Insurance and Sports Collectibles

[Bean]

I figured that a site dedicated to the Flames and hockey with a knowledgable following would be the best place to ask this question:

I'm sure that many of you have prized possessions and sports memorabilia at home that may be on display and such. With the recent amount of rain and house damage lately, how does insurance cover sports collectibles from something like this?

I guess as an example could be:
Yes Mr. Adjuster, I have this jersey that Martin Gelinas signed, but the rain washed the signature off. Here is the COA.

edited for the example.

[Frank the Tank]

I think their standard operating procedure would be to screw you around until you give up. Then jack your monthly rate through the roof. I love insurance companies.

[Cheese]

Originally posted by Frank the Tank@Jun 23 2005, 02:00 PM
I think their standard operating procedure would be to screw you around until you give up. Then jack your monthly rate through the roof. I love insurance companies.

nah Frank...they wouldnt screw you around before jacking rates...theyd just do it because you called them and bothered them.

[Frank the Tank]

Originally posted by Cheese+Jun 23 2005, 01:02 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Cheese @ Jun 23 2005, 01:02 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-Frank the Tank@Jun 23 2005, 02:00 PM
I think their standard operating procedure would be to screw you around until you give up. Then jack your monthly rate through the roof. I love insurance companies.

nah Frank...they wouldnt screw you around before jacking rates...theyd just do it because you called them and bothered them. [/b][/quote]
True story:

While living with the parental units, a windstorm rips the solar heater for the pool off of our roof. Destroyed beyond recognition. Trashed our roof. Dad and I fix the roof ourselves and he claims the solar panels through insurance. Three months later, lightning strikes our chimney and it EXPLODES. I'm talkin' a good 15 feet of chimney are obliterated. Bricks EVERYWHERE. On the street, in the pool (the bulk of them), in the neighbours backyards. It was insane. So we claim that and get someone out to fix it. One month later, the insurance company calls and cancels my parents policy because they had two claims within 6 months. So after 15 years with no claims, my parents were turfed. You should have heard the phone call my father made.

[Cheese]

Originally posted by Frank the Tank+Jun 23 2005, 02:16 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Frank the Tank @ Jun 23 2005, 02:16 PM)</td></tr><tr><td id='QUOTE'>

nah Frank...they wouldnt screw you around before jacking rates...theyd just do it because you called them and bothered them.

True story:

While living with the parental units, a windstorm rips the solar heater for the pool off of our roof. Destroyed beyond recognition. Trashed our roof. Dad and I fix the roof ourselves and he claims the solar panels through insurance. Three months later, lightning strikes our chimney and it EXPLODES. I'm talkin' a good 15 feet of chimney are obliterated. Bricks EVERYWHERE. On the street, in the pool (the bulk of them), in the neighbours backyards. It was insane. So we claim that and get someone out to fix it. One month later, the insurance company calls and cancels my parents policy because they had two claims within 6 months. So after 15 years with no claims, my parents were turfed. You should have heard the phone call my father made. [/b][/quote]
yep ive heard many similar stories. They love you as long as you pay without ever ever having to call them for anything.

[Bean]

So as I understand it, it is better to just avoid the increased premiums and not report the items in the home to risk the loss of one's personal collection.

The reason why I posted this topic was to see if any insurance companies would offer replacement value for a hard to find item or just reimburse the amount of money that was originally paid for it.
ie. situation of a $2,000 item purchased for say $500.

It isn't that I have anything worth that much, just wanted to hear of others' experiences. (hopefully nobody has lost anything of value to them)

[Cowboy]

Here is another example of how bad Insurance Companies are
I had a friend who had sewer backup late last friday night around a 11:30, they reported a claim, and my God it took the girl, who was at home, nearly 20 minutes to get back to them...
The nerve of them, 20 minutes....
And then she told them that they were covered. Terrible Terrible Terrible.

You know, unfortunately Insurance only ever is talked about when they have done something that people don't agree with, no one ever talks about what Insurance does for them when they do something good. But that won't change. Insurance is a big factor in driving the economy, and that won't change either.

[Tiger]

just my opinion and someone can correct me if I'm wrong

but no company can be run ethically if it is a profit based company!!!
my opinion is insurance, banking, etc (Basically services that are pretty much manditory to have) should all have to be non-profit companies.

Honestly it does make me sick when I see an insurence company or a bank making $100000000+ profit in a year, and yet they try to get out of paying people so many times.

[Cowboy]

If insurance is such a rip off why don't you invest in a mutual company that only has property/casualty underwriting markets (the kind you are talking about). You never mentioned oil companies, they make a killing. They are as compulsory as having insurance. You are only required to have insurance if you are driving a car and therefore consuming oil. Not to mention natural gas for heating.

You also haven't mentioned the insurance companies that have closed their doors.