Insurance?

[LondonGardens]

Maybe this topic is pin-worthy??

What are best practices for insurance.  Are there specialized carriers, or do people do it through their home coverage (with or without an extra rider)?  Different practices for TI/Retail MIC or Game Worn?  Differences in the market for Canadian and American collectors?

I hope we all aren't just hoping for the best if something happens. Hopefully there are ways to protect ourselves so anyone who does suffer a loss doesn't get a nasty surprise when dealing with a claim.

Thoughts?

 

[mfitz804]

My only thought on the topic is that it depends on your collection. My assortment of retail authentic does not require insurance, no more than my regular clothes do. But, if you are spending thousands and thousands of dollars on game worn jerseys, it could be a good idea. You need to review your homeowner's policy, find out whether they are excluded/coverage is limited, and go from there. 

[furiousd]

I asked my insurance guy about special coverage for my collection (almost all authentics, nothing worth over $500) and was told it wasn't necessary.  They'd be covered if anything happened to them in the house - fire, flood, theft, blah blah.  He said if I were transporting them for display often, a rider policy might be smart.

[mfitz804]

1 hour ago, furiousd said:

I asked my insurance guy about special coverage for my collection (almost all authentics, nothing worth over $500) and was told it wasn't necessary.  They'd be covered if anything happened to them in the house - fire, flood, theft, blah blah.  He said if I were transporting them for display often, a rider policy might be smart.

Sounds about right.