Haris Ashley
Funko Pops are highly collectible, with some rare figures fetching thousands on the resale market. Collectors often focus on specific types of Funko Pops, making it easy to create a customised collection that suits their taste. While it's hard to determine which Pops will increase in value over time, some collectors view their collections as an investment. As such, it is worth considering insurance for your collection, especially if it includes rare pieces worth thousands of dollars. Homeowner's or renter's insurance may cover the replacement cost of your collection in the event of a disaster, but it's important to check with your insurance provider, as some companies don't include collectibles under their policies or only cover them for the MSRP, not the market value. If your collection is valuable, you may need to consider separate insurance for it.
| Characteristics | Values |
|---|---|
| Rare or limited edition Funko Pops can be valuable | Thousands of dollars |
| Collectible insurance is required for valuable collections | |
| Homeowner's insurance may not cover the collectible value of Funko Pops | |
| Renters insurance is also available for Funko Pops | |
| Policies can cover theft, damages, and other incidents | |
| Funko Pops can be a good investment | |
| Funko Pops are inexpensive and easy to collect | |
| Funko Pops can be displayed outside of their boxes |
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What You'll Learn
Rare Funko Pops can be valuable
While some Funko Pops are worth only a few hundred dollars, others can be extremely valuable, with prices soaring into the thousands. The value of a Funko Pop figure depends on various factors, including rarity, exclusivity, and limited edition runs.
The Metallic Blue Batman Funko Pop from the 2010 SDCC, for instance, is highly coveted due to its limited release of just 480 pieces. This exclusivity, coupled with the figure's attention to detail, makes it a desirable addition to any collection, commanding a price of over $3,000. Similarly, the 2013 SDCC exclusive Clown Dumbo Funko Pop, limited to only 48 pieces, is a rare find that adds a unique touch to any collection.
Some of the most expensive Funko Pops are variants of the Freddy Funko character. The Freddy Funko (Black Suit), released as an exclusive limited edition for the 2013 San Diego Comic-Con, is valued at $12,390. With only 12 of these figures produced, their rarity significantly contributes to their value. Another notable variant is Freddy Funko/Count Chocula (Glow in the Dark), valued at $10,000. This Funko Pop was introduced in 2011 and quickly became a rare collectible, showcasing the value that can emerge over time for certain figures.
Other rare and valuable Funko Pops include the Chief Jim Hopper gold version from Stranger Things, with only 40 units available, and the Mr. Incredible in a blue suit, with a value of $1,300 and a limited release of 480 units.
The demand for these figures highlights the potential value of rare Funko Pops. Their limited availability, combined with their significance to collectors, results in substantial price tags. Therefore, if you own rare Funko Pops, it may be prudent to consider insurance, especially if your collection is substantial or contains pieces worth thousands of dollars. Separate insurance policies can be obtained for extremely valuable collections, providing peace of mind and ensuring coverage in the event of unforeseen circumstances.
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Homeowner's insurance may not cover collectibles
If you own a Funko Pop collection, you may want to insure it, especially if it includes rare or limited-edition pieces. While a homeowner's insurance policy may cover your collectibles, there are a few reasons why you might want to consider separate insurance for valuable collections.
First, it's important to understand that homeowners insurance policies typically have limitations on the coverage they provide for collectibles. For example, some policies may not include collectibles at all, while others may only cover them up to a certain value, which is typically much lower than the actual worth of the collection. Additionally, homeowners insurance policies often insure items for their actual cash value rather than their collectible value, which can result in a significant difference in potential claims payments.
Another factor to consider is that homeowners insurance policies usually cover named perils only, excluding coverage for items during transit and limiting coverage for items stored away from the home. In contrast, collectibles insurance policies typically provide all-risk coverage, including protection for items in transit and those stored outside the home. This type of policy can also offer additional benefits, such as discounts for monitored security systems or items kept in a safe.
The process of insuring collections under a traditional homeowners policy can also be time-consuming and challenging, and it may not provide sufficient coverage in the event of a loss. On the other hand, collectibles insurance policies are designed specifically for valuable items and can offer more comprehensive protection. These policies often cover the full value of the collection and may not have the same restrictions on coverage limits or deductibles as homeowners insurance.
Finally, it's worth considering the potential impact on your homeowner's insurance premiums if you need to file a claim for a covered loss. In some cases, filing a claim against your homeowner's policy could lead to premium increases or non-renewal. With a separate collectibles policy, claims are typically handled separately, so they do not affect your homeowner's premiums or loss history.
In summary, while homeowners insurance may provide some coverage for your collectibles, it may not be sufficient to protect the full value of your collection. By considering separate insurance specifically designed for collectibles, you can ensure that your valuable items are adequately protected, giving you peace of mind and financial security should the unexpected occur.
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Renters insurance is an option
If you're a renter with a massive Funko Pop collection, it may be worth considering a separate insurance policy for your collection. This is especially true if your collection accounts for more than 25% of the total value of your home's contents or if you have rare pieces worth thousands of dollars. While most renter's insurance policies cover the replacement cost of your belongings in the event of a disaster, it's important to review your policy carefully to ensure your collection is adequately protected.
