EB Forum

I'm curious to know which insurance companies are being used by people around here for their collections.

I saw a little bit of talk about this one.

soam24 wrote:So after vigorous hours of searching

Going with https://www.minicocollectiblesdirect.com

I asked a bunch of questions, but the most important reply back from them was this.

"The claim would be paid out at current market value as long as you are able to provide documentation of current market value and you were insured for the market value amount."

I've looked into this one. Is anyone using them? Any experiences to share?
https://collectinsure.com/?gclid=EAIaIQ ... gKi1_D_BwE

Any others out there that people could comment on? Has anyone had to file a claim with an insurance company? How did it go?

Thanks

I use collectinsure, sign up was easy, premium was reasonable from others I looked at it. Luckily I guess I have not had to file a claim so can't speak as to how that would go. But as with any other kind of insurance I would expect that they will try to drymount you any chance they get.

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xangelx wrote:I use collectinsure, sign up was easy, premium was reasonable from others I looked at it. Luckily I guess I have not had to file a claim so can't speak as to how that would go. But as with any other kind of insurance I would expect that they will try to drymount you any chance they get.

Thanks, I like what I've read about them so far and the quotes are really reasonable.

fwiw my collection is insured as part of my homeowners insurance through Allstate.

theperfecttree wrote:fwiw my collection is insured as part of my homeowners insurance through Allstate.

Interesting, I have Allstate for homeowners as well and I inquired about whether my collection would be covered and they said no unless I jumped through a bunch of hoops. List of each item, appraisals etc added as a rider to the policy.

That's pretty much the same with all of em. And those who don't want all that stuff, good luck actually getting a payout. I would be very surprised to hear that anyone here actually got a payout at anywhere near market value for their hundreds (or thousands) of prints.

Codeblue wrote:That's pretty much the same with all of em. And those who don't want all that stuff, good luck actually getting a payout. I would be very surprised to hear that anyone here actually got a payout at anywhere near market value for their hundreds (or thousands) of prints.

Yeah, I wonder about not giving any detailed info on the items you're insuring. Supposedly it goes by you paying a premium to cover "X" amount of value, say $10,000...if something happens and you file a claim you show pics and details that you did actually own it along with the value, pay the deductible and that's it.

Seems odd, but they've been in business since the 60's.
https://collectinsure.com/why-insure/about-us
Could they not be paying claims and stay in business that long? I'm not sure..

xangelx wrote:

theperfecttree wrote:fwiw my collection is insured as part of my homeowners insurance through Allstate.

Interesting, I have Allstate for homeowners as well and I inquired about whether my collection would be covered and they said no unless I jumped through a bunch of hoops. List of each item, appraisals etc added as a rider to the policy.

I checked my emails and looks like I ran into similar issues. I provided a list of everything owned an an estimated market value, which didn't cut it for them.

After some back and forth the simplest solution was to raise our dwelling coverage to an amount that included the value of the collection. Total was a $9 increase to my annual premium.

interesting

Travelers just told me that my dwelling insurance covers limited edition prints under my normal policy. I don't have to show them proof of any individual items owned now, but they recommend having pics/receipts and a spreadsheet of everything in case I need to file a claim in the future.

The deductible is a lot higher with dwelling insurance (minimum is $500 in NYS) than collectinsure.com or minicocollectiblesdirect.com, but I guess maybe I'll use what I already have with my existing policy...I don't know. Anyone have experience with this type of stuff through Travelers?

do you really have receipts? do they really expect receipts?

I am covered to $10k under my dwelling insurance with Progressive. They have a spreadsheet of all my prints (with current market value) that I owned at that time (2 years ago) Anything higher requires appraisal, etc. I should probably look toward something else at this point, but for that value, seems to be a good way to go.

I do have receipts for a lot of the stuff I got on a drop, but pics and a spreadsheet is probably the best way to go.

not sure i would want to hold on to all my drop receipts or paypal receipts. might be slightly depressing