The discussion of insurance recently came up in another thread and I thought that such information could be very useful to us collectors.
I tried to have my comics insured before and the insurance agent wanted me to keep them in a safe. Clearly she didn't understand because only a very large bank vault could hold all of my comics. Another one wanted a scan of all of them. Are they kidding?
Now that the Bowen collection is growing at an accelerated rate, this too should be insured; especially when very valuable pieces are obtained.;
Does anyone know of a good insurance provider that knows how to deal with collectibles? My experience is a general insurance provider doesn't really know how to handle them.
The other issue that will likely arise is an appraiser and the costs associated with that. Again, any information would be helpful.
I live in South East Florida, but have no issues with going with a national provider.
There are plenty of comic inventory programs that will suffice for insurance purposes.
The program should have the follwing features:
1. Allows you to enter comic's grade (allowing for CGC grades also)
2. Program can automatically update you collection's value via the web
3. Has the option to download comic covers. I have State Farm's Personal Articles Policy for my comics and the downloaded covers suffices for them in place of scans. I would still scan exceptionably valuable or key comics as well as photograph/scan and professionally grades/slabbed/signed comics
4. Can sort comics by company, title etc. It's easier to find partiular issues this way.
Make sure your insurance agent has an updated printed or pdf copy of your inventory with individual prices and total prices. The software should be able to easily produce this report for you. I usually give my insurance agent an updated inventory once annually.
The hardest part is just getting everything inventoried the first time. If you have a really huge collection, some comic collecting software actually have barcode scanners to make it a snap. Here is one example. It is the one I use. Comic Inventory Software I highly recommend it.
First thing to do is check with your insurance agent about a Personal Articles Policy or check out one of the collector specific insurance providers Kilowog linked. Personally, I'd rather deal with my regular insurance provider as we have history and all that jazz.
I have to check out your collection to compare. I estimated mine at $80K, it was about $450 +.
The statues you can see in my thread, but the comics are also a factor. PM me for my email address and I can help you in comparing collections if you want. Who knows, I could be low or high with my estimate.
You estimate the value of your collection and determine the amount of insurance. Although an inventory is not always required at the time of application to purchase insurance, we strongly recommend maintaining an inventory to provide proof and expedite claims in the event of a loss.
Get a quote online or by calling 888-837-9537 (Monday - Friday 8:30 - 5:00 ET).
To purchase insurance, you can download an application online and mail, fax or email the completed/signed application to Collectibles Insurance Services.
How to Insure Your Collectibles
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