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Are you ready for insurer's questions?

Guest blog from Naomi Court at PTS Member, Wardrop & Co

13th June, 2024

Are you thinking of insuring your collection for the first time, or are thinking about getting a new premium quote?

Are you ready for the questions a reputable, professional specialist insurer will ask when you reach out to them?

We're here for you. To help you prepare.

Because questions like these are important to ensure your collection (or dealer stock) will be insured correctly. Any insurance broker who is not asking such questions might not be able to provide the specialist philatelic insurance you need.

Wardrop & Co are a PTS Member and one of a small number of verified, specialist philatelic insurance service providers who can proudly showcase the PTS Shield. They have kindly shared some of the questions they might ask you at proposal stage, but they are also very happy to answer any of your questions, and share more of their experience in insuring philatelic collections if you wish to chat with them direct. You can call them (UK Office Hours) on +44 (0) 1376 563764 for a non-obligatory quote. You may will be surprised how little it costs. They seek to give you the peace of mind that, if something should happen to your collection, you at least have the monetary value to start a new one – or maybe use the money for something else! Find out more about Wardrop below!

Wardrop & Co; Questions we would ask you at proposal

  1. Have you had your collection professionally valued? This isn’t a necessity but is something we recommend so that we can ensure you have adequate cover. This should be market value (what you would get for it if you sold it today) not catalogue value.

  2. Do you keep a record of your collection? This is certainly good practice to do so, and in the event of a claim, will ensure it is settled smoothly and swiftly. This is best to send to us if possible, as the record could be lost in a fire.

  3. Where do you store your collection? – You should be mindful that certain exclusions apply, such as damp & vermin; however, this usually isn’t a problem when people have a much-loved collection which they keep stored neatly in files in the office.

  4. How much is your collection worth? - If it is over £150,000 we will stipulate the need of a house alarm and to store in a fireproof cabinet.

  5. Do you exhibit, or need to move your collection? - We include up to £15,000 of your collection in transit within the UK but, this can of course be increased if needed and Worldwide cover added with a small additional premium.

About Wardrop & Co

Wardrop & Co. Ltd. are proud members of the PTS. Wardrop & Co proudly supported Stampex at the BDC in London last year - if you attended, you might have picked up one of our postcards on the Village Green!

Wardrop & Co was founded in 1979 by John Wardrop, who had been arranging specialist insurances for philatelic and numismatic collectors and dealers for many years. Acting on behalf of Harmers Insurance Agency Ltd, whose insurance facility had originally been placed with certain underwriters at Lloyd's of London in the early nineteen seventies, by John's younger brother Tom.

In 1985, John resigned from the broking house that handled the facility and by that time, he had formed a close working and personal relationship with Bernard Harmer and Ray Haffner of Harmers of London. The Harmer family owned Harmers Insurance Agency ltd and ran it as a separate entity from the famous auction house.

On John's departure from his previous company, he received a request from Bernard Harmer and Ray Haffner to continue to act on their behalf and manage a similar facility.

Support was required from different underwriters, as his previous company continued to run their own facility, this was obtained and the vast majority of clients transferred to the new arrangement.

It was Bernard who requested John to form the new company, he and Christopher Harmer served as directors of Wardrop & Co. ltd. for the first two years of its existence, to ensure a smooth transition of the client base and goodwill, Ray Haffner remains a director to this day.

John's elder son, Chris, understudied his father for 11 years and was appointed to the board in April 2018, he has been responsible for the running of the company since his father's passing in 2019, and has grown the business by adding the Household and High Net Worth line, Dan Bates joined in 2012 and is responsible for accounts and claims, Naomi Court joined in November 2017 and is responsible for client relationships, liaison with underwriters and the LLoyd's broker, on whose behalf of Tom Wardrop, is authorised to place business.


Wardrop & Co is a specialist insurance service provider for collectables. Link to find out more:

You can see all PTS Members with contact details and links to websites on the PTS Online Member Directory.


Do you have any questions about insuring your stamps? Add them to the comments below and we will try to find an answer for you!

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