MTG Collection Protection & Insurance

[Nocley]

After a bunch of discussions over the past week, and me realizing that my collection's value is now well worth the value of many new cars, I'm looking into various insurance policies I could take out on my collection.

I'm assuming based on some of the cards people show off in the pimp decks thread, that someone here has been through this process and can recommend values and possibly companies to work with, as my current homeowner's policy will not work with me on adding this to that policy (though they do cover $3k nominally, with a 1k deductible, but only for causes that would be covered under homeowners). I've heard comments too about policies that cover traveling with some cards too, that would assist if cards got stolen if I'm at an event on the other side of the country, for instance.

Also, does anyone have safes for their collections? Other means of protecting their cards? It just seems weird having a box/binder that collectively is worth so much, and no other protection outside of that box and sleeves.

[WorstBandNameEver]

I've been looking into insurance. My friend has a policy for with Collector's Insurance I think that's less than $200 a year and covers around $25,000 I think.

I currently keep all my high end stuff in a fire-resistant, water-proof safe that was not terrible expensive.

[Giants1990]

After a bunch of discussions over the past week, and me realizing that my collection's value is now well worth the value of many new cars, I'm looking into various insurance policies I could take out on my collection.

I'm assuming based on some of the cards people show off in the pimp decks thread, that someone here has been through this process and can recommend values and possibly companies to work with, as my current homeowner's policy will not work with me on adding this to that policy (though they do cover $3k nominally, with a 1k deductible, but only for causes that would be covered under homeowners). I've heard comments too about policies that cover traveling with some cards too, that would assist if cards got stolen if I'm at an event on the other side of the country, for instance.

Also, does anyone have safes for their collections? Other means of protecting their cards? It just seems weird having a box/binder that collectively is worth so much, and no other protection outside of that box and sleeves.

Collectinsure.com

I highly recommend a safe. You never know what could go wrong. A small safe won't be that expensive and will hold plenty of cards.

[Dresden]

I second CollectInsure. There's also a thread on the main discussion thread on this from last year or so.

[Arsenal]

State Farm also is a major insurance carrier that offers protection for collectibles such as Magic cards, comic books, etc. My agent actually collects Pez Dispensers (there's a legit collectible community for this apparently) and she worked with me on my Magic collection.

[Richard Cheese]

State Farm also is a major insurance carrier that offers protection for collectibles such as Magic cards, comic books, etc. My agent actually collects Pez Dispensers (there's a legit collectible community for this apparently) and she worked with me on my Magic collection.

Did you have to get your collection appraised by someone before they would cover it, and do you have to regularly update them on the value?

I got a big-ass safe on sale, still considering insurance for when I'm traveling or at large events.

[nedleeds]

I have insurance up to $100,000 (which might be inadequate the way prices are going). A safe which I should use more when I'm away. And several firearms for when I'm not away.

[Esper3k]

I have insurance up to $100,000 (which might be inadequate the way prices are going). A safe which I should use more when I'm away. And several firearms for when I'm not away.

I have a friend who loves guns and Ted Cruz. That's enough insurance for me. (j/k about the enough insurance part, not the friend)

[Arsenal]

Did you have to get your collection appraised by someone before they would cover it, and do you have to regularly update them on the value?

I got a big-ass safe on sale, still considering insurance for when I'm traveling or at large events.

I just showed them dated photos of my collection (page by page in my Ultra-Pro binder) and used tcgplayer.com's Collection tool for the aggregate values. I was given a flat amount that they'd cover up to and I do not need to constantly update their values.

I think the process went way more smoothly than usual as my agent happened to collect Pez dispensers and understood the nature of collectibles and the secondary market.

[thecrav]

@Arsenal - Since I suspect my State Farm agent won't have a lot of experience with this, is there a specific name for the type of policy that you got so I can ask for the right thing?

[Arsenal]

Personal Articles Insurance. I also took this out to cover my 1.9c diamond engagement ring I bought for my girlfriend.

[Richard Cheese]

I just showed them dated photos of my collection (page by page in my Ultra-Pro binder) and used tcgplayer.com's Collection tool for the aggregate values. I was given a flat amount that they'd cover up to and I do not need to constantly update their values.

I think the process went way more smoothly than usual as my agent happened to collect Pez dispensers and understood the nature of collectibles and the secondary market.

Was the amount just high enough that price fluctuations/adding to the collection hasn't really made a difference or something?

[Esper3k]

Personal Articles Insurance. I also took this out to cover my 1.9c diamond engagement ring I bought for my girlfriend.

Hopefully she's your fiancé soon and not remain your girlfriend!

[HammafistRoob]

A safe which I should use more when I'm away. And several firearms for when I'm not away.
I can get behind this. Do you fancy yourself a handgun or assault rifle type?

[PirateKing]

I can get behind this. Do you fancy yourself a handgun or assault rifle type?

Well if you're serious about home defense, the correct answer is shotgun.

[Bed Decks Palyer]

I think the process went way more smoothly than usual as my agent happened to collect Pez dispensers and understood the nature of collectibles and the secondary market.
Pretty much this. I can't imagine myself trying to enlighten some insurance agent (or policeman in case of theft) what's going on in MtG. Part of the reason why I sold most of my stuff; when it came to the point where safe seems like a natural necessity for a pictorial cardgame, it's a bit too silly for my liking. It still seems like I'll get either a small safe or at least a panzerbox where to have my binders, main deck, effuse sideboard, spare keys, gun, documents and such.
I guess a real safe is not a necessity as long as I'm not having some insane collection (be it MtG or whatever else), but it's still much better to have all those things in a firm wardrobe where the kids/cat/burglar cannot easily get, instead of keeping them in a Puma bag.

[nedleeds]

I can get behind this. Do you fancy yourself a handgun or assault rifle type?

I have a Glock .40 and a Mossberg shotgun I call 'The Convincer'.

[SmallFish]

Well if you're serious about home defense, the correct answer is shotgun.

Or Booby Traps!

http://www.americancollectors.com/Collectible/17/

This place can provide some insurance as well.

[Megadeus]

We've got a Lee Enfield... Not exactly an awesome close quarters firearm, but seeing a man with a WW2 rifle in his hand is somewhat intimidating.

[Dan Turner]

I have a rider for collectibles set at $30k through our standard home owners insurance and a pit bull. Plus I collect swords and military fire arms.

[Arsenal]

Was the amount just high enough that price fluctuations/adding to the collection hasn't really made a difference or something?

I purchased 50k of coverage, even though my collection is approx. half of that. That also includes my diamond ring, so that pushes it closer to 32k total in personal articles declared.