CIS - Collectibles Insurance Services experiences?

[obcbeatle]

So I finally have a spreadsheet of inventory/value for my sports card collection, as well as some other non-sport collectibles I have. Per recommendations here on this forum, and from some members of OBC, I am planning to contact CIS next week to start the process. My first question is, does anybody care to share their experience with using CIS, or any other collectibles insurance company (for instance, your experience after filing a claim)? And my 2nd question is, is there anything else I need to do/be prepared for, before I contact any collectibles insurance company? Like take photo's, prepare for a visit from a rep., etc. Thank you for comments/suggestions!

[Peter_Spaeth]

I would go through an agent they will make it very easy for you. For CIS I used Jodi Muller, Finkelmeyer Insurance Agency. fia.com I believe

[raulus]

Check your policy limits carefully. When I first tried to get a policy with CIS, they put low limits on my coverage for theft. They claimed it was because I didn’t have a home security system. So I installed one and they raised the coverage for theft to the policy limits. Plus it saved me a bit on my homeowner’s insurance.

My current annual cost is about 0.25% of my coverage, so the rates are pretty good, all things considered.

[sb1]

My dealer policy went up a substantial amount for the first time in years this renewal. Did anyone else experience this? Only one small claim in 15 years.

[Flintboy]

Make sure you know what exactly is covered. I sell a few items a year (4-6) and I mainly wanted coverage in case Fed Ex or USPS damaged or lost the item. The agent then made my policy a “dealer policy”. It went to over a 1,000 a year from originally $250. Hard pass for me.

[hcv123]

Originally Posted by sb1

My dealer policy went up a substantial amount for the first time in years this renewal. Did anyone else experience this? Only one small claim in 15 years.

Holy crap it jumped big time. I suspect we are all paying for the Dallas theft. Theft in general as has been highlighted on this board and elsewhere has risen significantly at shows and through shipping.

[Aquarian Sports Cards]

Originally Posted by sb1

My dealer policy went up a substantial amount for the first time in years this renewal. Did anyone else experience this? Only one small claim in 15 years.

25% I called and bitched and they knocked it down to a 15% increase. I've never had a claim.

[rand1com]

My dealer policy went up significantly as well with no claims. A little ridiculous but not that many options.

[CardPadre]

Originally Posted by Flintboy

Make sure you know what exactly is covered. I sell a few items a year (4-6) and I mainly wanted coverage in case Fed Ex or USPS damaged or lost the item. The agent then made my policy a “dealer policy”. It went to over a 1,000 a year from originally $250. Hard pass for me.

If you really sell that infrequently, did you know you can purchase one-time shipping insurance on myslabs for up to $20k coverage?

[Flintboy]

I did not know that, thank you for that information.

[Jobu]

Several years ago they told me that they understand that many collectors trade and sell at least a little bit and that a collector's policy is fine for low levels of both.

Originally Posted by Flintboy

Make sure you know what exactly is covered. I sell a few items a year (4-6) and I mainly wanted coverage in case Fed Ex or USPS damaged or lost the item. The agent then made my policy a “dealer policy”. It went to over a 1,000 a year from originally $250. Hard pass for me.

[Brent G.]

If you live in a low crime area with no real weather or fire threat, it should be really cheap. I couldn’t believe how little State Farm charges me as part of renter’s insurance.

[raulus]

Also, don’t forget about the deductible. No different than car insurance, a higher deductible will lower your premiums, but also makes it harder to make a small claim for something like a card that gets swallowed up during shipping.

Personally, my biggest fear is a complete loss due to a fire or a thief, so my deductible is on the high side. But that means that I’m really not covered if something goes missing that is below the deductible.

[parkplace33]

Originally Posted by hcv123

Holy crap it jumped big time. I suspect we are all paying for the Dallas theft. Theft in general as has been highlighted on this board and elsewhere has risen significantly at shows and through shipping.

Has anyone been able to corroborate that (the payout from the Dallas theft)?

[Lorewalker]

Originally Posted by parkplace33

Has anyone been able to corroborate that (the payout from the Dallas theft)?

Unless the OP has info that the rest of us are not aware of, ya might want to take that with a grain of salt. Collectible Insurance Services is owned by Global Indemnity Group, which is a publicly traded company and they appear to be well capitalized.

With regard to the Dallas theft, do we even know that they were the ones who insured the dealer who was stolen from and if so did they pay they even pay the claim? I forget what the value was of the theft maybe around 2 million but I cannot imagine how that was result in their raising rates by 25% for one event.

[Gorditadogg]

Originally Posted by Peter_Spaeth

I would go through an agent they will make it very easy for you. For CIS I used Jodi Muller, Finkelmeyer Insurance Agency. fia.com I believe

Jodi knows her stuff.

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[obcbeatle]

Thanks for all the replies and useful info., much appreciated!