Pen insurance?

[asimplemaestro]

Whats the scoop? Anyone have it? Cost? Worth it? Thanks

[DeaconKC]

Anything can be insured. If you have any kind of collector value pens, it might be well to consider it.

[Doug C]

Whats the scoop? Anyone have it? Cost? Worth it? Thanks

 

 

I have a rider on my overall policy that covers jewelry/watches/ artwork/and collectables.

 

 

I think it is $23/month. Right now, the retail prices of my pen collection is about $25k (not that I could get that).

 

 

 

 

 

[sexauerw]

I have a separate policy from Collectibles Insurance Service, www.collectinsure.com. I think it's a little cheaper than Doug's rider on his homeowner's policy for the same coverage value, as of last April when I renewed. I like them because they specialize in collections and understand that they aren't static. Very easy to deal with. (I have no connection with them other than as a satisfied customer.)

[ParkerQuink]

It would be interseting if somone offered a pen loss insurance. Although as easy as it is to loose a pen, I guess it would be just as easy to claim that you lost it...

[BrandonA]

Good house insurance covers it. My collect is fully covered at no additional cost.

 

It covers all my pens when they are I the house. I'm also covered to travel with a good number of pens based on their value, can't remember the value but it covers three MB Starwalkers,

[ParkerQuink]

Good house insurance covers it. My collect is fully covered at no additional cost.

 

 

I am assuming this doesn't cover accidental loss?

[ac12]

Like any insurance, you have to determine for yourself if it is worth it.

The insurance company is gambling that you won't make a claim, you are gambling that you will (or why buy the insurance).

You have to determine if you can absorb the loss (without insurance), or not. If you can't, then you should consider getting the insurance. If you don't get insurance, you are then gambling that you won't have a loss.

The difficult thing with collections is, that some of the items may be VERY VERY difficult to replace, if it can be at all. So can you put a price on that.

 

As for coverage and price, YOU need to talk to YOUR insurance agent.

• Is it a collection or not, it is considered "fine art," etc.
• Do the items have to be itemized, or can it be a pool that you have pens going in and pens going out.
• Do the expensive pens need to be itemized and appraised, similar to some jewelry riders.
• What documentation is required to prove that you indeed own those pens that you are wanting to insure.
• What about deductible?

If I lost a $100 pen, I would be hessitant about making a claim. Your rate may go up, and after the deductible, how much would you collect anyway.