Baseball cards are valuable trading cards in the USA that features baseball players and teams. You probably have a lot of baseball cards if you have been collecting them for a while.

You might suddenly be looking at a valuable asset like baseball cards, not just a little collection that needs to be stored in top loaders or kept away from humid environments. In that case, insurance can be the perfect solution for you.

My father used to collect baseball cards since 1980, and he ensured safety through insurance. However, he had to do a lot of research about the insuring process. As a result, it has become a valuable asset nowadays.

Are you interested in “How to insure baseball cards” and wording how it protects your baseball cards? Do not worry. In this article, I will briefly discuss securing baseball cards through insurance.

What Is Insurance for Collectibles?

Collectibles insurance protects valuable items like baseball cards from loss events like theft, accidental damage, and mysterious disappearances. They take into account the fact that collections typically value over time rather than devalue.

You might need more than that to replace your collection if it were ever stolen, damaged, or destroyed. And even if there is sufficient coverage in terms of dollar values, the policy might only cover certain collectibles, like Persian rugs or fine art. So it will only cover the loss in part.

Outside of your home, your baseball cards may also be covered by collectibles insurance policies. You can, for instance, customize a policy to protect your baseball cards while you are on a trip, in a storage facility, or on display at an exhibit.

The procedure for ensuring baseball cards

So “How to insure baseball cards?” To ensure baseball cards collection, you must provide evidence that you own the collection, a detailed inventory of its contents, and a third-party valuation, such as a bill of sale or appraisal to the insurance company.

Insurers will need a little more information about your lifestyle and collection. You can get an estimate by using some online quoting tools. After that, you will talk to insurance companies or consultants to get a more accurate quote.

For instance, do you work as a dealer and frequently accompany your baseball card collection on exhibition trips? A policy that covers inventory theft, accidental damage during transportation, and loss is necessary.

More About: Best Auto Dialer For Insurance Agents?

Collectibles Insurance Application Process

You have to fill out an application and send it via email after a few emails with your agent, in which they answered all of your questions and guided you through the process. The application process will take a few minutes despite having approximately five pages.

Personal information, information about the collection, and standard anti-fraud information are gathered during the application process. Items valued at more than $25,000 must be accounted for individually. But items with a lower cost can be recorded more broadly.

It is essential to have your collection records such as a spreadsheet, purchase journals, photos, videos, and so on. Suppose you are required to submit a claim to establish ownership. In the event of a loss on-site, it is essential to include sufficient details in this accounting and to store this information somewhere other than where you keep your collection.

The best way to store the data is in the cloud, which can be accessed from any device.

Approximate cost for Collectibles Insurance

Collectibles Insurance comes at a variety of prices. The deductible amount, the total policy value, and whether the policy is for a dealer or a collector are all factors.

A policy via CIS for a collection with an estimated value of $100,000 would cost approximately $640 without a deductible. For a claim to be filed, the minimum loss must be more significant than $50.

It would cost around $900 annually to insure collection values of $100,000 with a $1,000 deductible using current pricing on CF’s application form.

As you can see, there are price and coverage differences. Each collector is responsible for deciding what is best for them based on information.

Advice on purchasing insurance for baseball cards

You have to follow some guidelines while buying insurance for baseball cards. Those are:

1) Decide whether you are a dealer, a collector, or both. You have to ask about your particular insurance requirements.

2) Evaluate the policies for:

• Kinds of loss.
• Exclusions.
• Cost per thousand of the estimated value of the collection.
• Deductible.
• Inventory needs.
• Policy costs.
• Conditions of Payment.

3) When valuing your collection, be realistic. The amount of coverage required is proportional to the value. A higher premium is paid for more coverage.

4) Determine your collection’s fair market value. It is also known as the current replacement value.

5) Keep a copy of your inventory and certificates of authenticity separate from your collection in a secure secondary location. A safety deposit box or even an email sent to yourself are examples.

6) When taking pictures or videos of your collection, look for any markings that can be used to verify the piece’s authenticity. Keep digital copies separate from your group and backed up on multiple sources. For storing such digital files, a cloud program like Dropbox is ideal.

