Palantirion Posted December 12, 2017 Posted December 12, 2017 Hey guys. My collection has increased to the point where I believe it prudent to aquire insurance beyond my homeowner's personal property coverage (AAA). What insurance options are there for collections? My concerns revolve mostly around protecting the replacement value of the items, which means not depreciating them out of step with the market but indexing reasonable appreciation. What companies best understand this? Quote
anubis20 Posted December 12, 2017 Posted December 12, 2017 I use collectibles insurance services. https://collectinsure.com/ Quote
Palantirion Posted December 12, 2017 Author Posted December 12, 2017 1 minute ago, anubis20 said: I use collectibles insurance services. https://collectinsure.com/ -Thanks, I'll give them a call. Any tips? Things I should ask/avoid? And have you had to file any claims with them? How did they perform? Quote
spanner Posted December 12, 2017 Posted December 12, 2017 Could you possibly speak to an insurance broker to find out the best possible solution? Not sure how insurance works in the states which I assume is where you live but down here in Australia I was able to get specific contents insurance for all my stuff to an agreed value. Quote
anubis20 Posted December 12, 2017 Posted December 12, 2017 (edited) 8 minutes ago, Palantirion said: -Thanks, I'll give them a call. Any tips? Things I should ask/avoid? And have you had to file any claims with them? How did they perform? Never had to file a claim (and i hope i dont for now ) but reviews tend to be positive. just let them approximately how much you would like to cover and what you collect. Edited December 12, 2017 by anubis20 Quote
Palantirion Posted December 13, 2017 Author Posted December 13, 2017 Well, AAA is completely useless. Was bounced around to a few different departments until I got a local office that basically told me to pound sand. Every item would need to be appraised, as opposed to only higher value items. So that's a deal breaker. Was also told that my homeowners personal property coverage is not a blanket amount but subdivided into categories and each has limits - very low limits. And collectibles as a category are more covered at all, despite obivously being personal property. Americancollectors answered their phone, and was easy to deal with. Their quote seems a bit high, but I need to get others. Collectinsure didn't pick up their phone, presuably it was after hours but their message didn't say what time zone they are in or what their hours are. I'll try them tomorrow. Quote
Paco Grande Posted January 8, 2021 Posted January 8, 2021 Sorry to necro this thread! Does anyone have any experience claiming figures under their normal household contents insurance? Or do you have to get separate collection insurance? Thankfully I don't need it yet, but I was talking to my home insurance company today and discovered to my horror that they do not cover toys/figures at all. Zero. Stamps and coin collections. But if you have $1000s in toys, too bad. I've seen guys post on here saying they have over $80K in toys. Are you all using special insurance or are you just assuming that your home contents insurance will cover it? I'm in Canada so Canadian info would be best, but many U.S. companies operate in Canada as well so all info is welcome. Thank you! Quote
jvmacross Posted January 8, 2021 Posted January 8, 2021 It will all end up the same funeral pyre when it's all over.....so why worry about it... Quote
ErikElvis Posted January 9, 2021 Posted January 9, 2021 I have like 40k in coverage with a company connected to USAA. Costs me like $300 a year. Not that it would help me much as I have nothing written down or saved anywhere to tell them what I had. I should at least take a bunch of pictures. Quote
Sanity is Optional Posted January 9, 2021 Posted January 9, 2021 Well, I've been meaning to for a while, but just put in for collection coverage. I think I've got enough figures and such it's worthwhile at this point. Quote
sqidd Posted January 9, 2021 Posted January 9, 2021 On 12/12/2017 at 4:16 PM, anubis20 said: I use collectibles insurance services. https://collectinsure.com/ On 12/12/2017 at 4:18 PM, Palantirion said: -Thanks, I'll give them a call. Any tips? Things I should ask/avoid? And have you had to file any claims with them? How did they perform? I use them too. My homeowners wouldn't let me add them even as a rider. But they will insure me for court costs/damages if I shoot someone (defense shooting) to the tune of $10M for $110/yr. Goofy companies. I did a bunch of research on them before I went with them. Firstly, there aren't many choices. So they're pretty much it of homeowners won't cover you. They got great reviews online from what I could find. the only negative review I saw was from someone who doesn't understand how insurance works. They even cover your toys while being transported (this is for the show crowd). I've got $100K in coverage for just under $500/yr I think. I can't remember exactly. Quote
sqidd Posted January 9, 2021 Posted January 9, 2021 17 hours ago, jvmacross said: It will all end up the same funeral pyre when it's all over.....so why worry about it... Cus my house can burn down when I'm not home? Quote
Brodie53 Posted January 9, 2021 Posted January 9, 2021 Timely bump and thanks for the reference. Never thought about insuring all my props and collectibles, but probably worth it at this point. Quote
spacemanoeuvres Posted January 9, 2021 Posted January 9, 2021 I just renewed my home owners policy and they recommended separate insurance for collectibles. I should probably catalog my stuff and buy a policy until I can save enough to replace everything myself. Quote
ErikElvis Posted January 9, 2021 Posted January 9, 2021 I believe mine is through American collectibles insurance. Would cover my WW2 collectibles and my guns if I sent them all of the serial numbers. But not sure how I feel about that. Quote
sqidd Posted January 9, 2021 Posted January 9, 2021 3 minutes ago, ErikElvis said: I believe mine is through American collectibles insurance. Would cover my WW2 collectibles and my guns if I sent them all of the serial numbers. But not sure how I feel about that. I always thought the serial number thing for insurance was kinda weird. How would they know you gave them the right ones? Quote
ErikElvis Posted January 9, 2021 Posted January 9, 2021 4 minutes ago, sqidd said: I always thought the serial number thing for insurance was kinda weird. How would they know you gave them the right ones? You got me. Maybe they just verify with the manufacturers it was real. But that would be difficult. Maybe it has something to do with a police report for lost guns. I really dunno. Quote
Bad Larry Posted January 9, 2021 Posted January 9, 2021 19 hours ago, ErikElvis said: I have like 40k in coverage with a company connected to USAA That's good to know. My wife and I have USAA for our cars and we were looking to switch to them for our home insurance as well. If they can help with covering my collection, that would be great! Did USAA handle the transaction, or did they give you the contact info and you called the 3rd party/affiliated company? Thank you Quote
vladykins Posted January 9, 2021 Posted January 9, 2021 My stuff is covered under my regular house insurance, but part of why I take regular pictures and post them to FB is specifically to have a record of everything I have in case, gods forbid, there is a loss. It does make sense to make sure your house insurance covers it *and* is high enough to match the collection. Quote
ErikElvis Posted January 9, 2021 Posted January 9, 2021 2 hours ago, Bad Larry said: That's good to know. My wife and I have USAA for our cars and we were looking to switch to them for our home insurance as well. If they can help with covering my collection, that would be great! Did USAA handle the transaction, or did they give you the contact info and you called the 3rd party/affiliated company? Thank you I believe they connected me to them. The insurance coverage does show up on the usaa site when I sign in. Quote
Paco Grande Posted January 9, 2021 Posted January 9, 2021 On 1/8/2021 at 5:56 PM, jvmacross said: It will all end up the same funeral pyre when it's all over.....so why worry about it... I don’t care what happens to the toys when I’m dead. I’m worried about theft or damage while I’m alive. Thank you for the replies everyone! Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.