Collectibles Insurance - anyone have experience?

[memorabiliaunlimited]

hello all - i was wondering if anyone has had any experience with Collectibles Insurance? their premium is about half of what every other insurance carrier has offered, which seems too good to be true. has anyone had a claim with them and do they actually pay? any information would be helpful. thanks!

[stitzerfse]

They are an insurance agency- not an actual insurer themselves. Shoot me an email if you're looking for more info on the differences and what types of things you should look for w/ a carrier.

[joshmiller0]

I use this company: http://americancollectors.com/

[sorklora]

I use Collectibles Insurance as they were recommended by my Homeowner's Insurance company and have great standing in the insurance world. While they aren't the actual insurers, they are owned by Global Indemnity plc which has only 'A' rated insurance companies under its control, so you are getting a top notch company. They also do not have a deductible like other companies do, and have been around for longer than most collectible insurers. I am sure other companies are good, as well, but this is the company that is consistently recommended by other insurance companies who don't cover collectibles.

[danesei@yahoo.com]

When you say "Collectibles Insurance," do you mean Collect Insure?

Also, does anyone know if there are any insurers that accept claims for sun/acid or other aging damage?

[memorabiliaunlimited]

yes - Collectibles Insurance Services, or Collect Insure.

i did a lot of calling around looking for a company that will insure sports memorabilia. suffice to say, almost NO ONE wants to do it LOL. i was recommended Collectibles Insurance Services from the insurance broker that does my regular homeowners insurance, and so far everything appears to be good. their premium was literally half of the cost of every other quote i received, and their deductible is very low - $200-$250 (cant remember off the top of my head). the do not require an appraisal up front, you just have to provide proof that you owned the item in the event of a loss and then you are reimbursed with the market value (that determination will probably be fun LOL, but i will cross that bridge, if ever, when i get to it).

thanks to all who gave any advice. if you have any questions about how i got my policy, feel free to shoot me an email and i will tell you all i can.

[johnsontravis@ymail.com]

Two thoughts:

Are collectibles not covered under normal homeowner or renters insurance?

I don't think they would cover something like aging damage. That sounds like trying to claim your laptop because it is old and doesn't work right.

[danesei@yahoo.com]

Two thoughts:

Are collectibles not covered under normal homeowner or renters insurance?

I don't think they would cover something like aging damage. That sounds like trying to claim your laptop because it is old and doesn't work right.

Yeah, I didn't think anyone really would cover sun damage, but I figured it was worth asking. As for the first part, it depends on your policy. Some require you to add a collectibles rider and get additional coverage, then you need to catalogue everything (usually with pictures or descriptions).

[Jags Fan Dan]

Two thoughts:

Are collectibles not covered under normal homeowner or renters insurance?

I don't think they would cover something like aging damage. That sounds like trying to claim your laptop because it is old and doesn't work right.

I have said this before on this forum. I have adjusted property claims for 14 years. The HO3 policy that most homeowners would have does not have any exclusions or limitations on memorabilia. However, if you have an extensive, high dollar collection, you would need to consider what happens if your entire house burns down. Will you have enough coverage for all of your regular contents and your collection? Also, if you have a piece (or more) individually that are very high value, a rider makes sense because it is an agreed value (if you insure the piece for 15k and it is damaged, you get 15k) and it is in addition to your other contents limit.

[joshmiller0]

I have said this before on this forum. I have adjusted property claims for 14 years. The HO3 policy that most homeowners would have does not have any exclusions or limitations on memorabilia. However, if you have an extensive, high dollar collection, you would need to consider what happens if your entire house burns down. Will you have enough coverage for all of your regular contents and your collection? Also, if you have a piece (or more) individually that are very high value, a rider makes sense because it is an agreed value (if you insure the piece for 15k and it is damaged, you get 15k) and it is in addition to your other contents limit.

I have geico.. they told me if something were to happen to a game used jersey they would replace it with a retail jersey