collectibles insurance services review

collectibles insurance services review, Best Collectible Insurance for 2022


 Collectibles Insurance protects your collectibles from accidental wear and tear, theft, flooding and other types of damage. Collections can include high-value items such as art, Persian rugs, model trains, coins, and more.

collectibles insurance services
collectibles insurance services

Collectibles in a home may be more valuable than the home itself, or at least enough that these items need to be covered as predetermined assets on a separate policy to be fully reimbursed. In 2020, rapper Logic paid $183,812 for a rare Pokémon card. In 2014, the 1938 Action Comics #1 comic book sold for $3.2 million on eBay. Most collectibles can be insured for 1% to 2% of their value annually. But your collection doesn't have to be worth millions to qualify for insurance.

We looked at 16 insurance companies before identifying these seven most collectible insurance companies. Winners stand out for their background, third-party ratings and other insurance products. The ease of combining policies, a simplified application process and customer support are also major factors. These attributes shape our image as a reliable, competent and convenient insurer who we can contact you with our advice.

Best Collectible Insurance for 2022

Best Overall: American Collectors Insurance

Best for Antiques: BHI Insurance Associates

Best for Persian Rugs: Arroyo Insurance Services

Best for Artwork: Progressive

Best for Sports Memorabilia: Collectibles Insurance Services

Best Value: Minico Insurance Company

Best Adaptation: Chubb

American Collectors Insurance

American Collectors Insurance, a company founded by passionate collectors, holds our overall best position when it comes to collectibles insurance. The company offers policy features that go beyond industry standards, such as its inflation protection, agreed value coverage and special policy enhancements.


Wide coverage

inflation protection

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Does not include furniture, art or jewelry

No free insurance product outside of collectibles

Founded by collectors in 1976, American Collectors Insurance (ACI) insures a wide variety of special items in all 50 states with agreed value policies that are rare in the industry and one of the features that make them our best overall.

Standard policy coverage includes theft, fire, flood and natural disasters. Other noteworthy policy features include:

Agreed Value Range: Fully insures your collection up to the policy limit, so you know exactly what your collection is insured for in the event of loss.

Inflation Protection Protection: This special protection adjusts the negotiated value of your collection to 8% if your collection is lost in its entirety.

Newly Added Automatic Coverage: Automatically cover new purchases of your favorites up to $2,000 with 30 days' notice.

Collector's Choice: Protects items for shipping, storage outside your home, or for special occasions.

Special policy enhancements: such as special insurance for collectibles you use.

ACI does not offer insurance outside of the collectibles market, so there is no opportunity to combine your coverage with a homeowner's insurance policy.

Each item has a different deductible, insurance limit and coverage, so collectors can quickly get a free quote through a simple form on its website. After getting a quote, policyholders can apply for coverage online. An ACI agent will be contacted to request more information or release approval.

According to a Trustpilot review posted on the ACI website, they process claims quickly over the phone. They usually don't even require an assessment if the agreed value coverage is already in place.

Customers can currently contact ACI's customer service team via email, phone or live chat. They are available on weekdays from 8am to 8pm. EST, 8am to 5pm on weekends. Eastern Time. Customers can also submit claims online.

Best for Antiques

BHI Insurance Institute

There are 44 insurance companies behind BHI Insurance Associates. Their brokers will purchase the detailed policy that best suits your needs and help you file a claim if you need it, making BHI the best option for insuring your antiques.


Detailed Antique Insurance

Express email support (response within 24 hours)

44 carriers to find the best costs and terms

Assistance with your claim

Other available insurance products


BHI does not have a financial strength rating as it is an independent broker

With so many insurance products available, BHI is more than just a collectibles company

As your independent insurance broker, BHI Antiques Insurance is able to combine policies to ensure your antiques and other collectibles are fully covered, making it our first choice. While BHI does not have a financial strength rating due to its status as an independent broker, they do represent companies like The Hartford, which has an A+ rating from AM Best.

1 BHI can cover the assessed value of your collection with a detailed inventory of all items, making it one of the safest and most comprehensive insurance options for homeowners' valuables. BHI will first seek additional options for one of your existing policies to reduce your costs. If you need a separate collectibles insurance policy, plan for 1% to 2% of your antique's appraised value. A policy rider, if it fits your needs, can cost you about half.

