NWOslave Posted November 8, 2021 Share Posted November 8, 2021 I am considering buying collectible insurance for my comics. Certain aspects of my collection are getting valuable and just in case something bad happens i dont want it to be a total loss. What advise can any of you provide for someone new to the process? questions off the top of my head: any recommended companies? do you insure your whole collection or just certain books? how do you assign value? how do you keep up with value? thanks Link to comment Share on other sites More sharing options...
alexgross.com Posted November 8, 2021 Share Posted November 8, 2021 On 11/8/2021 at 12:13 PM, NWOslave said: I am considering buying collectible insurance for my comics. Certain aspects of my collection are getting valuable and just in case something bad happens i dont want it to be a total loss. What advise can any of you provide for someone new to the process? questions off the top of my head: any recommended companies? do you insure your whole collection or just certain books? how do you assign value? how do you keep up with value? thanks collectibles insurance services (www.collectinsure.com) insure the most you can lose if one site (home, bank box, etc) explodes and all books there are lost. or all sites in one city if an earthquake or other natural disaster has a legit chance of destroying the buildings housing the books. gpanalysis.com is a good way to determine value. but also keep up with and record results of auctions on comiclink.com since they do not report to gpa and often establish new prices for key books. KCOComics and NWOslave 2 Link to comment Share on other sites More sharing options...
Vixom Posted November 8, 2021 Share Posted November 8, 2021 If you do a search you will find all sorts of forums on this topic. Basically every insurance company is excellent at taking your payments and like 1 out of every 1000 people have actually made a claim attempt. The one mentioned above is well known and popular. I have heard they pay out but once they do you will need to find another insurer. What and how much you insure is up to you. Sold history. Other than that I have no idea. Never had collectible insurance. An amateur isn't cracking or hauling off my safe. A professional isn't breaking in without knowing what I have and I protect that information. Even then they would have to be KGB or something to get past my alarm without me knowing. Waterproof safe in non flood zone. Close enough to fire department that it will be put out in time. Most people pay more to the insurance company than they receive in claim payouts. Not suggesting that you don't get insurance. I just know a lot of people who don't have it because of the cost risk for their situation. Link to comment Share on other sites More sharing options...
rexinnih Posted November 9, 2021 Share Posted November 9, 2021 Based on feedback from the board and others, I just signed up for CIS (Collectibles Insurance Services) myself recently. There are a few things that they ask, do you have things in a safe or a home monitoring alarm service and is any one comic worth over $24K. You can put in information for a quote on their website and they will follow up with you if you have any questions. Link to comment Share on other sites More sharing options...
Aman619 Posted November 9, 2021 Share Posted November 9, 2021 Ask a lot of dumb what if questions. Like what if I drop my insured book and it gets damaged. Can I take my comics to a convention? What happens if I ship them and they are lost, or damaged? Being covered isn’t exactly what we think we are paying for…. Best to be prepared to avoid that awful call after a loss when you find out you only assumed you’d collect on. KCOComics and musicmeta 2 Link to comment Share on other sites More sharing options...
KCOComics Posted November 9, 2021 Share Posted November 9, 2021 Lots of good advice so far. I have used CIS for years. Never had to file a claim, so I can't speak to that. I will say they are extremely responsive whenever I have questions and for that reason I tend to recommend them. There is a well known collector / dealer on the boards who did file a claim. It was a shipping incident and he had it paid without a problem. Brandon Shepherd and alexgross.com 2 Link to comment Share on other sites More sharing options...
marvelmaniac Posted November 9, 2021 Share Posted November 9, 2021 On 11/8/2021 at 8:44 PM, KCOComics said: Lots of good advice so far. I have used CIS for years. Never had to file a claim, so I can't speak to that. I will say they are extremely responsive whenever I have questions and for that reason I tend to recommend them. There is a well known collector / dealer on the boards who did file a claim. It was a shipping incident and he had it paid without a problem. I agree 100% with the above statement, I have been using CIS for about 15 years now, easy to get insured, you name the amount of coverage you want, you can add/remove items from your collection at anytime, change the insured amount at anytime. I originally sent them a list of all books/collectibles and at the end of each year I would send them an updated list with that years purchases and they added it to my file. I went a little overboard (OCD) and in 2015 I graded, catalogued and photographed 2000+ books which are stored on my laptop and two separate flashdrives and sent them an upgraded list, I could have also sent them a flashdrive with all of the pics and lists. Currently I am paying $190.00 annually for $35,000.00 in coverage. Link to comment Share on other sites More sharing options...
