Insuring your collection

[Bikeage77]

I just got off the phone with my insurance guy, right now I'm renting, and have renters insurance. However, in case of a fire, memorabilia is not covered because it's considered "sentimental value" which, yah, for the most part I got a lot of my autographs in person, and somethings were handed down to me from my grandpa. However, these are things that total up to thousands of dollars all in all., and Badger Mutual won't give me a policy for it.

 

Apparently most insurance places don't cover it unless it is in a home you own.

 

Any of you guys renting and have insurance on your collection? How much did it cost? Who'd you go through. I'd like to be able to think that most items could be replaced if I were to come home to see my house had just burned down or robbed or whatever. This is frustrating to say the least.

[berniebrewer4life]

I am renting, and my collection is not insured. Granted, mine is small compared to most on here, so it wouldn't take much to replace it. However, once i get a house and my collection starts to grow, i plan on seeing if i can insure it too.

[Paul77]

Believe it or not, I also found out today that my insurance will not cover my collection either. I've been thinking about this since last month. I begun building a detailed inventory of my entire collection as part of the process of determining how much insurance I'll need.

[Bikeage77]

My insurance guy is trying to see if through my renters and auto if they can find some kinda package somehow. He's gonna shop around for me on monday, and get back to me. 20fry, I'll keep you posted if I get anything.

 

I asked him about antiques because those can be insured, and there's something you can get there, but the stuff we have isn't considered antiques (unless someone here has a ty cobb bat and is holding out)

[Paul77]

One thing I've been finding is that even home owners / renters policies that do cover your collection, tend to pay out under replacement cost - and that seems to be open to interpretation and doesn't take into consideration the significance of an item or the amount you paid for it. So, non antique items - say game used bat from an important game in 2008 that cost you $500, could be replaced with the value of a regular stock bat, say $40.

 

Anyone out there in the insurance field want to educate us? Will keeping detailed photos, videos, inventories and provenance records help in the event of loss? Does having a good home security system in place help?

 

Also, on a related subject for collectors. It's a good item to keep at least detailed photos of your collection on file somewhere in case something is stolen. I've seen on several occasions people finding their exact items showing up on ebay and tracking down the thief. There are actually communities of people that watch various resale/auction sites for items that people report as stolen. Pretty cool, though I hope never to have to use their help.

[UtilityInfielder]

I believe mine is covered under my Renter's insurance. When I got my renters insurance I had to list all the items that I wanted specially listed. I also have my guitars and that sort of stuff lsted on it. I will actually be double checking my insurance policy now that I've read this discussion. It doesn't jack up the price just too much. I do need to keep a detailed list of stuff that I have.

[PeaveyFury]

Yeah, back before I bought my place my renters' policy with State Farm covered memorabilia/collections up to a specific limit on my general policy.

[Bikeage77]

My insurance guy found someone that can do a package with both renters and auto that includes memorabilia. I'm sure this works as a package for home owners and auto as well. He's glad to help you out. Tell him Corey sent ya http://forum.brewerfan.net/images/smilies/wink.gif

 

Justin Feest (Robert Feest and Associates, Elm Grove)

262 - 641 -0644

 

My plan came out to being an extra 90 dollars a year to cover my collection. Not bad at all.

[sgtcluels]

How do they value your collection though Bike? Did you have it appraised? They might just replace the balls instead of an equal item. (Especially if they are not authenticated)

[Bikeage77]

i need to get my stuff appraised by someone and send that in in writing, and pictures in to go with it.

 

I don't think the insurance company itself has someone they call in for this, however, you can call Justin at the number above if you have anymore questions...

[brewcrew779]

You should have Steiner appraise it for youhttp://forum.brewerfan.net/images/smilies/wink.gif

 

 

[Bikeage77]

if i had that kinda money for them to appraise it, i'd have a much better collection, ha

[Paul77]

I had a major scare a few nights ago. There was a fire next door to me and it came much to close to my house for comfort. Beyond the collection, it's a scary thing to be a few feet away from losing everything. I think I might need to restart my search for additional insurance...

 

My house is on the left.

http://images.yuku.com/image/jpeg/9ce35ba415649ab61b8c57df05f9ec3ad5b526c.jpg

[OldSchoolSnapper]

Wow. Glad you and your things are OK.

[zachlaka]

Wow that is scary for sure!! Good to hear the family and everything is all OK!!

 

Makes me wonder even if you have your collection and other valuables insured and you had a fire in your house would you try and grab something if you could or would you just run out of the house empty handed!!

 

Depending which room I was in and how bad the fire was I would try and grab one thing at least!! From my bedroom it would be a hand drawn picture a friend made for me of actress Jennifer Love Hewitt. If I am in my basement my Bill Hall Track suit bobble!! Even over everything else Brewers I have it is one of my most favorite items.

 

http://i112.photobucket.com/albums/n176/Zachlaka/lovehewittcom/th_Myframe.jpg http://i112.photobucket.com/albums/n176/Zachlaka/bobbleheads/Brewers%20Retail-Employee/th_BillHallFront.jpg http://i112.photobucket.com/albums/n176/Zachlaka/bobbleheads/Brewers%20Retail-Employee/th_BillHallSide.jpg

[Bikeage77]

Wow fry, that WAS close. Zach, if it was possible, I'd grab my 2008 team signed bat, throw my braun signed batting gloves in my pocket, and try to get out with my Yount signed jersey. Then I'd probably sell all three things, buy lots of booze and forget I ever owned any of it.

[Paul77]

There was an officer telling me to get out of the house because the fire had started to creep to close. I tried to grab some stuff but I had this moment of realization that I was never going to be able to grab all of it. So I dropped what I had on the floor, grabbed my phone and a blanket and went outside to wait. In the grand scope of things, all I lost was a swing set in the backyard and a few hours of sleep. We'll need new siding on the house, but I can live with that.

[BrewersSuperCollector]

I'd grab my kids and my wife. The rest...who cares.

[Paul77]

I'd grab my kids and my wife. The rest...who cares.

That's really what it came down to. I put the cars down the street and the kids in the car then went back.

[mattsr0625]

you guys are missing the point. wake the wife and kids first. because they can help you carry more items out faster the you can by yourself. glad that everything was ok.

[Bikeage77]

haha, matt....i don't have kids, if i did my priorities would be elsewhere...glad everything is okay for you though, can't imagine what your neighbors are going through

[Sixtofan]

The underlying insurance is Hartford

 

http://www.collectinsure.com/