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Insurance for a book collection



 
 
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  #1  
Old June 8th 06, 02:23 PM posted to rec.collecting.books
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Default 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  
Old June 8th 06, 04:58 PM posted to rec.collecting.books
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Default 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  
Old June 8th 06, 06:32 PM posted to rec.collecting.books
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Default 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  
Old June 8th 06, 06:46 PM posted to rec.collecting.books
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Default 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  
Old June 8th 06, 06:57 PM posted to rec.collecting.books
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Default 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  
Old June 8th 06, 07:17 PM posted to rec.collecting.books
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Posts: n/a
Default 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  
Old June 8th 06, 07:41 PM posted to rec.collecting.books
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Default 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  
Old June 8th 06, 08:18 PM posted to rec.collecting.books
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Default 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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