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Bank Safety Deposit Box for Blue Chips?

Started by Racer-X,

53 posts in this topic

Racer-X

Racer-X

Posted
Posted

Opinions please:

 

Should I put a handfull of (uninsured) blue chip comics (figure 15K average) - all CGC - in a bank safety deposit box?

 

or

 

Get them insured (much more costly) and keep them at home?

 

If the latter - any recs on insurers?

 

Thanks

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Primetime

Primetime

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If you insure, go with Collectibles Insurance out of Maryland. Most dealers and collectors use them. I've had them many years now. My premium averages about $60 per month and I'm getting about $130k+ of umbrella coverage. Plus I'm covered for insurance for packages sent to and from me. Saves a ton on shipping insurance on four and five figure books :)

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mysterio

mysterio

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I've got CI and have also really liked them. I haven't had to make a claim yet (fortunately, knock on wood), but other boardies have said that claims for them have been smooth.

 

I'm also toying with putting books in our safe deposit box. It has the room, and I would only put 3-4 slabs in there, but my concerns are more about environment (heat, humidity, etc).

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Racer-X

Racer-X

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If you insure, go with Collectibles Insurance out of Maryland. Most dealers and collectors use them. I've had them many years now. My premium averages about $60 per month and I'm getting about $130k+ of umbrella coverage. Plus I'm covered for insurance for packages sent to and from me. Saves a ton on shipping insurance on four and five figure books :)

 

Great! Actually just got off the phone with them - they seemed great. Glad to hear confirmation!

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Primetime

Primetime

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If you insure, go with Collectibles Insurance out of Maryland. Most dealers and collectors use them. I've had them many years now. My premium averages about $60 per month and I'm getting about $130k+ of umbrella coverage. Plus I'm covered for insurance for packages sent to and from me. Saves a ton on shipping insurance on four and five figure books :)

 

Great! Actually just got off the phone with them - they seemed great. Glad to hear confirmation!

they are wonderful and prompt in my email responses! They go to major cons too so it's good to know they have a presence. The shipping coverage they offer Is a big plus. Also, they will cover ur books in different locations (bank and home and coverage for travel to conventions for loss)
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Transplant

Transplant

Posted
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If you insure, go with Collectibles Insurance out of Maryland. Most dealers and collectors use them. I've had them many years now. My premium averages about $60 per month and I'm getting about $130k+ of umbrella coverage. Plus I'm covered for insurance for packages sent to and from me. Saves a ton on shipping insurance on four and five figure books :)
Is that a dealer or collector policy? I don't think the collector policies cover shipping, do they?
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comicwiz

comicwiz

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Is there any comparable coverage CI offers available in Canada?
i think they cover world wide so you need not live in states.

 

Are you sure about this? The last time I spoke with them, they mentioned there was no coverage for Canadians.

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skypinkblu

skypinkblu

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If you insure, go with Collectibles Insurance out of Maryland. Most dealers and collectors use them. I've had them many years now. My premium averages about $60 per month and I'm getting about $130k+ of umbrella coverage. Plus I'm covered for insurance for packages sent to and from me. Saves a ton on shipping insurance on four and five figure books :)
Is that a dealer or collector policy? I don't think the collector policies cover shipping, do they?

 

Yes it does...but only up to $250 unless it's sent with $100 insurance and signature required. That's good till $2500, after that I think you have to send it registered and mine at least covers to $50k.

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Mark 1

Mark 1

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Posted
If you insure, go with Collectibles Insurance out of Maryland. Most dealers and collectors use them. I've had them many years now. My premium averages about $60 per month and I'm getting about $130k+ of umbrella coverage. Plus I'm covered for insurance for packages sent to and from me. Saves a ton on shipping insurance on four and five figure books :)

 

+1 for this.

 

A safety deposit box is the most secure way to avoid theft but then you don't get to enjoy the comic. :(

 

I have the insurance and it's a nice added level of security in case something horrible happens.

 

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comicwiz

comicwiz

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Just got off the phone with them and they don't offer coverage in Canada, and won't anytime soon :sorry:

 

I wonder why? That stinks

 

The lady I spoke with said the regulations here make it difficult for them to offer coverage without having an office. I found that strange since many companies keep virtual offices, but maybe they don't think it's viable. (shrug)

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Transplant

Transplant

Posted
Posted
If you insure, go with Collectibles Insurance out of Maryland. Most dealers and collectors use them. I've had them many years now. My premium averages about $60 per month and I'm getting about $130k+ of umbrella coverage. Plus I'm covered for insurance for packages sent to and from me. Saves a ton on shipping insurance on four and five figure books :)
Is that a dealer or collector policy? I don't think the collector policies cover shipping, do they?

 

Yes it does...but only up to $250 unless it's sent with $100 insurance and signature required. That's good till $2500, after that I think you have to send it registered and mine at least covers to $50k.

So I can get a collector policy, send a package with $100 insurance and signature confirmation required and it will cover up to $2500 of the policy limit? What about books being sent to me?
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Mark 1

Mark 1

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Just got off the phone with them and they don't offer coverage in Canada, and won't anytime soon :sorry:

 

So do we Canucks have any options?

 

What about renters insurance or your home owners policy?

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Primetime

Primetime

Posted
Posted
Is there any comparable coverage CI offers available in Canada?
i think they cover world wide so you need not live in states.

 

Are you sure about this? The last time I spoke with them, they mentioned there was no coverage for Canadians.

i could be wrong then. Hmmm
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Primetime

Primetime

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Posted
Just got off the phone with them and they don't offer coverage in Canada, and won't anytime soon :sorry:

 

I wonder why? That stinks

 

The lady I spoke with said the regulations here make it difficult for them to offer coverage without having an office. I found that strange since many companies keep virtual offices, but maybe they don't think it's viable. (shrug)

bummer. I would think an office wouldn't prevent coverage being offered. Unless you store your collectibles in US lol
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