Insurance of MTG stuff, when?

Personal offers and search inquiries about regularly purchasable standard Magic products.

Moderators: cataclysm80, hammr7, l0qii, Apocalypse2K, berkumps, dragsamou, mystical_tutor, pp

Post Reply
Fiber13
Librarities Member
Posts: 28
Joined: Thu May 19, 2011 7:36 pm
Location: Minneapolis, MN

Insurance of MTG stuff, when?

Post by Fiber13 » Mon Jul 23, 2012 8:16 pm

Hey y'all.
Curious about insurance.

I document everything I have and notify my homeowner's insurance policy for things worth more than $500. So, a few original artworks and some power cards.

Does anyone have a good resource on documentation? I can't find anything good to do other than a spreadsheet and comparable values for what stuff is worth.

Has anyone else gone down the insurance route?

User avatar
Magic61983
Librarities Legend
Posts: 1085
Joined: Mon Dec 10, 2007 5:28 pm
Location: Willowdale, PA

Post by Magic61983 » Mon Jul 23, 2012 9:10 pm

Home Owners coverage - Usually has 50% additional coverage for contents. You would want to add contents coverage for your collectables. You don't want to give a full list of the contents to the insurance company because of adding or selling you'll have to update the list.

Inland Marine coverage - Coverage at home in the US but not covered in a car accident. Photos of all items over $500 along with an itemized list. Cost is roughly 5% of the value of the collection.
BGS 9+ Alpha set 282/295 (97.29%) Avg 9.41
BGS 9.5+ Beta set 283/302 (93.71%) Avg 9.58
BGS 9.5+ Arabian set 35/92 (38.04%) Avg 9.62
BGS 9.5+ Antiquities set 82/100 (82%) Avg 9.64
BGS 9.5+ Legends set 279/310 (90.00%) Avg 9.61

hammr7
Librarities Legend
Posts: 698
Joined: Wed Feb 11, 2004 11:29 pm
Location: Southern New Jersey

Post by hammr7 » Tue Jul 24, 2012 3:57 pm

You need to read your homeowners coverage very carefully. Many (most?) specifically exclude collectibles over some specific value (for my coverage it was $5,000) unless you purchase a special policy rider. The same is true for china, silver, jewelry, designer clothing, rare books, and anything considered valuable as a collectible. This actually applied not only to my baseball and Magic collectibles, but to some of my vintage audio equipment as well.

When I asked what would happen without the rider, I was told the "replacement" could be some newer version of my original collectible. So an Alpha set might be "replaced" by the newer, and therefore better, M13 set. And if I argued hard enough, I might get a CE edition instead.

Better to read the fine print of your policy now, rather than be unpleasantly surprised later. If you have been with a company long enough, or if you have a bunch of policies (house and auto, for example) with them already, they will usually negotiate a decent price. If you have the policies, you might be able to get blanket coverage, where you have a slightly higher deductible, but have everything over that deductible covered.

Keevy Bogsbury
Librarities Member
Posts: 107
Joined: Mon Apr 25, 2011 12:58 pm
Location: South Carolina

Post by Keevy Bogsbury » Wed Jul 25, 2012 3:50 am

hammr7 wrote:So an Alpha set might be "replaced" by the newer, and therefore better, M13 set. And if I argued hard enough, I might get a CE edition instead.
Ouch... that would suck so royally.

Post Reply

Who is online

Users browsing this forum: Google [Bot] and 16 guests