Card Insurance

[mchainmail]

Seeing as we all have tons of money invested in our Legacy decks and collections, it seems like insuring collections would be a good idea. Does anyone have any experience or advice on this subject?

(Cross-posted on mtgsal)

[cdr]

Your regular renter's/homeowner's insurance should cover your cards like any other property, although likely only while they're in your residence. You'd have to document them of course, and perhaps get them 'appraised'. Never looked into it much, though.

[hyperchord24]

Yeah, get pictures. But most of your belongings that you store in your house/apt are covered under homeowner's/renter's insurance. I have a firesafe box that I store my expensive cards in and as soon as we get a safe, they're going in there.

[Steino]

Typical homeowners/rental insurance will only cover specialty items such as Magic Cards to a certain dollar amount, stated in the contract. An Insurance Rider is available for items that exceed the normal contract. Easiest way to take care of this is to talk with your insurance provider.

http://insurance.freeadvice.com/insurance_help.php/109_138_254.htm

[Atwa]

I asked my insurance agent about this when I bought my house, and for me all my stuff is insured up to a certain amount.

This includes my magic cards, as long as I have proof I own the cards (pictures) and the total value of all my stuff doesn't exceed the insured value.

Now this is a Dutch insurance, I have no idea about the rules in the US, and I guess it also varies from insurance company to insurance company. Best way to find out is to ask your agent or call your insurance company.

[DownSyndromeKarl]

My Homeowner's Insurance covers "Collectibles" up to $40,000 based on income and relative safety of the home. My home meets safety specs(based on location, security measures, etc...) and my income exceeds the base amount. It was explained to me that my income matters because apparently if you make less than $50k a year, the insurance company finds it unlikely that a lifetime's worth of collecting is worth $40. go figure. I know my comic collection is worth a few thousand, my Magic collection is a little more, but my Star Wars collection breaks the bank at well over $40k...so if my house burns down, I'm SOL.

[Jason]

I attempted to get a specific collector's insurance through my insurance carrier that would cover all the cards individually (I'd have a list of what I have worth significantly money and that list would be constantly updating) - this is similar to what many people do with baseball cards. This type of insurance would cover lost, stolen, or damaged cards in more than just my apartment. However, my insurance company "didn't know enough" about the game so they refused to cover my cards. I still have them covered under homeowner's insurance, though. So I'm covered if they're destroyed or stolen while in the apartment, but if I'm elsewhere.. not so much.

[dahcmai]

I've heard it's all about proving what the cards are worth and having a ton of good pictures. I don't have mine insured, but I sure need to find out how so if anyone knows the exact sequence to do this I would appreciate it.

I have 3 1/2 sets of beta here that just scare me sitting on the shelf.

[rocketrae21]

I've heard it's all about proving what the cards are worth and having a ton of good pictures. I don't have mine insured, but I sure need to find out how so if anyone knows the exact sequence to do this I would appreciate it.

I have 3 1/2 sets of beta here that just scare me sitting on the shelf.

Why does anyone need 3 1/2 sets of beta?

[dahcmai]

Not a matter of really needing it, I played back then.

[rocketrae21]

Not a matter of really needing it, I played back then.

Well perfect. I will take one and 1/16th of a set