Insurance/security for your collections...

[ndevlin]

This might sound silly, but I was wondering what everyone did for security with all of their collections? Safety deposit boxes perhaps for some auto's or cards? A safe for your bats? Insurance on your whole collection?

The reason why I ask is because I would feel absolutely horrible if all of my bats, for example, went up in flames. I thought about getting a gun safe, but it doesnt fit that many bats. What do you guys do?

[Vintagedeputy]

Security?




Insurance?

[WadeInBmore]

This question came up about 6 months ago...and it got me thinking. I began to tally the value of my collection of stuff: cards, game used items, autographed memorabilia, movie props. It came to an overwhelming amount of money and I decided to do something about it, just as you are considering I am assuming.

I personally like to display my items, so for me it gave me reassurance that should some (heaven forbid) break into my home and steal what I have out, I am protected.

Another member posted information about a place called Collectibles Insurance Agency. I called them and researched them. I felt really comfortable speaking with their representative and she answered all my questions immediately, confidently, and put no pressure on me what so ever to start an account with them. I even went by there offices (located in Hunt Valley, Maryland...a suburb around Baltimore) and was astonished to say the least! They're entire staff was friendly responsive and enjoyed talking about collectibles!!!!!!!!!! A lot of them even collected!!!!

For 200 bucks a year I was able to get approximately $45,000 worth of coverage...and a piece of mind. I am protected through and through: fire, flood, theft, you name it they cover it. I highly recommend them...check em out when you have a moment.

http://www.collectinsure.com/

I wouldn't have known about these guys if it wasn't for this forum. Good luck with your collecting and I hope that this information helps you out as much as it did me.

wade

[DrJ]

Personally, I like vintagedeputy's idea of security and insurance.

[Jags Fan Dan]

Personally, I like vintagedeputy's idea of security and insurance.

Oddly enough, as a claims adjuster, I can tell you guns are one of the first things stolen from houses. 99% of the theft claims I have seen, no one was home at the time of the break in. So a gun would not only do you no good, but it would probably turn up missing as well!

[bigtruck260]

I add it to my homeowner's insurance. It costs me $1.00 per hundred dollars of inventory. I pay once a year...in addition to my premium, which is covered by my mortgage payment.

We also have ADT - but that is more for my wife and son when I am not home...

Bats are a hard sell around me. Most of the local dealers know me, and I would be able to spot them on eBay. My collection is also documented in photos and descriptions...so if I have to go to pawn shops, I have proof that the item is mine. It would take a savvy theif to know how to doctor a bat without ruining it...

Dave

[Tay1038]

Security?




Insurance?

Hahahah! I love it. Good humor.

[Jags Fan Dan]

Interestingly, I just got my new policy from Farmers in the mail yesterday. It has special limits for sports cards, but no special limit for memorabilia.

[ndevlin]

Hmm, what are the special limits on cards? Do you mind if I ask what you pay for it? You can email me if you would like.

Nathanieldevlin@Yahoo.com

[Jags Fan Dan]

I don't have a problem answering these questions here. Just know that rates are going to vary greatly between different areas. Some companies are looking to add market share in some areas, so they will cut their rates in that area. Others will look to decrease their share of policies in certain areas, so they will deliberately raise their rates to the point of it being ridiculous. For example, I just switched from All State as they were increasing my premiums over 30% (I have never had a claim: auto, home, nothing). Now, back to the questions:

1. I believe ( I am at work now and will verify this later) that the special limit was $2,500 for sports and game cards.

2. Our premium is $439 per year for $209k on the house, 175k on personal property. I can't remeber what the liability limits are, but I think it was $300k/100k. We got discounts for non-smokers, educator (my wife teaches) and maybe some other stuff. Farmers is big on the miscellaneous discounts!