Primarily Petroliana Shop Talk Forums Shop Talk Petroliana Forums General Petroliana Discussion appraisal on your collection

has anyone had there collection professional appraised and what kind of insurance do u have.?

Hagerty covers mine for 75,000. Real easy gone and about 700 a year.

Is that a separate coverage other then regular business or homeowners if your collection is at your residence? My insurance company wanted about 1500 as an adder to our normal homeowners policy. Where is Hagerty out of?

I have Collectibles Insurance Services,L.L.C.
I pay over a thousand a year but it covers items at my business and at my man cave. And covers items shipping and receiving with restrictions.
Had hagerty when I had the muscle cars but changed to these people for 8 years now.
www.Collectinsure.com
Maurice

I do not know if one becon writes hagerty policies for items but if they do I would not rec. it.

I have the same as Maurice and they are so easy to deal with. My cat yes I wrote cat broke two of my globes last year I took pictures told them what happened and they paid it with no problem. I now have all my globes in globe holders no problem with the cat anymore. i have 25,000 coverage and I pay 65.00 a year so its not bad when you think about it.

That is cheap. Hagerty is the same people that insure classic cars and bikes. I am not sure if you have to have a car insured with them? Really nice to talk to on the phone. Good luck.

You may want to check your own homeowners insurance. We actually have car and homeowners on seperate policies (long story) and I wanted to insure my art I was producing and also have liability to cover studio visitors. It was the car insurance (state farm) that came through and provided the extra coverage (the home insurance was going to farm that policy out to another company). Now I guess it's considered part of my business, but if regular insurers offer extra coverage for art, jewelry, guns, electronics etc, why not your gasoline memorabilia?

Also have collectors insurance, just under a $1000 per year for two locations. Has full replacement for a total loss and a % for theft. Items over 5k need to be listed on the policy.

As Maurice said there are some limitations for shipping or transportation but if you go to shows or auctions the transportation benefit is really nice (it only takes one set of rough railroad tracks or one bad strap).

Hey, no one has answered Moparman's question about appraisals. How did you get your appraisal in order to know what coverage was needed? I'm needing this advice also! Sam

With Collectibles Insurance Services, you don't need to have your collection appraised. As okoil1 said, you do need to list items over 5K in value on the policy, but they don't need to be appraised.

Tara is right with Collectibles Insurance Service you do not need an appraisal. You just need a list of the items with a value. I suggest you have photos of all of your items storage at a different location or in a fire proof safe. That way you can have some like me or Scott Benjamin do an appraisal from the photos. I would not pay for appraisal unless you are setting up a trust or dividing an estate. I have done appraisal that have cost from $1500 to $15,000, you can buy alot of stuff from my auction for that kind of money. Dan

thanks for all the incite everyone.

What type of deductables are associated with the policies that you'd get at Collectibles Insurance Services? I checked out their web site but didn't see anything about deductables when filing a claim. Greg

It's 50 per claim