Where to get the Best Comic Insurance? 1 1

[Xenosmilus]

My collection isn't nearly the most valuable but I am starting to think of some sort of insurance for them.  I looked in my renters insurance plan (Liberty Mutual through Geico) but they won't insure them.  Anyone know a reputable insurance company or plan for their books?

 

 

[MR SigS]

I use

 

I hope I never have to find out how good they are.

[Tony S]

Just now, MR SigS said:

I use

 

I hope I never have to find out how good they are.

This times 100. Most everyone that has insurance for their comic books - including myself -  is using this service.Their prices are reasonable and they don't require a lot of information upfront.   But I have never read or heard of anyone's experience with a claim.  

[RockMyAmadeus]

I actually got a quote from CIS, and they didn't meet my needs. They're mostly good for dealers who transport their inventory from show to show. I just needed coverage for shipping, but with their $200 deductible, and the fact that the vast, vast majority of items I sell are between $100-$500, it just didn't make any sense. I'm still paying a fortune to USPS to insure each individual package, but even then, it doesn't make sense because of that $200 deductible. I've spent $600 in the last three months just on USPS insurance coverage, but they cover every dollar.

 

[marvelmaniac]

10 hours ago, Tony S said:

This times 100. Most everyone that has insurance for their comic books - including myself -  is using this service.Their prices are reasonable and they don't require a lot of information upfront.   But I have never read or heard of anyone's experience with a claim.  

I have been using CIS for 10 years and they are very easy to work with.(I have never had to file a claim)

You tell them what you are looking to insure and for how much and they ask a few questions such as where and how the books are being stored, type/age of building, etc. and they give you a quote.

You can change your coverage amount anytime with just an e-mail or phone call.

It is recommended you send them a list of what is being insured and update the list monthly/annually depending on how much and how often you add to the collection.

I have detailed lists of all of my books with grades and pictures of all 1800 books.

The lists and pics are also stored on my computer and two separate flashdrives so should something happen there is some proof of ownership.

You do not have to be as OCD as I am, but you get the idea.

[Krismusic]

is there a collectable insurance for Canada?

[Xenosmilus]

9 minutes ago, marvelmaniac said:

I have been using CIS for 10 years and they are very easy to work with.(I have never had to file a claim)

You tell them what you are looking to insure and for how much and they ask a few questions such as where and how the books are being stored, type/age of building, etc. and they give you a quote.

You can change your coverage amount anytime with just an e-mail or phone call.

It is recommended you send them a list of what is being insured and update the list monthly/annually depending on how much and how often you add to the collection.

I have detailed lists of all of my books with grades and pictures of all 1800 books.

The lists and pics are also stored on my computer and two separate flashdrives so should something happen there is some proof of ownership.

You do not have to be as OCD as I am, but you get the idea.

The thing I’m most worried about is theft. Everything is boxed up and easy to take lol. That being said I do live in a very safe neighborhood. Do they cover theft or just the basics like fire, flooding, dog eating one etc. ?

[NoMan]

Wouldn't you want to talk to people that have filed a claim?

I'm sure all insurance companies are great at taking premiums. All smiles. File a claim and than see what happens.

[Xenosmilus]

Just now, NoMan said:

Wouldn't you want to talk to people that have filed a claim?

I'm sure all insurance companies are great at taking premiums. All smiles. File a claim and than see what happens.

That would be the best case but until someone speaks up if that happened the responses so far seem good.

[ADAMANTIUM]

9 minutes ago, Xenosmilus said:

That would be the best case but until someone speaks up if that happened the responses so far seem good.

there have been threads that filed a claim through them, I'll see if I can find a thread  

[NoMan]

1 hour ago, Xenosmilus said:

That would be the best case but until someone speaks up if that happened the responses so far seem good.

??

How good and convenient they are at taking your money? I know a great restaurant. You pre pay, everyone's friendly, it's clean, smiles all around. Haven't actually tasted their food but I highly recommend it. Insurance, for anything, pay what they want to pay, if they're even motivated enough to do so.