Renter's insurance policies typically cover incidents such as theft and damage beyond wear and tear. However, some policies may not include collectibles under their coverage or may only offer reimbursement based on the original purchase price rather than the current market value. As such, it's crucial to understand the specifics of your policy and whether your collection is adequately insured. If your renter's insurance doesn't provide sufficient coverage for your Funko Pop collection, you may need to purchase additional collectible insurance or explore specialised insurance options specifically designed for Funko Pop collections.
One option for insuring your Funko Pop collection is through Pop Price Guide, which has partnered with Sure to offer affordable and comprehensive insurance plans. These plans cover theft, damages beyond wear and tear, and incidents where homeowner's insurance falls short. The annual cost of these plans is $150 for collections worth up to $75,000, with reasonable pricing for more valuable collections. Additionally, these policies cover your collection regardless of its location, whether it's at home, in storage, or elsewhere.
When considering insurance for your Funko Pop collection, it's essential to determine the value of your collection. This can be done by using resources such as PPG My Collection profiles, market comparisons, or the amount you paid for the items. It's also important to note that some insurance companies may value the boxes of your Funko Pops as having no worth, only considering the cost of the figures themselves. Therefore, it's crucial to understand how your insurance policy values your collection to ensure you have adequate coverage.
Lastly, if you decide to insure your Funko Pop collection, it's recommended to take photos of your collection for proof in case something happens to it. Additionally, keeping a record of the items in your collection, such as through a spreadsheet, can be helpful for insurance purposes. By taking these proactive steps, you can ensure that your valuable Funko Pop collection is adequately protected.
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Separate policies for expensive pieces
If you have a few extremely rare and expensive Funko Pops, you may want to consider taking out separate insurance policies for those pieces. This is especially true if your collection accounts for more than 25% of the total value of your home's contents. In this case, a separate policy for your collection may be necessary.
It is important to note that some homeowner's or renter's insurance policies may not adequately cover collectibles. Some companies may not include collectibles under their policies, or they may only cover them for their MSRP value, which may depreciate over time. Therefore, if you have particularly valuable pieces, it may be worth considering separate insurance policies for those items to ensure they are adequately protected.
There are insurance companies that offer policies specifically designed for Funko Pop collections, such as Sure, which offers policies that cover theft, damages beyond wear and tear, and coverage beyond the basics where homeowner insurance falls short. These policies can provide peace of mind and ensure that your collection is protected no matter where it is stored.
When insuring your collection, it is important to determine the value of your Funko Pops. This can be done by using resources such as PPG My Collection profile, market comparisons, or what you paid for the items. Keeping a spreadsheet that tracks the value of your collection can also be helpful.
By taking out separate insurance policies for your most valuable Funko Pops, you can ensure that your collection is adequately protected in the event of theft, damage, or other disasters. This can provide peace of mind and allow you to continue enjoying your collection without worry.
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Limited editions tend to increase in value
The value of Funko Pops depends on their rarity, condition, and the popularity of the character they represent. Limited editions tend to increase in value over time due to the basic economic principle of supply and demand. The rarer the design, the higher the demand, and the higher the price. For example, the Freddy Funko Freddy Krueger Funko Pop was selling for around $1,000 ten years ago, but now goes for $6,060. Similarly, the Freddy Funko Black Suit, of which only 12 were produced, is now worth $12,390. The Freddy Funko Boba Fett, of which there are only a few hundred, is worth $11,390, while the Freddy Funko Red Hair, of which there are a few hundred more, is worth between $9,100 and $13,320. The Stan Lee Red Metallic Superhero Funko Pop, of which there are only 12, is worth $7,570. The Black Ranger Pop, of which there are 24, is worth $6,950.
The most expensive Funko Pop in the world is the A Clockwork Orange limited edition, glow-in-the-dark "Chase" version, of which there are only 24. It sold for $32,439 in 2022, up from $13,000 in 2016 and 2017. The non-Chase version, of which there are also only 24, is worth $35,000.
The popularity of the character represented can also affect the price. For example, Funko Pops of characters from Stranger Things increase in value when a new series is released or the show gets high praise on social media.
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Frequently asked questions
Yes, Funko Pops are worth investing in, especially the rare or limited-edition ones. They can be quite valuable, with some Pops selling for thousands of dollars.
The value of a Funko Pop depends on several factors, including limited editions, con exclusives, vaulted figures (no longer produced), low production numbers, iconic characters or franchises, and condition and grading. Rare Pops can be worth thousands of dollars.
You can insure your Funko Pops through a homeowner's insurance or renter's insurance policy that covers the replacement cost of the contents. However, some companies may not include collectibles under their policies or may not cover them for the market value. You can also explore supplemental insurance for valuable collections. Additionally, Pop Price Guide has partnered with Sure to offer affordable and comprehensive insurance plans specifically for Funko collections.
The cost of insurance varies depending on the value of your collection and the insurance provider. For example, Pop Price Guide and Sure offer plans for $150 annually to insure collections worth up to $75,000, with reasonable prices for more valuable collections.
To prove the value of your Funko Pops, you can use resources such as PPG, eBay, and Amazon to determine the market value and create a spreadsheet to document their worth. Additionally, taking photos of your collection can help provide proof in case of any incidents.