BHI Insurance has been in business since 1974 and offers a variety of personal and business insurance types. In addition to antiques insurance, customers can also get other personal insurance products such as flood insurance, auto insurance, homeowners insurance, renters insurance, boat and yacht insurance, motorcycle insurance, RV insurance, jewelry insurance, and umbrella insurance. BHI also has a suite of commercial insurance products. Headquartered in New Jersey, they are ideal for New Jersey residents. They are able to service some programs in other states, but they require you to call to describe the size and value of your collection so they can determine eligibility.

In order to insure your antiques, BHI will require you to have all items assessed. Next, they will ask you to list all the antiques along with photos and their appraised value. Once you do, one of their advisors will discuss the pros and cons of insurance reinstatement with you

Items with a policy that will pay for modern replica replacements.

The company takes customer support very seriously. Keeping customers well-served keeps them in business. You can contact them by phone, fax or through their online contact form. They usually respond to all requests within 24 hours.

Best for Persian Rugs

Arroyo Insurance Services

Arroyo Insurance is a trusted source for insuring your Persian rugs as they cover current market values ​​and have a unique policy feature if your rug is loaned to someone (or if you want to insure someone else's property) .


Insurance coverage for various collectibles

Comprehensive services including business, personal, employee benefits, life insurance

Backed by a reliable insurance company

Assure current market value

Insuring someone else's collection or your own


Extensive documentation required when filing a claim

No online quote tool

Arroyo Insurance Services generates more than $180 million in annual premiums through a handpicked selection of 30 A-rated AM Best companies. With rare policy features and current market value protection, Arroyo is worth your first purchase of Persian rug insurance.

Arroyo Insurance Services' history dates back to 1950, although the company was officially incorporated in California in 1986. They currently offer various types of personal, business and life insurance, as well as employee benefits in many different industries.

Home insurance may cover the value of your Persian rug, but there is a dollar limit on the amount insured. If your Persian rug's valuation exceeds the homeowner's policy limit, you will need to purchase a separate policy to secure its full value. Since Arroyo works with highly rated carriers like Zurich and Travellers, plan to charge a premium of 2% of the value of Persian rugs per year. When working with an agent to determine the insurability and value of any collectible, you will need to provide complete documentation including proof of title, bill of sale, appraisal, replacement appraisal and photos.

Arroyo Insurance Services provides customers with 24/7 service, Internet account access and call center support.

best for artwork


With progressive insurance, art owners can save even more money by purchasing a separate policy or in combination with another progressive policy to protect their valuables from theft, damage, loss and disappearance.


Artwork can be added to an existing home insurance policy

prevent various incidents

AM Best Rating A+ Advanced


High value artwork may not be covered by Progressive homeowners insurance and require a separate policy

There is no clear policy on when Progressive needs to be assessed; this is handled on a case-by-case basis

Progressive allows some artwork to be added to an existing home insurance policy, while more expensive artwork will be more suitable to be covered by a separate policy. But because of the company's complementary products and bundled savings, Progressive earns our nod for the best art insurance.

The company was founded in 1937 with the goal of being the first choice for consumers and agents. As a reliable company, Progressive currently has an AM Best rating of A+ (Advanced).

2 With their support, users can obtain various types of vehicle insurance, property insurance, financial insurance, personal insurance and commercial insurance. They can also bundle their policies and combine both types of coverage in one policy.

You can add a rider to your home policy to cover art, but Progressive may require you to purchase a separate professional policy for specific art based on your collectible value and the limitations of your homeowner's policy.

The cost of insuring art through Progressive is typically 1.5% to 2% of the individual piece you insure. That means a $20,000 product would cost around $300 to $400 a year to insure. However, you will need to contact them for the exact fee. If you can arrange your art under an existing Progressive homeowners policy, you can save about 50% on your annual premium.

While Progressive Insurance doesn't require an appraisal for art worth less than $5,000, once the company has conducted an in-depth review of your collection, they will retain the option to request an appraisal based on the value of your art and your home. Users can get Progressive Insurance by phone, email, or live chat with a support agent.

