Insurance for sport cards?

Question

My best friend's entire sport card, basket ball cards etc.. was stolen all of it

The insurance company wont pay him becouse he doesnt know exactly what cards he had soooo how would you catalog like 10,000 cards

Answer 1

First off, most homeowner's policies have a limit to how much they'll pay for collections such as sports cards. To be properly insured they need to be cataloged, appraised, and a separate rider placed on them for the appraised amount.

Secondly, even if there wasn't a limit how do you expect the insurance company to know what he had and how much to pay. That's like going to your boss and telling him that you want to be paid for last week but you don't know how many hours you worked.

Answer 2

Sorry for the loss.

The only real answer is slowly. If you have something of value you need to catalog the item including an appraisal in many cases. I have several hundred old comics and they are not worth much. I know someone else that has a lot of old comics that are worth a great deal.

Once you have the appraisal, you need to have the items scheduled on your insurance by your agent. Just because you now have proof and value, you still need coverage.

This doesn't help much after the fact, but good luck in the future.

Answer 3

If your friend had 10,000 cards, he probably had a lot of "commons".  Those can be photographed and listed as common cards.  Usual value is less than $.05 each.  Cards that hold specific values should be listed, photographed and graded by a professional.  Their value can then be easily determined.

As has already been stated, most insurance policies place a limitation on the amount they will pay for collectibles, unless they are scheduled.  If the value exceeds the policy's stated limits, then an additional premium will need to be paid to cover them.