Buy Collectibles Memorabilia Store Insurance

Or call for your free quote:

Get the best small business insurance quotes online & info on cost, coverage, minimum requirements, certificates & more.

Collectibles Memorabilia Store Insurance Policy Information

Collectibles Memorabilia Store Insurance

Collectibles Memorabilia Store Insurance An autographed Mickey Mantle baseball, or that rare Michael Jordan signed rookie card can easily sell for thousands of dollars. Not only these, but other collectibles and rare memorabilia you sell in your shop, are valued at hundreds of thousands of dollars.

For the business owner who is selling these high valued items, which are rare, collectibles, and possibly only exist in very limited quantities, you need to have the right collectibles memorabilia store insurance policy in place

Collectibles memorabilia store insurance protects your shop from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.

Below are some answers to commonly asked collectibles & memorabilia stores insurance questions:


What Is Collectibles Memorabilia Store Insurance?

Collectibles and memorabilia store insurance is a type of insurance coverage designed for business owners who operate stores that sell collectible and memorabilia items. This insurance typically provides protection for the store's inventory, including valuable items such as rare coins, stamps, comics, sports memorabilia, and more, against risks such as theft, fire, and other perils.

It may also provide coverage for loss of income if the store is forced to temporarily close due to damage from a covered loss, as well as liability coverage for third-party claims.

How Much Does Collectibles Memorabilia Store Insurance Cost?

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small collectibles and memorabilia stores businesses ranges from $37 to $59 per month based on location, type of goods sold, payroll, sales and experience.

Why Do Collectibles & Memorabilia Stores Need Insurance?

Collectibles and Memorabilia stores need insurance for several reasons:

Protection of Inventory: Insurance helps to protect the store's valuable inventory from theft, fire, flood, and other types of damage.

Liability Coverage: In the event that someone is injured on the store's premises, liability insurance can help to pay for their medical expenses.

Loss of Business: Insurance can help the store recover if it has to temporarily close its doors due to a covered loss, such as a fire or flood.

Protection of the Store: Insurance can help to pay for repairs or replacement of the store's physical structure, such as its walls, flooring, and fixtures.

Loss of Customers: If the store's reputation is damaged, such as by a false advertising claim or a breach of contract, insurance can help to pay for the costs associated with repairing that reputation.

In conclusion, Collectibles and Memorabilia stores need insurance to protect their valuable inventory, customers, and business operations, and to mitigate the financial risks associated with running a store of this type.

What Types Of Collectibles Memorabilia Store Insurance Do I Need??

In choosing the insurance provider for your shop, it is important to know what coverage they provide. Consider some of these collectibles memorabilia store insurance coverage options and terms when choosing your policy:

  • Damage (by fire, flood/water, or other natural disasters).
  • Loss (due to burglary or theft).
  • Accidental breakage, for items which are fragile or extremely old.
  • Loss in the mail (if customers order items online of high value, which are lost or stolen in transit).

It is imperative that the insurance provider you choose for the collectibles memorabilia store insurance coverage not only protects against all possible complications, loss, or damage, but also provides higher than average deductibles for such items as well.

Since you are dealing with rare, hard to find, limited collector's items, it is extremely likely that some of these items are valued at $10,000, or higher. You want to know you are fully protected, and will salvage the funds, in the event something goes wrong.

Optional Coverage Options

Baseball Memorabilia

When choosing the collectibles memorabilia store insurance policy, business owners also have to consider other problems which can arise. For example, if you are attending a trade show to promote or try to sell collector items, does the insurance provider offer travel insurance?

This not only covers the value of items which are lost during transport, but ensures that when they are temporarily away from the store or online site, they are fully protected.

In addition to travel coverage, exhibition coverage is another optional policy coverage addition to consider adding to protect collectibles. This covers for the cost of shipping and the value of items, up to the date/time of the exhibition show or event, in the event items are lost, stolen, or otherwise damaged.

Again, if you aren't personally transporting these high valued items, if things go wrong, this will shield you from a huge financial loss/burden.

Storage facility coverage is another optional policy term to consider adding when choosing collectibles and memorability store insurance protection. If collectibles are kept in a public storage facility, they are also protected to a certain value (depending on how much you choose to purchase when adding this policy term to your insurance).

Depending on the value of collectibles, what is being stored, and the security of the facility, ever store owner is going to choose varying levels of coverage to shield their high priced, rare collectibles while they aren't in the store.

It is also important to consider the possibility of cyber crime or theft. If you sell items online as a business owner, then you might want to consider investing in online/cyber policy coverage as well.

If a customer's credit card information is stolen, if your site is hacked and issues arise with the sale/transaction, or if anything else goes awry, you and your customers are going to be protected from such breaches.

For this reason it is important to understand coverage options, how much you are protected (value) online, and what protections are afforded to your customers who choose to purchase collectibles from your online store, as opposed to the store front where you sell items.

Compare Insurers Before Purchasing

When purchasing collectibles memorabilia store insurance, business owners should go through insurers which specialize in rare, collectible, or limited coverage policies. Not only will they offer more optional coverage terms from which you can choose, but also understand the industry, so will provide you far better protections for your business.

What Does Collectibles Memorabilia Store Insurance Cover & Pay For?

