Insurance Question

[philo98]

Originally Posted by YazFenway08

I have read through many of the previous threads on insurance. I have had a good dialogue with CIS (Collectors Insurance)

My situation is this: I am going to be moving and I need a secure place to store my stuff. I identified a brand new, climate controlled, good security storage facility that would work. I have decent volume of nice but not mind blowing items…too much for a safe/bank setup.

The issue: CIS caps their coverage for “storage facilities” at $100k, but no limit at my dwelling …even though I can almost guarantee that the items would be far more secure at the 3rd party facility. I really don’t want to separate everything and keep at multiple locations

Anybody else have experience with this type of situation? I really like CIS but would entertain another entity if anyone has experience with a group that might have more flexibility in the insurance threshold.

Opinions appreciated.

I have CIS and in a similar situation. I’ve told CIS I have my collection in a storage unit (had to give them the address and details on the building) plus part of my collection is in 2 safe deposit boxes at my local bank which I also informed CIS. My policy is for $100k due to the storage unit restriction but the value of my collection I had estimated at $190K. About half the value of my collection is split between the two locations. My reasoning is something isn’t going to happen at both locations simultaneously.

I do need to revisit with them on my policy soon but I have been completely transparent with them on the multiple locations which they said is fine. I’ve considered storing at my sisters house at one point but the storage facility is actually more secure plus I have a lot of it in a safe within the storage facility.

I’m not sure if safe deposit boxes at a bank would help in your situation or not.

I do plan to leave the US for a long period soon so I’m also interested if anyone else has recommendations.