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Comics insurance

Started by Tom473,

39 posts in this topic

Bomber-Bob

Bomber-Bob

Posted
Posted
I just got a Personal Articles policy from State Farm for about $90 for the year. Regular homeowners insurance would have only covered up to $2,500

 

Even my State Farm Agent recommended against insuring my comics with them. They don't have Blanket coverage = you have to schedule each specific item. My wife has a Personal Articles policy on some of her Jewelry but each item has to be scheduled with appraisals. For a constantly changing collection it isn't practical. C.I.A. is the way to go.

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Red84

Red84

Posted
Posted
I just got a Personal Articles policy from State Farm for about $90 for the year. Regular homeowners insurance would have only covered up to $2,500

 

Even my State Farm Agent recommended against insuring my comics with them. They don't have Blanket coverage = you have to schedule each specific item. My wife has a Personal Articles policy on some of her Jewelry but each item has to be scheduled with appraisals. For a constantly changing collection it isn't practical. C.I.A. is the way to go.

 

I don't have a big collection. I put them into an excel spreadsheet and priced them based on gpa 12 month avg.

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zuulioso

zuulioso

Posted
Posted

Same, mine is maybe 10k. This thread made me go check my policy since I haven't looked at it in years. It is pretty specific on what is covered. I have personal property protection for up to 10k per occurrence/$2500 per item. So if my collection was stolen I would be covered though I suspect it would be an ugly battle. For that coverage and a specific rider for jewelry, I pay $194/year. Seemed reasonable but I am sure it doesn't compare with the collectibles company mentioned earlier. It sounds like that one is more comprehensive in the types of loss it covers. Since my collection just sits my main risk is storm, theft, and fire.

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oakman29

oakman29

Posted
Posted
Same, mine is maybe 10k. This thread made me go check my policy since I haven't looked at it in years. It is pretty specific on what is covered. I have personal property protection for up to 10k per occurrence/$2500 per item. So if my collection was stolen I would be covered though I suspect it would be an ugly battle. For that coverage and a specific rider for jewelry, I pay $194/year. Seemed reasonable but I am sure it doesn't compare with the collectibles company mentioned earlier. It sounds like that one is more comprehensive in the types of loss it covers. Since my collection just sits my main risk is storm, theft, and fire.

Think about it though,10K is 1 book. Someone could take 5 books and I would be out 100K,that doesn't seem like a cost effective insurance. (shrug)

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lizards2

lizards2

Posted
Posted
Same, mine is maybe 10k. This thread made me go check my policy since I haven't looked at it in years. It is pretty specific on what is covered. I have personal property protection for up to 10k per occurrence/$2500 per item. So if my collection was stolen I would be covered though I suspect it would be an ugly battle. For that coverage and a specific rider for jewelry, I pay $194/year. Seemed reasonable but I am sure it doesn't compare with the collectibles company mentioned earlier. It sounds like that one is more comprehensive in the types of loss it covers. Since my collection just sits my main risk is storm, theft, and fire.

Think about it though,10K is 1 book. Someone could take 5 books and I would be out 100K,that doesn't seem like a cost effective insurance. (shrug)

Why would you even insure 10K? That's nothing in today's world - and for $200 per year? Better off to buy more comics with that $.
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shadroch

shadroch

Posted
Posted
I have had a policy for three years. They are affordable and very easy to deal with. One of the best perks is that you don't have to buy USPS insurance when mailing as long as you have signature required.

 

 

Explain this a bit. Please. Is this when you are buying a book or selling it. Does the collector policy cover you if you sell a book so that you don't need to insure it? How about books you are sending on consignment/ Are they covered in transit?

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shadroch

shadroch

Posted
Posted
Same, mine is maybe 10k. This thread made me go check my policy since I haven't looked at it in years. It is pretty specific on what is covered. I have personal property protection for up to 10k per occurrence/$2500 per item. So if my collection was stolen I would be covered though I suspect it would be an ugly battle. For that coverage and a specific rider for jewelry, I pay $194/year. Seemed reasonable but I am sure it doesn't compare with the collectibles company mentioned earlier. It sounds like that one is more comprehensive in the types of loss it covers. Since my collection just sits my main risk is storm, theft, and fire.

