Collector insurance

[Pat Pixley]

Ok I know you guy are tired of me talking about insuring
your collectables ,  But I'm going to do it again
The Company is Collectibles insurance Agency
Web site www.collectinsure.com or call them 1-888-837-9537
Here what they have Replacement Value, Fire , Flooding of all kinds, breakage and natural Catastrophes .

I will be taking my stuff there  at my renewal.
Pat

[halehouse]

I haven't heard you talk about insuring the collectibles, but you bring up a good point.  I have mentioned it to my State Farm agent (about my Coke machine, CD Rockola juke, and all my tin advertising signs) and they seem to think that the regular contents coverage in my homeowner's insurance should cover it.  What does everyone else do?  Do you guys and gals have special coverage?

[Pat Pixley]

Just so you know your home owners insurance cover you for replacement . which is your home and personal property ,
not your antiques. So if your home burns down there goes
your machines or collectibles.

Pat

P.S. I will take the app. home tonight andsend them tonight.

[halehouse]

Then that is something I should probably look into.  I have tried to explain what I have to my agent, but I think they don't quite "get it".

[Pat Pixley]

Dan have you gone there with some photo's
or had your agent over .Some times its better for him to
see first hand what you have ,then give him the price's
of each item and have him get you a rate first on each
item ( some agent wont or don't like doing all of this work,
so remember he works for you and this is his job. ) so make sure you get the break down on each item. so you know they are insured properly.

 I have tried to get this application on here but it is to large
  so if you would like a copy just  Email me and I can get it
  to you.

  Pat

[Pat Pixley]

(note)  Home Owners insurance is designed to insure your home,
household goods & personal  effects, not your collectibles.
If a loss occurs the non-collectibles items are covered first.
You do not know until after a loss if your collectible are insured.

[Lulu]

I had a situation involving a fire.  I thought I was paying for an antique "rider" on my homeowners policy.  My agent thought I was paying for an antique "rider"on my policy.  When the fire occurred, the insurance company said that I wasn't.  They made it right because the agent screwed up.  However, it was a learning experience.  I recommend a detailed inventory including serial #'s, pictures, values etc.  Make sure that you update the values periodically.  Also, some companies may require you to have a certified appraisal for the values before they accept them.  Otherwise, a table is a table if it is not listed on the "rider", plus they'd probably try to depreciate it.  Hope this helps.

[Pat Pixley]

That is so right  a table is a table unless you have it on a rider and yes some companies are asking
 for appraisal. this is why I am saying check out C.I.A. they have some pretty  good rates
$50,000 the premium is $190 for a year
and C.I.A there carrier is A.M best  A+(superior)  with 35 yr Experience.
Or check with your agent to get a rate  .
Pat  
:'>

Need to know where to get an appraisal.  Who is the most able and trustworthy.

Here's a great article on insurance http://moneycentral.msn.com/content....346.asp

As for antiques I know the government doesn't count anything less than 100 years old as an antique.

Do you classify a soda machine as a collectible or as a soda machine.  

Time to look at a rider I guess.

AHHH! You hit on an area near and dear to my heart.   Yes, the government does use 100 years as the difference between old and antique.  And you can be required to prove the age of the item to get a break on an item.  An item proven to be an antique can generally be imported duty free.  That is my area of interest.  

What and how your, or an insurance company classfies an item, is on a case by case basis.   Best to check with your insurer, or be specific with whomever you are trying with for a policy.  The old better safe than sorry policy.

On a side note, the definition of art as applied by the government, and what you would like to call art for duty free status, can be at different ends of the spectrum.  Also the term native handicraft.

[Pat Pixley]

Lala, Check with your local antique dealer sometime's
 they will do it for a price.
  Pat  '>