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(10-05-2011, 07:52 PM)eazy e Wrote: LMAO ! Mee too!....No the ins policy is going to be based on declared value. So say your collection is worth 20k you tell them that and then they charge you accordingly. So yea you could probably switch your scrubs for good cards ,but it wont matter cause at the end of the day your gonna get a check based upon how much your policy was. the more your policy is worth the more its gonna cost you per year,Exactly! so it works just like any other extra insurance. so there is no need for a list or proof or whatever. (10-06-2011, 12:16 AM)nthnoak Wrote: Exactly! so it works just like any other extra insurance. so there is no need for a list or proof or whatever.I would think it a very good idea to still keep proof though. I think they would probably investigate a little, do a little digging just to see if its legit. But if they cant prove your trying to run a scam you would get paid out. If you get caught trying to scam or lie you probably get arrested for ins fraud. Something like that. Collecting ALL 2005 Frank Gore -148/406=36% Collecting ALL 2006 Vernon davis -129/829=15% Collecting ALL 2007 Patrick Willis -79/818=9% Collecting ALL 2005-06 Monta Ellis -86/163=53%
Collectibles Insurance Checklist
1) Determine if you are a collector, dealer or both. Inquire about your specific policy needs. 2) Compare policies for: Types of loss Exclusions Price per thousand of estimated collection value Deductible Inventory Requirements Policy Fees Terms of Payment 3) Be realistic when valuing your collection. The higher the value, the higher the coverage that’s needed. More coverage means a bigger premium. 4) Valuate your collection in terms of fair market or current replacement value. Valuating it higher than that is considered insurance fraud. 5) Keep a copy of your inventory and certificates of authenticity in a secure secondary site, away from where your collection is kept. Examples include a safety deposit box or even an email sent to yourself. 6) When taking photos or video of your collection, be sure to capture any and all markings that will help authenticate the piece. Keep digital copies backed up on multiple sources away from your collection. A cloud program such as Dropbox is ideal for storing such digital files. 7) If loss occurs due to burglary or theft, file a police report immediately. 8) When loss occurs, gather your records and contact your insurance company immediately with the following information: Contact information Policy number Type and location of loss Date of loss Claim amount Records— inventory sheets, pictures and videos, police reports, receipts, certificates of authenticity, etc. |
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