I currently insure my collection through Collectibles Insurance Agency (CIA). I have had them insuring my collection since I moved to California. Originally, you could only get insurance through them if you were an APS member, but that changed about 10 years ago when Hugh Wood took over as the APS insurer. At the time of that change, the rates were comparable, but to go with Hugh Wood, I would have to spend an extra $40 or so a year to stay an APS member. I choose to drop my APS membership and keep my insurance with CIA.
I have never had to use my stamp insurance (knock on wood), but still think it is prudent to maintain coverage. I had no issues with CIA. Until now. I received my renewal notice in the mail yesterday, and they have tacked on a $25 Policy Fee to my renewal amount. This is about 24% of the total policy. I think this is ridiculous. So I called Hugh Wood. They can give me a policy, with no fees, for $40 less than the total renewal price with CIA. The only catch is I have to be an APS member. Membership is $45 for a year.
So, I have a choice. It will cost $5 more out of my pocket to use Hugh Wood, but I would get all the added APS benefits. Are these benefits worth $5 a year?