Comic Book Insurance Policies

[comicdonna]

anyone have any experience with a claim. tecnically you could say you were robbed . file a police report for your $40K in books and get paid. don't sound right.

That's exactly what I was thinking. It would seem, that you would need some kind of proof of ownership. If your books were damaged from a flood, you would still have the books as proof of damage, but what about a severe fire or break-in? I just can't see, how an insurance company is going to shell out for damages, without some kind of proof, that you owned the collection in the first place. Otherwise, a person could sell them, and say they were stolen. When I bought my wife a 1.56 karot certified diamond ring, I purchased insurance on the stone, and if it fell out of the ring, she would be paid the value of the stone, but if the whole ring was stolen, she would be out of luck.

 

BTW interesting topic.

 

Mike

[CatskillMike]

BTW interesting topic.

 

Why, thank you!

[delekkerste]

I've used CIA for the last 2 years or so for all my collectibles. I haven't really noticed a significant rate increase but perhaps I just wasn't paying attention.

 

I've always found their service to be excellent.

 

CIA underwent an ownership change earlier this year. I think there are a lot of new people there because the customer service has been off since then. Someone there told me a couple of weeks ago that my policy only covered the items I had out in California and not in New York (somebody else later corrected that and confirmed that it was blanket coverage). I called to update my policy yesterday and they told me it had expired, even though I was holding the receipt confirming payment in May. They also told me that all changes and updates had to be made in writing as of February, even though I got my May changes done over the phone. And then they told me, after they found that my policy hadn't expired, that my coverage amount was the old amount before I paid to have it increased in May.

 

I'm still waiting for a call back from someone who can actually get the changes and corrections done that I am requesting.

[CentaurMan]

Man, that's one sucky datapoint after another. Is there a competing comic insurer that other people use? Or is CIA pretty much it?

 

And again, has anyone ever filed a claim with these guys? If so, was it contested? And how much did rates change afterwards?

[delekkerste]

Update: I was promised a revised copy of my updated policy 3 weeks ago and still have yet to receive it. Also, my credit card has still not been charged for the requested increase in coverage. WTF is going on over there? It used to be so easy to deal with CIA and lately things have been anything but smooth.

[Nostalgic Attic]

Update: I was promised a revised copy of my updated policy 3 weeks ago and still have yet to receive it. Also, my credit card has still not been charged for the requested increase in coverage. WTF is going on over there? It used to be so easy to deal with CIA and lately things have been anything but smooth.

 

 

I hear you. I contacted CIA after seeing this thread and asked them about purchasing a policy. I 've practically been begging them to take my money for about a month now, but can't get a policy. I also asked for a copy of the policy to review as I had the same obvious question everyone else has. How is a claim resolved if I am not required to document my collectibles? Seems they could just as easily deny a claim for the same reason they pay one.

 

I would be interested in hearing from someone who has filed a claim.

[HouseofComics.Com]

I'm glad this thread got bumped up because I missed all the June 20th and 21st posts. Very interesting to learn that there's been a change in ownership. Now I have an explanation for the huge increase in my rates.

 

I'll probably be talking to Farmer's next month for a combo of liability ins. and inventory insurance that a buddy of mine has. I'll see how the collectibles part looks. I'm paying a lot more than $40 or $54 but I'm also covered in a couple locations plus everything is covered if I have something damaged or stolen at a convention or en route.

 

Marc

[CatskillMike]

Geez, I oughta get a commission from these guys for selling so many policies for them

 

Anyway, I just bought a new policy about 3-4 weeks ago and had no problem, but I did not rely on them to send me the application. I downloaded the application and sent it in with the payment, and about 10 days later the policy showed up. I called them to verify the fees and sent it in with the application. I also have a chart with the fees on it, now that I have a policy.

[Johnny G]

A lot of us use CIA (Collectibles Insurance Agency)

 

Does anyone know of a similar outfit for Canadians?

 

Would like to know as well.

 

Anyone???

 

 

[divad]

Just sell them all before they become a pile of dust . . .

[Silver Surfer]

Anyone have an idea what coverage is available in Canada?

[spider9698]

I just got off the phone with them today and had a fairly intelligent conversation. A few nice things about them:

1) If you mail quite a bit of art or books, you can save on the shipping insurance since you are covered with CIA's policy (excluding UPS). It makes paying your premiums a bit less painful.

2) I was in the process of filing a claim this year on a lost piece of art. They were very friendly and helpful and just needed a few pieces of information before filing the claim. Fortunately, the art turned up so it was not needed.

