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Tue Sept 7 2021 11:27:18

Wanted: Insurance for Inventory of Vintage Costume Jewelry

By: Reader

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Dear Ina,
I am a subscriber to EcommerceBytes. I have an eBay Store, and sell Vintage Costume Jewelry, and have spent a lot of time trying to get Insurance for my store contents and have been unsuccessful.

Do you know of a company that I can contact for this? It must be for fire, theft, and earthquake. 

Thanks so much for what you do.
Leonore

Comments (7) | Leave Comment | Permalink
Readers Comments

Perminate Link for Wanted: Insurance for Inventory of Vintage Costume   Wanted: Insurance for Inventory of Vintage Costume

This user has validated their user name. by: iheartjacksparrow

Tue Sep 7 12:27:10 2021

@Leonore - Google Online Business Insurance. There are many companies that sell policies for online businesses, so I would get quotes from several. Wouldn't earthquake be covered under your homeowners' policy?

Perminate Link for Wanted: Insurance for Inventory of Vintage Costume   Wanted: Insurance for Inventory of Vintage Costume

This user has validated their user name. by: Lightning

Tue Sep 7 16:02:54 2021

@Lenore
I use a company that covers collectibles, called Collectibles Insurance Services (CIS).  They don't specifically list vintage costume jewelry as something they cover, but I am sure if you contact them that they will tell you they can.  Here is the url: https://collectinsure.com/other-collections/

You don't have to itemize your collection, unless you have a single piece or set of something that has a value over $25,000.  You just give them a total value.  A lot of sellers in the collectibles area use this company.  They also cover you during shipment, which saves money versus paying the carrier each time if needed.  You can also get extended coverage if you do trade shows.
Good Luck!  

Perminate Link for Wanted: Insurance for Inventory of Vintage Costume   Wanted: Insurance for Inventory of Vintage Costume

by: Silver Ice King This user has validated their user name.

Tue Sep 7 18:10:43 2021

@iheartjacksparrow

Just thought I would let you know that Earthquake insurance is not usually covered under your normal homeowners policy just as flood insurance usually isn't, at least that is the case in CA.  I do not know about other states but regular insurance companies in California stopped writing earthquake policies after the Northridge quake in 1994 after they had to pay out over $24 billion in claims, which was more than they had collected in premiums in the previous 30 years.  It so devastated the industry that residents of CA could not purchase any type of earthquake insurance until the State went into the business of selling and covering Earthquake insurance, but the premiums vs the payoffs are just not really worth it any longer.  The deductible on each earthquake policy is 15% of what coverage you have so since most homes are at least $300K you start off with a deductible of $45K before they pay a penny on any claim.  I do not know how the current coverage provided by the state works but when the insurance companies covered them under separate policies prior to 1994, they fought tooth and nail to exclude any and all claims that were submitted to them.  In fact there are still many claims that NEVER got settled as they just kept fighting and fighting until the homeowners eventually gave up or died.

Most insurance riders do cover damage from earthquakes though since you are insuring specific items only and a valuation is placed on each and every item.  I learned about this when I took out my first rider on the cards shortly after the 1994 quake.

Perminate Link for Wanted: Insurance for Inventory of Vintage Costume   Wanted: Insurance for Inventory of Vintage Costume

This user has validated their user name. by: iheartjacksparrow

Tue Sep 7 19:23:43 2021

@Silver Ice King - I guess I didn't explain myself very well; what I meant was I thought that earthquake was associated with homeowners' insurance (structure and contents). I live in California, and before I moved to an area that is not on the San Andreas fault, I paid for earthquake insurance for 25 years, the last several years through the California Earthquake Authority.  

Perminate Link for Wanted: Insurance for Inventory of Vintage Costume   Wanted: Insurance for Inventory of Vintage Costume

by: BobNJ This user has validated their user name.

Tue Sep 7 20:51:05 2021

I use the Collectibles Insurance Services already mentioned. You can get insurance as a collector or as a business/dealer. Very reasonable rates for collectors and as mentioned covers shipments in and out that are over a $50 minimum for me. Also covers taking items to shows, club meetings, etc. They are located in Bala Cynwyd, PA (888-837-9537) and they will usually cover almost anything collectible.

Perminate Link for Wanted: Insurance for Inventory of Vintage Costume   Wanted: Insurance for Inventory of Vintage Costume

by: 227272 This user has validated their user name.

Wed Sep 8 07:49:16 2021

I haven't used this group, and I don't know if they will insure costume jewelry, but you might want to check them out:

https://www.jewelersmutual.com/

Perminate Link for Wanted: Insurance for Inventory of Vintage Costume   Wanted: Insurance for Inventory of Vintage Costume

This user has validated their user name. by: vintagesavvydiva

Thu Sep 9 08:34:04 2021

State Farm Business Insurance



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