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bigwallastyle
10-20-2009, 09:49 PM
Hey everyone. Haven't been trading lately. My wife and I decided to refinance the house, get new insurance, restructure our debt, change banks, etc. Been a mountain of paperwork and time so I quit trading cold turkey for the last two months or so.

The one thing that I found out that concerns everyone here is about insurance. We own our home (still paying the mortgage) and we have relatively good homeowners insurance. When our new agent came out to take pictures, I took him to the basement and showed him a small portion of my card collection and started asking questions. If we had a total loss, I wondered if my card collection was covered as it has grown quite extensive over the last 12 or so years. I was FLOORED when I got the answer. I would receive $1000 extra for my collection if we suffered a total loss. And that was only for an itemized list with values provided for each card covered. Assuming you have visited my have pages lately, you will understand why. I figure I have 50000 cards in my PC plus another 50000 for trade.

As you may have guessed I panicked. Obviously, my Pujols GU collection of 180 or so is $1800 at a very conservative $10 each- without the other 2000 other Pujols cards I have in my PC. So, I got to asking what I should do about that. What my agent and I decided was that I would list all my cards in a Beckett inventory (can't stand Beckett). And then, once a year, I would provide a "snapshot" of my collection. So basically every year, I'm going to pay for the Beckett prices and print out a new value of each collection and then if something ever happened, I could print out my inventory from the Beckett site. I am going to then purchase extra insurance to cover my card collection.

So, as I began this daunting task, and the crazy cleaning, putting stuff away, and organizing that came with it, I realized this was going to take until XMas or later and that was only if I quit trading and did this for my normal 30 to 60 minutes of trading each night plus a couple of hours on the weekend. So far, here are the collections I have completed:

Matt Morris
960 Haves with at least 1000 doubles to sort and catalog)
63 GU
13 Auto (all 13 that I know of)

Pujols:
Haves 2163
GU 178
RC 15

Griffey (only listed 89-93 and 08 so far)
Haves 693

Duke Players (bits and pieces from all players)
About 300 haves with about 5000 minimum more at least to add)

Cardinals (from mid 2004 to 2009 so far)
4382 Haves
Memorabilia 284
Auto 185
RC 175

The moral of the story is that you may want to think about contacting your insurance agent if your collection is not already insured.

Tom W

jimmyharcar
10-20-2009, 09:58 PM
nice collection by the way. I work for a large insurance company and have talked to my agent acouple of times about it and need to get on teh ball and get it.

Anyone's homeowners or renters carrier should offer the coverage and there are also companies out there that soley insure collectibles and collections.

loftheb
10-20-2009, 10:29 PM
I think the lesson here is to not rely on homeowners insurance to cover collectibles. Loyalty had a post about someone who insures only collections. Might be worth it to look into that.
Thanks for the heads up and good luck with the inventory.
-Casey

bigwallastyle
10-21-2009, 08:12 PM
Thanks. Working on adding more tonight. I'm guessing I have at least 25000 different Cardinals cards.

Tom