Do you have insurance for your collection?

Questions, Questions, Questions. You got 'em? We'll answer 'em!
Hello everybody. I am now up to about 50 obey prints, 30 other prints I enjoy and have a pretty decent toy collection. From resin to designer toys, I have a little bit of everything. My brother is a lawyer and very smart guy. Every time he visits me, he tells me I need to get my collection insured. But I do like to trade with people to try and get pieces that I need. I was wondering if anybody has ever insured their collection and how do you go about it. And how much does it usually cost. Because I keep adding. So I was just wondering if this is a common thing. Never really hear people talk about it. Sorry for all the questions.
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Stonecutterjeff
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Mine is insured. If you have a homeowners or renters policy, just call your agent and say you want to schedule some artwork. I have what i own on a spreadsheet that I give the insurance company. The spreadsheet contains links to EB pricing. Since I buy and sometimes sell too, i shoot them the spreadsheet a couple times a year. It's pretty easy.

One last thing, most insurance companies require appraisals for items valued over a few thousand dollars which can be a pain.
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jjttdw
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@jjttdw - This is great info. But whats the charge for insurance like this?
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submethod
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I use actual art insurance as it's way better than regular insurance. They will pay for things like paper degrading over time, floods for burst pipes or similar(lots of homeowners/renters policies don't cover this), if art is damaged during transport. I use MiniCo(I think that's the name) and they're based in Arizona. They only require you to estimate total collection worth and declare any pieces over 5k in value.
conartstudio wrote:the majority here enjoy art, the majority on EB enjoy profiting off of art. people become ruthless when money is involved.
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DunDun
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DunDun wrote:I use actual art insurance as it's way better than regular insurance. They will pay for things like paper degrading over time, floods for burst pipes or similar(lots of homeowners/renters policies don't cover this), if art is damaged during transport. I use MiniCo(I think that's the name) and they're based in Arizona. They only require you to estimate total collection worth and declare any pieces over 5k in value.


I had to check it out for myself. http://www.minico.com/ It's included in the Collectibles Insurance product. The supposedly have nationwide coverage so I'm going to look into this further. Thanks for the heads up DunDun.
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hexterb
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insuring 500$ costs about 1$ a year ober here in germany
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ideabolo
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Great info thanks guys
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rlbchef
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ideabolo wrote:insuring 500$ costs about 1$ a year ober here in germany

Generally works out to 2-3% declared value, annually, in the USA.
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libertarian
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I have dedicated art insurance - I don't remember who it is through though - I think it's about 1% of the value per year.
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noverflow
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Finally getting around to insuring my collection now that I have some fine art pieces. Other than https://www.minico.com/collectibles-insurance/ are there any other insurance companies that you can recommend?
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no1gdman
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USAA
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bigstrunso
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