of my collection is complete sets from '74 - current. The other 10% is vintage cards (singles) that steal the show...as far as value. Our agent says to itemize everything...which would take forever. So, I am looking for the easiest and safest my to do this. Any POSITIVE advice will help.

Thanks

Pat

[triwak]

I wanna hear people's advice on this too! So... bump!

[Peter_Spaeth]

Without a rider which can be expensive not sure collectibles are insured under your homeowners' policy. Consider a separate policy from someone like Association Insurance Administrators in Davidson, NC which will only require you to list individual items over a certain threshold.

[PWeso81]

Originally Posted by Peter_Spaeth

Without a rider which can be expensive not sure collectibles are insured under your homeowners' policy. Consider a separate policy from someone like Association Insurance Administrators in Davidson, NC which will only require you to list individual items over a certain threshold.

Not sure about collectibles...my wife's jewlery is covered. Is that along the same lines?

[Peter_Spaeth]

Well you would have to read your policy and ask your agent, I am just saying generally, as I understand it, collectibles are only covered with a rider and it may be less expensive and more convenient to buy a separate policy than to purchase a rider.

[PWeso81]

Thanks. We have talked about it. He says give him a list and then shoots a price. What do I ask for? I know that my value won't be the same as his.

[william_9]

Try these guys. I'm pretty sure they were set up at the National. I got a quote through them a few years back, seemed reasonable to me. http://www.collectinsure.com/

[JamesGallo]

I think this has been covered many times in the past. The best place is

Collectibles Insurance Agency

http://www.collectinsure.com/cost.ht...FeJN5QodpxUjhw

Reasonable rates and you don't need to itemize anything under $5,000.

James G

[PWeso81]

Thanks James

I know the topic has been brought up before...and I know it is usually followed by a website to check out. What I don't know is the best way to approach placing a value. Do you add everything up and insure one lump sum...or do insure different lots for different amounts? I would just like to hear how some of the other forum members handle this.

I use USAA for my homeowners insurance and they have gave me 100000 to cover my collection. They value it on Published guide prices. This is the only time I can say a beckett is worth it's weight in paper. Also it was easy to get it because of my registry and had most of my card scanned and documented.

[PWeso81]

Originally Posted by Pup6913

I use USAA for my homeowners insurance and they have gave me 100000 to cover my collection. They value it on Published guide prices. This is the only time I can say a beckett is worth it's weight in paper. Also it was easy to get it because of my registry and had most of my card scanned and documented.

Now we are talking. Although Beckett doesn't recognize graded cards...I like what you say.

[jcmtiger]

Bury the cards in your backyard with your cash. 1 year cd's .65 %, hide everything no insurance. Obama savings.

Joe

Hey I'm 69 years old, maybe I'm numbed by the last few years of downturn.

[Matthew H]

Maybe it may be worthwhile to look into simply insuring the really valuable vintage stuff. It may be easier to replace some of those modern sets versus paying to insuring them.

Insuring cards is a great idea because then you get to enjoy them at home rather than in a box at the bank. I'm interested to see what you find out.

[PWeso81]

Yeah, I have (2) complete Topps sets for every year from '74 - 2009. I keep one boxed and the other in a binder. 35 sets in binders took a ton of time. that is where the value (for me) comes into play. The vintage cards are in a safe.

[Matthew H]

Even if you insure them all, they will just give you the money to start over. The painstaking time you took is irreplaceable. It sounds like you have alot of cards. I guess it is worth insuring.

[ethicsprof]

i have my cards,packs with Collectibles Insurance co. and have found them to be top drawer!
i also like hearing peter s.' choice of the company in Davidson,NC for i believe strongly that all good things come from that wonderful college town!!!
best,
barry

Originally Posted by PWeso81

Now we are talking. Although Beckett doesn't recognize graded cards...I like what you say.

Sure they do. Its their graded card guide. For the card worth more than listed (not very often BTW) I provided prices from auctions, Ebay, and other sources for values. Worked great and was quite easy.

[Bilko G]

Originally Posted by Pup6913

Sure they do. Its their graded card guide. For the card worth more than listed (not very often BTW) I provided prices from auctions, Ebay, and other sources for values. Worked great and was quite easy.

[Leon]

My suggestion...

Scan them, put them on a nice, personal website, and then put them in a bank safe deposit box. It costs about $100 a yr. Works like a charm. If you ever get lonely you can always go visit them. regards

[timzcardz]

FYI . . .

Here's a previous discussion on insurance . . .

http://www.net54baseball.com/showthread.php?t=122587


And one on a claim that was filed and paid . . .

http://www.net54baseball.com/showthread.php?t=118262


As many here I use Collectibles Insurance Services, http://www.collectinsure.com/aboutUs.html

I did sign with them at The National, and it was pretty easy, and only requires itemization on items/sets, sets etc. that have a value in excess of $5K.

