Thinking of purchasing a 5 figure book and have some questions

[Primetime]

Collect insure coverage is not as expensive as you think. Call or email them. The amount you pay for the coverage is saved in not having to insure packages. My policy covers comics, art, coins and autographs. Basically any general collectible.

agreed Ankur. Their shipping/insurance policies are really beneficial.

[buttock]

books and safety deposit boxes don't seem to get along very well unless under certain conditions.

 

http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Number=8307463

 

This isn't true. Fireproof safes intended to protect documents are not intended to store anything but documents. The fireproof material is moisture rich and creates steam in the event of a fire. This mechanism leads to rusting. However, that's not necessarily the same mechanism involved in a safety deposit box, which is typically within a bank vault and may or may not use any type of similar material (unlikely as it's only useful within small volume spaces). This material is not often used outside of small document safes, and their documentation makes note of such specifically recommending against any metal material.

[adamstrange]

Do you know if one umbrella policy would cover a collection consisting of comics, pulps and original comic art?

I use three but if it's really windy I need a fourth.

[innocuous]

Sell one of those $1000 comics and get fully covered.

[Cat-Man_America]

books and safety deposit boxes don't seem to get along very well unless under certain conditions.

 

http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Number=8307463

 

This isn't true. Fireproof safes intended to protect documents are not intended to store anything but documents.

 

Not all fireproof safes are alike. Off hand, I'd be more inclined to recommend a data grade safe (UL125) than a safety deposit box.

 

The fireproof material is moisture rich and creates steam in the event of a fire. This mechanism leads to rusting. However, that's not necessarily the same mechanism involved in a safety deposit box, which is typically within a bank vault and may or may not use any type of similar material (unlikely as it's only useful within small volume spaces). This material is not often used outside of small document safes, and their documentation makes note of such specifically recommending against any metal material.

 

Here are two examples of well regarded data grade fireproof safes:

 

http://www.keystoneoffice.com/safes/phoenix-media-safe-4623.html

 

http://www.keystoneoffice.com/safes/phoenix-media-safe-4622.html

 

A good safe isn't cheap, but if you own valuable comics and have reservations about safety deposit boxes one of these puppies should do the job without contributing unnecessary collector nervosa (stress).

 

I'm not saying that all safety deposit boxes are bad or that the conditions inside a bank vault can't be trusted to protect books, but bank vaults aren't specifically designed to protect pulp paper from excessive heat or humidity either. Just saying' it would be prudent to discuss liabilities with a knowledgable bank officer before committing one's valuable paper collectibles to Arkham.

 

Conversely, I'd think most collectors would do a better job of protecting their investment with a well designed safe and common sense humidity/temperature controls. But what do I know, ...I store all my comics in a rickety old farm shed, like Recil Macon.

[porcupine48]

A treasured friend here has a humidor in their comic safe! How...debonair and classy and cool!!

[marvelmaniac]

I looked on the Collectibles Insurance web site and not sure how the following would be handled.

 

Suppose I have 4 boxes of books worth $10,000 each (10 comics of $1000 each). Lets say they are 1) Spiderman, 2) X-Men, 3) Superman and 4) Batman.

 

I don't think I can afford $40,000 worth of insurance, so I get $20,000 in coverage. Do I have to specify which comics I am getting covered? (Doesn't sound like it on the web site.)

 

I realize that if someone stole all four boxes I would only get $20,000. But if someone stole the Spiderman and X-Men boxes and didn't take the Batman and Superman boxes, would I still get $20,000 to cover the two boxes I lost (since that was their worth)?

 

I have had collectible insurance for 7 years now and I am living in an Apt. and paying approx. $50.00 per $10,000.00 in coverage per year.

You determine the amount of coverage you need.

All they require is a list of the books being covered.

I send them an updated list(through e-mail) of books purchased that year and they store it in your file.

I have photo's of all of my books stored on my computer and 2 flashdrives so I have actual proof should something happen.

 

Right now I am in the process of re-grading/cataloging/photographing all of my books,have done about 1200 since July, again, stored on my computer and 2 flashdrives.

 

Here are examples of the lists I sent and original pics I took.

 

ORIGINAL

 

YEARLY

 

CONSOLIDATED LIST SENT IN 2013

 

SOME ORIGINAL PICS TAKEN

 

 

 

 

 

 

[SupergirlDC1959]

Same here I keep them in my safety deposit box. I would never consider leaving them at home....I have no need to look at them (I mean the more expensive books....the others like the 1$ to 25$ can just lay around the house).....I can just look at pictures on my computer or the ones I uploaded on my ipad. I will go back to my bank vault some day in the future when I am ready to sell my collection but till then I probably will never bother going back.

