Collectable insurance

[3rdinfintry]

Originally Posted by BeanTown

Spent a little time on the site getting rough estimates. I hope they consider Stamps like baseball cards. For 1500.00 a year, you can get a 1M policy. I will be talking to an agent later today as I missed his early AM call. I hope they cover items in trasit like mentioned above.

Ask about the Deductible, scheduling, is it basic broad or special form


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[packs]

Do they take your word for values? I bought my Cobb Green for $1,600 but I would want to insure it for twice that. How do they decide what it's worth?

[BeanTown]

Ok, here is the skinny, as I just got off the phone with the agent Doug. We had a nice Q&A for about 20 minutes.

Baseball cards and memorabilia will be under general and not stamps. The best rate is the collector (not dealer) rate where at least 50% is stored at the bank box. The bank box rate is best value. Any items in value over 25K should be declared and if not, and a claim happens they will not payout more than 25k for one item.

They do not need an itemized list for items of lesser value. The policy also comes with 60k Lost or damaged in shipping policy. When you mail out a card, it must be shipped USPS or FedEx with tracking and adult signiture. No UPS as they are not good with prior expierences.

The policy has a 60k in transit clause if you are moving pieces of your collection from one location to another. You can have ten different locations you store your collection.

So, using 1M as the policy limit with at least half the collection being at the bank, and the home has dead bolts, smoke detector, and an alarm. The annual premium is 2184.00 This also includes the 60k transit and shipping policy.

They are price competitive I was told, which means if you find a better deal from a reputable company, then let them see it. Hope all this helps, as Im onto getting another quote from my current State Farm company I deal with.