Insurance?

[b24karrot]

Quick question..................do yo all insure your stuff for what you paid or for what the going market rate is? Not sure how collectible insurance works.........I know I should have a itemized list of everything I have and also heard that you should go through your house with a video camera. Any ideas?

Thanks

 

[b24karrot]

Oh by the way I have State Farm for the house and cars............should I stcik with them or go with someone else for my stuff?

 

[EVILFACE]

I have mine insured under our allstate home insurance. Video taped and on a spreed sheet.

 

[b24karrot]

So I can add all my stuff to my home insurance? Okay cool. So do I print out the receipts I have from PayPal or do I insure it for market value? Like I know if I had to replace my exclusive Pred maquette I could not replace it for what I paid.

 

[b24karrot]

Got another question...............I have bought alot of gifts this year, Sideshow and some other companies, do I have to give my relatives the receipts showing what I paid for their insurance? Cause I really don't want them knowing what I paid? So how would I do that?

 

[Deadly Dagger]

Got another question...............I have bought alot of gifts this year, Sideshow and some other companies, do I have to give my relatives the receipts showing what I pad for their insurance? Cause I really don't want them knowing what I paid? So how would I do that?

 

[Wetanut]

So I can add all my stuff to my home insurance? Okay cool. So do I print out the receipts I have from PayPal or do I insure it for market value? Like I know if I had to replace my exclusive Pred maquette I could not replace it for what I paid.

I also have State Farm. Regular home insurance will not cover equitably what you have in collectibles. You might get lucky to get reimbursed for actual cost -- if that. I purchased a separate rider just for my stuff. Along with the invoices that I keep, I took pics of each item (to show they were in my possession); I also have screen shots of each of the pieces as they appeard on the online order site. That's because they list all the specs of the piece along with the price. I also created a folder that has all the items (that's available) that I could refer to from Spaceman's site...( www.toytracker.net) showing what the current prices are in the secondary market (via e-bay auctions). Since much of my stuff is Sideshow and Gentle Giant, his site is invaluable to me for this purpose. I also have a quick reference spreadsheet with item, manufacturer, date of purchase, price, and actual cost. I update all this every 6 months onto a CD and provide to my insurance agent.

It sounds like too much trouble. But frankly, if I were to try to replace my collection (both figures, statues, etc. and the artwork), I would never be able to do so with basic home insurance. I can't remember what it costs per year for that rider, but it was very reasonable IMO.

 

[b24karrot]

Great info..............I am in Michigan so any one know of the best company to use for a rider? I have a spreadsheet, and I have all my bills, from shops, paypal, internet companies etc, and I plan on making a video next week, but now will also take still shots of each piece. Would like to have it all insured by August because I will be going on vacation the second week, so just want to be safe. Thanks for the great info............

Any other idea are also welcome.

 

[OSCORP]

I have renters insurance so it's all covered. But if i didn't i wouldn't bother, it's just material possessions.

 

[b24karrot]

Oh man, seriously? Wow, I think if I lost it all in a flood like from a water pipe burst or someone broke in and stole it I would flip..............but I guess in some ways I see your point, like as long as my family and pets are okay I guess you are right, the rest is just material..................but just to be safe I think I will still insure..............

 

[Darth Loki]

All my stuff is on a separate policy called a 'Rider'. I have pics of everything along with all the descriptions, SN's, and current/replacement values.

I've only had to use it once but it's already paid for itself when my Gandalf PF mysteriously broke his arm

 

[Darth Pikachu]

I haven't insured mine, yet, but once I do, I'm going through these guys:

www.americancollectors.com

They seem to be collectors themselves. They are the only ones I've found to include accidental breakage and cover most collections for $75 a year.

 

[El Roranous]

I go through these guys. They are affordable and I have heard great things about them.

https://www.collectinsure.com/

 

[Mesa]

I GOT TO do this, and soon.

 

[Giant Chicken]

I have Farmers Insurance. My home owners will cover all items lost/damaged/stolen. I have taken pictures of everything and I email them to my insurance guy and he stores the info.

If there is a situation where a piece needs to be replaced they will track down an buy the actual piece that I need. If it is something hard to find like Gray Hulk Vs. Spidey then they will look at current prices and give me some sort of cash settlement.

If there was a situation were I lost all of my collectibles I do not feel that it was the end of the world. Infact, I would probably try and get cash for as much stuff as possible and then either cut back or drop this expensive hobby.


EDIT: I do not have to pay extra for this insurance. Farmers will cover up to a million dollars (can't remember exact price) or so of material items in our home and we are not even close to that figure. But they do offer special insurances that will go above and beyond. Also, Farmers is a fairly expensive insurance. Our home insurance is included in our house payment but between our cars and life we are paying over 200 a month. (I think we are getting screwed with our life insurance... I need to look into that.)

 

[b24karrot]

I want to thank everyone for the really great info.
So here is where I stand..............on Monday I am going to call State farm and see what is covered on my home owners and what is not, then if I have to get a Rider I may with with State Farm depending on what their rules are and what they cover or I may go with one of the collectible companies mentioned here, I will call them too.

Thanks again everyone, at least now I have a idea of what to ask and how it should work.

Great weekend to all.

 

[user 1190]

I go through these guys. They are affordable and I have heard great things about them.

https://www.collectinsure.com/

Me to my renters insurance wouldn't cover them.

 

[hairlesswookiee]

I have renters insurance so it's all covered. But if i didn't i wouldn't bother, it's just material possessions.

true, but some of my items have sentimental value. my GF has given quite a few items that are in my collection and they mean a lot to me..more so than monetary value.

~~i have to look into getting some insurance for my stuff next month can anyone give me some recommendations??? i have electronics, collectibles, porn, and other typical things in the house.

 

[El Roranous]

true, but some of my items have sentimental value. my GF has given quite a few items that are in my collection and they mean a lot to me..more so than monetary value.

~~i have to look into getting some insurance for my stuff next month can anyone give me some recommendations??? i have electronics, collectibles, porn, and other typical things in the house.

You want to insure your porn?

 

[hairlesswookiee]

You want to insure your porn?

also holds a sentimental value.