Dr_Puck

Purchasing insurance for your jerseys

8 posts in this topic

I'm interested to hear how members insure their collections. Any big issues? Major lessons learned?

I just emailed my local insurance agent with a list of all of my jerseys and how much I paid for them. In the coming weeks I'll be photographing all of my jerseys against the same background (for consistency's sake when I trade/sell and for insurance). I know it's covered under homeowner's but the agent has asked for receipts and possibly an appraisal for "scheduling" purposes. The receipts are going to be an issue for me since a great deal of my jerseys are like yours and come via the secondary market, thus an appraisal will be the best route to securing my collection. 

Has anyone had an appraisal by an insurance company? Was it accurate from your point of view? 

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I was actually looking into this about 2 months ago and curious about the outcome as well.  There was also a thread about this in one of the game worn FB groups where someone recommended a website/company whose name escapes me now but they specialize in insuring either car collections or any other sort of collections such as sports collectibles.  I did a free quote online based on the estimate I put on the value of my collection and deductible I chose and got an estimate in the lower to mid $200's.  I want to check about getting it done under my homeowners to see if it is cheaper.

My question is that is that when they ask for receipts, do they insure on what I actually paid or value?  I am assuming what I actually paid and I am sure I can get receipts pretty easily from dealers such as Meigray.  My only issue is that a lot of the stuff I buy from there I do not buy at full price, so I don't want to be holding the bag when I have to replace the item I have to pay full price but I only got paid out the amount I paid to begin with.

Therefore, I too would like to see how the appraisal works in this case and how accurate others have found it to be.

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I have my collection insured but the more and more I think about it I'm not exactly sure what it would actually cover. 

I gave a list of my items and the price that I paid and that was the end of that. I didn't have to provide pictures of the jerseys or provide actual receipts of the jerseys. (Although I did take a video of it all). 

It's through my homeowners insurance and is the same policy that my brother had on his watches. One of his watches was stolen and they covered that so I feel comfortable with the policy. I should know more about it though. 

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2 minutes ago, Hollywood Cannon said:

I have my collection insured but the more and more I think about it I'm not exactly sure what it would actually cover. 

I gave a list of my items and the price that I paid and that was the end of that. I didn't have to provide pictures of the jerseys or provide actual receipts of the jerseys. (Although I did take a video of it all). 

It's through my homeowners insurance and is the same policy that my brother had on his watches. One of his watches was stolen and they covered that so I feel comfortable with the policy. I should know more about it though. 

Is it something that is covered under the general homeowners policy and just tacked on or is it a separate thing under your homeowners that covers collections and the like?

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It's a separate policy. I'll see if I can find the exact name of it. 

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I suspect proving the value of a hockey jersey to an insurance company is more difficult than it sounds. 

I don't have insurance, having only retail authentics and a limited number at that makes that unnecessary, in my opinion. 

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Jerseys are covered under homeowner's insurance. However according to this New York Times article, "... if something were to happen to your house, like a fire, scheduling could help you avoid arguments with your insurance company over what was in your house."

Basically with scheduling, you pay to have your insurance send someone to appraise your jerseys and your cost of homeowner's insurance goes up for extra protection. You also get what sounds like is more concrete proof of your jerseys in your insurance's eyes.

https://bucks.blogs.nytimes.com/2010/04/28/the-best-way-to-insure-your-valuables/

I got a quote back today on scheduling (contingent upon the appraisal) that I am considering. 

 

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I just moved and got a new home owners policy. Added my jerseys to it and they are separate from the rest of the coverage. Cost me $110 for the year. I simply gave them a list of jerseys along with perceived value/what I paid. I have photos of all of them in case the insurance company wanted proof, but they didn't ask for it. 

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