Insurances and comics coll.

[Kermit]

To everyone

 

I don't have a coll. as valuable as the majority of the members around here, but it's getting pretty high with the passing years.

 

Does any of you ever tought on having some kind of insurance for the coll.?!

 

Regards, Pedro.

[ninanina]

Insurance is too expensive, and I am covered up to $1000.00 with my house insurance. Although I've extimated the worth of my collection much higher, I am just taking my chances.

 

I did have a stack of Star Wars #1's stolen from my collection about 4 years ago and my house insurance covered it. Guide on them was $1300.00 and my deductable was $500.00. So, I did manage to get $800.00 for them which is a lot more than what I paid for them.

 

 

Spent the money for a door with a lock on it. Now, whenever my boys have company, he has specific instructions to lock the door to my collection.

 

The only real danger I do have, is total loss. And that may or may not happen depending on how the Red River behaves. Although we did have a close call a few years ago, the Floodway held.

 

(crossing my fingers)

[Kermit]

Having a nice coll. in your house and also near you a river less friendly, it must give you some nightmares from time to time...

 

I only started building my price guide around 3 years ago, and i've been a comics reader for 20 years. the first time i put up the prices and made the maths i thought i have putted some extra numbers on the total...and head a little dizzy.

But in the end, it's their sentimental value that i carve...that doesn't have price.

 

About the insurance i'm going to gather some info in the up-coming weeks and see what i can came up with.

 

Thanks for the reply, Pedro.

[ubiquiti]

Insurance is too expensive, and I am covered up to $1000.00 with my house insurance. Although I've extimated the worth of my collection much higher, I am just taking my chances.

 

I did have a stack of Star Wars #1's stolen from my collection about 4 years ago and my house insurance covered it. Guide on them was $1300.00 and my deductable was $500.00. So, I did manage to get $800.00 for them which is a lot more than what I paid for them.

 

 

Spent the money for a door with a lock on it. Now, whenever my boys have company, he has specific instructions to lock the door to my collection.

 

The only real danger I do have, is total loss. And that may or may not happen depending on how the Red River behaves. Although we did have a close call a few years ago, the Floodway held.

 

(crossing my fingers)

Dude, you should really buy insurance.

$10,000 in coverage is only $38 per year with a $0 deductible.

it also covers tons of other stuff as well.

If your collection is worth more than your homeowner's deductible, you really should do it.

[Warlord]

To everyone

 

I don't have a coll. as valuable as the majority of the members around here, but it's getting pretty high with the passing years.

 

Does any of you ever tought on having some kind of insurance for the coll.?!

 

Regards, Pedro.

 

Check out the insurance thread here

 

I finally splurged for the insurance from CIA.

 

It even insures comics that are being shipped to/from you (with certain limitations). I sent a batch of comics to CGC for slabbing via Certified mail. The CIA policy should cover that for up to, I think, a $2500 limit on my policy. I saved $10-15 or so by not purchasing USPS insurance due to my CIA coverage!

 

[MMMarvel-migration]

To everyone

 

I don't have a coll. as valuable as the majority of the members around here, but it's getting pretty high with the passing years.

 

Does any of you ever tought on having some kind of insurance for the coll.?!

 

Regards, Pedro.

 

Check out the insurance thread here

 

I finally splurged for the insurance from CIA.

 

It even insures comics that are being shipped to/from you (with certain limitations). I sent a batch of comics to CGC for slabbing via Certified mail. The CIA policy should cover that for up to, I think, a $2500 limit on my policy. I saved $10-15 or so by not purchasing USPS insurance due to my CIA coverage!

 

Got my CIA policy last week. 60k worth of insurance for $222. Can't beat that.

[Kermit]

222$ per year?

 

If something happens to a coll. of 60k, how much will they refund it?!

[thanos_oftitan]

I did have a stack of Star Wars #1's stolen from my collection about 4 years ago and my house insurance covered it. Guide on them was $1300.00 and my deductable was $500.00. So, I did manage to get $800.00 for them which is a lot more than what I paid for them.

 

 

That may not have been a good idea. The reason is if you need to file a second claim for some other reason. They will, with out a doubt, raise your rate. I know from experience.

 

 

[fantastic_four]

That may not have been a good idea. The reason is if you need to file a second claim for some other reason. They will, with out a doubt, raise your rate. I know from experience.

 

What was your experience, exactly...and how much did it raise?

[MMMarvel-migration]

222$ per year?

 

If something happens to a coll. of 60k, how much will they refund it?!

 

The whole 60k. They cover fire, flood, theft, but NOT vermin damage such as insects or rats eating your copy of Amazing Fantasy #15..

[thanos_oftitan]

That may not have been a good idea. The reason is if you need to file a second claim for some other reason. They will, with out a doubt, raise your rate. I know from experience.

 

What was your experience, exactly...and how much did it raise?

 

 

My wife lost an expensive ring on vacation last year and we filed a claim. This year we returned from a vacation to find a large cherry tree had come down during a storm causing damage to my deck, fence etc... The wife called to see about filing a damage claim and was told that our rates would be increased! Also was advised

that if the claim was not substantial it would not be in our best interest to file it. No claim was filed. The cherry wood was sold and I had help repairing the damage done. How much would it be raised

 

 

[ubiquiti]

That may not have been a good idea. The reason is if you need to file a second claim for some other reason. They will, with out a doubt, raise your rate. I know from experience.

 

What was your experience, exactly...and how much did it raise?

 

 

My wife lost an expensive ring on vacation last year and we filed a claim. This year we returned from a vacation to find a large cherry tree had come down during a storm causing damage to my deck, fence etc... The wife called to see about filing a damage claim and was told that our rates would be increased! Also was advised

that if the claim was not substantial it would not be in our best interest to file it. No claim was filed. The cherry wood was sold and I had help repairing the damage done. How much would it be raised

 

YOu should have reported the agent/company, whomever told you your rates would be raised, to the department of insurance in your state.

It is illegal to coerce an insured from filing a claim.

And typically, with claims, the only thing that raises your rate, year over year substantially(aside from market conditions, which right now is more than enough to merit a substantial increase) is a frequency problem.

I've been in underwriting for about 5 years cumulatively, and companies typically understand one completely unforseen event every now and then. They can even understand just plain bad luck. They will crush you rate wise if there is any kind of pattern. Bottom line is key and if your loss ratio - claims paid/premium paid is over 65-75% - expect a fairly substantial rate increase - unless of course that claim paid was a freak occurence/unforseen event.

 

[supapimp]

Spent the money for a door with a lock on it. Now, whenever my boys have company, he has specific instructions to lock the door to my collection.

 

damn kids nowadays, no frickin respect i tell ya!