Collectors' Insurance

Discussion in 'Transformers General Discussion' started by Bryan, Jan 5, 2007.

  1. Bryan

    Bryan ΜΟΛΩΝ ΛΑΒΕ

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    I've had a policy with Collectible's Insurance Agency for a few years now (ever since I found out that my renter's, and then homeowner's, insurance agency just didn't sound like they took my hobby very seriously). They've been around for a while, but I've never made any claims with them so I don't know how great they really are. I'm not pimping for them or anything, I guess I just like the peace of mind.

    Anybody else have this kind of insurance? Who with, and if you've ever made a claim, how'd it go?
     
  2. Backscatter

    Backscatter Autobot Brainmaster TFW2005 Supporter

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    I've consdered collection insurance from time to time, but considering all the non-replaceable material of my collection I've decided against it. Rather use the money on the collection. Anyway, if my collection ever got totally destroyed, I most likely wouldn't start it again.
     
  3. ams

    ams Generation All Veteran

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    Talk to your insurance agent. Most will let you set up a rider on your homeowners by providing a list of items with values. Even though a lot of my stuff is somewhat irreplaceable, it feels good to know I wouldn't be completely shot if something happened to it.

    I did this a couple of years ago (along with putting the wifey's ring on there), and I update the list each year when I renew my policy; almost 3000 items now - whew! Runs me a few hundred dollars a year.
     
  4. megamus

    megamus Overworked and Underpaid Veteran

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    Actually you can get extra coverage on your home owners insurance that will cover your collectibles and computer. You can lump it all together but it is rather expensive. I have not done this yet but have been thinking about it.
     
  5. MegaPrime33

    MegaPrime33 Follow me @NerdActivist TFW2005 Supporter

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    Renters and homeowners insurance I've noticed really don't cover the value of the collectables. They will not give you market value for them, thats for sure. I havent used this guys yet, but I hear they're great, and specifically for collectibles.
    Site is http://www.collectinsure.com/
     
  6. Bryan

    Bryan ΜΟΛΩΝ ΛΑΒΕ

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    Yeah, that's basically the problem I had. I spoke with my agent (and I love my insurance agency--they're also my bank and my brokerage firm), but I just didn't really feel like they were on board with collectibles. I got the impression that if anything ever happened, I'd spend a considerable amount of time arguing about a fair price for a lot of my older pieces.

    The site you gave is the one I'm with now. I can't recall my exact rates offhand, but it's about $200 a year for maybe $50K in coverage. As a bonus, they've got it set up so the coverage increases by a certain percentage each month to account for new purchases, which I love. But I always wonder about warranties and insurance until I've seen them pay out.
     
  7. MrBigFeathas

    MrBigFeathas My rocket pack?!?

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    I also have a policy throught the Collectibles Insurance Agency for my comic books. For the $100 a year I think it's worth it. Since that covers up to $30,000. I talked to the owner of the "CIA" at the Comic-Con. They've been around for 40 years and they really have their stuff together.
     
  8. KidDynamite

    KidDynamite don't know nothing Veteran

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    I don't have it because my collection isn't big enough to warrant it, but I would strongly recommend buying collector's insurance from a specifically collector oriented agency. Collectibles like toys are a whole different beast from the types of things homeowner's or renter's insurance typically cover, and it's a safe bet that they will not pay out even close to what you think your stuff is worth. An agency that deals specifically with collectibles will be much more likely to understand the value and rarity of vintage items and the ever escalating size of a typical hobbyist collection.
     
  9. fschuler

    fschuler Member TFW2005 Supporter

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    My home insurance already includes coverage for up to $100,000 in lost contents, and I've provided them with that same type of property info. as ams.
     
  10. BowB4Prime

    BowB4Prime arse dimples

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    i wish i would have had something for my first collection, house burnt, and they were the only thing not covered....it got totaly destroyed, and tho it took me a few years, i have gotten back into it
     

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