Collectibles Insurance Agency/Services

[50 Cent #II (1st)]

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).

 

 

Just a little caution with this example. It's illegal to under insure your items, at least in California. Now if your collection is itemized and you have a list of the items covered under the policy and your insurer has that list, this might be OK. But if you have under insured your collection and think that you'll cover just the items you really want replaced, but the insurance company doesn't have a list of those items then this would be considered under insured because you can pick and choose which items you want covered at will and the insurance company thinks your coverage covers your entire collection.