American Collectors Insurance, a provider of collector-vehicle and collectibles insurance, has updated its specialty coverage for valued collections with a more comprehensive, customizable coverage for a wide range of collectibles, anywhere in the United States.
Coverage options are available for nearly any type of collection imaginable and collectors can choose their deductible, coverage limits, and optional coverage for shipping and occasional use.
The updated collectibles insurance program includes:
- Full collector value coverage for all qualifying collections in the household.
- Protection against accidental breakage, earthquake, fire, flood, hurricane, theft, and more.
- Coverage during shipment and occasional use (optional through the Collector’s Choice plan).
- A range of eligible collectibles and collections.
- Available higher policy limits.
- Deductibles ranging from zero to $5,000.
- Premium discounts for central station alarms, vault storage, club memberships and for high-value collections.
“Collectors make up a huge segment of the American population. Collectibles are the number-one-selling category on auction site eBay.That means business opportunities for insurance agents,” said Laura Bergan, vice president of sales and marketing for American Collectors.. “Agents can tap into the collectibles market and open up an entirely new sales channel. Collectors want to protect their treasures, and agents can provide that protection while increasing business and capturing customer loyalty.”
Homeowners insurance often will not cover accidental breakage, nor will it cover damages or loss due to certain natural disasters such as flood and earthquake, says Bergan. However, many collectors do not appreciate the limits of their current coverage until after they have a claim.
“Independent agents and brokers need to make collectors aware of coverage gaps and provide choices. When discussing homeowners coverage, all agents have to do is ask the question: ‘Do you collect any items that have a high value or are of significant importance to you?’ That can open doors to greater loyalty and add-on sales.”
American Collectors now covers a more collectibles, including but not limited to:
- Advertising and movie memorabilia and animation art
- Auto memorabilia
- Books, comics, comic art and trading cards
- Coins and stamps
- China, crystal, glass and collector plates
- Die-cast cars, toys and action figures
- Dolls, figurines, miniatures and doll houses
- Juke boxes, radios and arcade games
- Model trains and layouts
- Musical instruments
- Sports memorabilia
- Teddy bears
- Wine and accessories