nba cards insurance, safe deposit box

boosta

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clemboy76
Hi all

Been researching and saw a similar thread in BO, my cards are in a safe deposit box and I can't find any insurers company that might insure NBA cards, tried this link http://www.collectinsure.com/ and it doesn't work for me.

I'm with RAA insurance and this is their response:

As per page 47 of our product disclosure statement. Collection means: A number of items that have been gathered together according to some underlying principle, that when they are grouped together has a greater value that the sum of adding up the value of all the individual items.
If this is the case, they will be classed as a collection and we would need you to maintain proof of this, eg. photos and receipts or valuation in the event you need to make a claim. We cannot increase the amount we cover for collections, however, you can obtain a valuation and if greater than $10,000 we can specify these items on your policy. Please keep in mind this will increase your premium.


In the event these items are not classed as a collection as per our guidelines, you can still choose to have these items specified and covered for full value, we would require a valuation to be sent through and this would increase your premium.

Valuations....
Any recommendation of insurance companies that insures collectibles?

Contacted PWCC Vault but that means cards will be based in US and their responses if anyone is interested.

1) Charges > Nothing is set in stone yet, but we are anticipating a 1% archival fee to cover our overhead of digitally archiving the cards and an annual fee for the storage/insurance. It will be somewhere in the .25%-.5% annually, depending on the size of the collection. These rates are similar to what someone would pay for insurance themselves.
2) any climate / humidity control? There is definitely climate control, humidity control and numerous security measures. The vault itself is built out of 750,000 pounds of approx. 12” reinforced concrete and has 2 vault doors, each weighing the same as 2 Ford Escapes. The security system itself is the highest level of certification we can receive.
3) Any max or minimum number of cards that can be sent? There is no minimum number of cards but there is a value minimum. They must be approximately $250 in value. For set collectors, we will allow “Set Lots” where cards are worth less than $250 but the set itself must far exceed the $250. We might come up with a minimum set value, but haven’t figured that out yet.
4) insurance coverage for any damage > Each item that is stored in the vault will be appraised. This appraisal value will be used for insurance purposes. The majority of the appraisal values will be automated with all of the live sales data we have from VCP and eBay, so it will go up when the card value goes up. When we have a card that is rare enough where sales data isn’t sufficient for appraisal, we will hand appraise those and will re-assess the value when needed.

Cheers
 
I've been with NRMA since 2002 - they'll cover collectables (Toys, Cards, etc). I tend to use Beckett $$ values for my insurance estimates - what they don't know, don't hurt them.
 
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