[JamesGallo]

Originally Posted by PWeso81

Thanks James

I know the topic has been brought up before...and I know it is usually followed by a website to check out. What I don't know is the best way to approach placing a value. Do you add everything up and insure one lump sum...or do insure different lots for different amounts? I would just like to hear how some of the other forum members handle this.

Place realistic replacement value as that is what they will look at. Usually everything doesn't get damaged or stolen so they will only pay out on what is taken or damaged.

As stated yes one lump sum unless you have a single card worth more then $5000. Anything worth over $5000 has to be listed and if you sell it you need to let them know about it.

Honestly I have a few things that I should list but have not done so, I really need to do that this week especially considering I had some stuff taken recently :-(.

James G

[JamesGallo]

Originally Posted by Bilko G

I really liked this mag and the prices were much better then SMR.

Your big problem is they don't make it anymore.

Beckett cut the mag but is supposed to add some level of graded card prices into the monthly I believe.

James G

[old-baseball]

I just started to look into this recently and got a price from the agent that we buy our home insurance from. They'll insure on an annual basis for $50 per $10,000 of value that I claim. How does this compare to what some of you are paying?

[dabigyankeeman]

Originally Posted by old-baseball

I just started to look into this recently and got a price from the agent that we buy our home insurance from. They'll insure on an annual basis for $50 per $10,000 of value that I claim. How does this compare to what some of you are paying?

Similar to Collectibles Insurance Services which is the company i use. I would trust them more than a regular insurance company that normally doesnt deal with specialized stuff like this in case of a claim.

[forazzurri2axz]

GOOD NEWS FOR EVERYONE(like me!!)LOOKING FOR INSURANCE

One of our fellow net 54 vintage collectors (t206, t205, caramels etc) is one of the principal owners in a financial planning/investment/insurance company. Over the last few months, after researching the ciollectibles insurance market, he has been meeting with The Hartford Co. (Hartford, Ct) proposing that they open a new division insuring baseball cards etc.......the last meeting they gave a tutorial to Hartford on PSA,( SMR, the registry, explanation of pop reports etc) ebay, VCP to show how there can be a up to date price guide , Net 54(primary purpose was to show interest in pre-war cards, number of people participating and viewing threads etc) SGC for obvious reasons etc.......my understanding is that Hartford is VERY INTERESTED in insuring collectibles, but probably only graded cards to begin with.....I will probably be the second customer (he will be #1)

I will try and get some further information as to when this will be available, cost etc but I believe they will be tying this in with VCP/PSA in some ways(at least that is in their plans from what I have heard. I imagine many people may be pleased with their present insurance but I imagine is as reputable as they come( no, I don't own stock in Hartford)

bill latzko

[JamesGallo]

Originally Posted by forazzurri2axz

GOOD NEWS FOR EVERYONE(like me!!)LOOKING FOR INSURANCE

One of our fellow net 54 vintage collectors (t206, t205, caramels etc) is one of the principal owners in a financial planning/investment/insurance company. Over the last few months, after researching the ciollectibles insurance market, he has been meeting with The Hartford Co. (Hartford, Ct) proposing that they open a new division insuring baseball cards etc.......the last meeting they gave a tutorial to Hartford on PSA,( SMR, the registry, explanation of pop reports etc) ebay, VCP to show how there can be a up to date price guide , Net 54(primary purpose was to show interest in pre-war cards, number of people participating and viewing threads etc) SGC for obvious reasons etc.......my understanding is that Hartford is VERY INTERESTED in insuring collectibles, but probably only graded cards to begin with.....I will probably be the second customer (he will be #1)

I will try and get some further information as to when this will be available, cost etc but I believe they will be tying this in with VCP/PSA in some ways(at least that is in their plans from what I have heard. I imagine many people may be pleased with their present insurance but I imagine is as reputable as they come( no, I don't own stock in Hartford)

bill latzko

Just to add to this that Collectibles insurance agency has been around for 50 years. There coverage is with Loyd's of London so it doesn't get much better then this. Plus you won't have any restrictions like only grade cards, not sure that would be too useful as I am sure many of us have some raw cards as well and it would not make sense to have one insurance for the graded and one for the raw.

Also as mentioned above I would not trust my typical home owners even with a rider I think they will give you a hard time if you have to file a large claim.

James G

[PWeso81]

Originally Posted by JamesGallo

Place realistic replacement value as that is what they will look at. Usually everything doesn't get damaged or stolen so they will only pay out on what is taken or damaged.

As stated yes one lump sum unless you have a single card worth more then $5000. Anything worth over $5000 has to be listed and if you sell it you need to let them know about it.

Honestly I have a few things that I should list but have not done so, I really need to do that this week especially considering I had some stuff taken recently :-(.

James G

Perfect! Thanks James. This is the advice I was looking for.

Also, I did not know Beckett recognized graded cards. I use Beckett's website...Don't want to step on anyones toes here but NOT very user friendly. In fact...well PM me if you really want to hear my rant. Thanks for everyones input.