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#1
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I have American Collectors insurance to cover my collection. I also use them to cover my wife's classic car. The auto insurance side was fantastic when we had to use it after a crash last year. This gave me unfounded expectations for their "collections" side idf the business.
I had to file a claim on a card I ruined and the collection side of the company has been 1 out of 5 stars so far. Their website does not work. It will not register that I have two plans with them, therefore I can't file through their website. Everything must be by telephone. It has been 5 weeks and counting since I filed my claim. Zero communication. Two weeks after filing my claim, I had to call back and track down my claim handler. He told me to submit information to xyz email and include my claim # in the email subject line. However, my email was rejected because I had a 12 digit claim#, and not 11 digits like their system was defaulted to. I called back, and got the email issue cleared up. I had to send my info backdoor. So then he asks me to tell him the value of my card, and then to submit evidence of its value. That is easy enough, but I truly think if they don't know how to track down a valuation this might not be the business to be in if they must rely on the submitter to provide all info. If I was trying to commit insurance fraud, wouldn't this be an extremely easy way to do it? It just seems like they want to fail an external audit of business practices. Waiting for some sort of communication stating whether my claim has been accepted or rejected. Close to 10+ days since last contact was made. No emails. No phone calls. No letters. Sent from my SAMSUNG-SM-G930A using Tapatalk
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Barry Larkin, Joey Votto, Tris Speaker, 1930-45 Cincinnati Reds, T206 Cincinnati Successful deals with: Banksfan14, Brianp-beme, Bumpus Jones, Dacubfan (x5), Dstrawberryfan39, Ed_Hutchinson, Fballguy, fusorcruiser (x2), GoCalBears, Gorditadog, Luke, MikeKam, Moosedog, Nineunder71, Powdered H20, PSU, Ronniehatesjazz, Roarfrom34, Sebie43, Seven, and Wondo |
#2
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I use CIS, Collectibles Insurance Services. I've never had to file a claim yet, but I have dealt with customer service multiple times and they're always extremely helpful and great to work with. I would definitely recommend them based on my interactions.
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#3
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I used American Collectors for my classic car years back and they were good but was warned not to use for anything other than cars. So I do not have experience on the other sides of their business. Good Luck and hope it works out soon
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Thanks all Jeff Kuhr https://www.flickr.com/photos/144250058@N05/ Looking for 1920 Heading Home Ruth Cards 1917-20 Felix Mendelssohn Babe Ruth 1921 Frederick Foto Ruth Joe Jackson Cards 1916 Advertising Backs 1910 Old Mills Joe Jackson 1914 Boston Garter Joe Jackson 1915 Cracker Jack Joe Jackson 1911 Pinkerton Joe Jackson Shoeless Joe Jackson Autograph |
#4
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Sorry to hear of your problems.
I also have American Collectors insurance. I have had some difficulty working with customer service in the past, especially when updating policies etc. However the one time I had to make a small claim ($400 or so) it went very smoothly and was paid within a few days. Hope yours is resolved quickly. Sent from my SM-G960U using Tapatalk |
#5
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I have used CIS for years. Have made a claim, no issues. Have adjusted insured amount many times due to fluctuation in inventory and also absolutely no priblem. The best! Jeff W
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#6
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Jeff...email me information on them. Maybe I should start using someone, eh? Is it affordable?
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#7
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I have a follow-up question for you guys. My collection is growing but seems to be covered by personal property within my Homeowner's policy. What is the main benefit to getting additional coverage outside of that?
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#8
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You may want to be certain about that coverage as almost all personal property home owners plans have an exclusion for “art and collectibles “ after a low limit of maybe a few thousand dollars. Make sure whatever you get is in WRITING.
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#9
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If it is not scheduled on your homeowners insurance (you pay extra) I think there is a great chance homeowners won't cover it. I use Safeco (Liberty Mutual subsidiary) and they definitely don't insure that kind of stuff UNLESS scheduled. And I am not sure they would do cards but I have jewelery and art scheduled...have had a claim or two and all was fine.
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Leon Luckey |
#10
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Great info. Thanks guys!