Read the full Progressive Home Insurance review.

Best for Sports Memorabilia

Collectibles Insurance Service

Collectibles Insurc offers the most comprehensive loss coverage, including during travel, in storage facilities or at exhibitions

If you want to protect your sports memorabilia, e Services is the best choice.


Created by collectors, for collectors

The most comprehensive loss protection

Items under $25,000 are not assessed

Collectors Policy Deductibles as Low as $0

Provide inflation protection


Projects must be reported and scheduled within 30 to 90 days of acquisition

You are responsible for maintaining your own inventory, which you must provide during the claim

If you're looking for a company that understands the stories behind your sports memorabilia, look no further than Collectibles Insurance Services. Founded in 1966 by collectors, CIS has established the broadest loss insurance policy in the sports memorabilia market. Policies are supported by AM Best ratings of A (Excellent) in all 50 states.

3 Their sports memorabilia insurance must be purchased separately, not as a supplement to other policies. It provides coverage for accidental breakage, burglary, fire, flood (except Zones A and V), lost mail, natural disasters, theft and other causes not expressly excluded from the policy.

Generally, CIS is not required to schedule or evaluate sports memorabilia, although items or sets valued over $25,000 must be scheduled. They also have the option to purchase insurance for collectibles kept in public storage facilities.

The collector's policy deductible starts at $0, and users can get insurance for the market value of their items and get charged for any damage over $50.

Collectibles Insurance Services has a customer service center that can answer questions and process claims over the phone, and you can also send an email or get a quote from their Contact Us page.

best value

MiniCo Insurance Compan

MiniCo Insurance Company

With MiniCo Insurance, people can insure their collectibles up to $1 million in full collectible value, with competitive premiums, a $0 deductible, and no evaluation during the application process, making it collectibles insurance best value option.


$1 million policy maximum (higher limits also available)

Competitive premiums and $0 deductible

Insure the full value of the collectible

Online Quotation Tool


Jewelry/watch items over $50,000 require an appraisal

MiniCo Insurance provides value to their policyholders by insuring collectibles at the highest collectible value above their competitors, with no deductibles and no appraisals, which is why they get the best value.

MiniCo's partner AXA XL, established in 1974, is a provider of professional insurance products and publications, rated A+ (Advanced) by AM Best.

4 Today, they offer professional and casualty insurance products for over 100 collectibles in all 50 states.

The online quoting tool can be done in less than a minute. Deductibles start at $0 and monthly premiums range from 0.5% to 2% of the market value of the covered item.

When a disruptive event occurs, policyholders should contact MiniCo's Director of Claims Management and Loss Control Services, preferably by phone or email for the quickest response. An adjustment specialist will contact the policyholder to collect all relevant documents and resolve the claim on mutually agreed terms.

Users can contact MiniCo by email, phone or by filling out a quotation on its website.

best custom

The ability to adjust insurance policies with riders who can combine blanket coverage with itemized is the reason many collectors turn to Anda Insurance when they need customization.


Customizable policies, from mixed blanket coverage to itemized items

Pay market value for claims

Provide users with a variety of online and mobile tools

Free Assessment Requirements


Very large company so service won't be personal unless you work with a local agency

No online quotation process

When you need customized collectibles insurance, Anda's extensive range of insurance products gives them an edge over smaller companies, potentially blending the features of one policy with those of another.

Founded in 1882, Chubb is the world's largest publicly traded property and casualty insurer and one of the oldest. It currently operates in over 54 countries and territories, offers insurance in all 50 states, and is rated A++ (Advanced) by AM Best.

Chubb is only required to evaluate the following:

A single piece of jewelry worth $100,000 or more

Artwork valued at $250,000 or more

Collectibles worth $50,000 or more

Outside of these three parameters, companies only need detailed descriptions and estimates.

In addition to collectibles, consumers can also get home, auto, travel, liability insurance, natural disaster insurance, and customization. The agent can also combine different insurance policies for each customer to provide comprehensive protection at market value

source content: investopedia thise website.

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