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Collectibles Insurance Agency/Services

Started by october,

41 posts in this topic

feltonfitz-migration

feltonfitz-migration

Posted
Posted

Hello there. We get google alerts anytime our company name or URL are posted in a blog.

 

Thanks to all our customers for their kind words about our service! And to Taxguy for his astute comments regarding the fact that we are the agency not the insurance company.

 

The agency takes in the initial claim information and forwards it to the adjuster. The carrier uses two adjusting firms - one for smaller claims and another for claims over $50,000. Both adjusters speciliaze in collectibles and fine art. Claims are then paid by the insurance carrier, Lloyds of London. Their ratings by insurance rating services are excellent:

 

AM Best A (Excellent). Stable Outlook.

Fitch A+ (Strong). Stable Outlook.

Standard & Poor's A+ (Stong). Stable Outlook.

 

In 2006 when we purchased the agency there was a rate increase and state laws required that the taxes and fees be itemized. They had always been included in the price but were not previously itemized. In 2008 when we moved from First State to Lloyds there was a rate increase of 10%.

 

The agency has been in business since 1966 and the last owner, Dan Walker, still works as a consultant for the agency. He is in the office 2 days a week and also attends about 15 shows a year.

 

We would be happy to answer any further questions about the company and coverage.

 

Thanks, Annemarie

 

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VintageComics

VintageComics

Posted
Posted

Annemarie thanks for the reply.

 

Is there any chance on coverage in Canada in the near future?

 

:wishluck:

 

There are a lot of comic book collectors up here that want to do business with you.

 

R.

 

 

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feltonfitz-migration

feltonfitz-migration

Posted
Posted

I wish I could say yes. When we looked at this in late 2008, we found that Canada requires a local office and we would have to be licensed in all of their provinces. The cost for the local office, licensing and system modifications to comply with their laws is too much. You may want to try AXA Art - they do business in Canada. Comics would fall under fine art. Here is a link to their Canada information and Canadian contact.

 

http://www.axa-art.com/Content.asp?IDAREA=2&IDCAT=37&TIPO=C

 

For more information about on AXA Art’s activities in Canada, or for advice about coverage for your collection, please contact:

 

Ann-Louise Seago, ACII

Vice President/Senior Fine Art Underwriter

130 King Street West, 23rd floor

Suite 2350

PO BOX 160

Toronto ON M5X 1C7

Tel: (416) 928-8580

Fax: (416) 928-5556

Mobile: (416) 317-7886

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3319comics

3319comics

Posted
Posted

So if there are no individual books over 5k in your collection its just a flat coverage? Do you still need to list all the book in your collection? I have a bunch of books but nothing crazy expensive for a single book. Anyone know how this works?

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fantastic_four

fantastic_four

Posted
Posted
They replace with similiar collectible of similiar quality

 

Are you sure? How the heck would they do this? Most collectibles require a fair amount of skill to even pick out. I'd be absolutely pissed if they replaced let's say a Spidey #50 CGC 9.0 with White pages and high quality of production with some random ebay Spidey #50 CGC 8.5 with Cream to Off-White pages and a fugly miswrap. :screwy: Seems like it'd be far easier for them to just refund market value.

 

Hedge's question about how they determine value is still something I'm wondering as well.

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Hedge Collector

Hedge Collector

Posted
Posted
They replace with similiar collectible of similiar quality

 

Are you sure? How the heck would they do this? Most collectibles require a fair amount of skill to even pick out. I'd be absolutely pissed if they replaced let's say a Spidey #50 CGC 9.0 with White pages and high quality of production with some random ebay Spidey #50 CGC 8.5 with Cream to Off-White pages and a fugly miswrap. :screwy: Seems like it'd be far easier for them to just refund market value.

 

Hedge's question about how they determine value is still something I'm wondering as well.

 

The manner in which Collectibles would either replace or reimburse would definitely make a big difference in a high value book.

 

No doubt, some books like Pedigrees are irreplaceable.

 

Do they understand that an off-white is not the same as a white, and that one grade level can make a huge difference?

 

And in reimbursing, there can often be no sales data for several years for a specific grade, though it's clear the book has appreciated markedly. I'd like to know if they would be agreeable/reasonable on a price or just approach it by trying to pay out the lowest reimbursement amount.

