Comic Book Insurance - Should I Insure My Comic Book Collection?

If you are a comic collector and have a substantial amount of money invested in a few select comics, then insurance is a necessity....especially if these comics are rare, hard-to-find or top-of-the-line Golden Age or Silver Age vintage comics. On the other hand, if your own several hundred or thousand comics that are worth only $l-$3 each, it may not be very practical or cost-effective to insure them.

It is possible to get insurance to cover your comic book collection loss, theft or damage. In the worst case scenario, the amount that insurance companies will pay is typically limited to just 10% of the total cover or $10,000. If you do have an extensive collection, you may have several comics and they're worth this much money, so it would be in your best interest to take out insurance on the collection.

Most insurance companies will want some sort of inventory list or record of your collection, along with an estimated worth of the comics. If you've already written up a list for your collection, with the books' conditions and prices listed, then it's an easy step to getting them insured.

If you already have a homeowner's insurance policy, your collection may be covered automatically. Still, to substantiate any claims, you're going to have to have some sort of record of the comics you own. since collectors generally buy and sell comics continuously, its' hard to keep and complete and current inventory.

For these reasons, large collections of low-value books may be more trouble to insure than they are worth.

On the other hand, if you own several comics that are worth $l00 or more, insurance against theft and damage may ease your mind. One other alternative to the insurance problem for the very expensive comics is simple to rent a bank safety-deposit box. You can store from l0 to 50 comics or more depending on the size of the box, and you know that your irreplaceable books are well protected.