Insuring your finds?

[skeeterd]

I posted this in the collections forum, but not a lot of traffic there, so tying it here. Does anyone here have collectible insurance? My renters insurance doesn't cover everything I need it to (my treasures). Before I call a collectible specific insurance company, I'd like to know what others think of it. Does it cover damage, theft etc.? As I add to and sell off stuff, how up-to-date do I need to keep my inventory list? Are there any questions I should be asking the ins. company? Recommendations for companies would be great also. Thanks in advance.

 

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[ChampFerguson/TN]

First off, I wish I had that problem. Insuring my detecting gear makes more sense for me.

Usually the best place to start is asking your current insurer about a rider policy. Have a very specific list of what you want to insure, its value and what you want to insure it against (theft, fire, etc). I'd be surprised if they didn't offer you a quote. You might even want to start the conversation with "here's a list of items I want to be sure are currently covered under my present policy" and then go from there. I bet you find that your collection is already insured up to some cutoff value and doing a rider would be a simple matter for them. But still shop around, of course.

 

[Terry Soloman]

Talk to your home insurance company. Tell them what you want, and ask them how to put the rider on your existing coverage. OR, get a safe, which in the long run is a lot cheaper.

 

[skeeterd]

Thanks, Champ. I've already discussed this with my agent, and found just what is covered and what they can't cover. Collectible insurance does seem to be reasonable. About $55 a year for $10,000 in coverage.

 

[ChampFerguson/TN]

Kinda curious and just tell me if I am being too nosey, but what do you have to insure that an insurance company doesn't typically cover?

 

[skeeterd]

Kinda curious and just tell me if I am being too nosey, but what do you have to insure that an insurance company doesn't typically cover?

Cowboy stuff. Tack and western Americana. Some of it I use and that is covered by my renters. I have a rider that covers my firearms and a certain limit on collectables. I'm looking into something that covers ALL of the more valuable and collectible stuff without a huge deductible.

 

[ChampFerguson/TN]

Gotcha. You should be able to get that covered with a bit of shopping. Sorry I cant advise further tho. Good Luck!

 

[Peyton Manning]

if you have any gold I will be happy to take care of it for you