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#11
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I worked in the insurance industry for 28 years, first with Cigna and then Chubb, although I dealt more with commercial lines rather than personal. The problems with insuring your collection under your HO policy are several; first, the limit under your HO policy is normally a percentage, usually 10-20%, of your personal contents coverage and rarely adequate for a decent collection, second, you really need a named player policy for your HOF'er and star player cards rather than the the blanket unnamed coverage under your HO policy. The problems really start at time of loss when trying to establish replacement cost. Obviously, you need to keep scrupulous records of book values for insurance and tax purposes when presenting a claim. The best approach is usually adopted is to use PSA and VCP auction results as to a guide towards replacement cost valuations. From what I have heard, Beckett's program is pretty good and will tailor a policy with the specific requirements necessary to protect fully your precious collection.
Hope this helps a little. |
#12
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It’s an insurer. Any decent size claim you have to expect to throw some elbows to get it done. Hell, I once had to raise the bad faith specter with State Farm to get a claim processed timely and just recently I had to open a complaint with my state insurance commission to get a simple call back from MetLife. Once you bring them to heel they settle down
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Read my blog; it will make all your dreams come true. https://adamstevenwarshaw.substack.com/ Or not... Last edited by Exhibitman; 08-20-2021 at 08:52 AM. |
#13
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You ruined the card and they cover it? That's s pretty generous policy,
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#14
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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 |
#15
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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!
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Dan |
#16
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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 |
#17
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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. Sent from my SAMSUNG-SM-G930A using Tapatalk
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Barry Larkin, Joey Votto, Tris Speaker, 1930-45 Cincinnati Reds, T206 Cincinnati Successful deals with: Banksfan14, Brianp-beme, Bumpus Jones, Dacubfan (x5), Dstrawberryfan39, Ed_Hutchinson, Fballguy, fusorcruiser (x2), GoCalBears, Gorditadog, Luke, MikeKam, Moosedog, Nineunder71, Powdered H20, PSU, Ronniehatesjazz, Roarfrom34, Sebie43, Seven, and Wondo |
#18
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I'm not sure how linearly the ratio scales, but I was quoted that $1,000 per year covered around $350k worth of collectibles unless you take out a dealer's policy, which I think was about double the cost.
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#19
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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... .. |
#20
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Good video that explains why Homeowners coverage is generally not enough. Thanks for that.... |
#21
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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 |
#22
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Thanks
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Thanks all Jeff Kuhr https://www.flickr.com/photos/144250058@N05/ Looking for 1920 Heading Home Ruth Cards 1917-20 Felix Mendelssohn Babe Ruth 1921 Frederick Foto Ruth Joe Jackson Cards 1916 Advertising Backs 1910 Old Mills Joe Jackson 1914 Boston Garter Joe Jackson 1915 Cracker Jack Joe Jackson 1911 Pinkerton Joe Jackson Shoeless Joe Jackson Autograph |
#23
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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. |
#24
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Has anyone used USAA for collectibles insurance? I’ve never had a problem with them for my auto and home insurance.
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Signed 1953 Topps set: 264/274 (96.35 %) |
#25
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Sent from my SM-G955U using Tapatalk |
#26
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Sent from my SAMSUNG-SM-G930A using Tapatalk
__________________
Barry Larkin, Joey Votto, Tris Speaker, 1930-45 Cincinnati Reds, T206 Cincinnati Successful deals with: Banksfan14, Brianp-beme, Bumpus Jones, Dacubfan (x5), Dstrawberryfan39, Ed_Hutchinson, Fballguy, fusorcruiser (x2), GoCalBears, Gorditadog, Luke, MikeKam, Moosedog, Nineunder71, Powdered H20, PSU, Ronniehatesjazz, Roarfrom34, Sebie43, Seven, and Wondo |
#27
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The reason I ask is because my wife and I have horses and our homeowners policy is actually a farm policy issued by Markel. I'd love to add a collectibles rider on if I could. And, FWIW, my experience is that Markel is real easy to work with. I had to replace the roofs (rooves?) on my house and barn and the contractor was amazed at how easily Markel approved the claim and issued the check. |
#28
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Sent from my SAMSUNG-SM-G930A using Tapatalk
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Barry Larkin, Joey Votto, Tris Speaker, 1930-45 Cincinnati Reds, T206 Cincinnati Successful deals with: Banksfan14, Brianp-beme, Bumpus Jones, Dacubfan (x5), Dstrawberryfan39, Ed_Hutchinson, Fballguy, fusorcruiser (x2), GoCalBears, Gorditadog, Luke, MikeKam, Moosedog, Nineunder71, Powdered H20, PSU, Ronniehatesjazz, Roarfrom34, Sebie43, Seven, and Wondo |
#29
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Sent from my SM-G955U using Tapatalk |
#30
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I have used Finkelmier ( FIA ) for 15 years and have been very satisfied with the rates , the coverage provisions , and their customer service . Plus Tom the father was / is a collector as well and understands the market and issues that collectors encounter . I highly recommend them . They’re issuing policies thru Markel now and so far no problems .
