Insurance

[Deacon]

With my collection of gloves, bats, balls etc. growing and hopefully appreciating in value...I'm just curious to know if anyone carrys insurance of their collections.

[mjkm90]

I havn't but should. I have saved a link to my favorites, so I guess I'm moving in that direction . These guys are supposed to be some of the best.

http://www.collectinsure.com/quote.htm

[mjkm90]

I havn't but should. I have saved a link to my favorites, so I guess I'm moving in that direction . These guys are supposed to be some of the best.

http://www.collectinsure.com/quote.htm

[dwknowles]

I have been preparing to get an additional policy added on to my homeowners that will cover my collection. Not sure it that would be as good as the company linked above or not, but it is certainly better than what I have now which is nothing.

[Deacon]

Just spoke with my insurance agent, he's going to look further for me, but reccommends documenting the collection with photos, receipts and additional information on the items. He offers to electronically attach any information I provide to my homeowners policy, which he would inturn keep at his office. A good idea to keep documentation somewhere besides your home. He also mentions replacement cost. As we well know, certain items appreciate in value, so our sales receipt is a start for the replacement cost, but may not represent the true market value. I guess detailed photos would be of benefit, if an appraiser could judge from those.

[stockbuddy]

Hi Deacon,

I have my gloves insured with my local homeowner insurance company. It is like a rider policy. Years ago, I remember reading an old Glove Collector Newsletter describing a glover whose home burnt down along with his baseball stuff. I decided some of my gloves are not easily replaced so I decided to insure them from theft, fire etc. My agent has pics and descriptions of all of them. The policy was not too much and it gives me peace of mind that if something happens to them they are covered. I have jewelry insured so why not my gloves.

Dave

[stockbuddy]

Hi Deacon,

I have my gloves insured with my local homeowner insurance company. It is like a rider policy. Years ago, I remember reading an old Glove Collector Newsletter describing a glover whose home burnt down along with his baseball stuff. I decided some of my gloves are not easily replaced so I decided to insure them from theft, fire etc. My agent has pics and descriptions of all of them. The policy was not too much and it gives me peace of mind that if something happens to them they are covered. I have jewelry insured so why not my gloves.

Dave

[Deacon]

Thanks for the information. I think I'm going with the homeowners rider. My agent is saying that I could put a value on the individual items for a full replacement cost and these could be updated as I see fit. Think I'll be taking a photo inventory over the weekend. thanks again

[dwknowles]

I just got some bad news. My insurance agent told me the underwriter wouldn't cover autographed items in my collection. This to me seems pretty crappy. My main piece has been autographed so not sure it would do me much good to go with them. I need to go back and talk with them again but I think it is stupid.

[Number9]

that's pretty consistent with most insurance companies. my homeowner's policy doesn't cover collectibles either. i've looked into collectinsure before, their rates are really good for the amount of coverage. one of these days i'll actually get around to doing it. the process of taking inventory and cataloging everything is rather daunting, but i need to do it.

[mjkm90]

I recommend that all of you ask your insurance carrier exactly how the claim will go in the event of fire, theft etc. From what my State Farm agent has communicated, you will have one hell of a time trying to get replacement value for a Babe Ruth store model glove that you paid $50 at a flea market and don't have a current photo appraisal for. I have hundreds of items and zero receipts. I don't want what I paid for an item, I want what it would cost for me to purchase one in the exact same condition today from a dealer.. Good luck trying to have an appraisal on every item in your collection after it's stollen. We need to go with companies that specialize in vintage memorabilia like CHUB. If I'm off on this, let me know.

[dwknowles]

I inquired about getting an additional policy through State Farm to cover my collectables, and tehy have those, and also cover jewlery, but according to my agent the underwriter will not cover any thing that is autographed due to the ballistic nature of what someone will or won't pay for an item that is autographed. i.e. an autograph on a picture is worth less than an auto on a Bat. etc. I also probably have to believe it has something to do with an authenticity fear as well.

Someone could forge an auto, insure it, then spill water on the paper and claim it, since most of those policies cover damage and breakage.


Dunno, but I already sent one collectables insurance company a note trying to get an info package so I can get some coverage.