I would like some input from other collectors that have collectable insurance currently and their opinion on different options.
I am currently looking into the matter myself and since my collection has recently passed 300k USD I am starting to think insurance is a must have going forward. Some of my boxes will be going to my bank vault soon as well.
Current notable items:
Shadowless long crimp booster box
Jungle to gym Chall unlm and 1st ed sealed
Multiple PSA 9 crystal, gold star and 1st ed base holos
ect.
Make sure to check that the particular insurance company you are looking at is licensed and regulated in your state. If they’re not and you needed to fight them for a claim you would probably be out of luck.
I typically don’t recommend insurance in these instances, I don’t use it but I also deal with the insurance industry on a daily basis. I have collection in my house, in a secured location. I spent good money on a vault personally that doubles down as a panic room etc.
There is defiantly options and it really depends on what you’re worried about… ex I wouldn’t keep my collection in FL due to weather & I wouldn’t keep my collection in a high crime area. So what you’re insuring it from primarily is key, as any insurance company is just going to attempt to swindle you into premiums.
I live in a low crime neighborhood in a low crime town in a low crime county in a low crime country. Guns are illegal here, my home insurance policy is generous. I think the limit I have is equal to about $55.000 per individual item, including collectibles, and I could bump that number up if I wanted to, which I will probably end up doing at some point.
If the above didn’t apply, I’d definitively contact my insurer and hear about options. A lot of the information regarding high-end insurance is not readily available online, best thing to do would be to contact them directly. I know this is the boring answer, but that’s the conclusion I came to when researching this recently.
Personally, I would much rather pay a premium to have a rock-solid insurance and keep the items at home than storing off-site.
My personal setup is 2 1520 pelican cases that hold 10 wotc booster boxes, 2 1300 pelican cases that hold 1 booster box each, and a sealed tub with all high-end PSA cards. This all fits in my 24 guns safe with my 2 rifles and I am the only one that knows the code/ where the backup key is located. Honestly, my biggest concern is a fire as I have eliminated all other dangers such as water damage or theft. Weather conditions are not a concern as I live in Vancouver BC Canada so we don’t experience much high humidity or natural disasters…knock on wood lol.
I have seen some huge collections get destroyed by water/fire damage but not many stories about collection theft as I assume most thieves don’t look at pokemon as a valuable…well maybe now they do.
I am lucky in that my office is a converted Bank and still has the walk in safe. temp controlled, fireproof, watertight, and I have the only key/combination. Since I spend so much time at there it also means I can go and look at my collection anytime I like.
Personally I dont like insurances, as you can pay a massive premium on something so easily taken or damaged. Also are the current prices going to continue.
Same with Bikes, the insurance is very high because they are easily stolen. Id spend the money making it safe myself. A vault/safe that is protected against everything possible, it would still likely be cheaper than insurance over time.
Either that or a 3rd party vault that you feel comfortable with.
Get some quotes and it may make your mind up for you
Yes you have to take a 2 day course so the whole weekend basically but as long as you are able to learn the info and pass the tests your good to go. I only shoot targets out in harrison but having a gun at home also helps lol.
Yes i agree, funny enough i bought my gun safe for my cards and boxes haha. Although my high end items will most likely be going to a bank safe in the future for extra security.
