knife collection insurance

[dave307]

What is the best company to insure a knife collection ? Some old posts say to use cia insurance. Is cia insurance company the same as cis insurance? Any help would appreciated. Hope is on the right forum

 

[JupiterPaladin]

Isn't that covered under homeowner's or renter's insurance?

 

[dave307]

My home owners policy will cover it only if i take out a balloon coverage for the knives. The last quote I got was $400 for $10,000 coverage. So for my knives $15,000 coverage around 600.00 a year. There has to be something better than this.

 

[K.O.D.]

You're in luck! I'm an insurance agent. They are covered from fire, theft, vandalism, tornado, etc, just like the rest of your personal property. However, that is subject to your deductible.

You can also schedule the the knife or knives in question, like jewelry, computers, fur coats, etc. By doing so, you avoid paying your deductible. However, it is an "agreed" value, and you would need proof of purchase or an official document stating the value as such. That gets tricky if you buy/sell/trade in the exchange.

Also, there is no real way to insure customization, so if they are stolen, burned in a fire, taken in a natural disaster, etc, you would get the value of the knife itself.

It was like with my Camaro I had, the vast amounts or modifications would not be taken into effect in a total loss.

 

[dave307]

I just wanted to point out to my fellow knife collectors that your home owners insurance will only insure you for a small, % of the policy. My policy is 150,000 for contents.So In my case thats $2500 for all my collectibles not just knives.So my knives are basically not insured plus the fact how do you and the insurance co agree on value. Does anybody use cic ( collectible insurance company) Their rates are good how about them paying claims?

 

[The Aflac Duck]

If I'm going to spend hundreds a year to insure my knives, I'd rather buy a fire-proof safe and put the insurance funds towards more knives

But that's just me

 

[Sonnydaze]

Big Blues did it again!

 

[dave307]

Thanks for advice. I'm going with C I S