How Much Does Insurance on Collectibles Cost?
Even for the best coverage on collectibles, the yearly premium on most collectibles are less than 1% of the value being insured. The best company I have found as far as insuring collectibles is American Collectors Insurance (ACI). ACI offers coverages not available with collectibles insured under homeowners policies. For the best coverages with ACI, the premium for most collectibles is right around 0.75% of the value.
As examples, if I own a baseball card collection that is worth 10 thousand dollars, the premium to insure the collection would be around $75 per year. If I own a china set that is worth 100 thousand dollars, the premium to insure the collection would be around $750 per year.
Putting collectibles as scheduled property on a homeowners policy is lousy coverage!
If you live in Ohio, Michigan, Pennsylvania, Indiana, Virginia or West Virginia, I will be happy to run a quote for you. Simply click on the link below.
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..