Where do I go for an appraisal for insurance reasons? 3 3

[NoMan]

So I gotta big book. CGC blue label. Insurance wants an appraisal. HA where I got book isn’t really getting back to me. I’d pay ‘em to do an appraisal, but no return call, like a girl stood up after a night in the motel after prom. 
 
what do I do? Insurance is bugging me. My wife is bugging me. Everyone is bugging me. Who can I bug?

thanks In advance 

[NoMan]

My Financial Guy said this was gonna happen

”you gotta pay to store it, you gotta pay to insure it, you gotta pay to appraise it”

blah blah blah

[Dr. Love]

switch insurers?

[NoMan]

1 minute ago, Dr. Love said:

switch insurers?

Then what do I tell the new insurers? Come on people, I need answers!

[Dr. Love]

most of us who have insurance have it through CIS 

https://collectinsure.com/comics

"Unlike homeowners insurance, we do not require a schedule or appraisal for most items; however, you are responsible for maintaining your own inventory for insurance purposes (in the event of loss). The only exceptions are individual items or sets valued over $25,000 apiece, which would have to be scheduled."

A "schedule" is a separate rider where you name the comic in question, supply the cert number.  It doesn't cost extra.

Edited June 14, 2021 by Dr. Love

[Scrooge]

PM @ comicwiz

He has expertly posted on this issue in the past.

Edited June 14, 2021 by Scrooge

[NoMan]

Earth to Comicwiz!

[NoMan]

8 minutes ago, Dr. Love said:

most of us who have insurance have it through CIS 

https://collectinsure.com/comics

"Unlike homeowners insurance, we do not require a schedule or appraisal for most items; however, you are responsible for maintaining your own inventory for insurance purposes (in the event of loss). The only exceptions are individual items or sets valued over $25,000 apiece, which would have to be scheduled."

A "schedule" is a separate rider where you name the comic in question, supply the cert number.  It doesn't cost extra.

So I can just arbitrarily say my Dazzler #9 is worth a million dollars? 
 

has anybody ever tried to collect from these cats?

[valiantman]

5 minutes ago, NoMan said:

So I can just arbitrarily say my Dazzler #9 is worth a million dollars? 
 

has anybody ever tried to collect from these cats?

The #1 insurer for collectibles is the one you want to make fun of... instead of your own insurance guys who have no idea what they're doing.

Good call.

[NoMan]

10 minutes ago, valiantman said:

The #1 insurer for collectibles is the one you want to make fun of... instead of your own insurance guys who have no idea what they're doing.

Good call.

No problem. Like I asked, anybody ever had to make a claim? I’ll listen then

Edited June 14, 2021 by NoMan

[Axmen]

Second Collectinsure.com  Call and talk to them.

[Dr. Love]

Some, very few, have made claims - and collected from CIS.  Anecdotal evidence is scarce, but seems to support the notion that it is a non challenging affair, at least for claim #1.   Subsequent claims might be a different story, no one has weighed in on this to the best of my knowledge.

This is CIS' business, they specialize in this.  One might expect an outrageous claim would be met with resistance.  As well it should be.

At the very least the insurer could expect paperwork supporting your purchase price as a basis for a recovered amount.  In the case of a big book that would be reasonable, yes?  And this isn't 20 years ago, now with all the liquidity in the comic market and a wealth of data to be had particularly GPA on slabs, market value is also relatively easy to arrive at.  What's your concern?  That CIS won't pay out - as compared to your home insurer who absolutely won't pay out on your AF 15 which could be worth more than your house?  If you think an appraisal will save the day for an outfit that doesn't deal in collectibles, think again.

 

[NoMan]

1 minute ago, Dr. Love said:

Some, very few, have made claims - and collected from CIS.  Anecdotal evidence is scarce, but seems to support the notion that it is a non challenging affair, at least for claim #1.   Subsequent claims might be a different story, no one has weighed in on this to the best of my knowledge.

This is CIS' business, they specialize in this.  One might expect an outrageous claim would be met with resistance.  As well it should be.

At the very least the insurer could expect paperwork supporting your purchase price as a basis for a recovered amount.  In the case of a big book that would be reasonable, yes?  And this isn't 20 years ago, now with all the liquidity in the comic market and a wealth of data to be had particularly GPA on slabs, market value is also relatively easy to arrive at.  What's your concern?  That CIS won't pay out - as compared to your home insurer who absolutely won't pay out on your AF 15 which could be worth more than your house?  If you think an appraisal will save the day for an outfit that doesn't deal in collectibles, think again.

 

[MattTheDuck]

So your insurer won't accept the receipt for what you paid as the insurable value?  Or did you get a great deal and the book's worth more?

[NoMan]

10 minutes ago, MattTheDuck said:

So your insurer won't accept the receipt for what you paid as the insurable value?  Or did you get a great deal and the book's worth more?

It’s increased substantially. Want to insure at new value. 

[Artboy99]

ask the insurer what kind of an appraisal they would accept.

For a valuable comic you would likely need to take the book to a recognized comic book store in your area.

[piper]

36 minutes ago, Artboy99 said:

ask the insurer what kind of an appraisal they would accept.

For a valuable comic you would likely need to take the book to a recognized comic book store in your area.

Which is ironic because most local shops at least in my neck of the woods don’t know how to price or grade.

LCSs are more about collected editions these days.

[NoMan]

8 minutes ago, piper said:

Which is ironic because most local shops at least in my neck of the woods don’t know how to price or grade.

LCSs are more about collected editions these days.

Yeah. I need a pro

[MattTheDuck]

1 hour ago, NoMan said:

It’s increased substantially. Want to insure at new value. 

Can't blame you.

[grebal]

For authentication, picture of your gem with some identifying criteria couldn't hurt, and might even be sufficient for a renewal or update by a carrier who's already seen the item in person.  Noman uses newspapers any more, so find recent mail (?) that shows the USPS date stamp, and include all three items -all in the same pic- the comic w Cert #, your drivers license, and the mail?

Though I suppose given the availability of deep fake photography even that might be inadequate.

 

Edited June 14, 2021 by grebal
fix pic