Advice regarding insurance for collection

Fayeilding

What do you guys do to insure your collections?

Just a rider on your homeowners, or do you buy specialty policies? I know a couple of companies specialize in insuring sports collections.

Would be interested to hear any experiences and advice.

MrHockey

Collect Insure is widely preferred.

PatsGuy5000

Looked into it, far cheaper to rent a safety deposit box.

LOTSOS

@PatsGuy5000 said:
Looked into it, far cheaper to rent a safety deposit box.

Harder to enjoy your collection that way.

Kevin

brad31

Have Collect Insure. They have been great to use each year on renewalbut I have never had a claim so cannot speak to that aspect.

Cakes

@Fayeilding said:
What do you guys do to insure your collections?

Just a rider on your homeowners, or do you buy specialty policies? I know a couple of companies specialize in insuring sports collections.

Would be interested to hear any experiences and advice.

Great question. I had always used a SDB but like LOTS mentioned it wasn't very enjoyable. I have since invested in security measures at my home and enjoy my collection much more.

secretstash

Anyone ever had a claim from collect insure? How did it go and how did you prove value of cards, VCP was accepted?

brad31

@secretstash said:
Anyone ever had a claim from collect insure? How did it go and how did you prove value of cards, VCP was accepted?

Interested in hearing answers as well. Hoping to never have a claim but would be reassured if there are stories from folks that have.

Huskies11

@brad31 said:

@secretstash said:
Anyone ever had a claim from collect insure? How did it go and how did you prove value of cards, VCP was accepted?

Interested in hearing answers as well. Hoping to never have a claim but would be reassured if there are stories from folks that have.

I'm in the same boat, I'm ready to pull the trigger on it but unfortunately have never heard of anyone having a claim

bishop

There was a recent thread about SDBs on 54

net54baseball.com/showthread.php?t=261047

bishop

Here is a thread from 54 on safes

net54baseball.com/showthread.php?t=249519&highlight=Insurance

Threads on insurance

net54baseball.com/showthread.php?t=233027&highlight=Insurance

net54baseball.com/showthread.php?t=196431&highlight=Insurance

countdouglas

The odds of you incurring an event where you will need to make a claim is likely much, much closer to zero than even 1 percent.

Knowing how much insurance companies love to take premiums, but hate to pay claims, the odds that your claim will have you made whole and to your satisfaction is much, much, much, much closer to zero than even 1 percent.

My advice is whether your are an adept player yourself, or you decide to stake someone who is, is to take your amount set aside for premiums to your nearest casino and sit in on a poker game or blackjack table, as the chances of seeing a return on that money is much better that way than to ever expect a payment from an insurance policy on collectibles.

If you aren't an adept gambler, and don't know anyone else that would qualify, simply take your premiums to your local sports book every August and bet the Browns to win the Super Bowl. Again, much more likely that would occur than you ever getting one dollar from a payout on a collectibles policy.

Panama Mutiny (Formerly lawyer05)

@countdouglas said:
The odds of you incurring an event where you will need to make a claim is likely much, much closer to zero than even 1 percent.

Knowing how much insurance companies love to take premiums, but hate to pay claims, the odds that your claim will have you made whole and to your satisfaction is much, much, much, much closer to zero than even 1 percent.

My advice is whether your are an adept player yourself, or you decide to stake someone who is, is to take your amount set aside for premiums to your nearest casino and sit in on a poker game or blackjack table, as the chances of seeing a return on that money is much better that way than to ever expect a payment from an insurance policy on collectibles.

If you aren't an adept gambler, and don't know anyone else that would qualify, simply take your premiums to your local sports book every August and bet the Browns to win the Super Bowl. Again, much more likely that would occur than you ever getting one dollar from a payout on a collectibles policy.

what he said