 

I own all the reprints I need so that keeps me more than happy for home reading!!

[Robot Man]

The first box you see in my comic closet is one marked "expensive comics" I am hoping a thief would grab it first. It's full of low grade Dells and beat up SA. The good stuff goes to the bank.

[buttock]

books and safety deposit boxes don't seem to get along very well unless under certain conditions.

 

http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Number=8307463

 

This isn't true. Fireproof safes intended to protect documents are not intended to store anything but documents.

 

Not all fireproof safes are alike. Off hand, I'd be more inclined to recommend a data grade safe (UL125) than a safety deposit box.

 

Which is why I qualified the statement and discussed it further.

 

 

The fireproof material is moisture rich and creates steam in the event of a fire. This mechanism leads to rusting. However, that's not necessarily the same mechanism involved in a safety deposit box, which is typically within a bank vault and may or may not use any type of similar material (unlikely as it's only useful within small volume spaces). This material is not often used outside of small document safes, and their documentation makes note of such specifically recommending against any metal material.

 

Here are two examples of well regarded data grade fireproof safes:

 

http://www.keystoneoffice.com/safes/phoenix-media-safe-4623.html

 

http://www.keystoneoffice.com/safes/phoenix-media-safe-4622.html

 

A good safe isn't cheap, but if you own valuable comics and have reservations about safety deposit boxes one of these puppies should do the job without contributing unnecessary collector nervosa (stress).

 

I'm not saying that all safety deposit boxes are bad or that the conditions inside a bank vault can't be trusted to protect books, but bank vaults aren't specifically designed to protect pulp paper from excessive heat or humidity either. Just saying' it would be prudent to discuss liabilities with a knowledgable bank officer before committing one's valuable paper collectibles to Arkham.

 

Conversely, I'd think most collectors would do a better job of protecting their investment with a well designed safe and common sense humidity/temperature controls. But what do I know, ...I store all my comics in a rickety old farm shed, like Recil Macon.

 

Blowing $10K on the safes you listed with the hope that you'll save your collectibles in the event of a fire is overkill. Unless you live in a furnace that is nowhere near a fire station, the likelihood that fire will get anything in your safe is minimal. The greatest danger to your expensive collectibles is theft, and most safes are woefully inadequate to protect against that (including most gun safes). The safes you listed appear to be manufactured like gun safes where the main intent is to prevent a blow-by theft and limit access. Any professional crook can crack that in a couple of minutes. A sprinkler system and standard fire response is generally more than enough to prevent your collectibles from perishing in a fire if they're in a safe. You're much better off getting a cheaper safe that is built to withstand a crowbar and sledge hammer and having appropriate insurance.

 

 

[lhcomics]

Collect insure coverage is not as expensive as you think. Call or email them. The amount you pay for the coverage is saved in not having to insure packages. My policy covers comics, art, coins and autographs. Basically any general collectible.

agreed Ankur. Their shipping/insurance policies are really beneficial.

 

This coverage on shipping doesn't include USPS priority or express mail.

 

It covers FedEx, UPS and USPS registered. For FedEx and UPS you must pay extra and get signature required.

[Dr. Love]

That's partially correct Leroy. Here's the language from the Policy:

 

Class 1 (highest coverage) - Signature Required Shipment (Registered Mail, Express Mail, FedEx and other carriers except UPS)

Class 2 - Signature Required Shipment (USPS Insured, Certified and signature Confirmation Mail and UPS)

Class 3 - No signature required Shipment (USPS First Class, Priority Mail, Air Mail, Global Priority, Parcel Post, Bound Printed Matter, Media Mail (Book Rate))

 

Not sure if their limits are tied to policy coverage amounts. My Class 3 limit is $200, Class 2 is $2500.

[Moondog]

The first box you see in my comic closet is one marked "expensive comics" I am hoping a thief would grab it first. It's full of low grade Dells and beat up SA. The good stuff goes to the bank.

 

Great idea!

[Primetime]

Collect insure coverage is not as expensive as you think. Call or email them. The amount you pay for the coverage is saved in not having to insure packages. My policy covers comics, art, coins and autographs. Basically any general collectible.

agreed Ankur. Their shipping/insurance policies are really beneficial.

 

This coverage on shipping doesn't include USPS priority or express mail.

 

It covers FedEx, UPS and USPS registered. For FedEx and UPS you must pay extra and get signature required.

dr love is correct. I can send it priority and be covered for $200. If I need $201-$2500 of insurance then I go USPS priority with a signature or certified. If it's $2501-$60k, I go USPS express or Fedex express both signatures and I'm good.

