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?
Insurance of MTG stuff, when?
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- Magic61983
- Librarities Legend
- Posts: 1085
- Joined: Mon Dec 10, 2007 5:28 pm
- Location: Willowdale, PA
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.
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
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
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- Librarities Legend
- Posts: 698
- Joined: Wed Feb 11, 2004 11:29 pm
- Location: Southern New Jersey
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.
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.
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- Librarities Member
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