Author Topic: Purchasing Insurance  (Read 2812 times)

Offline sederic68

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Purchasing Insurance
« on: March 05, 2018, 09:42:48 PM »
What are the thoughts on purchasing insurance on your valuable movie posters?
What insurance company would one use? 
Anyone have any experience or heard of collectibles Insurance Services?
Thanks!
Eric


Offline sederic68

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Re: Purchasing Insurance
« Reply #2 on: March 05, 2018, 09:56:56 PM »
Thanks Jeff.  I did a search, but didn't find anything.  Eric
Eric

Online eatbrie

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Re: Purchasing Insurance
« Reply #3 on: March 08, 2018, 04:33:40 PM »
I think it really depends on where you live.  If you live somewhere where floods and fire happen, then you probably need insurance.  If you own pieces worth more than $50k, you probably need some kind of insurance.  Otherwise, I think it's a waste of money.  I thought about it long and hard and decided against it.  It's too costly, too complicated, not worth it.  Personal opinion of course.  Keep your posters in a cool, low humidity environment and you're good to go.

T
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Offline okiehawker

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Re: Purchasing Insurance
« Reply #4 on: March 08, 2018, 07:22:22 PM »
Thanks Jeff.  I did a search, but didn't find anything.  Eric

Eric,  It is, of course, a personal choice to have insurance, and collect. I choose to do both. Houses can catch fire from numerous causes (e.g. lightning, electrical wiring issues, pet shenanigans, rodents), and old mother nature might deal you a disaster (e.g. flood, wild fire, tornado, hurricane, sand storm, earthquake: you get the idea).  It comes down to your comfort with risk and if you look at your collection as something you can't afford to lose, or is it expendable to you.  I personally use Collectibles Insurance Services, LLC.  For me, they have been easy to use and a great price.  Yearly cost for me is about 0.34% (not 34%, but 0.34%) of insured collection value. I only have to list/schedule any individual items of $5,000 or more.  Also, you want to keep handy your own inventory of what you have.  The links Jeff provided you previously also discuss insurance as well.  Good luck in your decision. Okie