My 2 cents

[HouseofComics.Com]

That's interesting. When I signed up it was an additional fee to have the shipping insurance.

[FFB]

I just got off the phone with them today and had a fairly intelligent conversation. A few nice things about them:

1) If you mail quite a bit of art or books, you can save on the shipping insurance since you are covered with CIA's policy (excluding UPS). It makes paying your premiums a bit less painful.

2) I was in the process of filing a claim this year on a lost piece of art. They were very friendly and helpful and just needed a few pieces of information before filing the claim. Fortunately, the art turned up so it was not needed.

My 2 cents

 

If you are SELLING books, if you want the protection you describe, you need a DEALER policy from CIA, in addition to the COLLECTOR policy you need for your own collection. They are separate policies.

 

If you do any kind of shows (even local shows) and you want your collection covered, you also need a DEALER policy. Just FYI.

[Nostalgic Attic]

I just got off the phone with them today and had a fairly intelligent conversation. A few nice things about them:

1) If you mail quite a bit of art or books, you can save on the shipping insurance since you are covered with CIA's policy (excluding UPS). It makes paying your premiums a bit less painful.

2) I was in the process of filing a claim this year on a lost piece of art. They were very friendly and helpful and just needed a few pieces of information before filing the claim. Fortunately, the art turned up so it was not needed.

My 2 cents

 

If you are SELLING books, if you want the protection you describe, you need a DEALER policy from CIA, in addition to the COLLECTOR policy you need for your own collection. They are separate policies.

 

If you do any kind of shows (even local shows) and you want your collection covered, you also need a DEALER policy. Just FYI.

 

I'll second that. I was advised to obtain a dealers policy if I sell on ebay and because I have the for sale list at my sig line. If in the unlikely event I needed to file a claim due to theft, there would be no problems with the claim.

 

...still trying to get coverage of any kind though...guess I'll abandon the e-mail correspondence and try actually calling them.

[delekkerste]

Update: I was promised a revised copy of my updated policy 3 weeks ago and still have yet to receive it. Also, my credit card has still not been charged for the requested increase in coverage. WTF is going on over there? It used to be so easy to deal with CIA and lately things have been anything but smooth.

 

YET ANOTHER UPDATE

 

OMFG, what has happened to CIA? I was reassured repeatedly via e-mail that all the problems that I have mentioned in this thread were resolved. So, I didn't bother to open up the revised policy info that they sent via U.S. Mail. Until today. When I found out that my entire Scheduled Items list has disappeared. When I found out that my policy number has inexplicably been changed yet again. When I found a bunch of inexplicable charges and cancellations on my account (Change Premises charge? I haven't moved! Write-offs? What write-offs?) When I found that they had sent an unpaid invoice instead of charging my credit card as I had asked.

 

At this point, I am beyond appalled. If I had to file a claim now, I don't know which of the several policy numbers they have for me are in effect, which items are listed as Scheduled, what the amounts they are billing me mean, etc. How can I possibly have any confidence that they will be there to support me if I have to file a claim? My fellow policyholders, I think we all need to closely examine WTF is going on over there and ask ourselves whether we are really protected or not. This is not the same company it was before the ownership change.

[Harvey Dude]

And again, has anyone ever filed a claim with these guys? If so, was it contested? And how much did rates change afterwards?

 

It would be interesting what type of roadblocks they would put into place if you did try to collect on a policy. Collectables Insurance cancelled my policy earlier this year because they noted that I am not covered while living overseas, though my collection resides in the U.S. The fact that my collection resides in the U.S. was clearly documented on my insurance application. After collecting premiums from me, it would have been interesting if they would have denied any payment to me, if I were to have filed a claim. I guess the ownership change resulted in changes in who is covered. I need to find another insurance company. Has anyone tried St. Paul's Travelers?

[delekkerste]

There is also somebody called St. Paul's travelers in the CBG also.

 

Does anyone have the website for the St. Paul's collectibles insurance program? Anyone a policyholder here?

[HouseofComics.Com]

This has all turned very interesting. I'd love to hear about St. Pauls as well.

[spidrvacc]

I have my insurance at CIA and while it went smooth . I got my policy and sent a check which was cashed. When I called for a question they were lost and could not even explain to mw why I did not need to send a list of my books in. This is a bad situation . I can see them trying not to pay a claim and a fight ensuing. I had back in the day called the St Paiuls company and there policys were alot higher than CIA ( I cant remember but they were really high) but hey if they are reputabale and are good its better than to be cheap with a company that is in chaos. Only issue is I have never met anyone who has dealt with ST Pauls.