[ Ref. Jim Leonard in 201123 MMDigest ]
Jim, I use American Collectors Insurance. The premium is very
reasonable at less than 1 percent of the collection value. Once
you set the value of the instrument, you pay based on that. It's
covered totally -- no depreciation. This is essentially like a life
insurance policy on the instrument. It will cover those that you
take to rallies, too.
There can be some long discussions with the company about "value",
as they usually want a bill of sale. Like many out there, I purchase
non-working items needing a total restoration [so] a bill of sale has
no meaning. They will work with you using appraised value or value
established from recent auctions or based on your knowledge.
A photo needs to be sent to them of the item. Items valued at over
$2000 are listed individually. The remaining are just covered under