Why Your Vintage Baseball Card Collection is Worth Insuring

Do you buy box after box of baseball cards looking for your next big break? You’re not alone. It’s a hobby for millions of Americans. We look for that rare 1 out of 100 card that hold the most value. As our collection grows, we start to think about properly protecting for our growing hobby.

If you’re sitting at home and sorting your collection by team, decade, importance, and value, chances are your collection now has significance. Looking at a collection filled with rookie cards, or one with rare and valuable cards like a 1914 Baltimore News Babe Ruth valued up to $500,000, you know it’s time to ensure you have protection.

With a potential of hundreds of thousands, if not millions of dollars present in your baseball cards, their fragility, scarcity, and value is reason enough to have them insured.

How do you determine the value of a baseball card collection?

You can have thousands of cards to sort through, but most of them probably don’t have any value. A regular set of Topps cards produces thousands of each card, making them worth virtually nothing. However, those rare (numbered, autographed, rookie, inserts, piece of memorabilia) cards should be sent to PSA (Professional Sports Authentication) for proper evaluation and certification.

Your cards will be graded and given a relative number. The numbers represent its condition. The better condition (no rips, bent edges, and original gloss), the more favorable your certification will be—and the more valuable. A number 10 is Gem Mint condition, the best of the best, while a 1 is Poor with a number of damages and defects.

Once you have the certification, you can determine if that particular card is worth true value or the value decreases due to its condition. Be realistic when valuing your cards.

Reasons that Insurance is the Right Move

Your cards are fragile. You could keep them in a safe place in the house, but does that ensure its protection? There is always a chance of fire or water damage to your cards. Not to mention, the numerous reports of stolen cards and collections! With homeowners insurance, your prized collection might not be sufficiently covered. With an American Collector’s policy, you’ll be protected against perils not typically covered by a Standard Homeowners policies.

The homeowner’s policy will provide certain coverages when there is damage that occurs inside the house, but our specialized collector’s policy protects your collection far beyond damage that occurs in the home. Coverage is afforded to your cards if damage happens:  away from the property, in transport, or even if their stolen from a vehicle. Plus, new additions to your collection are automatically covered up to $2,000 for 30 days from the date of purchase.

One more helpful Tip

Keep an Inventory of your collection!  We recommend taking photos and/or videos to capture your total collection. You can also create an Excel spreadsheet itemizing what you have.  Then keep a copy of your inventory in a safe deposit box or secondary location. Most importantly, ensure you have the proper coverage to protect your cards.

To learn more about the best way to protect your Baseball collection, or any other collectibles in your home, contact one of our Collector Insurance Specialist at: 1 (800) 620-9223.