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I know this topic has been brought up and I saw the previous threads
pertaining to insuring your collection but most posters shared just the
company they were covered by. If anyone that has any experience,
preferably COLLECT INSURE, from what they had to do to obtain coverage
I would appreciate it and I'm sure with the recent natural disasters recently
many here would like to know as well.
I contacted Collect Insure since its the only company I know of
that specializes in collectibles. I used their online quote generator and
gave them a quick call. They told me it might help to have photos/videos of
my items, especially the higher end stuff, but not necessarily every single item.
They also suggested I can scan all my purchase receipts to cover the
"Cost of Goods Sold" and upload it into a online "cloud" storage so in the
event the paperwork gets destroyed or stolen, my records are safe.
However maybe because I was just inquiring, I felt like I received
the " listen, you can do whatever makes you feel better" treatment over
the phone. Its easy to get coverage but a coverage is only as good as how
they handle a claim so to me nothing is more important than
preparing in the event I have to file a claim rather than scrambling after
something happens.
Being that I am a dealer, I am planning to get a blanket coverage so that
I don't have to update my records every time I take in new inventory but
I got an uneasy feeling that coverage is too easy to obtain however it just
may be how the insurance industry works. This whole industry as a whole is
so unregulated I'm just wary it doesn't trickle down to the insurance level as well.
I tried home owners but basically I would have to itemize everything and
create a new schedule but that's doesn't make sense for someone like
me who does this for a business.
I was wondering if anyone has any suggestions or can share their
experience on how they obtained their coverage, what measures they
took to protect themselves in the event they would have to file a claim
(i.e. took pictures, video, kept receipts, etc) and if they ever had to
file a claim.
Any input would be appreciated.
Thanks
pertaining to insuring your collection but most posters shared just the
company they were covered by. If anyone that has any experience,
preferably COLLECT INSURE, from what they had to do to obtain coverage
I would appreciate it and I'm sure with the recent natural disasters recently
many here would like to know as well.
I contacted Collect Insure since its the only company I know of
that specializes in collectibles. I used their online quote generator and
gave them a quick call. They told me it might help to have photos/videos of
my items, especially the higher end stuff, but not necessarily every single item.
They also suggested I can scan all my purchase receipts to cover the
"Cost of Goods Sold" and upload it into a online "cloud" storage so in the
event the paperwork gets destroyed or stolen, my records are safe.
However maybe because I was just inquiring, I felt like I received
the " listen, you can do whatever makes you feel better" treatment over
the phone. Its easy to get coverage but a coverage is only as good as how
they handle a claim so to me nothing is more important than
preparing in the event I have to file a claim rather than scrambling after
something happens.
Being that I am a dealer, I am planning to get a blanket coverage so that
I don't have to update my records every time I take in new inventory but
I got an uneasy feeling that coverage is too easy to obtain however it just
may be how the insurance industry works. This whole industry as a whole is
so unregulated I'm just wary it doesn't trickle down to the insurance level as well.
I tried home owners but basically I would have to itemize everything and
create a new schedule but that's doesn't make sense for someone like
me who does this for a business.
I was wondering if anyone has any suggestions or can share their
experience on how they obtained their coverage, what measures they
took to protect themselves in the event they would have to file a claim
(i.e. took pictures, video, kept receipts, etc) and if they ever had to
file a claim.
Any input would be appreciated.
Thanks
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