A single PSA 10 can be worth more than a car. Yet most collectors don't insure their collections. Here's how to protect your investment.
Homeowner's/Renter's Insurance
Most policies cover personal property but have low limits for collectibles ($1,000-2,500 typically). You'll need a scheduled personal property rider to cover valuable cards at their appraised value.
Specialized Collectibles Insurance
Companies like Collectibles Insurance Services (CIS) and Hugh Wood offer policies specifically for trading cards. Premiums typically run $10-15 per $1,000 of coverage annually — very affordable for the protection offered.
Documentation is Key
Photograph every valuable card, keep purchase receipts, and maintain a spreadsheet of your collection's value. Graded cards have built-in documentation via the grading company's database. For raw cards, detailed photos from multiple angles are essential.
When to Insure
Once your collection exceeds $5,000 in value, insurance becomes a smart investment. The cost is minimal compared to the risk of theft, fire, or water damage.