Aman619 Posted November 10, 2021 Share Posted November 10, 2021 (edited) They only require a list of any items worth more than $25000 each They are called “Scheduled Items”… I’m surprised they haven’t told you not to bother sending a full list… for years the cut off was only $10000 until recently. That shows how little they care to be tracking lower value stuff at all. They will honor what you say you lost if you make a valid claim. Edited November 10, 2021 by Aman619 alexgross.com 1 Link to comment Share on other sites More sharing options...
MrPcfixer Posted April 17, 2023 Share Posted April 17, 2023 On 11/8/2021 at 3:13 PM, NWOslave said: I am considering buying collectible insurance for my comics. Certain aspects of my collection are getting valuable and just in case something bad happens i dont want it to be a total loss. What advise can any of you provide for someone new to the process? questions off the top of my head: any recommended companies? do you insure your whole collection or just certain books? how do you assign value? how do you keep up with value? thanks Its ADVICE not ADVISE. See the difference is when you ask for someones ADVICE versus someone who is ADVISING you on subject matter. Odd you would correct grammar of others yet not grasp your own mistakes. Link to comment Share on other sites More sharing options...
Popular Post Tnexus Posted April 17, 2023 Popular Post Share Posted April 17, 2023 On 4/17/2023 at 7:08 AM, MrPcfixer said: Its ADVICE not ADVISE. See the difference is when you ask for someones ADVICE versus someone who is ADVISING you on subject matter. Odd you would correct grammar of others yet not grasp your own mistakes. I love how you felt it necessary to comment on a 17 month old post about someone's grammar. ttfitz, silverseeker, Dr. Balls and 3 others 3 3 Link to comment Share on other sites More sharing options...
Lazyboy Posted April 17, 2023 Share Posted April 17, 2023 On 4/17/2023 at 11:27 AM, Tnexus said: I love how you felt it necessary to comment on a 17 month old post about someone's grammar. But he thought NWOslave was being petty, so he had to... um, wait... huh. ttfitz and Juno Beach 2 Link to comment Share on other sites More sharing options...
jcjames Posted April 18, 2023 Share Posted April 18, 2023 Link to comment Share on other sites More sharing options...
THE_BEYONDER Posted April 18, 2023 Share Posted April 18, 2023 Link to comment Share on other sites More sharing options...
onlyweaknesskryptonite Posted April 18, 2023 Share Posted April 18, 2023 Link to comment Share on other sites More sharing options...
Popular Post Brandon Shepherd Posted April 18, 2023 Popular Post Share Posted April 18, 2023 I’ve had CIS since 2011, I’m working on my first claim with them for a CGC book damaged during shipping. I’ll post here on how it goes. Flanders82, BuscemasAvengers, jcjames and 3 others 3 3 Link to comment Share on other sites More sharing options...
Aman619 Posted April 18, 2023 Share Posted April 18, 2023 curious why you want to make a claim for one book. Insurance companies dont really like a lot of claims from each customer, like an ATM, and have cancelled accounts for claims. I find it best to have insurance only in the case of a very large loss! Just as a collecting expense, cost of doing business thing. Link to comment Share on other sites More sharing options...
shadroch Posted April 19, 2023 Share Posted April 19, 2023 (edited) That would depend on the book, no? If an X-Men 147 gets damaged, maybe not. If a BB28 is damaged, there would be little question. Edited April 19, 2023 by shadroch Link to comment Share on other sites More sharing options...
