Insurance for you collection, where do you get it at

[jason2885]

I started thinking about the amount of stuff I have and I think I have close to $40000 worth of stuff. Does anyone know where to get insurance at, for like theft, natural disaster, as well as just accidental breakage.

I thought this would be a good section to put this in since most of my collection is Star Wars plus this section get more traffic.

If anyone has any experience with insurance and dont mind sharing please let me know.

 

[Darth Cruel]

I actually got approached at a show by a company who specifically insures these collections. When I find the card, I will post the info.

 

[Chapter 2099]

I actually got approached at a show by a company who specifically insures these collections. When I find the card, I will post the info.

I'm in the same boat as jason2885. I need to find an insurance group as well. I was actually thinking about this same thing last night. We just moved into a new place and after taking some of my pieces out, I thought, "Insurance would probably be a good idea..." Any info. would help me out tremendously as well.

 

[jason2885]

I think I have heard members here talk about insurance before. I think Loki recently had to replace a broken GTW PF. Maybe if he could let us know what company he uses and what you have to do to get insurance.

 

[jsjedi]

I just got insurance through state farm. It's where i have my house insurance through. It is cheap and worth it if you live in a flood zone.

 

[Chapter 2099]

I just got insurance through state farm. It's where i have my house insurance through. It is cheap and worth it if you live in a flood zone.

How does the process work when you first start out? Do you take pictures of everything you want insured and provide them with what you paid for it?

 

[Malice]

For my freaks that live california those any one know if your collection is covered in your earthquake insurance?

 

[The Ween]

Mine is added on to my house insurance and I have a rider on it for my storage unit.

 

[Wetanut]

My home insurance via a rider. Not really expensive...believe I've got $25K coverage for only a few dollars extra on my regular payment.

 

[Darth Madden]

I've been wondering about this as well. Not that I have a LOT that needs covering but it would be nice to have some options if the time comes that I need it.

 

[Voorhees27]

Yeah my house is insured up the ass so I have no worries!

 

[galactiboy]

Mine is built into my renters insurance... I told the guy an approximate value on my collection and I keep a database of what I own so if there is ever an issue I'll be covered. Its really a small amount extra, especially if you already have vehicles and other stuff covered.

 

[MinMay]

Hi,

Does anyone know how much to insure about 100K worth on a monthly basis? Do I need to keep my receipt for proof?

 

[316what]

Hi,

Does anyone know how much to insure about 100K worth on a monthly basis? Do I need to keep my receipt for proof?

It will depend on if you have a renter's policy or homeowner's policy.

Like some of the others have said, my collection is covered under my household contents portion of my policy. Each year I re-evaluate how much coverage I have and if the collection has grown substantially, I then increase the $$ amount of the household contents.

My insurance is through USAA. The best part is that I'm covered for full replacement costs...for example, if I still had my PF Doom and it got broken, I would be insured for the current market value instead of the original cost.

A database of your collection is a good idea, but keep in mind most insurance companies value pictures a lot more.

 

[sladesuperagent]

Mine is built into my renters insurance... I told the guy an approximate value on my collection and I keep a database of what I own so if there is ever an issue I'll be covered. Its really a small amount extra, especially if you already have vehicles and other stuff covered.

I'm did the same thing through State Farm. It's like $27 a month for a $25,000 of coverage. It also reduces the cost of my car insurance by about $10 a month. State Farm is the way to go--especially if you have good credit and a clean driving record. They've been the best car insurance co. I've ever been with and the longer you stay with them, the more they discount you're insurance. My policy also includes no rate hikes for tickets and when I went through my renter's insurance property, I was able to put more focus on my collection over everything else.

 

[jsjedi]

How does the process work when you first start out? Do you take pictures of everything you want insured and provide them with what you paid for it?

I took a video, a very detailed on at that. Mention what it is, maker, serial number, if it's limited or not. I gave a copy to my insurance and one for myself. Of course you have to update it but it is the way to go.

 

[Chapter 2099]

I took a video, a very detailed on at that. Mention what it is, maker, serial number, if it's limited or not. I gave a copy to my insurance and one for myself. Of course you have to update it but it is the way to go.

Nice. That seems like the most efficient way to goes as well. You'd have live footage, audio, etc. Instead of a paper list or photos only. I better do some follow-up work with my insurance agency! Thanks for the advice and info.

 

[Chapter 2099]

It will depend on if you have a renter's policy or homeowner's policy.

Like some of the others have said, my collection is covered under my household contents portion of my policy. Each year I re-evaluate how much coverage I have and if the collection has grown substantially, I then increase the $$ amount of the household contents.

My insurance is through USAA. The best part is that I'm covered for full replacement costs...for example, if I still had my PF Doom and it got broken, I would be insured for the current market value instead of the original cost.

A database of your collection is a good idea, but keep in mind most insurance companies value pictures a lot more.

This is nice to know. Like you were saying if someone bought a Doom for market retail years ago and it broke today, there's NO WAY you could replace it for retail prices due to such limited availability and "grailness." This is the way all insurance policies should handle this sort of thing. I suppose it helps you sleep a lot better at night too knowing that you'll get current market value and not MSRP.

 

[Wetanut]

A bit of caution to keep in mind. I found out from my insurance guy (State Farm) that were anything happen to my collection, under the regular homeowner's policy, I would be good for MSRP. That's the reason I took a rider for my collectibles so that I could get the market price in the event of a need to replace. I have a complete "booklet" of pictures with each item having the particulars (MSRP, date purchased, actual cost, description, and any notable things -- like SDCC exclusive, contest prize, gift, etc.). I also have a printout of my stuff in ToyTracker which gives a relative market value of at least my Sideshow, Sideshow/Weta, and Gentle Giant items. I put all this on a CD which I update every 6 months and pass off to my insurance guy. (I also keep all my invoices...just in case)

 

[sladesuperagent]

A bit of caution to keep in mind. I found out from my insurance guy (State Farm) that were anything happen to my collection, under the regular homeowner's policy, I would be good for MSRP. That's the reason I took a rider for my collectibles so that I could get the market price in the event of a need to replace. I have a complete "booklet" of pictures with each item having the particulars (MSRP, date purchased, actual cost, description, and any notable things -- like SDCC exclusive, contest prize, gift, etc.). I also have a printout of my stuff in ToyTracker which gives a relative market value of at least my Sideshow, Sideshow/Weta, and Gentle Giant items. I put all this on a CD which I update every 6 months and pass off to my insurance guy. (I also keep all my invoices...just in case)

I've always found Toy Tracker to be way off for some figures (PFs, statues, and busts I have no idea b/c I don't buy 'em). For example, they have SS Platoon King at $60 and he's around 3x that now.