On October 13, 2026, a FedEx driver found that two pallets of graded trading cards, including sports and Pokémon cards, and some packages from a third pallet had been taken from his truck, which was parked at or near PSA’s facility in Santa Ana, California, according to police and news reports. The initial estimated value was $963,000, and police have said the final figure may be higher. These details are as reported, and the facts are still developing. According to the Los Angeles Times, the cards had been graded and were set to be returned to their owners, and PSA told customers in a letter quoted by the LA Times that a FedEx vehicle transporting PSA orders was burglarized “after leaving our PSA facility in Southern California.” FreightWaves reported on October 20 that police were still working to determine when and where the theft happened, and as of October 21, 2026, no arrests had been reported. PSA said in a public statement that it has deactivated the stolen cards’ certificates and is arranging compensation for affected customers based on fair market value.
It’s a reminder that cards spend time in many places: at home, at a show, in the mail and at a grading company. Each can be covered differently, or not at all.
1. Collectors: at home, traveling and at card shows
Keep a record of what you own. Front and back photos, certificate numbers, receipts and dated sale comparisons make a claim much easier to document.
Think about where the cards live. The FDIC notes that safe deposit box contents aren’t covered by FDIC deposit insurance and that banks generally don’t insure them, so ask your agent about coverage for valuables kept there.
At shows and while traveling: keep high-value cards with you rather than in a parked car, don’t post your location or haul in real time, and check whether your policy covers cards away from home.
2. Shipping: what “declared value” does and doesn’t do
Carrier limits for collectibles can be low. For example, FedEx’s 2026 Service Guide (effective Jan. 5, 2026, updated Sept. 11, 2026; checked Oct. 21, 2026) limits its liability to $100 per package unless a higher value is declared, up to $50,000 per package for most U.S. services. But shipments containing “collector’s items such as coins, stamps, sports cards, souvenirs, and memorabilia” are limited to a maximum declared value of $1,000, so a card worth $5,000 can’t be declared for more than $1,000. The same guide caps anything shipped in a FedEx Envelope or Pak at $500.
Declared value isn’t insurance. FedEx’s terms say so directly, and the shipper must prove actual damages. UPS and the U.S. Postal Service publish their own limits, options and lists of items they won’t accept. These terms change, so check the carrier’s current rules before you ship.
A grading company covers only part of the trip. Under PSA’s published terms (updated April 22, 2026), for example, the customer “bear[s] the sole cost and risk” of loss on the way in, even with a PSA label, and PSA’s responsibility starts once the item is unpacked and confirmed received. While PSA has the card, compensation is capped at the lower of fair market value or the “Maximum Insured Value” of the service level you chose, so PSA advises choosing a level above the card’s expected value after grading. For the return trip, you can have PSA ship and insure the package, buy your own insurance, or use your own shipping account, which PSA doesn’t insure.
These are general published terms, and how they apply to any particular shipment, including the Santa Ana loss, hasn’t been made public. Your own policy may fill some of these gaps, depending on how it treats property in transit and held by others. Ask before you send cards out.
3. Card shop owners: inventory, customers’ cards and shipping
NBC Los Angeles reports that a handful of Southern California card shops have been targeted by break-ins in the past year. Things for shop owners to look for:
- How inventory is valued. Some policies value stock at replacement cost, some at depreciated value, and some dealer policies at market value, often with a coinsurance requirement, so keep your insured amount in line with current values. Some also limit or exclude theft of categories like stamps or collectibles.
- Security conditions. Some policies written for collectibles dealers set a lower theft limit for anything not locked in a safe, or require an alarm and safe, with coverage reduced if those conditions aren’t met. If you open a second location or move your safe, make sure the policy is updated to match.
- Customers’ cards in your care. For consignments, holds and grading submissions, note that standard general liability policies exclude damage to personal property in your care, custody or control, and business property policies may include only a small amount for customers’ property unless you increase it. Bailee coverage or a “property of others” provision may help, along with written records of what you’re holding and for whom. Cards sent out for grading are away from your shop and in transit, so check whether your coverage follows them.
