collectibles insurance

[toddyboy]

i'm sure many of you have amassed quite an expensive collection. what measures do u take to protect your investments? do u insure your collection as part of your homeowners/renters policy, or separate collectibles insurance? or maybe u keep it in a safe deposit box and consider it sufficiently safe? if u have insurance, how do u place a value on your items? i don't currently have insurance on any of my possessions (and only liability on my cars), and don't have any plans to insure any of the "junk". but if the house burned down tomorrow, the only things i would miss are my collectibles. trying to decide what to do...

[toddyboy]

i meant to post this in the collectibles forum...oops

[Chiclo]

The wife and I talk about insuring our comics and my firearms but we never get around to it.

Discussion about collectibles insurance pops up rather frequently on firearms forums and the general consensus is that homeowners insurance is universally inadequate.

[Daniel Jackson]

i meant to post this in the collectibles forum...oops

No problem.

[greg]

i'm sure many of you have amassed quite an expensive collection. what measures do u take to protect your investments? do u insure your collection as part of your homeowners/renters policy, or separate collectibles insurance? or maybe u keep it in a safe deposit box and consider it sufficiently safe? if u have insurance, how do u place a value on your items? i don't currently have insurance on any of my possessions (and only liability on my cars), and don't have any plans to insure any of the "junk". but if the house burned down tomorrow, the only things i would miss are my collectibles. trying to decide what to do...

I have had a policy with www.collectinsure.com for several years.
Generally speaking, the price is 0.5% per year for whatever amount of coverage you want. ($1 per $200 in coverage.)

It's definitely worth the cost for my "peace of mind", though.

As far as safes or safe deposit boxes go... fire safes that you can buy for your home
are generally made with a "moisture layer" to help keep the fire out.
Unfortunately, that can allow moisture into any paper being kept in the safe.

Imagine opening a home safe after a couple of years and seeing your comics looking like they are wet.

[DawgPhan]

just add a rider to your home owners insurance. Covers whatever you want. My wifes purse and jewelry collection dwarf my comics.

[greg]

just add a rider to your home owners insurance. Covers whatever you want. My wifes purse and jewelry collection dwarf my comics.

If a comic collection is worth significant money, you don't want to mess with homeowners.

Homeowner's insurance policies vary...
Some want you to keep an inventory of exactly what items they're covering for you.
Some use a "cash value" rather than "collectible value".
Some limit how much they'll cover for theft.

An insurance company that doesn't deal with collectibles (like comics)
is extremely likely to question your claims (and ultimately deny them).

[superman-prime]

homeowners is more expensive then the above route and as said above varies.

[DawgPhan]

just add a rider to your home owners insurance. Covers whatever you want. My wifes purse and jewelry collection dwarf my comics.

If a comic collection is worth significant money, you don't want to mess with homeowners.

Homeowner's insurance policies vary...
Some want you to keep an inventory of exactly what items they're covering for you.
Some use a "cash value" rather than "collectible value".
Some limit how much they'll cover for theft.

An insurance company that doesn't deal with collectibles (like comics)
is extremely likely to question your claims (and ultimately deny them).

I know exactly what comics I have. I generally dont have a lot of turn over in that department and it was easier to just tack on the comics and art when we were already doing much more in jewelry, silverware and the like. I also didnt find it that expensive. Some of you probably have much larger collections of comics than I have..

[Unblessed]

I have:

Auto (4 autos)
Homeowners (1 house, need to add flood)
Valuable Personal Property

The VPP is for things like nice jewlery, watches, etc. I will be insuring my coin collection and the high end/ (I cringe to use this word) "RARE" comic books. So far, it's only my watch on this policy.


With all of those, I don't pay that much for it all. Mainly because the vehicles are being stored/non-op at this time.

[toddyboy]

i'm sure many of you have amassed quite an expensive collection. what measures do u take to protect your investments? do u insure your collection as part of your homeowners/renters policy, or separate collectibles insurance? or maybe u keep it in a safe deposit box and consider it sufficiently safe? if u have insurance, how do u place a value on your items? i don't currently have insurance on any of my possessions (and only liability on my cars), and don't have any plans to insure any of the "junk". but if the house burned down tomorrow, the only things i would miss are my collectibles. trying to decide what to do...

I have had a policy with www.collectinsure.com for several years.
Generally speaking, the price is 0.5% per year for whatever amount of coverage you want. ($1 per $200 in coverage.)

It's definitely worth the cost for my "peace of mind", though.

As far as safes or safe deposit boxes go... fire safes that you can buy for your home
are generally made with a "moisture layer" to help keep the fire out.
Unfortunately, that can allow moisture into any paper being kept in the safe.

Imagine opening a home safe after a couple of years and seeing your comics looking like they are wet.

so if something were to happen, how do they determine the value of each individual piece? do u have to keep track of how much each piece is worth, and keep in on file with them, or how does that all work?