plybeep68
Member
Just out of curosity does anyone have thier collection insured? Some of you guy's have very impressive collections !!
Insurance
- Thread starter plybeep68
- Start date
plybeep68 said:
I do as a matter of fact. I use Collectors Insurance Agency, from Hunt Valley, MD. I think they go as Collectors Insurance Services now. I have my diecast and model car collection all covered as well as my Lightbars/Beacons. Even though they do not require a complete inventory, just a basic topic list of what you have, I take frequent photos and video walk-arounds of the display room as it changes to make sure what I have is documented well.
They are not terribly cheap. I have close to $70K in coverage now and I think it runs close to $350 a year now, one yearly payment. But I guess its all relative. For that coverage I don't have to worry about fire or floods, the most common area of concern.
They do not cover, however, things that involve terrorism, government insurrection, government ordered destruction as related to war or wartime events, nuclear hazards related to such. Oh well, I dont think that will happen but who knows. Just hope I can get the lights in the bunker in time. Screw institutional size cans of soup, Im saving my NOS Twinsonics!!!
Check with your insurance agent. (Coverage varies from policy to policy and state to state.) If it is not used in business, it may be covered under the personal property portion of your home policy. Most home policies do not cover flood. If you get a policy just for your collection, you want 'all risk' coverage. Check with your agent. (Oh, and did I mention you need to talk to your agent.)
dmathieu
Lifetime VIP Donor
I was told that I would need a certified appraisal of each light to determine worth, since they are no longer available for new pricing
Maxim2Eng
Supporting Donor
OK Farm Bureau tells me all of my valuables are "replaced" by same or comparable items. So a piece of artwork, an instrument or antique light would be replaced. If a replacement can't be found, then an appraisal is conducted. That is why it is so important once a year, go through your house with a video camera and shoot everything (open drawers, cabinets, etc.) and put it into a safe deposit box. And talk with your agent to find out the latest "exclusions" or options (after Katrina, earthquake insurance became an "extra" and can only be issued 36 hours after all aftershocks have stopped). Be extra diligent and get lots of high quality closeups of your treasures. It saves a lot of hassle down the road. I know, my builder's insurance tried to stiff me for six figures when some local turds burned our house down while it was under construction...70% complete.
BTW a good iPhone app is Scr.APP.bk. Check it out but don't leave it on your phone--it's not password protected, so loose your phone and a thief can email himself a shopping list and know exactly where to find it.
BTW a good iPhone app is Scr.APP.bk. Check it out but don't leave it on your phone--it's not password protected, so loose your phone and a thief can email himself a shopping list and know exactly where to find it.
You can use an inventory program such as this: Home Inventory - powered by StrongTech . It's free.
You don't have to upload your data to the cloud, you can store it on a disc or memory card and put it in the safety deposit box or let a trusted friend or relative keep it for you. (Consider not giving it to the next door neighbor, in case both of your houses burn down together.) :duh:
You don't have to upload your data to the cloud, you can store it on a disc or memory card and put it in the safety deposit box or let a trusted friend or relative keep it for you. (Consider not giving it to the next door neighbor, in case both of your houses burn down together.) :duh: