Collectors Insurance

[pokritz17]

My collection has grown to a point where I would have never expected - games, comics, books, artwork, statues, figures, etc.

What are your thoughts on Collectible Insurance or similar? I assume people usually get it mainly for theft. I'm in Canada, so any thoughts and suggestions would be appreciated.

[MrJones]

I'm in Canada as well, to the best of my knowledge we don't have a specific company per se for your collectibles. However, whoever provides your home/tenant insurance should have an option for a PAF (Personal Article Floater) in which you can insure your collectibles. That is how I have mine covered.

[pokritz17]

I'll look into that for sure, thanks MrJones.

[MrJones]

Feel free to PM if you have further questions

[NamesJay]

collectinsure.com

Check them out -- they have great rates.

[Hellboy]

Yep...

https://collectinsure.com/

[OrangeCrush]

Originally Posted by pokritz17

My collection has grown to a point where I would have never expected - games, comics, books, artwork, statues, figures, etc.

What are your thoughts on Collectible Insurance or similar? I assume people usually get it mainly for theft. I'm in Canada, so any thoughts and suggestions would be appreciated.

I had a fire and lost everything back in 2008 so while you may think theft is its main purpose, and it may very well be for many people, I assure you that there are other situations that may arise where insurance will prove just as invaluable as with theft. Of course, with things like fire's a lot of people always think it will never happen to them and I certainly hope it never does, but such things do happen to people all the time and as bad as such situations are, I guarantee thier made a million times worse if your not properly insured. Thankfully, I was properly insured so as awful as the fire was, I was at least made whole financially.

My mother has run her own insurance company for the last 35 years and I worked there on and off for many years. If there is one thing I learned while working there, its that a SHOCKING percentage of people out there do not have contents policies and many that do wind up having improper coverage as they don't realize that a basic policy will only cover X amount for things like collectibles, jewlery, etc. And many of those people wind up paying a very steep price for not being properly insured and thinking that such things will never happen to them. I saw many cases over the years I worked there where people had fires and literally lost everything because they didn't have proper insurance.

So my advice to everyone in here is to get proper insurance, and not just on your collectibles. Get a contents policy and make sure you have proper riders on your policy so that your properly covered for all of your possessions and collectibles. And lastly, keep your policy up to date by updating it every 3-6 months or so with any new purchases. And save all of your reciepts, owners manuals, boxes, etc. and store them off site somewhere. I also recommend taking pictures of everything as well. The more proof you owned something the better. Unfortunately, thats another sad thing I saw many times over while working at my mothers agency, people that had proper coverage, but ultimately didn't have proof for a lot of the items they wound up losing. Without proof of ownership, those items will get denied from your claim even if you have the best policy money can buy.

So again, I know it sucks to have to spend money on things like insurance, but it is ultimately one of the smartest things you can do. People who don't insure thier possessions are taking a very big risk. I for one sleep very well at night knowing I am fully insured and my policy is up to date!

[nbr3bagshotrow]

Originally Posted by Hellboy

Yep...

https://collectinsure.com/

I've been with them for about 10 years

[MrJones]

Originally Posted by Hellboy

Yep...

https://collectinsure.com/

OP said he was in Canada, collectinsure is a US company that insures "country wide".

Gotta be careful when shopping around.

[Webb]

Collect Insure isn't bad I got a quote for $190.00 a year.