- Shipping and shows. Inland marine coverage can be written to follow inventory in transit or at shows, usually with conditions. Some policies cover shipments well only when sent signature-required or by certain methods, and very little otherwise. There’s often a separate, lower limit for cards away from your shop, such as at a show, plus rules about unattended vehicles.
- Theft and crime. Break-ins by outsiders are usually handled under your property policy’s theft coverage, if your policy includes theft, subject to the limits above. Some policies for collectibles dealers exclude employee theft, unexplained losses and shortages found only in an inventory count, so a separate crime policy may be needed. Crime policies have their own inventory-count exclusion, so keep item-level records. They can also cover theft of money from the premises or robbery.
- Who’s named on the policy. Make sure the business that owns the inventory is named on the policy. If the stock belongs to your LLC but only you are named, that can complicate a claim.
4. Common homeowners gaps for collectors
A standard homeowners policy can cover a card collection as personal property, but there are common limits to know about. Many Florida homeowners policies are based on standard industry forms, and the points below describe how those forms commonly work. Your own policy may read differently, and its wording controls. Most policies set lower limits for categories such as money, coins, stamps, jewelry and business property. Trading cards usually aren’t a named category, but check how your policy treats them.
- Business property limits. Homeowners policies usually set a much lower limit for property used mainly for a “business,” often $2,500 at home, with a separate, lower limit away from home that varies among Florida policies. Many policies define “business” broadly, including a trade done full-time, part-time or occasionally, and other paid activity once it earns more than a set amount in a year. If you buy and sell cards regularly, online, at shows or through consignment, the cards you hold for resale could be treated as business property, and a personal policy may limit or exclude them. It’s worth asking about business coverage for that part of your collection.
- Mysterious disappearance. In a typical homeowners form, theft coverage includes property missing from a known place when it’s likely it was stolen. A card that simply goes missing, with nothing to suggest a theft, may not be covered.
- Breakage. Most HO-3 policies cover personal property only for a list of named causes of loss, such as fire, smoke or theft. Accidentally dropping a slab isn’t on that list, so the damage may not be covered. Some policies offer broader “open perils” coverage for personal property, but even that can exclude breakage of fragile items. Your policy’s wording controls.
- Theft away from home. Policies differ here. Some cover theft of your belongings away from home much as they would at home. Others cap it at a fraction of your personal property limit, and some Florida policies don’t cover theft away from your home at all. Policies can also set lower limits for property kept at a second home or in a storage unit. Check your policy before you take cards to a show, a hotel or a storage unit.
- Replacement cost may not apply. Many policies offer replacement cost for personal property, but the standard replacement cost endorsement many policies use treats collector’s items and memorabilia whose age or history adds to their value as ineligible. Those are usually settled at actual cash value instead. Florida law also generally lets homeowners remove personal property (contents) coverage from their policy by signing a written statement, so it’s worth confirming that yours includes it.
Options that may help. Some policies let you add a scheduled personal property endorsement (sometimes called a floater) that lists valuable items or a collection individually, with its own amount of coverage. A floater can also be bought as a separate policy. These often cover more causes of loss than the homeowners policy itself, sometimes with no deductible. Not every policy allows scheduling, though, and not every insurer will schedule trading cards. Some floaters still exclude breakage of fragile items, or loss while shipping or on display.
A standalone collectibles policy is another option, and these value cards in different ways. Some use agreed value for listed items, meaning you and the insurer settle on an item’s value when it’s added, not after a loss. Others insure the whole collection on a blanket basis and pay market value at the time of a loss, often with no list required for lower-value items. Still others pay the lower of the listed amount or the item’s value at the time of loss, so ask which applies. Causes of loss, exclusions, eligibility and availability vary by company and by state. Card values change, so it’s worth reviewing your listed values and total limit regularly.
