Insurance coverage for an expensive collection. What do you do?

[shadroch]

Does anyone know anyone that has actually filed a claim yet?

Almost every insurance agency has the collecting premiums part of the formula down.

[comicdonna]

Someone did here but, I don't remember who.

[DiceX]

If you mail packages, you only need a signature confirmation, and your books are insured up to a certain amount. Many people here use them.

 

There is a $200 deductible on mail insurance. If the bulk of what you buy is $200 or less, you're better off buying USPS insurance because it is an additional charge with Collectinsure.

 

Also if you buy and sell you'll need to get a "dealer" policy in order to cover the rotating inventory.

The "collector" policy is cheaper, but it only covers items in your personal collection that are not for sale.

The dealer policy has other additional coverages such as transportation to or from a convention or sale. If you go to a con and buy books it covers them the moment they are in your possession.

 

Great company to work with. I suggest talking to them on the phone to make sure you are getting the coverage you need.

 

 

[VintageComics]

Does anyone know anyone that has actually filed a claim yet?

Almost every insurance agency has the collecting premiums part of the formula down.

 

I've heard they will drop you after a couple of significant claims.

[Dr. Balls]

Does anyone know anyone that has actually filed a claim yet?

Almost every insurance agency has the collecting premiums part of the formula down.

 

+1

 

I'm curious to that, too.

[Sqeggs]

Does anyone know anyone that has actually filed a claim yet?

Almost every insurance agency has the collecting premiums part of the formula down.

 

I've heard they will drop you after a couple of significant claims.

 

Oh, great. Seems like a reason to compare the cost of adding a rider to your homeowner's insurance. At least you won't be scrambling for insurance if these guys drop you.

[VintageComics]

The chances of having two significant claims are reasonable rare.

 

Most insurance companies will make some sort of major adjustment for subsequent claims. Even home insurance.

 

 

[Sqeggs]

The chances of having two significant claims are reasonable rare.

 

Most insurance companies will make some sort of major adjustment for subsequent claims. Even home insurance.

 

 

Our company has actually been pretty good despite several significant claims in recent years against our homeowners and car insurance policies. Don't know what they would do if books were stolen in a burglary. Certainly possible they would drop the rider or make it prohibitively expensive.

[shadroch]

I'd be more than happy if I never make a claim, but would like to no they will pay off at last one major claim.

I was under the impression that with my collectors policy, any books I took to a con or bought at a con were fully covered as soon as I took possesion.

Is this incorrect?

[ecfanman]

How expensive is collectinsure? (Ballpark estimate - I know it's based on a number of factors.)

 

1) less than 1% of value

 

2) between 1% and 2% of value

 

3) between 2% and 3% of value

 

4) more than 3% of value

[DiceX]

I'd be more than happy if I never make a claim, but would like to no they will pay off at last one major claim.

I was under the impression that with my collectors policy, any books I took to a con or bought at a con were fully covered as soon as I took possesion.

Is this incorrect?

 

I'm not sure. I picked up the Dealer policy because most everything I have will be sold at some point.

I had options of adding additional transportation coverage, but the policy itself covered up to $5000 without adding anything to it.

 

 

[DiceX]

How expensive is collectinsure? (Ballpark estimate - I know it's based on a number of factors.)

 

1) less than 1% of value

 

2) between 1% and 2% of value

 

3) between 2% and 3% of value

 

4) more than 3% of value

 

The Dealer policy I bought was just barely over 1%.

The Collector policy is significantly less.

 

 

[DiceX]

How expensive is collectinsure? (Ballpark estimate - I know it's based on a number of factors.)

 

1) less than 1% of value

 

2) between 1% and 2% of value

 

3) between 2% and 3% of value

 

4) more than 3% of value

 

The Dealer policy I bought was just barely over 1%.

The Collector policy is significantly less.

 

 

And that's 1% per year.

 

 

[newshane]

Yes someone here has filed a claim and they followed through. Board member was Rusty Staples. The thread is here:

 

http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Number=5725293&fpart=1

 

I just filled out an application with the company. I was shocked at how cheap it was.

 

Visit their website. Free estimate is fast with no obligation. Just answer a few questions.

 

I'm giving it a roll. Seems like lot less of a pain than providing a big company with all the paperwork...and paying a ridicluous fee.

 

 

[DiceX]

Yes someone here has filed a claim and they followed through. Board member was Rusty Staples. The thread is here:

 

http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Number=5725293&fpart=1

 

I just filled out an application with the company. I was shocked at how cheap it was.

 

Visit their website. Free estimate is fast with no obligation. Just answer a few questions.

 

I'm giving it a roll. Seems like lot less of a pain than providing a big company with all the paperwork...and paying a ridicluous fee.

 

 

They'll send you an email in a few days with a policy to review. Be sure you call and talk to someone to make sure you're clear on the coverage of everything you're getting.

Immediate answers to specific questions helps a lot.

 

 

[shadroch]

Yes someone here has filed a claim and they followed through. Board member was Rusty Staples. The thread is here:

 

http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Number=5725293&fpart=1

 

I just filled out an application with the company. I was shocked at how cheap it was.

 

Visit their website. Free estimate is fast with no obligation. Just answer a few questions.

 

I'm giving it a roll. Seems like lot less of a pain than providing a big company with all the paperwork...and paying a ridicluous fee.

 

 

 

 

That was an interesting read I had not seen before. Thanks for the link.