7) Immediately report any loss caused by theft or burglary to the police.

8) When misfortune happens, accumulate your records and contact your insurance agency quickly with the accompanying data.

• A contact number.
• Assurance number.
• Type and place of the loss.
• The loss date.
• Sum claimed.
• Documents like inventory sheets, photographs, videos, police reports, receipts, and certificates of authenticity.

The best insurance for baseball cards

When I decided to look into collecting insurance, I started asking around and reading forums, and other similar places. Collectibles Insurance Services (CIS) appears to be the best in my eyes.

CIS covers everything from comic books and artwork to guns, coins, and sports cards. I looked at their website, which has a lot of coverage information and lets you quickly get a quote by answering a few easy questions about your collection.

I then requested a quote for one night. They responded immediately through the website. I did not do the procedure that night because I wanted to think about it. A representative from CIS called me the following day, left me a voicemail offering assistance, and then sent me an email. I was surprised to find out about that level of customer service.

I wanted to verify my valuation estimate, which was one of the reasons I waited to sign up for the insurance. With more than 920 cards, graded baseball cards are the most valuable part of my collection.

At first, I estimated this collection to be worth $25-25,000. With more than 920 cards, this took some time. I had every relevant advantage in a Google bookkeeping sheet, numerous with the first price tag, so I added a section for modern comp cost and began scanning eBay for late deals.

However, I am glad I put in the effort because I found that my initial estimate was significantly off and that the graded cards were worth closer to $32,000 based on the current cost of replacing them.

What is included?

According to the CIS website, the following things are covered:

• Accidental Loss.
• Burglary.
• Fire.
• Flood (except in Zones A and V).
• Mail Loss.
• Natural Disasters.
• Theft.

What isn’t covered?

According to Collectibles Insurance Services, the following things are not covered:

• Destruction or seizing of property by the government.
• Dangers from nuclear war.
• Gradual deterioration, such as fading, creasing, or damage to the surface.
• Insects, rodents, or another animal nesting, infestation, or release of waste products or secretions.
• Clamminess or dryness of the environment.
• Temperature variations or extremes other than fire.
• Acts that are fraudulent, dishonest, or illegal.
• Voluntary disposal of covered assets.
• Loss or damage while you or others working on your behalf are working on it.
• An undisclosed disappearance.

Types of Collectible Insurance Policy

You might be surprised to learn that an insurance policy covers every collection you own for collectibles. You can always get the item or collection insured if it is valuable to you.

Video game collectors’ insurance, glass collectors’ insurance, sports memorabilia collectors’ insurance, train collectors’ insurance, gun collectors’ insurance, books, manuscripts collectors’ insurance, records collectors’ insurance, and so on are among them.

Homeowners Insurance Policy and Collectible Insurance Policy

Collectibles are typically covered by some homeowner’s insurance policies in the United States. Therefore, if you already have homeowners insurance, you should review the policy document once more to determine whether it also covers your collectibles.

Some insurance policies still provide coverage for collectibles, even in rental options. Therefore, your rental insurance policy can still offer you collectible insurance even if you are not a homeowner. Nevertheless, it is essential to know that only a few will cover your collectibles.

Insurance for collectibles is designed to help you protect your priceless collection from damage and loss. A collectibles insurance policy’s coverage is typically superior to the range that a homeowners insurance policy provides for your collectibles.

Frequently asked questions

Since you are a collector of baseball cards, it is better to know the details about “How to insure baseball cards.” And you may have many questions to ask before buying collector’s insurance. I have included some questions that will meet your quest.

Final Thoughts

Collector’s insurance is something you should look into to protect your collection and give you peace of mind, no matter which company you choose. After researching “How to insure baseball cards,” I went ahead and applied for and purchased protection for my baseball cards.

The service I have received from Collectible Insurance thus far has impressed me. I hope I will never need to file a claim.

Now, it is your turn. If you want to protect your valuable baseball cards, it is wise to have collector’s insurance. The fear is that damage can happen suddenly without any foreshadowing.