Bad Collectors Insurance

[oldjudge]

You ruined the card and they cover it? That's s pretty generous policy,

[Snowman]

This is a pretty good video where a comic book collector interviews someone at CIS about insuring his collection through them and what they offer collectors. Worth a watch if you're interested in insuring your collection.

https://www.youtube.com/watch?v=i07G...CollectsComics

[DanP]

I just got off the phone with CIS. They provided a quote over the phone. I have been with American Collectors Insurance for over five years. I could not even get ahold of someone (phone or email) in March to try and raise my coverage. My dealings with them have been absolute torture!

CIS rates are much better than ACI. My insured value is almost double what it was with ACI and the CIS premium is only 10% higher.

I hope this helps!

[philliesfan]

About wo weeks ago, I went with CIS.
It gives me a little peace of mind now when it comes to being away from the house or from fire and theft.
I hope to never have to file a claim though.
Bob

[brianclat11]

Originally Posted by Snowman

This is a pretty good video where a comic book collector interviews someone at CIS about insuring his collection through them and what they offer collectors. Worth a watch if you're interested in insuring your collection.

https://www.youtube.com/watch?v=i07G...CollectsComics

Good video that explains why Homeowners coverage is generally not enough. Thanks for that....

[jefferyepayne]

If you're looking around for better insurance, you might want to check out Antiques & Collectibles Insurance Group https://aciginsurance.com/

I've been using them for nearly a decade and check their prices every year against CIS and they are always lower. You do need to individually itemize and send them an image for any single item >$5K which is initially a bit of a hassle and for some collectors here probably too much work for the savings. I think CIS only makes you do this for items >$25K.

I have not filed any claims with them, though, so can't comment on the claims process. They are associated with an antiques association so would assume they are pretty decent to deal with for claims but don't have any proof of that.

jeff

[mrreality68]

Originally Posted by jefferyepayne

If you're looking around for better insurance, you might want to check out Antiques & Collectibles Insurance Group https://aciginsurance.com/

I've been using them for nearly a decade and check their prices every year against CIS and they are always lower. You do need to individually itemize and send them an image for any single item >$5K which is initially a bit of a hassle and for some collectors here probably too much work for the savings. I think CIS only makes you do this for items >$25K.

I have not filed any claims with them, though, so can't comment on the claims process. They are associated with an antiques association so would assume they are pretty decent to deal with for claims but don't have any proof of that.

jeff

I will check them out

Thanks

[Yoda]

One further point about insuring your collection under your HO policy: We all have had a situation whereby a precious card suddenly can't be found, gone as if by mystic forces. We search everywhere, we are close to a panic attack, however, we remember our cards are covered by HO insurance, so we submit a claim. The insurer will always automatically reject it under the policy defense of "mysterious disappearance".
What is needed is a fine arts personal floater policy, Cobbs rather than Picassos, so that the cards are covered both inside the premises and out. "Mysterious disappearance" claims still may not be covered but the loss adjuster will at least listen to the circumstances and you might have a chance.

[egri]

Has anyone used USAA for collectibles insurance? I’ve never had a problem with them for my auto and home insurance.

[conor912]

Originally Posted by Yoda

One further point about insuring your collection under your HO policy: We all have had a situation whereby a precious card suddenly can't be found, gone as if by mystic forces. We search everywhere, we are close to a panic attack, however, we remember our cards are covered by HO insurance, so we submit a claim. The insurer will always automatically reject it under the policy defense of "mysterious disappearance".
What is needed is a fine arts personal floater policy, Cobbs rather than Picassos, so that the cards are covered both inside the premises and out. "Mysterious disappearance" claims still may not be covered but the loss adjuster will at least listen to the circumstances and you might have a chance.

Really?! The odds of me mysteriously losing a Cobb are about the same as me mysteriously losing one of my kids.

[todeen]

Originally Posted by oldjudge

You ruined the card and they cover it? That's s pretty generous policy,

I was preparing it for sale, which I believe is covered. I got adhesive stuck to it and swore like a sailor in front of my children.

As for establishing value of card, my claim manager wanted three sources. I used VCP, ebay recent sales, and Beckett. Of the three, Beckett was the worst. They had not updated prices since 2018. Luckily the last sale reported on Beckett must have been a Probstein shill bid sale because it was higher than the VCP average sale price.

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[MikeGarcia]

Originally Posted by todeen

I was preparing it for sale, which I believe is covered. I got adhesive stuck to it ;


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..Everybody does one of those nightmares once ; hard lesson learned ;.... Ever since my own ''incident'' I will not have any tape in the same room in which there is a baseball card or vintage photo.................it's been working. I still drop stuff though but I've learned to always work over a big soft fluffy towel ....always...

..

[todeen]

Originally Posted by MikeGarcia

..Everybody does one of those nightmares once ; hard lesson learned ;.... Ever since my own ''incident'' I will not have any tape in the same room in which there is a baseball card or vintage photo.................it's been working. I still drop stuff though but I've learned to always work over a big soft fluffy towel ....always...



..

I couldn't believe it when it happened. I was so upset with myself. Stupid stupid mistake. Thanks for the advice, I'll have to remember to use the fluffiest of towels.

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