Didn’t Insure Your Collectibles – Be Quick About It!

Why do you insure things? To have financial recovery in case things such as a house, car, or equipment encounter irreparable damages. Insurance can be your way out of a financial crisis that would otherwise be a non-recoverable situation. When investing in expensive collectibles such as vintage jewelry, classic cars, sports card collections, and so on, you must have insurance to keep your investments safe.

Although newcomers to the collectibles industry start small and slowly expand their collections, experienced collectors must have insurance. This post will share some important steps to getting insurance and keeping your collectibles safe.

• Go through Homeowners Insurance Policy

Many homeowners have homeowners insurance that covers different types of damages. Although your homeowners insurance policy might not include coverage for collectibles, it won’t hurt to check. The first step must be to review your current homeowners insurance policy if you have one. Some insurance policies offer coverage for non-household items such as collectibles in case of damage or theft.

• Document Your High-Value Collection

In case the presumed damages take place, and you file a claim, you will be eligible to show how and what you owned as collectibles that the insurance policy covered. So, the first step in the process, if you don’t already have an insurance policy covering your collectibles, is to document all your collectibles. You must also note all the important details, such as when you bought it, brief history, the purpose of the purchase, any uses, and so on. Documentation must also include pictures and video evidence to ensure you’re the insured collectibles owner.

• Find a Dealer (Get an Appraisal)

To get an insurer to offer you coverage, you must provide accurate monetary value of your collectibles. On top of that, you must have evidence of that as well. That means you’ll have to find an online collectibles dealer that can appraise your collectibles fairly based on their rarity, condition, and other significant factors.

• Lookup an Insurer

Looking for an insurance coverage provider can be quite tricky. You can search on the internet or talk to the current insurance provider for your home or other valuable investment that you’ve made. Look for an insurer specializing in coverage for non-household items, including collectibles. Read the offered benefits, policy requirements, and terms and conditions to move to the final process, where you sign the paperwork.

Conclusion

Do you want to sell your high-value and rare collectibles to a reputable dealer for the best price? When buying collectibles with Collectibles Investment Group, you can generate returns you dreamt about. We purchase coin collections, vintage toys, vintage video games, sports cards, vintage comic collections, and several other collectible types.

Our professionals have worked at nearly all collectible market and selling stages. We can not only get you fair appraisals and quotes for your mint-condition collectibles but also offer safe shipment. Please send us an email at cash@collectiblesinvestmentgroup.com to get your queries answered.