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comics-rock

comics-rock

Posted
Posted
They replace with similiar collectible of similiar quality

 

Are you sure? How the heck would they do this? Most collectibles require a fair amount of skill to even pick out. I'd be absolutely pissed if they replaced let's say a Spidey #50 CGC 9.0 with White pages and high quality of production with some random ebay Spidey #50 CGC 8.5 with Cream to Off-White pages and a fugly miswrap. :screwy: Seems like it'd be far easier for them to just refund market value.

 

Hedge's question about how they determine value is still something I'm wondering as well.

 

hmmmm....me thinks i should get my VF Action Comics # 1 and NM Detective Comics # 27 insured through this company before the 'big fire'!!! :devil:

 

 

 

 

 

 

 

 

 

:jokealert: before you all start calling the Feds!!!

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kahml

kahml

Posted
Posted
I've had them for at least ten years now and pretty much agree with most other's take. Have never filed a claim but they've been very responsive and reliable with answering questions and making requested changes to my policy. It's true that the premium did go up substantially a few years ago when they switched underwriters to Lloyds but they are still a bargain compared to a rider on homeowners insurance. Also, keep in mind that CIA is the broker, not the underwriter. So they don't actually pay the claims... Lloyds does; and they are one of the largest insurers in the world and perhaps the global leader insuring oddball things like collectibles.

 

I've used them for the past few years, and the new invoice came during the weekend. This morning, over coffee, I took a look at the paper work - and almost ruined it with coffee-spit!

 

The collection value was automatically increased by 12%

The premium for the coverage increased by 14.5%

 

My collection has a small amount of Silver Age books (no keys), 35% Bronze, 45% Copper Age, the rest are Modern. I'm going to have to call to find out how to reduce these fees.

 

Larry

 

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Mr. Zipper

Mr. Zipper

Posted
Posted
I've had them for at least ten years now and pretty much agree with most other's take. Have never filed a claim but they've been very responsive and reliable with answering questions and making requested changes to my policy. It's true that the premium did go up substantially a few years ago when they switched underwriters to Lloyds but they are still a bargain compared to a rider on homeowners insurance. Also, keep in mind that CIA is the broker, not the underwriter. So they don't actually pay the claims... Lloyds does; and they are one of the largest insurers in the world and perhaps the global leader insuring oddball things like collectibles.

 

I've used them for the past few years, and the new invoice came during the weekend. This morning, over coffee, I took a look at the paper work - and almost ruined it with coffee-spit!

 

The collection value was automatically increased by 12%

The premium for the coverage increased by 14.5%

 

My collection has a small amount of Silver Age books (no keys), 35% Bronze, 45% Copper Age, the rest are Modern. I'm going to have to call to find out how to reduce these fees.

 

Larry

 

A few years ago I decided to reduce my coverage to the amount I would need to replace the books that I would really want to replace... not total replacement value of everything. Saved a considerable amount that way. The only way it bites me is if I have a total loss. I presume in most cases, losses are on single books (shipping loss) or isolated to a portion of the collection (pipe drips on a longbox).

 

:wishluck:lol

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Dale Roberts

Dale Roberts

Posted
Posted
They replace with similiar collectible of similiar quality

 

Are you sure? How the heck would they do this? Most collectibles require a fair amount of skill to even pick out. I'd be absolutely pissed if they replaced let's say a Spidey #50 CGC 9.0 with White pages and high quality of production with some random ebay Spidey #50 CGC 8.5 with Cream to Off-White pages and a fugly miswrap. :screwy: Seems like it'd be far easier for them to just refund market value.

 

Hedge's question about how they determine value is still something I'm wondering as well.

 

This is not true. Harley made a claim on 2 boxes of books and got the cash for the books.

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Silver Surfer

Silver Surfer

Posted
Posted
I wish I could say yes. When we looked at this in late 2008, we found that Canada requires a local office and we would have to be licensed in all of their provinces. The cost for the local office, licensing and system modifications to comply with their laws is too much. You may want to try AXA Art - they do business in Canada. Comics would fall under fine art. Here is a link to their Canada information and Canadian contact.

 

http://www.axa-art.com/Content.asp?IDAREA=2&IDCAT=37&TIPO=C

 

For more information about on AXA Art’s activities in Canada, or for advice about coverage for your collection, please contact:

 

Ann-Louise Seago, ACII

Vice President/Senior Fine Art Underwriter

130 King Street West, 23rd floor

Suite 2350

PO BOX 160

Toronto ON M5X 1C7

Tel: (416) 928-8580

Fax: (416) 928-5556

Mobile: (416) 317-7886

 

Thanks for the info, have been trying to find a firm in Canada hat provides coverage for ages.

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