Tell me about insurance for your knife collection

[MadeinUSA]

I have insurance for my firearm collection

Is insuring my growing knife collection about the same? (Compare prices and terms and policies and pick one)

Anything special I should know about insuring a knife collection?

[dlr110]

I looked into it a few years back and didn't find it worth doing especially if you have enough coverage
on the "contents" of your house. There will probably be a lot of varying opinions.

[Samb]

I use a 12 gauge Remington. I guess if you can beat it you can have the knives.

[ken98k]

I use a 12 gauge Remington. I guess if you can beat it you can have the knives.

That only covers theft, not flood or fire.

[Sharpnshinyknives]

On our house insurance we have to itemize the items for insurance purposes on my knife collection. I use to carry it when it hit a certain value but don’t anymore. I buy, sell and trade so much that it’s a pain to keep track of. If you are planning on buying and holding onto them then it could worth your while, otherwise it might not be.
Our home owners insurance does not cover collectibles like knives, they have to be itemized. Too much room for abuse by home owners to claim something is stolen when it isn’t. Home owners insurance doesn’t cover cash or gold and silver either. It pays to read the small print in your policy.
I rely more on my three guard dogs and Sig Sauer and Ruger now.

[MadeinUSA]

My homeowners policy won’t cut it … too many restrictions and small limits

Therefore I have a separate policy (from a different company) for my firearms. I just had to specify an aggregate amount for my firearm policy… I don’t have to itemize any unless an individual firearm is valued over $2500

I’ll probably do the same for my knofe collection… I’ll just pick a company/policy that covers an aggregate amount I want to cover for the knives… I won’t have to itemize and it allows me then to buy sell and trade frequently.

[Mumbleypeg]

This company specializes in insuring collectables. https://collectinsure.com/ You tell them what you collect and how much coverage you need. They give you a quote. If no single item has a value over $25000, it’s as simple as that. Several here use them.

Regarding your homeowner’s insurance you need to check with your agent but most companies will require a policy rider (with the associated premium $) and some kind of proof (an appraisal for example) of the items’ value.

Ken

[peanut740]

Go buy a good gun safe.

[Railsplitter]

I've had my collection insured through the company that Ken linked above for about 12 years. I often spend more on one knife than I spend on my annual premium and the coverage is better than average because it covers your collectibles outside of your home as well as inside.

[Ridgegrass]

I also have "Collectibles Insurance". No itemization necessary unless an item is over $2000. Between my guitars, my son's guitars and my knives it's $40.000 coverage for less than $300/year. They do recommend you have photos of everything. MY homeowners specifically eliminates collectibles and wanted riders on everything and at a very high rate per thousand
At today's knife prices, I think it's well worth the cost of insurance. Good luck. J.O'.

[MadeinUSA]

This company specializes in insuring collectables. https://collectinsure.com/ You tell them what you collect and how much coverage you need. They give you a quote. If no single item has a value over $25000, it’s as simple as that. Several here use them.

Regarding your homeowner’s insurance you need to check with your agent but most companies will require a policy rider (with the associated premium $) and some kind of proof (an appraisal for example) of the items’ value.

Ken

Similar to the group from whom I have my firearms insured… same drill… pick an amount, get a quote

[Reverand]

Go buy a good gun safe.

As a safe & vault technician, I agree about a gun safe - but with a few caveats:

1) get a good one. It needs to have a good fire and burglary rating. Fire rating especially. You really DO get what you pay for, so don't settle for a $200 gun safe.

2) set a real combination and be careful whom you share that with. Do NOT use 123456.

3) BOLT IT TO THE FLOOR! I don't care how heavy it seems, if two guys installed it with a set of hand-trucks, then two thieves can remove it the same way.

[Samb]

I use a 12 gauge Remington. I guess if you can beat it you can have the knives.

That only covers theft, not flood or fire.

If I'm in a fire or flood my knives will be the least of my worries.

[Ripster]

Interesting feedback here . 4 years ago we lost our home and 90 percent of our belongings. It was a cold January night and was snowing ,which hampered the volunteer fire department from getting on scene quickly. Long story short ,you never think it’ll happen to you! And my priority that night was Not my guns ,knives,etc. The next day was a sad affair , and the process of what to do took time . We’ve since built a better house and are doing fine . The knives and guns and coins ,etc were in one room ,some in a safe ,some in cigar boxes,etc. . The heat did the worse damage and many dollars worth of stuff was junk . You don’t think it’ll happen ,but everyday it does. If you value any of your investments, you ought to do something . We now have Fire rated safes with combination locks,not electric ones either. One good Safe is Well worth the money !

[MadeinUSA]

While my firearms are in safes… my knives are displayed on shelves in my shop

Hence insurance to cover fire damage is essential for me

I agree that during an emergency that “things” are not the priority… which means insurance is even more important in my case (not using fire rated safes for knives)

Glad it sounds like you, JP, and your loved ones were not injured and you recovered, economically, as well as could be expected