Questions to ask about collectibles coverage:
- Is there a per-item limit on blanket coverage, and when should a card be listed individually?
- What documentation or appraisal is needed, and how often should values be updated?
- Are cards covered in the mail, at a show (including while displaying or selling) and while a grading company has them? Are there shipping-method or packaging rules?
- Are accidental breakage and unexplained loss covered, and what deductible applies?
Damage from humidity, gradual deterioration or insects is commonly excluded, so storage conditions matter.
Let’s review your coverage
McGriff-Williams Insurance is an independent agency in Gainesville since 1983. Whether you collect, sell or run a card shop, a licensed member of our team can review your current home or business coverage with you, including how it treats your cards. Call (352) 371-7977 or contact us.
This article is general information, not a statement of coverage. Your policy’s terms, conditions and endorsements control. Coverage options vary by company and are subject to underwriting and availability. News details are as reported as of October 21, 2026 and may change.
Sources
- NBC Los Angeles, “Trading cards worth nearly $1 million stolen from FedEx truck, PSA says” (Oct 19, 2026, updated Oct 20), accessed Oct 21, 2026: https://www.nbclosangeles.com/news/local/trading-cards-stolen-from-fedex-truck-psa/3958318/
- FreightWaves, “Nearly $1M in Pokémon and sports cards vanish from FedEx truck, driver discovers missing lock” (Oct 20, 2026), accessed Oct 21, 2026: https://www.freightwaves.com/news/nearly-1m-in-pokemon-and-sports-cards-vanish-from-fedex-truck-driver-discovers-missing-lock
- People, “Pokémon and Sports Cards Worth Nearly $1 Million Stolen from FedEx Truck, Police Say Value Could Be Higher” (Oct 20, 2026), accessed Oct 21, 2026: https://people.com/nearly-1-million-worth-of-pokemon-sports-cards-stolen-from-fedex-truck-california-police-say-12185357
- Los Angeles Times, Steve Henson, “Almost $1 million in rare sports and Pokémon cards stolen from FedEx truck in Santa Ana” (Oct 20, 2026), accessed Oct 21, 2026: https://www.latimes.com/sports/story/2026-10-20/1-million-dollars-sports-pokemon-trading-cards-stolen-fedex-santa-ana
- FedEx Service Guide 2026 (effective Jan. 5, 2026; updated Sept. 11, 2026), Terms and Conditions, “Declared value and limits of liability (not insurance coverage),” items A, B, C, E, G.11 and H, accessed Oct 21, 2026: https://www.fedex.com/content/dam/fedex/us-united-states/services/Service_Guide_2026.pdf
- PSA Submission Services Terms and Conditions (last updated April 22, 2026), sections 2, 5, 6, 7 and 10, accessed Oct 21, 2026: https://www.psacard.com/termsandconditions
- FDIC, “Five Things to Know About Safe Deposit Boxes, Home Safes and Your Valuables” (last updated Aug. 1, 2023), accessed Oct 21, 2026: https://www.fdic.gov/consumer-resource-center/five-things-know-about-safe-deposit-boxes-home-safes-and-your-valuables
- Florida Department of Financial Services, “Homeowners’ Insurance: A Toolkit for Consumers,” accessed Oct 21, 2026: https://www.myfloridacfo.com/docs-sf/consumer-services-libraries/consumerservices-documents/understanding-coverage/consumer-guides/english—homeowners-insurance-toolkit.pdf
- Florida Department of Financial Services, Office of the Insurance Consumer Advocate, “Homeowners Insurance Policy Endorsements” (Personal Property Replacement Cost Coverage; Personal Property Exclusion), accessed Oct 21, 2026: https://myfloridacfo.com/division/ica/fullcoverage/homeowners/policyendorsements
- Insurance Information Institute, “Special coverage for jewelry and other valuables,” accessed Oct 21, 2026: https://www.iii.org/article/special-coverage-for-jewelry-and-other-valuables
