I was just wondering if any of you collectors out there carry a seperate insurance "rider" on your homeowner's or renter policy? I certainly don't have the collection that some of the folks have but when I started looking at "present values" (as well as potential "future values") it certainly becomes a nice "chunk of change" that I'm sure most insurance companies wouldn't payout on if something were to happen...i.e., fire, theft, et al, unless a seperate "rider" were issued. I have my collection on video, as well as "stills" and haven't done anything with it up to this point but need to....and soon! Any "direction" in this regard would be appreciated.

This is a very good topic to bring up here from time to time as new collectors join the Forum. Yes, a rider policy is the only way to get complete protection. Regular Homeowners insurance will not cover you for any amount of sculptures, especially if you are labeling them as "collectible"

This same topic was discussed at great length last year. I remember making a long posting, after having dealt with my insurance agent. You might try using the SEARCH feature, clickable somewhere in the upper right corner of the beginning of the thread and enter words like "insurance, protection" rider policy etc." to retrieve the old post from the archives.

Some insurance agents are more knowledgeable than others about insuring collectibles. And some insurance companies seem to specialize in them where as others don't. We personally have separate riders for HL; our photography equipment, and other items, having used the Nationwide Insurance Company since 1940's which has been reliable and deals in these types of rider policies.

Good luck and don't delay buying that policy for protection.

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ladylightkeeper

I am using Collectibles Insurance Agency. I learned of this firm from other collectors on these Fora. I have fortunately never had to file a claim with them, but they seem to be quite legit. They were also very easy to work with when I signed on. Check out their site:

http://www.collectinsure.com/glass.htm

The insurance is cheap... for my collection, one year's insurance was less than the cost of a new HL.

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-Art

I also use the Collectible Insurance Agency that Art mentioned. It was much less expensive than getting a rider on my homeowners policy. It was about one third the cost and you can insure for basically any amount you need.

Joanne

I use CIA also and just renewed my policy. They've recently broadened their coverage without increasing the premium. Their policy premium is also lots less expensive than a rider on my homeowners policy.

I've not filed a claim either therefore I have no claims experience with them. However, their insurance credentials are impeccable. I checked them out thoroughly before I bought my first policy.

[This message has been edited by LamarB (edited 06-24-2000).]

I had time today to look back at older posts on the General Forum. Joanne posted a similar question on 11/7/99 titled "Insurance--how much--" I posted a lengthy reply including suggestions on how to photograph your collection for insurance purposes, on 11/9/99. I used the Search feature in the upper right of the Forum and put in the words"insurance, rider policy" and this brought up the correct thread.

I hope this helps you.


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ladylightkeeper

It is almost unthinkable that one would have a large collection and not have it insured. Even smaller collections would be expensive to replace if a tragedy were to strike.

Our collection is insured by a rider on our homeowners policy. When we bought our new house a few years ago, the insurance premium was actually less expensive with the fine arts rider. I still haven't figured that one out.

As Sean mentioned earlier, keep a list of your collection, as well as a video or photos in a safe location. My insurance company also maintains a current list of the collection.

-Todd



[This message has been edited by Todd Shorkey (edited 06-24-2000).]

Get insurance Brent. I couldn't live in earthquake country without it. It also made me feel better when I set a display up at College of the Redwoods. I checked with them ahead of time and was reassured that they were covered (without additional charge) while on display there and while I was transporting back and forth.

I'm also with CIA.

Rich

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Jackie and I have our collectibles insured through our homeowners policy. As Sean was commenting, keeping up with it can be a task. It seems that lately, I have been calling my agent and adding to the list. We also keep photos of each of our collectibles (among other things) in a safe deposit box at the bank.

Tim - Keeping the flame lit...

One more good thing about CIA:

You do not need to keep an updated list at CIA (of course, you should have one for your own records). In fact, you purchase their insurance by type of collectible and overall collection value. No need to report back to them every time you make a purchase, so long as your collection value doesn't exceed your insured amount. Also, they do not require you to substantiate ownership of every piece in your collection in the event of a claim, just a substantial representative portion thereof. Overall, this seems to be much less of a headache than a rider on a homeowner's policy.

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-Art

CIA was handing out applications at Rosemont. I picked one up. One can insure up to $3000 for $12, up to $10,000 for $32.

I've submitted my form to CIA. Thanks to all who gave me suggestions.....I really appreciate it!!!

You guys have the right idea...I used State Farm for awhile but they will only cover your pieces for what THEY think they're worth, even though you provide them w/estimated values...and even then they kept raising my premium every year.

Being single-minded,I had not even thought about insurance.Of course I never thought we would have this many.I`ve printed out the CIA material and lets get this ball rolling now.Thanks everyone!

Terry

Wow!!! I just received my quote and its unbelieveably low. Its hard to believe that they can make any money with prices like that. Thanks again...

This thread got me to doing a little research. I added a "Harbour Lights Rider" to my homeowners insurance back in 9/98. The collection was insured for $8,500 - yearly premium: $13.00.

I have added over 100 HL's since, but not updated my coverage. I sent for a quote from CIA asking for $25,000. The annual premium: $82.00 I then called my insuance agent. Their yearly premium for $25,000 coverage: $30.00.

The moral is that it pays to shop around and ask questions, especially on claims procedures and what is or is not covered.

Be informed!

-Todd

I have my insurance with the Horton Insurance Agency (1-888-707-4600). Their base policy is for $21000.00 with a premium of $51/yr. They cover accidental breakage. This weekend I was cleaning my curio cabinets when I broke the VVB on Lorain. I called Horton Monday. They called back yesterday, took the information over the phone and told me a check for $75.00 is on the way.

Just call me butterfingers.

AB in Ala-Bam

Brent,

Thanks for bringing this back up. I too, haven't done anything about getting insurance. I appreciate also everyone's input. Getting started on this asap.

Rusty

Does anyone have experience with trying to collect for a piece that has significantly appreciated on the secondary market? What do they use to evaluate it's worth?

To follow up my previous post - the check arrived today. Im quite pleased with the Horton Insurance Agency.

AB in Ala-Bam