In the case of a fire/water damage something like that, they will send insurance adjusters in to see the damages and they can usually visually verify remains of certain things. In the case of theft especially of small pieces of cardboard expect to have to jump through MANY hoops to prove that you lost what you say you lost. That is why it is so common to have such low limits on cash/collectibles for homeowners or renters policies. Every single house that is robbed or burned down would have had $100k in cash stuffed in the mattress if it is something that would be covered without question.
Part of getting that added insurance for cash/collectibles will be documenting roughly what you have and what it is worth so that makes it easier in the event of any loss down the line.
Source: Dealt with a loss claim on renters insurance policy as well as several conversations with GEICO about properly setting up my homeowners policy and collectible rider.
I neglected to mention what your saying about 1000.00 coverage. Yes, most have that built into a policy but I wasn’t referring to that. To most of us 1000.00 wouldn’t cover our giveaway box lol.
You mentioned Geico. That’s an insurance company we checked and they will NOT cover any substantial trading card collection for any price…at least in the 5 states we checked.
I have my house insured through GEICO but the policy is actually maintained by homesite. Something like that whatever their terminolgoy is. I used to have everything under state farm but I really didn’t like the agent and then moving everything all together I saved a lot with the same coverage under GEICO. I was able to get the rider for collectibles through my GEICO agent but that very well may be through some other company as my home insurance is.
I called 3 of the biggest insurance company’s and none will insure Pokemon cards for any amount under any circumstances. The amount I inquired about was 10,000.00 to 250,000.00usd.
Collectibles insurers can be pricey so I was hoping for an alternative.
Does anybody have a “specific” option?
In Australia you typically insure your home and contents under the same policy, with most of the companies you can add specific items you want insured (collections) in addition to the stuff generally covered up to whatever limits there are.
They do generally have limits however such as a 75-25 rule, whereby your specified item can’t be more than 25 percent of the total value of your contents insured.
Trying to insure a couple hundred grand worth of cards wouldn’t be possible (I don’t think) without specialty insurance which would be quite costly I’d imagine