Collectibles Memorabilia Store Insurance Claim Form

Collectibles and memorabilia stores can face various legal challenges that may result in lawsuits. Some of the reasons collectibles and memorabilia stores may be sued include:

Authenticity disputes: Collectibles and memorabilia, such as sports memorabilia, autographed items, and rare coins, can be subject to authenticity disputes. If a customer claims that an item purchased from a collectibles memorabilia store is not genuine, they may file a lawsuit against the store. In such cases, insurance coverage such as Errors and Omissions (E&O) insurance, also known as Professional Liability insurance, can provide protection. E&O insurance can help cover the legal costs associated with defending against the authenticity dispute lawsuit and potentially pay for damages awarded to the plaintiff if the store is found liable.

Product liability claims: Collectibles and memorabilia stores may face product liability claims if a product sold by the store causes harm or injury to a customer. For example, if a customer purchases a vintage toy from a collectibles memorabilia store and sustains an injury due to a defect in the product, they may file a product liability claim against the store. Product liability insurance can provide coverage in such cases, helping to pay for legal defense costs and potential damages awarded to the plaintiff.

Property damage or theft: Collectibles and memorabilia stores often have valuable inventory, and they may face lawsuits related to property damage or theft. For example, if a store's inventory is damaged due to a fire, flood, or other covered peril, or if items are stolen, the store may file a claim with their property insurance to help cover the cost of the damages or stolen items.

Slip and fall accidents: If a customer or a third party is injured on the premises of a collectibles and memorabilia store due to a slip and fall accident, they may file a premises liability claim against the store. General liability insurance, which includes premises liability coverage, can help protect the store by covering the legal costs and potential damages associated with such claims.

Employment-related disputes: Collectibles and memorabilia stores may face lawsuits related to employment-related disputes, such as wrongful termination, discrimination, or harassment claims filed by current or former employees. Employment practices liability insurance (EPLI) can provide coverage in such cases, helping to pay for legal defense costs and potential damages awarded to the plaintiff.

Insurance can play a crucial role in protecting collectibles and memorabilia stores from financial losses associated with lawsuits. It can help cover legal defense costs, including attorney fees, court costs, and settlements or judgments awarded to plaintiffs. However, it's important to note that insurance policies may have limitations, exclusions, and deductibles, so it's essential for collectibles and memorabilia store owners to carefully review their insurance coverage and consult with their insurance provider to ensure they have adequate protection for their specific needs.

Commercial Insurance And Business Industry Classification


Description for 5932: Used Merchandise Stores

Division G: Retail Trade | Major Group 59: Miscellaneous Retail | Industry Group 593: Used Merchandise Stores

5932 Used Merchandise Stores: This industry includes stores primarily engaged in the retail sale of used merchandise, antiques, and secondhand goods, such as clothing and shoes; furniture; books and rare manuscripts; musical instruments; office furniture; phonographs and phonograph records; and store fixtures and equipment. This industry also includes pawnshops.

  • Antique stores-retail
  • Book stores, secondhand-retail
  • Building materials, used-retail
  • Clothing stores, secondhand-retail
  • Furniture stores, secondhand-retail
  • Furniture, antique-retail
  • Glassware, antique-retail
  • Home furnishing stores, secondhand-retail
  • Home furnishings, antique-retail
  • Manuscripts, rare-retail
  • Musical instrument stores, second-hand-retail
  • Objects of art, antique-retail
  • Pawnshops
  • Phonograph and phonograph record stores, secondhand-retail
  • Shoe stores, secondhand-retail

Collectibles Memorabilia Store Insurance - The Bottom Line

Before you buy, it is important to ensure you understand policy terms and coverage options. These are a few of the basics to understand, and some of the different optional coverage options to consider, when the time comes to choose an insurer and levels of coverage, for your business needs.

Additional Resources For Retail Insurance

Read valuable small business retail insurance policy information. In a retail business, you need to have the right type of commercial insurance coverage so that your store, employees, and inventory are protected.


Retail Insurance

The retail industry is a vital sector of the economy, providing goods and services to consumers across the globe. It is also a sector that is constantly evolving, with new technologies and trends emerging on a regular basis.

Despite its importance, the retail industry is not without its risks. Retail businesses face a variety of threats, including theft, damage to property, and liability issues. These risks can have significant financial consequences for retail businesses, which is why commercial insurance is so important.

Insurance can provide retailers with protection against financial loss resulting from unforeseen events. For example, if a retail store is damaged by a natural disaster, insurance can help cover the cost of repairs and help the business get back on its feet. Similarly, if a retail employee is injured on the job, insurance can help cover their medical expenses and any lost wages.

In addition to protecting against financial loss, commercial insurance can also help retail businesses protect their reputation. If a retail business is sued or faces other legal challenges, insurance can provide financial support and legal representation. This can help to protect the business's reputation and maintain customer trust.

Overall, insurance is an essential component of a successful retail business. It helps to safeguard against financial loss and protect against potential legal challenges, which can be especially important for smaller businesses that may not have the resources to absorb these types of losses.

By investing in business insurance, retail businesses can ensure that they are well-equipped to handle the many challenges that come with operating in this dynamic industry.

Minimum recommended small business insurance coverage: Business Personal Property, Business Income and Extra Expense, Equipment Breakdown, Employee Dishonesty, Money and Securities, Accounts Receivable, Computers, Valuable Papers and Records, General Liability, Employee Benefits, Umbrella, Hired and Non-owned Auto & Workers Compensation.

Other commercial insurance policies to consider: Building, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Computer Fraud, Forgery, Bailees Customers, Goods in Transit, Jewelers Block, Cyber Liability, Employment-related Practices, Business Auto Liability and Physical Damage and Stop Gap Liability.


Free Business Insurance Quote Click Here