Baseball season is in full swing, bringing to mind ballpark hot dogs, peanuts, cracker jacks and of course home runs. Fans are pouring into stadiums day after day to see their favorite team win the game. Most fans have at least once purchased a pack or baseball cards. While most fans won’t turn into serious collectors, those that do will want to be sure their collection’s value can be replaced if lost, stolen or damaged. There are few different ways to insure your collection. You can schedule and endorsement to your existing homeowner’s policy to increase your limits. Purchasing a separate policy just for your collection is also an option.
Regardless of how you decide to extend your coverage, one thing you should do is a complete inventory of your collection. Listed below are three steps to get your inventory started. Also, it never hurts to get an appraisal. With a complete inventory and appraisal, you’ll know exactly the worth of your collection should it ever be destroyed.
- Take photos. Highlighting each card and the condition of the card. Video will work as well and may give a clearer picture of each card.
- Descriptions and details. List an estimated value of the card as well as condition and special features.
- Store the collection, any photos and description in a fire proof box or in a safety deposit box. Also, keep the entire inventory on a flash drive.
Be sure to update your inventory annually. As your collections grow your coverage should too.