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Where to get the Best Comic Insurance?
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Started by Xenosmilus,

41 posts in this topic

spidrvacc

spidrvacc

Posted
Posted (edited)

Actually got a better question, looking into comic insurance . I see there is collect insure but also Markel insurance and American Collectors insurance.

https://www.markelinsurance.com/comic-books

 

https://americancollectors.com/insurance/collectibles/

Prices similar but little cheaper. 

 

Anyone use them. My research shows there reputable insurance company.  Also see they are recommend by hero restoration.

http://www.herorestoration.net/insurance/

 

 

 

 

 

Edited by spidrvacc
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Dr. Love

Dr. Love

Posted
Posted
On 5/30/2020 at 10:00 AM, Hollywood1892 said:

What should a persons collection be valued at before getting insurance?

Your cost basis.  At the end of the day you should always be able to provide proof of that.  Easily defensible in the claims process.

And now you get to decide whether it's fair to include auction house commissions in that.  You paid it...but it's not part of FMV...or is it?  :bigsmile:

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spidrvacc

spidrvacc

Posted
Posted

I got a quote from all three companies mentioned above for comic book insurance.  Markel being the cheapest.  CI most expensive 

 

I dont have a huge collection but still want to protect it from theft or fire / flood.

But my only question is how do you prove what you own if a claim. From reading CI website you dont need receipts from purchases , just a list. Not sure of other three. I have an excel spread sheet of my collection. Have photos in the cloud of most books? Is that enough. I got alot of this when younger so no receipts  And wonder if its the same with Markel or American collectors.  Want to go with markel ( Sure) due to price but ease of proof of collection is key. 

 

Any insight appreciated. 

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spidrvacc

spidrvacc

Posted
Posted

Well i will update  markel (Sure) actually reached out since i did a quote. They are like CI just need spread sheet and photos. Receipts are great but not needed. Price was great so went with them.

 

 

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Gambold Vintage

Gambold Vintage

Posted
Posted

I looked into CIS and got a quote but there were a few things in the application process that caused me to pass on them.  First, their site kept crashing on application submission and I finally had to email them to confirm that my app submitted. Next, there was no way to pay them online, they wanted me to call them with my credit card. That indicates a weak online setup and probably no client account portals.  Finally, I had to ask several times to see the policy - they finally sent me a generic one as a PDF. 

In summary, while I don't doubt they are reputable, they are a too behind the times in 2021 for me.  I prefer online service, an account portal, and I don't like to have to email companies several times during the application process - it speaks to problems on down the line if I have to file a claim. 

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alexgross.com

alexgross.com

Posted
Posted

be nice ultimately to hear if anyone with markel or any other company here ever makes a claim, and how it goes. i went with CIS because a few people said that their claims were paid, which is the most important thing obviously. of course i don't wish misfortune on anyone, just would love more data about performance. 

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zosocane

zosocane

Posted
Posted

i've been using CollectInsure for ~ 8 years.  I have never had any issue with them, and they've been responsive.  Fortunately, never had to file a claim, so I can't speak to their claim processing.  But initial underwriting and annual renewals were easy-peezy.

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marvelmaniac

marvelmaniac

Posted
  • Popular Post
Posted
5 hours ago, ExNihilo said:

I'm just curious what the annual rates are.  With the valuation of books and collectibles on the rise, how much are we looking at to cover $10k in books?  $20k?

I have no problem discussing cost...

I am insured for $35,000.00 at an annual cost of $193.00.

 

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ExNihilo

ExNihilo

Posted
Posted
2 hours ago, marvelmaniac said:

I have no problem discussing cost...

I am insured for $35,000.00 at an annual cost of $193.00.

 

That's a lot cheaper than I was expecting.  I dunno why, but in my head I had visions of the prices being closer to $193/month.  If that's the annual rate, then I'll have to begin seriously looking into it for my collection as well.

Thanks.

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CatskillMike

CatskillMike

Posted
Posted

I have 20k in insurance (inadequate with the current rise in keys) and pay $107. CIS

Somebody earlier mentioned you should cover your cost basis.  I respectfully disagree.  I bought my Xmen 1 in VG about 18 years ago for $690. When I value my collection for insurance purposes, I don't use $690 as part of the equation. I will now use $10,000 evaluation. 

 

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musicmeta

musicmeta

Posted
Posted

All of this information on insurance your books is most informative.  I didn't know about Markel and American Collectibles Insurance.  
I'll be looking into insuring my books here pretty soon.  Like all of us, we all want to know how they handle a claim.  
I wish there was more claim info like "how smoothly was a claim handled" but I don't wish anybody to have a file a claim though.  

 

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BigLeagueCHEW

BigLeagueCHEW

Posted
Posted
On 3/7/2021 at 6:16 PM, serling1978 said:

I just hope they cover the theft of my multiple AF 15's in CGC 9.0 that are going to get stolen tomorrow. hm

Submitting photos from Heritage Auctions of other peoples books don't count :roflmao:

 

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