Last month, Collectibles Insurance shared some information about who handles our claims. They thought you might be interested in more details about the claims themselves. These stats are based on 2009 claim numbers since Collectibles Insurance are still receiving claims for 2010.
* (About) 38 claims are reported per month
* 75% of claims were paid
* 11% of claims were withdrawn by the customer (usually because the item was located)
* (Only) 13% of claims were declined
Although Collectibles Insurance insures far more collectors than dealers, only 46% of claims were for collectors, of which 81% were paid, 9% were withdrawn by customer and only 9% were declined.
The most common collector claim is breakage followed by shipping loss/damage, theft, transit (moving), mysterious disappearance (which means they lost it and that is not covered), water damage, fire, and yes, they had a few earth quake claims this year. Amazingly there were no hurricane claims in 2009.
So rest assured, when disaster strikes, your claim will be handled efficiently and fairly.
For more than 40 years Collectibles Insurance has provided affordable protection for all types of collections. Visit www.CollectInsure.com today to get an instant quote and application, or call 888-837-9537 Monday – Friday 8:30 - 5:00 ET to speak with one of their knowledgeable consultants.
And rest assured knowing that you’re ready for whatever "little surprises" lie in store.
When calling or completing an application, be sure to indicate you are a member of Figures.com in order to receive 5% off your first term premium.
Since 1966, Collectibles Insurance Services has been "insuring today's treasures from tomorrow's tragedy." As a company founded by fellow collectors, we understand that your collection is worth so much more than just money. And as experts in collectibles insurance, we know standard homeowners insurance alone isn't enough to replace your treasures.
