Contents Insurance for Collections

[Leigh77-85]

Hi. Starting to build up a pretty cool collection of MOC's and MISB's and Loose Figures.

I phoned my insurance company and they don't cover whole collections but individual items.

Just wondered if anyone else had looked into this in detail as sometimes it gets a bit scary the thought if anything happened and how the claim would be dealt with. Some of the stuff I have could potentially take a couple of years to find in the same condition (not that it is about the money now) but what I paid for some of it would cost more to by now. Some less but that was down to early doors naivety and desperate to start building early.

Comments would be welcome as I would be devastated if anything happened as this is not only a passion but also in a way a future investment compared to saving it in a bank

Thanks

Leigh

 

[edd_jedi]

Generally they have a limit for individual items, with mine it is 2k per piece. I don't have anything worth that much, so mine is fine. Obviously you need to make sure your policy covers your collection AND other contents, eg if you've got 40k total cover and a 30k star wars collection, you'll probably be in trouble should something happen as they will argue your appliances etc are worth a lot more than 10k.

 

[sith-smith]

There are specialist insurance brokers oout there.

My household contents insurers refused outright to cover my collection and it's even written into the contract!

I went to these...

www.greenfieldinsurance.co.uk

They found me an insurer quickly and without any shock when I told them what I wanted to insure and for a fraction of the price over brokers found!

 

[Ross_Barr]

Here is an article I wrote for the SWCA blog on insuring SW collectibles. I discuss on provider in the UK, but the general topics should translate as well.

http://blog.theswca.com/2015/09/surely-you-must-ensure-to-insure.html

 

[maxf]

John Lewis home insurance and hiscox both offer coverage in the U.K. JL didn't specify a limit and considered collectables under £15k per item part of the standard cover, which is unlimited - so effectively I have my whole collection insured at no extra cost.

Hiscox charged a small fee but we're also pretty good.

Neither are a cheap insurer though - my contents cover is £350 a year. Buildings insurance costs me the same again almost.

 

[jasdev999]

Geat article Ross. Directline also covers the collection under homecover but have asked me to keep an inventory and a video with detailed commentary rather then just pictures.

 

[stormcab]

Good thread. I need to call my people, the AA and see what they cover.