Talk about anything you want, so long as it's about comics!
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Casper0312 Posts: 488
4/3/2022
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Hi there... I was wondering what others are doing, if anything, to insure their comic book collection.
Most regular HomeOwners or Renter policies require you to appraise and schedule each book individually. This is fine for some high end graded books, but even then there is a deductible and typically an 80% cap on cash value vs current market value.
I've been seeing quite a marketing explosion for specialized collectible insurance companies such as Collectible Insurance Services, which claim they insure without appraisal for under $25k and seem to cover for many things excluded in my regular homeowners, including lost in mail nd offsite storage.
Being me, this seems too good to be true and there must be something I am miss9ng. Do any of you have experience with any of these companies? Any you recommend or recommend to avoid?
While I don't have the most valuable raw collection, I think it is time to start getting some good protection in place.
Thoughts?
-David
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Hammerstone73 Posts: 49
4/5/2022
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I personally recommend Collectibles Insurance. The prices seem reasonable for the coverage of their policies, the exclusions seem reasonable and they're easy to work with. A simple email with value amendments to the policy is all that's required to add items over 25k to the policy.
With that said, the real measure of any insurance company is how are they about paying a claim. Unfortunately I had a claim (different type of collectible) about 15 years ago. The loss occurred outside the home and exceeded the policy coverage. They did their due diligence to validate the claim and then promptly paid the covered amount. My fellow traveler had a significantly smaller loss, he filed his claim through his home owners policy and had a very difficult time getting paid. He went through a criminal type investigation before they would pay out. we had two very different experiences.
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+1
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