[katieneack]

I had an insurance review yesterday and found out from my insurance agent that my collection is not actually covered by my homeowners insurance. He said it is only covered up to $1,500 for this specific item, and with the deductible I would actually only get $500. He said I would need to get my collection appraised and take out an additional policy to have it covered. Acording to him, all homeowners policies work this way.

Just wondering in anyone here was aware of this. If so, do you have insurance policies on your collections - and did you use your homeowners insurer or an insurer who specializes in colelctibles?

Any input would be appreciated.

Thanks,
Kyle

[waynetalger]

On the old Beckett site they had a link to a collection agency that would insure your cards I was meaning to look them up but then the site change I havent seen that add. But on another note I have home owners insurance plus another 200,000 for personal replacement items. I know it wont cover all my property but it would be a start. I cant tell you what it costs because it is added to my escrow account.

[katieneack]

On the old Beckett site they had a link to a collection agency that would insure your cards I was meaning to look them up but then the site change I havent seen that add. But on another note I have home owners insurance plus another 200,000 for personal replacement items. I know it wont cover all my property but it would be a start. I cant tell you what it costs because it is added to my escrow account.

Thanks for sharing. I would probably only need about $20-$30K insurance for my collection, so hopefully it wouldn't be too much. It is definitely something I am going to look into. I would just assume go through my current insurance to make it easier. Just glad I found this out now before something happened and I found out after the fact. That would really be awful!!

Kyle

[bonds20001]

I have looked at different sites like this one for collection insurance
This is the one with teh ad on Beckett I think..

http://www.collectinsure.com/covered.htm...5godChwKIw

[katieneack]

Thanks for the link. I'll compare that to the quote I get from my insurance agent and go from there.

Appreciate the input :p

[motu79]

You'd have to check with other companies around your state to actually find out. One of the companies I write for (Safeco Ins.) will cover your collection if you Schedule it separately from your Personal Belongings (i.e. a ring, or guns). You pay an extra premium for it, but it's worth it.

[muz0]

I work at an insurance company and you need to "Schedule" your collectables on your policy if you want it covered. You would need them appraised and you need the receipt or proof they are worth $X money. Its fairly inexpensive to do this, kinda like an umbrella policy.

[katieneack]

Yeah, my agent told me that they would need to be appraised. I do have them all listed in my organize as well as in Excel. However, it is hard to get a real value, because I only collect 1 player and about I probably have 200-300 cards that aren't listed because of print runs.

Thanks for all of the information - I don't know much about insurance so it's all new info to me

[sonnyday]

I have a rider to my homeowners policy for my collection. I set it up a couple years ago. I submitted a list of my collection with Becketts printout of value and that was acceptable to the insurance company.