As a comic book enthusiast (like Michael Jackson was), you probably have comics that you want to protect. Maybe they’re even comic books you created yourself. But what happens if your comic book collection is stolen or catches on fire? Believe it or not, there are insurance companies that specialize in collectibles. Let’s take a look at how to choose between these companies, and we’ll also provide some simple tips for caring for your stash.
Many people believe that their collectibles are covered under their homeowner’s insurance (visit site). With many homeowner’s insurance policies, there is either limited coverage on collectibles such as comic books, or in many cases, no coverage at all. Sure, you can buy extra coverage sometimes, but even then the policy is limited and vaguely worded. If you lose an Action Comics #1, which has sold for over $3 million, you wouldn’t be too happy if it was replaced with just any Action Comics issue. This type of replacement actually satisfies insurance company requirements many times.
Because of these vague insurance policies, there are insurance companies that specialize in collectibles like comic books. Just like any insurance, it is always good to know what you are looking for and what you are getting. Here are some tips when collectible insurance shopping:
- Speak with an insurance provider who specifically deals with comic book insurance.
- Always read the fine print. The devil is in the details.
- Make sure you know the current market value of your comics. The best idea is to have your collection appraised annually.
- Verify the amount your collection is insured for.
- Ensure you are protected in all 50 states.
- Photograph your collection. This is especially important for rare and high value items.
You can attempt to avoid the need for insurance altogether with some protection at home. In case of a fire, your shelves are likely to help fuel the flames. To help prevent that, invest in some fireproof shelving units. These shelving units are not only functional, but can really help keep your comic collection neat and organized. Another popular option is a fireproof comic safe. A safe not only protects your collection from damage, but can also help to deter theft.
No matter what you choose, the important thing is that you are happy with the safety of your comic book collection. There are plenty of choices out there, but not all of them have your best interests at heart. Remember our tips and shop around wisely.