Does insurance cover cigars?

[Blueface]

Originally Posted by The Mum

especially Cubans

Folks keep saying that.
Remember, nothing illegal about pre-embargo Cuban Cigars (wink, wink, wink).
They are perfectly fine to own (wink, wink, wink).
So, if you have all pre-embargo cigars (wink, wink, wink) you have no care and are most likely covered, unless your policy specifically excludes it under personal contents.
How do you prove you had them? Photos. You don't keep receipts (wink, wink, wink).

[RPB67]

Everything LEGAL in your home is covered under your insurance policy under the personal property section.

No illegal property can or will be covered.

[catfish]

If I remember right I think that Brad Paisley had a song out about his cigars burning up in a fire (one at a time), and him trying to get rembursed from the insurance company. I think that the album was "mud on your tires".

[Smoked]

It looks like I have some pictures to take tonight. At the very least it would not hurt to try if anything should happen to them. Perhaps I should get myself a humisafe.

[schnell987]

I assume that you may need to secure an insurance rider to cover any high-value collection (similar to a jewelry rider). Is this correct?

Thanks in advance for your help.

[Blueface]

Originally Posted by schnell987

I assume that you may need to secure an insurance rider to cover any high-value collection (similar to a jewelry rider). Is this correct?

Thanks in advance for your help.

Only your policy will answer this.
In your policy, it specifically states what items are considered collectibles.
It further identifies the maximum limited coverage that will be provided for certain items, such as furs, jewelry, stamps, guns, etc.
If the coverage is not specifically limited in dollar amount, then the total limits of your contents is applicable to any one or many items.
If the item is specifically limited in coverage amount, then yes, a rider is then a possbility, if offered by your carrier.
Generally towards the end of this area of your policy, you will also find "exclusions", which could possibly take away any coverage provided in the "what we cover" section.

[schnell987]

Great answer...thanks my friend!

[BigDawgFan]

Originally Posted by Blueface

Only your policy will answer this.
In your policy, it specifically states what items are considered collectibles.
It further identifies the maximum limited coverage that will be provided for certain items, such as furs, jewelry, stamps, guns, etc.
If the coverage is not specifically limited in dollar amount, then the total limits of your contents is applicable to any one or many items.
If the item is specifically limited in coverage amount, then yes, a rider is then a possbility, if offered by your carrier.
Generally towards the end of this area of your policy, you will also find "exclusions", which could possibly take away any coverage provided in the "what we cover" section.

I had to get "EXTRA" coverage for jewelery and other collectibles in addition to my normal homeowners policy - don't know if that helps.

[K Baz]

Extra coverage is usually needed if you policy has a limit. Here in my area you are allowed to have $ 6,000 in jewllery total no one item in excess of $ 3,000. The policy is very specific therefor if you want coverage in addition to this you must have a "rider"

Cigars todate have no avalibel rider in my area. Probably for 3 reasons:

1. They are not "targeted" by thieves i.e. jewellery, furs, rare books
2. There is not a large value in a compact item i.e. to steal a $ 10,00 ring
3. They are not, for the most part, difficult to replace

Now your going to tell me that it is hard to find a 1980 BGM and they are expensive but the insurance company is going to give you replacement cost that means your 1980 BGM will be replaced with a 2007 BGM. In the event that there were no more BGM then you would be asked to purchase something of like kind and quality.

So long story short no need for a rider yet however if we see losses of large collections of vintage smokes and they have issues settling the claim we may see the need for a cigar rider.

PS there is, or I here of, rare wine policies so maybe the providers/underwriter that offer this policy will step up and offer a rare cigar policy.

[Blueface]

Originally Posted by K Baz

Extra coverage is usually needed if you policy has a limit. Here in my area you are allowed to have $ 6,000 in jewllery total no one item in excess of $ 3,000. The policy is very specific therefor if you want coverage in addition to this you must have a "rider"

Cigars todate have no avalibel rider in my area. Probably for 3 reasons:

1. They are not "targeted" by thieves i.e. jewellery, furs, rare books
2. There is not a large value in a compact item i.e. to steal a $ 10,00 ring
3. They are not, for the most part, difficult to replace

Now your going to tell me that it is hard to find a 1980 BGM and they are expensive but the insurance company is going to give you replacement cost that means your 1980 BGM will be replaced with a 2007 BGM. In the event that there were no more BGM then you would be asked to purchase something of like kind and quality.

So long story short no need for a rider yet however if we see losses of large collections of vintage smokes and they have issues settling the claim we may see the need for a cigar rider.

PS there is, or I here of, rare wine policies so maybe the providers/underwriter that offer this policy will step up and offer a rare cigar policy.

I was going to mention that I don't believe standard companies will offer cigar riders, as I know mine doesn't.
However, there are many specialty carriers out there that will bind specific riders only, with no other form of insurance or coverage with them.
I would bet someone is willing to take on that risk.
I would bet a company such as perhaps Lloyd's of London has issued policies like this to major collectors/businesses.
Heck, stars insure body parts. That is crazier than cigars.

Just want to mention that RC (replacement cost) is not a given.
Many policies are written as ACV (actual cash value) which means you get the cost to replace it at today's price, for LKQ (like kind and quality) less depreciation for the use/life that has been exhausted.
All depends on one's specific policy.