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#1
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Insurance for a book collection
Our homeowners policy covers - as most homeowners policies do -
coverage for loss of contents due to various events - fires, wind and water damage (think hurricanes - we live in FL), theft, etc. They do not cover the cost of what it would take for me to replace a good many of my books that I'm finding are worth much more then I paid for them. Does anyone know of a company that might specialize in such coverage? I really wonder what we are paying for sometimes. We have had to get special insurance to cover jewelry, certain types of electronics and other things we own that "regular" homeowners insurance just doesn't cover. And just yesterday we found out that our policy - along with 300,000 others here in South Florida - will not be renewed come next month. Ahhhh.....the joys of living in "paradise" cough. Don't get me wrong. I don't expect someone who lives in Nebraska to have to pay higher premiums because I choose to live in a hurricane prone state. But it has gone completely berserk down here in the last couple of years since we've been hit now over half a dozen times. It's not a question of *paying* for insurance, it's *finding* it. Geesh. I am moving way off on a tangent here. Par-doan. Any help on the relevant topic would be appreciated. |
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#2
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Insurance for a book collection
Pangarune Corner wrote: I ran into this problem many years ago... The answer, of course, is an appraisal. Seek out someone of high regard as an appraiser of books and discuss the rates with him. The books are then added by a special "rider". A cheaper and much less effective way is to at the least photograph the books, on each shelf and individually if necessary but that might eat up the contents portion of your insurance unless that to is increased. I shall not add one of the many jokes that come to mind for those living in Florida. The fact that you have Jeb as a governor is enough. Up here, those in areas with a history of or potential for forest fires suffered the same fate, and with no insurance, no mortgage. After Katrina, CNN was good at showing how some insurance companies did not "put you back where you belong". Horrible. Your money may be in good hands, but your assets? Up here, when over 100 homes burnt in Kelowna, some companies refused to pay and then would not renew. One state representative was quoted as stating he regarded insurance executives and child molesters at the same level of ethics. Willow "LiRM" wrote in message ... Our homeowners policy covers - as most homeowners policies do - coverage for loss of contents due to various events - fires, wind and water damage (think hurricanes - we live in FL), theft, etc. They do not cover the cost of what it would take for me to replace a good many of my books that I'm finding are worth much more then I paid for them. Does anyone know of a company that might specialize in such coverage? I really wonder what we are paying for sometimes. We have had to get special insurance to cover jewelry, certain types of electronics and other things we own that "regular" homeowners insurance just doesn't cover. And just yesterday we found out that our policy - along with 300,000 others here in South Florida - will not be renewed come next month. Ahhhh.....the joys of living in "paradise" cough. Don't get me wrong. I don't expect someone who lives in Nebraska to have to pay higher premiums because I choose to live in a hurricane prone state. But it has gone completely berserk down here in the last couple of years since we've been hit now over half a dozen times. It's not a question of *paying* for insurance, it's *finding* it. Geesh. I am moving way off on a tangent here. Par-doan. Any help on the relevant topic would be appreciated. While getting an appraisal is a good idea in many instances, I think most of us have a good idea of the value of our collection if we are paying attention to the rare book market. In this case most insurance companies, homeowner's insurance and the like, have coverage for art and collections but it is a good idea to have a rider which lists your collection, at least the most valuable parts, and just pay an extra premium for additional coverage. It typically is not much of an increase if your collection is worth twenty or thirty thousand or so. Now if your collection is worth six or even seven figures........ But most big companies have this option, just discuss with your agent. |
#3
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Insurance for a book collection
On Thu, 08 Jun 2006 09:23:01 -0400, LiRM wrote:
Does anyone know of a company that might specialize in such coverage? I've never used them, but seen ads for this outfit for a long time http://www.collectinsure.com/ |
#4
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Insurance for a book collection
R. Totale wrote: On Thu, 08 Jun 2006 09:23:01 -0400, LiRM wrote: Does anyone know of a company that might specialize in such coverage? I've never used them, but seen ads for this outfit for a long time http://www.collectinsure.com/ Specialty insurance such as this is typically a racket. Such a company can never compete with, say, State Farm. You don't need specialty insurance for coverage. There is no reason for such just as there is no reason for mortgage insurance. If you want some kind of life coverage, just get a term life policy which will cost probably a third of the specialty mortgage coverage and provides the same coverage. |
#5
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Insurance for a book collection
Is this reply correct? I recently solicited bids for insurance for my art
collection. My Allstate agent advised that if any specific item (or group, such as books or art) exceeded 20% of the total, they aren't allowed to underwrite it. A certified appraisal on my art sets replacement value at considerably more than the 20% limit. I presume the statement was correct because I not only had to switch my art to another agency, but all my other contents as well,. I hope anyone with information on this subject will reply. Thanks "kal53" wrote in message ups.com... R. Totale wrote: On Thu, 08 Jun 2006 09:23:01 -0400, LiRM wrote: Does anyone know of a company that might specialize in such coverage? I've never used them, but seen ads for this outfit for a long time http://www.collectinsure.com/ Specialty insurance such as this is typically a racket. Such a company can never compete with, say, State Farm. You don't need specialty insurance for coverage. There is no reason for such just as there is no reason for mortgage insurance. If you want some kind of life coverage, just get a term life policy which will cost probably a third of the specialty mortgage coverage and provides the same coverage. |
#6
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Insurance for a book collection
On Thu, 8 Jun 2006 10:57:35 -0700, "Joe Todd"
wrote: Is this reply correct? I suspect that the person who wrote it, like myself, has never dealt with the company whose web page I supplied. I have seen their ads in trade publications for some 10 years. Their website says they have been in business since 1966. I haven't needed their services, but I am sure others have and if it's a scam (or if it's not) Googling around a bit will probably give you more of a clue. |
#7
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Insurance for a book collection
Chubb is the best company for insuring valauble collections, but as
others have pointed out a simple rider to your homeowners' policy is sufficient. Denton On Thu, 08 Jun 2006 09:23:01 -0400, LiRM wrote: Our homeowners policy covers - as most homeowners policies do - coverage for loss of contents due to various events - fires, wind and water damage (think hurricanes - we live in FL), theft, etc. They do not cover the cost of what it would take for me to replace a good many of my books that I'm finding are worth much more then I paid for them. Does anyone know of a company that might specialize in such coverage? I really wonder what we are paying for sometimes. We have had to get special insurance to cover jewelry, certain types of electronics and other things we own that "regular" homeowners insurance just doesn't cover. And just yesterday we found out that our policy - along with 300,000 others here in South Florida - will not be renewed come next month. Ahhhh.....the joys of living in "paradise" cough. Don't get me wrong. I don't expect someone who lives in Nebraska to have to pay higher premiums because I choose to live in a hurricane prone state. But it has gone completely berserk down here in the last couple of years since we've been hit now over half a dozen times. It's not a question of *paying* for insurance, it's *finding* it. Geesh. I am moving way off on a tangent here. Par-doan. Any help on the relevant topic would be appreciated. |
#8
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Insurance for a book collection
Denton Taylor wrote:
Chubb is the best company for insuring valauble collections, but as others have pointed out a simple rider to your homeowners' policy is sufficient. Well, not all companies will provide riders, and some companies will only insure collections if you have your primary homeowners insurance through them. (According to what I've heard at SF conventions from folks with art collections, anyway.) -- Evelyn C. Leeper We don't inherit the earth from our ancestors, we borrow it from our children. -David Brower |
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