 

A person in NY State could get $25,000 through CIA for the same money. Does your rider cover flooding/

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Gunnz

Gunnz

Posted
Posted
Same, mine is maybe 10k. This thread made me go check my policy since I haven't looked at it in years. It is pretty specific on what is covered. I have personal property protection for up to 10k per occurrence/$2500 per item. So if my collection was stolen I would be covered though I suspect it would be an ugly battle. For that coverage and a specific rider for jewelry, I pay $194/year. Seemed reasonable but I am sure it doesn't compare with the collectibles company mentioned earlier. It sounds like that one is more comprehensive in the types of loss it covers. Since my collection just sits my main risk is storm, theft, and fire.

Think about it though,10K is 1 book. Someone could take 5 books and I would be out 100K,that doesn't seem like a cost effective insurance. (shrug)

Why would you even insure 10K? That's nothing in today's world - and for $200 per year? Better off to buy more comics with that $.

 

Maybe 10K isn't a lot for you, But my collection is worth less than that and I would be devastated if anything happened to my books. I wouldnt be able to replace most of them, and getting something back is better than nothing.

 

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Chaseman210

Chaseman210

Posted
Posted
Same, mine is maybe 10k. This thread made me go check my policy since I haven't looked at it in years. It is pretty specific on what is covered. I have personal property protection for up to 10k per occurrence/$2500 per item. So if my collection was stolen I would be covered though I suspect it would be an ugly battle. For that coverage and a specific rider for jewelry, I pay $194/year. Seemed reasonable but I am sure it doesn't compare with the collectibles company mentioned earlier. It sounds like that one is more comprehensive in the types of loss it covers. Since my collection just sits my main risk is storm, theft, and fire.

Think about it though,10K is 1 book. Someone could take 5 books and I would be out 100K,that doesn't seem like a cost effective insurance. (shrug)

Why would you even insure 10K? That's nothing in today's world - and for $200 per year? Better off to buy more comics with that $.

 

Maybe 10K isn't a lot for you, But my collection is worth less than that and I would be devastated if anything happened to my books. I wouldnt be able to replace most of them, and getting something back is better than nothing.

 

+1

 

My collection is worth less than 10K, but if something happened to them, it would take me a good while to replace what I have.

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Chaseman210

Chaseman210

Posted
Posted
I have had a policy for three years. They are affordable and very easy to deal with. One of the best perks is that you don't have to buy USPS insurance when mailing as long as you have signature required.

 

 

Explain this a bit. Please. Is this when you are buying a book or selling it. Does the collector policy cover you if you sell a book so that you don't need to insure it? How about books you are sending on consignment/ Are they covered in transit?

 

Could I add to this question also? What about when you buy something? Do you still need to pay the shipper for insurance or would this policy cover incoming as well as outgoing?

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Gunnz

Gunnz

Posted
Posted

So, I'm looking at the CIS insurance website and they have CBR as a way of verifying and appraising your books...

Does anyone actually come to your house to see and witness your collection, or are we on the honor system?

 

Also, can't find anything on the site about international coverage i.e. Canadian customers.

 

I'll try to contact them tomorrow and see what they say.

 

 

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zuulioso

zuulioso

Posted
Posted
Same, mine is maybe 10k. This thread made me go check my policy since I haven't looked at it in years. It is pretty specific on what is covered. I have personal property protection for up to 10k per occurrence/$2500 per item. So if my collection was stolen I would be covered though I suspect it would be an ugly battle. For that coverage and a specific rider for jewelry, I pay $194/year. Seemed reasonable but I am sure it doesn't compare with the collectibles company mentioned earlier. It sounds like that one is more comprehensive in the types of loss it covers. Since my collection just sits my main risk is storm, theft, and fire.

Think about it though,10K is 1 book. Someone could take 5 books and I would be out 100K,that doesn't seem like a cost effective insurance. (shrug)

Why would you even insure 10K? That's nothing in today's world - and for $200 per year? Better off to buy more comics with that $.

 

I guess I wasn't clear. My whole collection is worth maybe 10k with the top book being worth maybe 2k. The coverage is 2500 per item with a 10k max.

 

But I do hear you and agree that I could get a better more comprehensive deal with CIS. I will check them out. Glad I noticed this thread!

