Insurance for your collection

[Stomski]

Some of us have a good chunk of cash invested in our collections and they would cost possibly even more to replace should the get stolen or damaged in a fire etc.

Does anyone have itemised insurance for their collection or do you just rely on your contents cover?

If you do have special cover, who was it with and what was the valuation process etc?

[Dezzeh]

I just use standard cover at the moment, apparently Aviva will cover each item up to £5000. Proving that molten lump of plastic was what i say it was is however more difficult.

[legios]

I don't worry about it. It is only "stuff" in the final analysis. If it is lost through damage or theft then do be it, much as if it goes because I no longer have room for it. The only things that I've got at the moment that I'd consider worth insuring are - given they hail from the 1940's when printing had become a truly mass industry - of only nominal financial value. Their value is in their family historical value, and no insurer pays out on that.

As to my plastic robots and stuff, I've never considered them worth the extra effort involved.

Karl

[Pinwig]

TFYLP did a whole episode on this with advice. I'll find the right episode and link it.

[The Doctor]

I've never thought of toys as an investment and more have been giving away than kept because of lack of room anyway.

-Ralph

[Pinwig]

I've been back through the index for the last two years of TFYLP episodes and I can't find the right one. I'll try again tomorrow. It was within that time frame for sure.

[Stomski]

For those arguing the case against insurance, do you go completely without buildings/contents insurance? Most items we own aren't for investment purposes, but we would want them replaced in some form if the worst happens.

[The Doctor]

I don't own a property or furnishings so insurance is a waste of money for me or not applicable at all!

-Ralph

[legios]

I have buildings insurance, because it provides cover for the rebuilding of my house if anything drastic were to happen - fairly important to protect the roof over my head. Likewise I have contents insurance in order that should something drastic go wrong I can replace important things like freezer, hob, oven, damaged/loss to clothes etc.

I cover the things I need, I just don't worry too much about covering the luxuries.

Karl

[Jim]

I think I'm with Karl on this; I don't think I would bother using the insurance to replace my (dwindling) collection. The pieces I value most are those from my childhood, and that value isn't financial - the main thing that would bump them up a bit is still having all the target / power master companions.

-Jim

[Shockprowl]

Our house insurance covers pesonal items upto a certain amount, which covers the high-end items in my collection (I collect a lot of the Master Piecey type things). My collection gives me joy, if anything happened to it I would seek to replace it. I think if your collection becomes worth more than a certain amount insurance wouldn't be unreasonable. Where the line is is upto the collector.

[legios]

I should also clarify that I am not "arguing the case against insurance". All I intended to do was answer the question about whether I had separate insurance for my toys etc (and offering my rationale for my decision). I apologise if I have misunderstood the question - I didn't get from it that you were looking for advice as to whether other people should or shouldn't do so. Sorry about that.

Karl

[Stomski]

Where you have home contents insurance, have you got specific things itemised/photographed, or have you just specified a lump sum that will get paid out post assessment of damage?

I'm not just thinking TFs here.

[Shockprowl]

No TFs itemised, but coupla other things of specific value itemised.

[Marc Graham]

Most contents insurance policies I gave had only really need items pictures and proofed if they exceed values specified in the policy, for our policy it was £2,500 I think, so nothing specific in my collection would require that.