To attempt a comparison of the premiums, I went to the link SIG posted for Eastern Insurance and requested a quote. I got an automated reply from Jack Richardson's email address stating they would be in touch soon. That was 3 days ago, and as yet no response. If I'm not mistaken, I remember reading in another thread that Mr. Richardson died some months ago. Apparently they do not update their website all that often. I'll report if someone from their office responds to the request for a coverage quote.
I got an email response from Laura Sewall at Eastern Insurance on 20 February. In that reply, she attached a Welcome Package with a questionnaire to be filled out for a formal quote.
The Package states that the Standard rate is $0.35 per $100 of coverage for their "all risk" worldwide coverage. It states the minimum premium is $150 for $40000 of coverage. (There must be some policy fee in that price, because .35 x 400 is $140.) It further states optional deductibles and premium discounts are available for larger collections. Further, the questionnaire states that a 5% discount from the Standard rate is given for "members of various collecting and sportsmen fraternities as well as Members of our Military." Items values at $10000 or more must be scheduled, no serial number required. It appears their policy has two separate Limits of Liability, One for Scheduled Items and one for Unscheduled Items. They ask for an estimated number of items in the Unscheduled Limit.
I will likely fill out the questionnaire to request a formal quote, but I doubt it will beat Collectors in my case. (As stated earlier, my rate at Collectors is approximately $0.279 per $100 of coverage.) One of the questions they ask is distance form the nearest fire hydrant and fire station. I live in an extremely rural area. (no hydrant within at least 15 miles and the volunteer fire department is 7 miles away.)
What is the link to " Collectors" insurance ?
Is it American Collectors ?
Otherwise I cant find it.
If its American collectors their policy quote is exactly 3 times my current Eastern insurance quote with more stipulations.
The amount I pay is .20/100 with a 50,000 unscheduled item exemption which saves a lot of screwing around. $500 deductible. Travel coverage included.
Edited by lightguy, 25 February 2019 - 03:46 PM.