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zuulioso

zuulioso

Posted
Posted
Same, mine is maybe 10k. This thread made me go check my policy since I haven't looked at it in years. It is pretty specific on what is covered. I have personal property protection for up to 10k per occurrence/$2500 per item. So if my collection was stolen I would be covered though I suspect it would be an ugly battle. For that coverage and a specific rider for jewelry, I pay $194/year. Seemed reasonable but I am sure it doesn't compare with the collectibles company mentioned earlier. It sounds like that one is more comprehensive in the types of loss it covers. Since my collection just sits my main risk is storm, theft, and fire.

 

A person in NY State could get $25,000 through CIA for the same money. Does your rider cover flooding/

 

No, it is very specific about that. I am not in a flood plain, so they only cover flooding due to sewer backup.

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shadroch

shadroch

Posted
Posted

I ask because towns on Long Island just experienced a storm where thirteen inches of rain fell and areas nowhere near flood zones became inland rivers, with thousands of basements underwater. Seems like the hundred year storm is happening every other year these days.

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ShawnDeath

ShawnDeath

Posted
Posted

After getting a policy with these folks and reading through the policy, there are some added benefits to it that a personal articles policy won't give you.

 

One particularly nice one is books are covered in full up to your policy coverage limit when shipping as long as you use Fed Ex and request delivery signature.

 

Going through a claim with USPS right now, and their coverage seems next to useless.

 

If you sell a few valuable books and have a few shipments to CGC or the auction houses, the savings on postal insurance will probably come close to what the annual policy premium is.

 

Interestingly enough, UPS is excluded from this same coverage.

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lizards2

lizards2

Posted
Posted
Same, mine is maybe 10k. This thread made me go check my policy since I haven't looked at it in years. It is pretty specific on what is covered. I have personal property protection for up to 10k per occurrence/$2500 per item. So if my collection was stolen I would be covered though I suspect it would be an ugly battle. For that coverage and a specific rider for jewelry, I pay $194/year. Seemed reasonable but I am sure it doesn't compare with the collectibles company mentioned earlier. It sounds like that one is more comprehensive in the types of loss it covers. Since my collection just sits my main risk is storm, theft, and fire.

Think about it though,10K is 1 book. Someone could take 5 books and I would be out 100K,that doesn't seem like a cost effective insurance. (shrug)

Why would you even insure 10K? That's nothing in today's world - and for $200 per year? Better off to buy more comics with that $.

 

Maybe 10K isn't a lot for you, But my collection is worth less than that and I would be devastated if anything happened to my books. I wouldnt be able to replace most of them, and getting something back is better than nothing.

 

+1

 

My collection is worth less than 10K, but if something happened to them, it would take me a good while to replace what I have.

 

I would be devastated if I lost my books as well.

 

I am not trying to belittle or put down your collections in the least, I am just trying to understand why someone would insure an asset with such little value. I think the insurance salesmen are winning the day here.

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AnkurJ

AnkurJ

Posted
Posted
I have had a policy for three years. They are affordable and very easy to deal with. One of the best perks is that you don't have to buy USPS insurance when mailing as long as you have signature required.

 

 

Explain this a bit. Please. Is this when you are buying a book or selling it. Does the collector policy cover you if you sell a book so that you don't need to insure it? How about books you are sending on consignment/ Are they covered in transit?

 

Could I add to this question also? What about when you buy something? Do you still need to pay the shipper for insurance or would this policy cover incoming as well as outgoing?

 

If I sell a book, it's transit is covered as long as a signature is required.

When I buy something, it is not covered when the seller is sending it to me. Now if I am having books sent back to me by CGC or another company, then they are covered.

 

They only require you to declare items worth more than $5000. Others you just need proof of ownership.

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comeaux

comeaux

Posted
Posted

To reiterate what others have said … Collectinsure (Collectibles Insurance Services) is the way to go. I checked with my State Farm agent and prices were ridiculous for a rider. My agent told me the same thing as bomer-bobs agent and that it’s better to get insurance of this type elsewhere.

 

Those looking for jewelry insurance … I recommend looking into Jewelers Mutual which is highly affordable for significant coverage.

 

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MPS

MPS

Posted
Posted

Thanks for the info.

 

Has anyone actually collected from them upon a loss?

 

http://www.collectinsure.com

 

 

 

You'll thank me. (thumbs u

 

In another thread a couple of people said that they are good about paying off after a loss but, as I remember, after the third claim they drop you. You may want to search for that thread because I may not be correctly remembering what was said.

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