Comics Comic book insurance?

[jedimaster]

Can someone guide me in the right direction for comic book insurance? I realized the other day that my collection is getting valuable (12-16K, depending on market fluctuation). I asked my insurance agent and it was outrageous- something like 100 dollars for every thousand insured.

My next step was the web- I found some collectible insurance companies, but I'm kind of lost as to what one to go with- what do some of you do?

 

[Donald Thomas]

Aloha,
A very good question. I looked into this myself a few years ago. You may want to contact your car or home insurance company and see about home owners or renters insurance.Include your complete collection as part of your home or rental value. Most of the time that's the cheapest and most effective way to go.
Spidey rules

 

[jedimaster]

Thanks- it was my current carrier that quoted me on the expensive side. They told me you can't include a collection without a seperate policy.

 

[WOLVERINE25TH]

I tried to go the renter's route, but I could only get insurance through some kinda harbor freight company or some ****. Woulda cost me $800 a year at my current projected values!

I'm considerin' only insurin' my older/autographed ones fer now.

 

[Donald Thomas]

I tried to go the renter's route, but I could only get insurance through some kinda harbor freight company or some ****. Woulda cost me $800 a year at my current projected values!

I'm considerin' only insurin' my older/autographed ones fer now.

Aloha,
At those prices you would do better to rent a storage space or a safe deposit box like ManofBat.
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[HR-PUFF&STUFF]

Aloha,
At those prices you would do better to rent a storage space or a safe deposit box like ManofBat.
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Spidey rules

then you have to sign in to see your comics.

 

[jedimaster]

then you have to sign in to see your comics.

Yeah, I'm not into that solution either- there has to be a source for this- classic car collectors have insurance companies that specialize in their hobby, all without ass raping their customers more than any other insurance company.

 

[HR-PUFF&STUFF]

Yeah, I'm not into that solution either- there has to be a source for this- classic car collectors have insurance companies that specialize in their hobby, all without ass raping their customers more than any other insurance company.

well if ford rapes the new line of mustangs you don't have to worry that it will make the price of our 1969 model go down.

 

[ang_hulk]

well if ford rapes the new line of mustangs you don't have to worry that it will make the price of our 1969 model go down.

you know its funny,I made a post about that tonight in the community thread.Anyhow,Its worth it,I did it with the hulk collection and it wasnt that hard,I didnt make the calls but I know it was through my home owners.The best thing to do(because they have the right to ask for it and prolly will) is get someone with some credit and get it appraised,check with your local comic shop,email mile high and other onliners and ask if they can help out.

 

[jedimaster]

I'm making some calls today- I'll let you all know what I find out.

 

[jedinite66]

I looked into this a few years ago through my homeowners insurance policy. Basically everything with homeowners is covered in the house, basically.

You can't say you have a Rembrandt without proof.

What they wanted was an estimate of total value and pictures showing ALL COMICS TO BE INSURED.

For me thats close to 5000 comics and VERY VERY time consuming.

I don't remember if it was going to cost additional but I didn't think that it was.

Hope this helps.

Thanks

 

[Donald Thomas]

I looked into this a few years ago through my homeowners insurance policy. Basically everything with homeowners is covered in the house, basically.

You can't say you have a Rembrandt without proof.

What they wanted was an estimate of total value and pictures showing ALL COMICS TO BE INSURED.

For me thats close to 5000 comics and VERY VERY time consuming.

I don't remember if it was going to cost additional but I didn't think that it was.

Hope this helps.

Thanks

Aloha,
That's what I was told as well. Now if you go to either Mile High Comics,Wizard or Overstreet, you can work on estimating the cost of your collection. Overstreet is good becasue they have values for various conditions. Most people don't have Mint copies of everything.You need to be honest. But yes, renters and home owners insurance should do. If you own a car, you may be able to go through that company for your renters or home owners insurance.Or you could store your comics in the car(who needs passengerst: )
Spidey rules

 

[jedimaster]

Anyone ever heard of these guys?

Ugly website, but I'm thinking of contacting them. so far the biggest red flag to me is that they tell you that you must PROVE loss. Hopefully that just means a police report or something similar and not a loophole they can use to deny a claim.

 

[Donald Thomas]

Anyone ever heard of these guys?

Ugly website, but I'm thinking of contacting them. so far the biggest red flag to me is that they tell you that you must PROVE loss. Hopefully that just means a police report or something similar and not a loophole they can use to deny a claim.

Aloha,
I would check them out through the Better Business Bureau.
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[jedimaster]

Good advice and thank you!

I checked them and came up with this: http://www.baltimore.bbb.org/commonreport.html?bid=11688

Not discouraging to me. Another guy I know is looking for insurance- maybe we'll each dig on this company and see what we come up with.

Again, thank you for the advice.

-Jedi

 

[jedimaster]

FYI: I wound up getting a policy through them. They have an ad in Wizard this month as well.

 

[Donald Thomas]

FYI: I wound up getting a policy through them. They have an ad in Wizard this month as well.

Aloha,
I thought of this thread when I saw their ad in Wizard as well. What are the details regarding their coverage?
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[Spidey]

Doesn't anyone ever just take really, really, really good care of their comic books anymore?

 

[TwilightPro101]

Depends on the person I would assume.

 

[Donald Thomas]

Doesn't anyone ever just take really, really, really good care of their comic books anymore?

Aloha,
I think the people who are interested in insuring their collection, DO take really great care of their comics.It's really going to be interesting to see, what, if any, impact the success of the Spider-Man movies will have on the value of Spider-Man comic books.IMO,professional grading of comics(collections)(CGC & PBX) as well as insuring comic book collections, are going to become common place in the years to come.
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[spahn]

Doesn't anyone ever just take really, really, really good care of their comic books anymore?

i'm not one that sees myself selling off my comic book collection but my comics are in pristine condition. i read it carefully and then put it away.

as far as the insurance, i think the best bet is to get a floater through your homeowners insurance specifically for your comics. yes you're going to have to come up with a value and pictures, but i think its probably your best bet as far a reliability and claim payment if and when you should have one.

 

[jedimaster]

Aloha,
I thought of this thread when I saw their ad in Wizard as well. What are the details regarding their coverage?
Spidey rules

I'm happy to answer any questions you have- as far as details, it was pretty straight forward. You give them an estimated value, they sell you a policy. Anything over 5K in value is listed seperately (as in typical insurace policies, like renters'). They don't need an itemized list, but you do have to take pix of everything and make a list to be kept somewhere safe.

Doesn't anyone ever just take really, really, really good care of their comic books anymore?

Yes, I do. Any real collector does. But things like theft, fire flood, etc. are out of someone's control.

Bottom line, I hope to not use it, as there's really no price you can put on certain books. Even if something is valuable and destroyed, then money is given to replace it, it's still not the same.

Take my Amazing Fantasy 15- it belonged to Kurt Busiek and there's quite a neat story around obtaining it. If I had to replace it, I'd never get one from him again. Does that make sense?