[ADAMANTIUM]

1 minute ago, ADAMANTIUM said:

10 minutes ago, Xenosmilus said:

That would be the best case but until someone speaks up if that happened the responses so far seem good.

there have been threads that filed a claim through them, I'll see if I can find a thread  

Read this thread, hopefully it helps  

 

[NoMan]

1 hour ago, ADAMANTIUM said:

Read this thread, hopefully it helps  

 

Yes, thank you. Re. Collectable insurance, these kinda threads are the only ones worth reading

[MR SigS]

Sounds like CIS is better suited for books that stay in the home where they're theoretically safer than anywhere else rather than being shipped or handed off somewhere.

Still hope I never find out.

[Tony S]

1 hour ago, MR SigS said:

Sounds like CIS is better suited for books that stay in the home where they're theoretically safer than anywhere else rather than being shipped or handed off somewhere.

Still hope I never find out.

CIS includes private shipping insurance. Books shipped to you - books you ship somewhere else - are supposed to be covered up to limits listed. Which vary based on carrier and service. And have requirements, like a deductible and require a signature. 

I read the above thread when it came out. It doesn't apply to what most of us have CIS for. I would expect the frame shop to have insurance that covers any damage they inflict on art that they are framing. If they don't have such insurance, I would still expect them to be responsible.  In the example linked to, it would be similar to my expecting CIS to cover any damage CGC did to comics I sent them for grading and encapsulation. That's not reasonable. CIS covers my comics while I have them. They cover my comics while being shipped to CGC (up to the terms of the coverage, if I follow the rules) And CIS will cover the comics when being shipped back to me. Once in CGC's hands, that's CGC's responsibility. Not CIS. 

I carry CIS coverage (I have a dealer policy, which is more expensive) to cover theft and natural perils (roof leaks and ruins the comics). And for the private shipping insurance.  Since I ship a lot of packages, the savings on insurance pays for much of the policy itself. 

Just for clarity, I never intended to suggest Collectibles Insurance Services might not be as good as they appear to be. I meant to say only that no one seems to know of anyone that has filed a (reasonable) claim and how it went. It is a  good thing that I have never had anything stolen or packages lost or destroyed by USPS or UPS. That I have never had to file a claim.   But I could tell you of my experience of filing claims with State Farm under home and auto (they ranged from good to outstanding) But I've never encountered anyone that filed a claim with CIS for stolen books, books destroyed by fire or storm damage or even a claim on a lost package. 

So I assume that CIS will be fair with any claim. 

[Dr. Love]

Tony, I have heard of claims being paid without question, though I can't provide details.  I also distinctly remember that you get one claim, maybe two, and then you'll be dropped.

So though I have them primarily to cover in-home theft and other risks, if it came to a small claim because of mailing damage, I would choose to eat it rather than utilize the policy.  I've started taking out USPS insurance in some instances.

[BlowUpTheMoon]

56 minutes ago, Dr. Love said:

Tony, I have heard of claims being paid without question, though I can't provide details.  I also distinctly remember that you get one claim, maybe two, and then you'll be dropped.

I remember reading that someone was dropped right after their first claim was paid. 

[silverweb]

So wonderful to have such an insurance that takes care of you! LOL

[littledoom]

On 6/11/2019 at 9:20 AM, Xenosmilus said:

The thing I’m most worried about is theft. Everything is boxed up and easy to take lol. That being said I do live in a very safe neighborhood. Do they cover theft or just the basics like fire, flooding, dog eating one etc. ?

I wouldn't put all your collectibles in one location or at least spread them out.. I also wouldn't write "valuable comics" on the boxes.. It's good to have neighbors who sit on their porch or in front of an open garage 24/7 watching over your house.. like I do.... I hate that I have no privacy when I leave my home but they have prevented some thefts

[Hollywood1892]

What should a persons collection be valued at before getting insurance?