Collection Insurance service ?

[DREW]

Not sure if this it the best forum for this but does not seem to fit the others, anyway if you feel it needs to be moved please do so.


I was at a collectibles show today and ran across an insurance service that specializes in collectibles and was curious if anyone has dealt with or heard about CIA ( Collectibles Insurance Agency )

There service sounds great, No inventory requirement except on individual items over 5,000 No Appraisal required and the coverage is for the current market replacement value ( ebay accepted ). Coverage includes theft, fire, flooding hurricanes, earthquake, tornados and breakage, also covers shipping and mail up to 200.00 per loss, Certified or insured mail up to 2,500 and Internet transactions to 250.00

There Annual cost seems very reasonable 76.00 a year for 20,000 coverage.

I need to look into this more but was hoping someone may know something about them.

If anyone else is interested here is there web address: www.collectinsure.com

[maxlords]

Don't know, but that sounds damned interesting! :)

[digitalpress]

This is very "on topic", moving to the main gaming forum.

>> it's just a jump to the left <<

[punkoffgirl]

So, who here DOES have insurance? Joe, didn't you get some kind of coverage on your collection?

[maxlords]

I'm actually looking into getting insurance now. It's about $200 a year for $40,000 Cdn in coverage here for renter's insurance, which covers fire, theft, wind, water, and pretty much everything else you can think of. I'm figuring I'm gonna need about $60,000 in coverage between my games and the rest of the crap we own, cause they want you to estimate the actual replacement value, not the current going rate. Either way, a few hundred a year is a small price to pay IMO to protect your collection, and I KNOW some of you have bigger collections than I do.

[digitalpress]

So, who here DOES have insurance? Joe, didn't you get some kind of coverage on your collection?

Yes, through Prudential. There are two ways to go. You can just rely on your homeowner's insurance to cover your costs in a claim (I didn't trust that route since our house was robbed once and this was not satisfactory to me) or you can get them insured as a separate item as you would for jewelry. That second route is more complicated - I provided Pru with pictures and a pretty detailed description of what was being insured. I didn't go into every single item but was sure to include every "valuable".

I'm working with local agents to get to the higher powers as well, to use the DP Guide as their "book" for assessing values. It's been a long road!

[Nature Boy]

My wife mentioned it the last time we talked to our insurance agent about her engagement ring (which has to be insured separatly). My collection is totally covered under contents insurance.

I'm not sure if keeping a list is a requirement or not, but I do that anyway (since I love lists) so it's a non-issue for me. I actually have the serial numbers of everything written down too (as well as full lists of my DVDs, Comics, Books, and CDs).

It sounds like a scam to me. My wife's ring, the single most expensive item we own (outside of our cars and the house of course) is maybe $20 a year in insurance (which also covers the diamond falling out). $75 a year seems pricey.

[Darth Vader]

Joe's idea is probably the best. I have secondary coverage on my homeowner's policy (it is a 2nd policy) through my insurance company. I would be careful with some company claiming what they did in the first post. It is usually best to work with your own insurance agent. Most are more than willing to help you make sure you are covered. It may cost you a little more to work with your own insurance company, but you should feel more secure if the time comes that you have to use it. The insurance company I work with is American Family Insurance (I believe they are just in the midwest)

Later.............

Danny

[ianoid]

I have coverage through my homeowner's policy without pix. I think the coverage is something like 40k. When I unpack the lot (the actually covered it out of state and in storage) I'll generate some pix and try to increase the coverage. My coverage is through AAA's underwriters and is pretty reasonable (I think they are called American Commerce.) It's always cheaper to buy insurance in bulk and get your other policies (Auto, whatever) through the same service, when possible.

I agree, this collection is valuable enough not to let burn if something were to happen.

Originally I was looking for collectors insurance, and some of the policies included tradeshow coverage and such- probably more important for antiquey people, but still, it would have been nice.