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#31
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Update on insurance: it had been 12 business days since last communication with insurance on August 12. Acknowledgment of my claim started on July 10. On Aug 12, my claim was sent to managers. I decided to call my claim handler on Aug 31. He told me my claim had been accepted, but that no one had sent payment. He processed the payment while I was on the phone...I think... and told me to look for it next week after the holiday.
Sent from my SAMSUNG-SM-G930A using Tapatalk
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Barry Larkin, Joey Votto, Tris Speaker, 1930-45 Cincinnati Reds, T206 Cincinnati Successful deals with: Banksfan14, Brianp-beme, Bumpus Jones, Dacubfan (x5), Dstrawberryfan39, Ed_Hutchinson, Fballguy, fusorcruiser (x2), GoCalBears, Gorditadog, Luke, MikeKam, Moosedog, Nineunder71, Powdered H20, PSU, Ronniehatesjazz, Roarfrom34, Sebie43, Seven, and Wondo |
#32
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Items for sale or trade here UPDATED 3-16-18 |
#33
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But Wow that seems long a very long process and persistence on your part. Hopefully you see it next week
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Thanks all Jeff Kuhr https://www.flickr.com/photos/144250058@N05/ Looking for 1920 Heading Home Ruth Cards 1917-20 Felix Mendelssohn Babe Ruth 1921 Frederick Foto Ruth Joe Jackson Cards 1916 Advertising Backs 1910 Old Mills Joe Jackson 1914 Boston Garter Joe Jackson 1915 Cracker Jack Joe Jackson 1911 Pinkerton Joe Jackson Shoeless Joe Jackson Autograph |
#34
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successful deals with hcv123, rholmes, robw1959, Yankees1964, theuclakid, Brian Van Horn, h2oya311, thecapeleague, Gkoz316, chesbro41, edjs, wazoo, becollie, t206kid, vintageismygame, Neal, bradmar48, iconsportscards, wrapperguy, agrebene, T3fan, T3s, ccre, Leon, wolf441, cammb, tonyo, markf31,gonzo,scmavl & others currently working on: E101 (33/50) T3 set (104/104), complete! T205 set (108/221) '33 Goudey collecting W600s, Walter Johnson Last edited by chadeast; 09-01-2021 at 11:57 AM. |
#35
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well this is timely ... looking at it now ..
I have a rider with home on Chubb but also looking at Finkelmeier where underwriter is Markel insurance ... Still wonder how they determine FMV ( fair market value ) in a market like this .. if they rely on dated publications or something more dynamic .... Any help is appreciated thanks |
#36
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My claim handler had me send in three different pricing sources to verify my estimate of value. ACI accepted VCP's average sale price, although I also submitted Ebay comps and Beckett (not updated since 2018). Ask up front with the Finkelmaier(sp) broker how they do this. It seemed strange to me that my claim handler couldn't do this himself. But I guess that is similar as taking it to a body shop for an estimate.
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Barry Larkin, Joey Votto, Tris Speaker, 1930-45 Cincinnati Reds, T206 Cincinnati Successful deals with: Banksfan14, Brianp-beme, Bumpus Jones, Dacubfan (x5), Dstrawberryfan39, Ed_Hutchinson, Fballguy, fusorcruiser (x2), GoCalBears, Gorditadog, Luke, MikeKam, Moosedog, Nineunder71, Powdered H20, PSU, Ronniehatesjazz, Roarfrom34, Sebie43, Seven, and Wondo |
#37
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I have a rider with Allstate, updated with an itemized list that has photos, site valuation by my local agent, and coa's (specifically, Babe Ruth ball and Bob Cain ball about Eddie Gaedel). We also have itemized some of our other stuff, not just baseball. But just to be safe, I opened a local bank account in order to set up a safe deposit box. Moving some of the real high-value stuff there from time to time. As Leon says above, you pay for these services. But it isn't unreasonable.
Last edited by jingram058; 09-01-2021 at 12:36 PM. |
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