First of all, we are in the immediate aftermath of Hurricane Helene with more storm systems bearing down on the Southeastern U.S. People have lost their lives, loved ones, and entire households. It is important to keep some perspective as we delve into topics like collectibles insurance. But given the hundreds of recent stories of collection damage and massive loss due to the hurricane, it’s a fair time to ask: Is your vintage collection insured? And are you sure about that?

Cardhound has addressed insurance topics in the past. For example, see this article about shipping loss, which is the number one form of loss experienced by collectors. Many of the points mentioned in that article apply here as well. It is important to understand the limitations of homeowner’s and renter’s policies. With this knowledge you can be sure your valuable collection is insured against all kinds of loss.

But first, a spoiler alert, given that it is hurricane season. Even with a private collectibles policy, you may not be protected against loss due to flood / water / wind. Read on for details.

First, a Disclaimer

I’m just an English teacher–not an insurance agent or claims adjuster. Your coverage will be determined by the exact language of your policy. Talk to your agent and read your policy. Consider this article an introduction to the issues you should think about.

Get Organized

Your job is to provide evidence of value, regardless of what is covered. This documentation is likely required up front for a homeowner’s rider. In contrast, a collectibles insurer might only need the info in the event of a claim. In any case, the following is pretty basic standard practice for any items of value in your home:

• A spreadsheet or inventory of your collection
• Certification numbers for graded cards
• Recent pictures and / or video of your collection
• All available receipts or records pertaining to purchase, ownership, and value

All records should be not only on paper, but also stored electronically in the cloud and backed up periodically.

Homeowner’s or Renter’s Insurance

In the event of a flood, fire, or theft, your homeowner’s or renters’ policy probably does not cover much collectibles loss. And even if so, the sublimit is likely very low ($200 is common). So if your $100,000 collection goes up in flames or down the river, the most you will get is $200 per lost item, or whatever that collectibles sublimit is.

Collector Quote:

“We just had a flood and I lost about 60k cards, autographed 8x10s, autographed balls, frames autographed jerseys,

a bunch of original NES games complete in the box and a ton of other random stuff. Insurance is capping the cards at $2500.”

Your regular insurer may offer an additional policy or rider, but it may be expensive and cumbersome. I had a homeowner’s rider for years that covered my personal collection (which is always changing). It required a detailed spreadsheet, regular updating of values, and regular photo documentation. I ultimately decided it was a hassle to maintain and started shopping for other options.

Collectibles Insurance

Many in the hobby, including me, use CIS (Collectibles Insurance Services) for shipping insurance. This is not an ad or endorsement for CIS, and for the record, I have never had to make a claim.

CIS sells “collector” and “dealer” policies, and if shipping loss is your main exposure, pay a little extra for a dealer policy. According to my agent, “collectors” might catch flack for losses during selling, especially. Their policies are cost-effective, and their customer support is solid in my limited experience.

Like with any insurance, there are some requirements if you hope to make a successful claim. For example, a signature is required for any package valued over $400. Whatever insurance you choose, know your policy and requirements.

Now, on to the current question: do CIS policies cover flooding, wind, and hurricane damage in general?

Are Hurricane Losses Covered?

CIS suggests that loss caused “by floods, hurricanes, or earthquakes” is covered when they state that this is a limitation of most homeowner’s policies. Of their policies, they state that “comprehensive coverage includes, but is not limited to: accidental breakage, burglary, fire, flood (except in zones A & V), loss in the mail, theft, natural disasters, and other causes of loss unless specifically excluded from the policy.”

My agent provided more details on this, however. The devil is always in the details. “The whole state of Florida has a water exclusion (floods, tidal waves, mudslides)” as well as “a wind exclusion (hurricane, tornado).” You may be eligible to purchase separate wind coverage if you live 25 miles inland. Exclusions might apply to other coastal areas not in Florida, based on flood zone status.

As always, read the fine print–and if you are in a flood zone, you might consider storing your collection in a location that is eligible. You could also consider vault services such as is offered by PSA.

Knowledge is Power!

Again, if this column can be construed as “advice” let’s be clear: my advice is to talk to your agent or prospective agent / company, and ask loads of questions such as:

• Is coverage comprehensive? What is excluded? (wind, flood, hurricane)
• Are you in a flood zone?
• What documentation is required for a successful claim?
• What are the deductible options?
• Do you offer inflation coverage?
• Do I need collector coverage, or a dealer policy?

Review the actual policy language before signing on, and consult an attorney for advice if collectibles are a serious part of your portfolio. No one ever “expects” sudden, massive loss, but recent events are a reminder that anything is possible.