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 Post subject: Important Piece of Collection Advice (hope it can stay)
PostPosted: Fri Jan 24, 2014 6:13 am 
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I'm not sure many of you know this, but I'm an insurance agent for a living. So daily I'm working with people on anything from auto insurance to life insurance all the way to working with farmers and estate planning. One of the biggest gaps I see in people's insurance policies are scheduling items that increase in value/become rare very quickly. The two biggest things people don't specifically itemize/schedule would be jewelry and firearms.

What a lot of people don't realize is that you can also schedule collectibles (stamps, comic books...ACTION FIGURES). Every insurance company is a bit different, but I see a lot of you with substantial collections and many of those would take significantly more to replace then the money you have in them. So fire, tornado, theft, etc...if you don't have these items on a personal articles policy/floater, you may run into trouble in the event that something bad happens.

I highly encourage you guys (if you haven't already) to sit down with your insurance agent and discuss taking proper care of your figures. I've seen this a few times in the past with total loss claims and people having collectible items that have a dollar amount limit on them.

I'll now hop off my soapbox...I just want to make sure everyone can be properly covered.

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 Post subject: Re: Important Piece of Collection Advice (hope it can stay)
PostPosted: Mon Feb 03, 2014 5:25 pm 
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My insurance company covered this stuff as part of my renters insurance when I was living in an apartment.

Not sure what your policy is regarding this sort of thing but they basically told me to make a comprehensive list of all items then video tape them and show something current like a newspaper to verify the date. I had to go through and video tape my entire collection or takes pics so that the item was easily identifiable and showed the condition so it could be verified. It was a pretty simple procedure and while it took a while it was worth it cuz at the time I lived in a sketchy neighborhood and had in pretty big inventory of high dollar items in my collection that in total went over $10000 so if anything had happened it would have been disastrous.

It really is a great idea to do this if you are a collector, well worth the few extra dollars on your policy.

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 Post subject: Re: Important Piece of Collection Advice (hope it can stay)
PostPosted: Tue Feb 04, 2014 9:26 am 
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Good grief. I never even thought of this. Even my JLU collection at today's prices would be hundreds over what I paid for it. I need to check with my policy holder immediately. Thanks for the advice Bunger.

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 Post subject: Re: Important Piece of Collection Advice (hope it can stay)
PostPosted: Tue Feb 04, 2014 3:12 pm 
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I think the Collectibles Insurance agency-- lets you estimate the value of your collection-- however I think you have to specifically list anything individually over 500.00

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