[The_SandMan]

The first box you see in my comic closet is one marked "expensive comics" I am hoping a thief would grab it first. It's full of low grade Dells and beat up SA. The good stuff goes to the bank.

 

 

I mean whats the point then? I'm sure if your like me, I love my books and other collectibles, and just storing them in a bank kinda defeats the whole purpose of collecting these 'lil beauties. Insurance is enough for me. I display 'em in my room in my bookcase in my dimly lit bedroom. Yea, I'd be wayyyy p-o'd and depressed if my stuff were stolen, but I refuse to live in fear. Just saying'

[lhcomics]

Collect insure coverage is not as expensive as you think. Call or email them. The amount you pay for the coverage is saved in not having to insure packages. My policy covers comics, art, coins and autographs. Basically any general collectible.

agreed Ankur. Their shipping/insurance policies are really beneficial.

 

This coverage on shipping doesn't include USPS priority or express mail.

 

It covers FedEx, UPS and USPS registered. For FedEx and UPS you must pay extra and get signature required.

dr love is correct. I can send it priority and be covered for $200. If I need $201-$2500 of insurance then I go USPS priority with a signature or certified. If it's $2501-$60k, I go USPS express or Fedex express both signatures and I'm good.

 

OK I'll check into it this next week. As of now I have $0 insurance if USPS is involved. I'm thinking I wanted it a few years back and the extra premium I would have to pay wouldn't make it worth it because I would most use it for low $ items under $300. I believe the deductible on the loss is $250 so really on a $300 priority shipment I would only have insurance for $50.

 

If shipping Priority mail and paying the postage through eBay then I automatically get $100 coverage which is 95% of what I ship.

 

Here is how my policy reads

 

$40,000 Class 1 (US and Canada) Signature required on FedEx and other carriers. (Except UPS & USPS)

 

$8,000 Class 2 (Worldwide) Signature required on FedEx and other carriers. (Except UPS & USPS)

 

$0 Class 3 Signature required shipment( Registered or Express mail)

 

$5,000 Class 4 Signature required (UPS)

 

$0 Class 5 Signature required ( Insured mail, Certified mail and Signature confirmation mail)

 

This stuff makes my head hurt.

 

Now to somewhat stay on the topic of the thread. A lot of his questions have been answered but for me my big books are at a bank in a safe deposit box. I recently installed a home security alarm system and that helps a lot. So much that I may look into getting a home safe and then bringing them home.

[roulette44]

Don't know what's up with your policy Leroy, maybe you got yours under an older schedule and they since changed it up.

 

There may be some differences with dealer policies versus collector policies as well. I should look at this since I have both (a core policy to cover the books not for sale in my collection) and the other policy covers the rest.

 

I've been working under these limits...similar to Ben's:

 

- ship USPS Express or FedEx sig required - $60,000

- ship USPS priority signature - $2,000

- ship with no signature confirmation - $400

 

(There's other line items too, but I don't ship those ways)

 

To the OP - this coverage is really not expensive. As a collector, I guess you can pick up $100,000 in coverage for about $50/month or so.

 

Having a safe in your house also reduces the premium further; as does having a centrally monitored alarm system (collected to the police)

 

Good luck!

[AnkurJ]

Collect insure coverage is not as expensive as you think. Call or email them. The amount you pay for the coverage is saved in not having to insure packages. My policy covers comics, art, coins and autographs. Basically any general collectible.

agreed Ankur. Their shipping/insurance policies are really beneficial.

 

This coverage on shipping doesn't include USPS priority or express mail.

 

It covers FedEx, UPS and USPS registered. For FedEx and UPS you must pay extra and get signature required.

 

I was told by them that you can send any method other the UPS but with a signature required.

[Inaflash]

I use Collectors Insurance and they only require info on books valued at over $5,000 each. Everything else is covered without having to provide a list of all books. I keep books in a safe, bolted to the floor and others in a safe deposit box. This way I need only insure half the value as it would be unlikely that my home and the bank would both get robbed at the same time.

 

Ken

[Sqeggs]

Like Bedrock, I keep mine next to the can.

 

And, no, your expensive comic collection needs an additional policy. Home owners insurance won't cover a 5 figure book.

 

Are there any horror stories out there from people who've had these policies and had their claim rejected for any reason? I've had enough problems dealing with auto insurance claims from a very reputable company so I am wondering how difficult a company specializing in collectibles can be.

 

I have their insurance, but have never filed a claim. Seems to me I've heard that with a third claim they drop you.