Is Collectible Insurance Service a viable option for you? 1 1

[Chicago Boy]

I’ve looked into it as a collector and it sure seems pricey to me.....curious as to others thoughts and what they do regarding insurance of some sort .....

[Wipple]

I pay roughly a $1,000 a year premium on $250,000 policy. It helps my wife sleep at night. I use CIS and have not had any claims.

[GreatCaesarsGhost]

Coincidence.  I hold in my hand a premium estimate from Collectible Insurance that I just got finished with.  I guess I wasn't the only one who got an email from them today.  Anyway, they estimate my premiums to be $1144 per year.  This estimate took all of 5 minutes to work up.  About 30 minutes later, the insurance co called me up  to see if I had any questions.

So, I guess I now know if I bring my 7 books home from the bank deposit box, the pleasure of having them nearby will be about $100/mo.  

I gotta decide if its worth it.

There have been other threads where people have praised this company.  They will pay in case of a claim.  But then they will always cancel you afterward.  If this is true, that's ok by me.

[Ltpink2002]

I believe Bob Storm recently had an issue with CIS not covering a Hulk 181 shipped to Canada purchased with a stolen CC.

[entalmighty1]

I know Leroy Harper had them when he had a copy of AF15 stolen.  I believe he told me CIS paid the claim and retained his policy, which is a pretty solid endorsement.

I use them as well, but have never submitted a claim.

@lhcomics can confirm.  

Edited June 18, 2019 by entalmighty1

[lhcomics]

2 hours ago, entalmighty1 said:

I know Leroy Harper had them when he had a copy of AF15 stolen.  I believe he told me CIS paid the claim and retained his policy, which is a pretty solid endorsement.

I use them as well, but have never submitted a claim.

@lhcomics can confirm.  

This is true and they paid.. I've been with them 10 years and never filed a claim until the stolen AF 15. They paid very close to my asking price and didn't jack up my premium. I believe my time with them without a claim played a part in not cancelling me.

Here is a something to consider if you have collectibles besides comics. I believe coverage for comics covers comics and comic art. If you have Toys, ball cards, video games, stamps etc. anything of value it's not covered unless you email them and say I have toys, ball cards, video games. Make sure you let them know what you have of value. It will not raise your premium unless you up the coverage for these items.

 

 

 

[ender]

I have insurance  and one of the appealing things to me is they will cover things in the mail if they were to be lost so I don’t feel I have to pay extra for insurance through the post office. Granted I have never had a claim and was told they (CIS) would cover it by the person who was selling the policy. I also think if you have a safe you keep them in and a security system on your home you get a discount.

Edited June 19, 2019 by ender
Misspelled word

[mlansdown]

Does anyone have experience with other collectible insurance providers?  Just curious if CIS is the main player or if there are competing insurance companies to consider...

[circumstances]

Spoke to CIS recently. Quoted about $3300/yr for a million dollar policy.

Any individual books over $25,000 need to be identified, under that you're good to go.

[Silver]

I just started a policy with them. It was just getting to the point we’re it seemed foolish not to have one.

[Primetime]

I have had CIS for about 15 years +. I pay a little over $4/day to insure my stuff. I have had one claim in that time for $1000. They paid it in full in six weeks. Their coverage on books being shipped to and from you is excellent piece of mind. I also have coverage when traveling to and from shows. 

Edited June 19, 2019 by Primetime

[entalmighty1]

10 hours ago, circumstances said:

Spoke to CIS recently. Quoted about $3300/yr for a million dollar policy.

Any individual books over $25,000 need to be identified, under that you're good to go.

I was told I needed to identify any books over $5,000, but I only have a 200k policy, so that may have something to do with it.  I have no idea.   

[circumstances]

24 minutes ago, entalmighty1 said:

I was told I needed to identify any books over $5,000, but I only have a 200k policy, so that may have something to do with it.  I have no idea.   

Yeah, dunno.

[TheWatcher]

59 minutes ago, entalmighty1 said:

I was told I needed to identify any books over $5,000, but I only have a 200k policy, so that may have something to do with it.  I have no idea.   

That was their old policy. They changed it to 25K some months ago

[Knightsofold]

16 hours ago, ender said:

I have insurance  and one of the appealing things to me is they will cover things in the mail if they were to be lost so I don’t feel I have to pay extra for insurance through the post office. Granted I have never had a claim and was told they (CIS) would cover it by the person who was selling the policy. I also think if you have a safe you keep them in and a security system on your home you get a discount.

Claims from mail issues if you’re selling or trading can get your policy cancelled unless you have a dealer policy.

[nearmint]

20 hours ago, ender said:

I also think if you have a safe you keep them in and a security system on your home you get a discount.

Read the fine print concerning this.  At one time, I had a 200K policy with them, and when it came up for renewal I realized that the policy only covered 60K if the books were not kept in a locked safe.  I had described how the books were stored when I purchased the policy, and found it very frustrating that they took my money for a 200K policy when they were only covering 60K. 

It's no longer an issue, as I no longer keep high value books at my home, but it was annoying at the time.   Read the fine print, folks.

Edited June 19, 2019 by nearmint

[HouseofComics.Com]

16 hours ago, Primetime said:

I have had CIS for about 15 years +. I pay a little over $4/day to insure my stuff. I have had one claim in that time for $1000. They paid it in full in six weeks. Their coverage on books being shipped to and from you is excellent piece of mind. I also have coverage when traveling to and from shows. 

It's great to know that you filed a $1000 claim without having them cancel or raise your rates. Which is as it should be.

[Primetime]

1 hour ago, HouseofComics.Com said:

It's great to know that you filed a $1000 claim without having them cancel or raise your rates. Which is as it should be.

for sure. 

[rucnok]

i use them too but never put through a claim thankfully

[thewritestuff]

Does anyone use American Collectors Insurance (through USAA)?

i have a relative who is a veteran and uses USAA. They offer an add-on policy through ACI.

just curious if anyone has had an experience with them...