Q & A From American Collectors Insurance

My spouse and I have two collections (collector figurines and model trains). Can both collections be written on the same policy?
Yes, the Collectibles policy provides blanket coverage, and can accommodate many different types of qualifying collectibles on the same policy. 

Doesn’t my homeowners policy cover my collection?
Homeowners insurance is designed to protect your dwelling and its contents (furniture, carpeting, appliances, and so forth), and may not contain any language specific to collectibles. With homeowner’s insurance, in the event of a claim your collectibles could get lumped in with personal property (unless a “rider” is attached, specifically addressing collectibles coverage). Also, most homeowners policies are not as broad in coverage as the collectibles policy available through American Collectors Insurance.  Finally, most homeowner's deductibles are $500 or higher, further reducing the amount you might expect to collect in a claim.

Do I need an appraisal to apply?
In most cases an appraisal is NOT required to apply. If you are asked to provide an appraisal we accept documentation from an authorized appraiser, receipt of purchase, and various collector price guides.

What types of collectibles will qualify for coverage?
We have a market for many different types of collectibles, including figurines, dolls, teddy bears, vintage toys, model cars, miniatures, collector plates, ornaments, animation art, sports memorabilia, model railroads and carousel animals. We also have a market for less well-known collectibles, so if you don’t see your particular collection on the list, give us a call!  

Are there any collections that you will not insure?
Coverage is not available for “paper” collectibles (stamps, cards, etc.), china/flatware, jewelry, coins, firearms, furniture or fine art.  

Is flood damage covered under a collectibles policy?
Yes, our collectibles policy covers perils typically not covered by homeowners insurance, such as flood, earthquake and accidental breakage. Additionally, coverage is provided for mysterious disappearance for items that are worth $2,000+ and scheduled on the policy.

How long has American Collectors Insurance been in business?
We’ve been in business since 1976. For over 30 years, we have been growing – and innovating – to maintain our reputation in the old car, hobby and the insurance industry, as the country's premiere provider of collector vehicle and collectibles insurance.  Our policies are underwritten by American Bankers Insurance Company of Florida, an Assurant Specialty Property company. In Minnesota, the underwriter is American Security Insurance Company. American Bankers Insurance Company of Florida has been in business since 1947 and has $1.6 billion in gross written premiums. These companies have a Best’s Rating of “A” (Excellent) by A.M. Best Company,* an organization that rates insurance companies, based on financial strength and operating performance.

To learn more about American Collectors Insurance, please visit www.americancollectors.com