Collection insurance

[sith-smith]

I'm sure there's been a topic on this before, but couldn't find it so starting a new one.

Do people on here have their collections insured?

If so how did you go about it?

I think I've find an insurance broker who specialises in finding insurance for collections, but considering the problems I've had in the past, it all seems a little too easy

 

[browny]

Gary,I insured my collections with my regular provider

As long as you log it,keep eBay invoices,emails etched and take photos of your collection whenever you get a significant amount added it will be fine mate...

I am covered up to £35000 for my collection (worth nowhere near that but still :lol: )

Brokers ****ing do my swede in pal....

 

[PGowdy]

You need it more than anyone Gary! :shock: (sorry)
I'm sure when we discussed it on here people were saying you can get it covered under "contents" insurance. But i guess you need to get it officially valued. Not sure. Everything pictured one would assume.
I personally don't have mine insured. I probably should but i'm lazy and it sounds complicated.
I'm lucky enough in my 35 years living in london to have never been the victim of burglary (temps fate :roll: ) But i know the flat downstairs has been broken into. This is not a uncommon story, tho not unheard of, burglars are far far less likely to try and break into an upstairs flat. Any flat i move into after this one will definitely not be a ground floor.

 

[PGowdy]

As long as you log it,keep eBay invoices,emails etched and take photos of your collection whenever you get a significant amount added it will be fine mate...

See this is the problem, No way would i be able to compile a list of all my purchase info- ebay, forums, paypal gifts??, payments in person etc. And what of that? If you paid for something in person and have no receipt (as i did with my Yak Face MOC). The likelihood is, if you do pay for something in person it's probably something expensive that you would like to insure.

 

[Lee Gregory]

Also how do you prove you haven't sold it on. Surely it woyld be relatively easy to buy a load of gear,take pics,keep invoices ect and then sell it on. Most of us have probably had a fair few £k in our collections at certain times and changed focus or decided to sell up.
Anyways in answer to your question Gaz, no idea pal.

 

[sith-smith]

I tried my usual contents insurer and they refused flat out. It's even written into the agreement that it is not covered in anyway under contents

I went to an insurance broker who I've used before.

They struggled to find any company that would insure a collection valued, but eventually managed to find two insurers, one was £2500 a year, the other £1300

I looked online and found a company under a search for toy collection insurers. They found me someone within a day...at £350

All seems very strange.

 

[spoons]

The problem might be calling it a collection. My broker is happy for my collection to fall under household contents as long as no one item is worth more than £2k. But that was after discussing whether it was a 'collection' in insurers terms, which means if one item is stolen the whole collection is devalued - that shouldn't apply to anyone here. He explained in terms of a set of antique books with a value of £10k, you take one book away and the set has lost most of its value.

I'm not sure I'm explaining myself too well but ask your insurers again and explain that you have many vintage toys each with a high value and unrelated to any other item and see where that gets you, just don't mention collection

 

[PGowdy]

The problem might be calling it a collection. My broker is happy for my collection to fall under household contents as long as no one item is worth more than £2k. But that was after discussing whether it was a 'collection' in insurers terms, which means if one item is stolen the whole collection is devalued - that shouldn't apply to anyone here. He explained in terms of a set of antique books with a value of £10k, you take one book away and the set has lost most of its value.

I'm not sure I'm explaining myself too well but ask your insurers again and explain that you have many vintage toys each with a high value and unrelated to any other item and see where that gets you, just don't mention collection

Makes sense.

 

[sith-smith]

They are aware of all of this.

The value of my collection has made it almost impossible to fall under household contents.

The current broker i have used seems to specialise in collections.

But £350 a year seems to be on the cheap side, which fill me with some concern.

 

[.Q.]

Although my collection is barely worth insuring, I'd be distraught if it was pinched as it's from my childhood. Got broken into once and they stole my playstation and cd's but mercifully, the vintage stuff was untouched. I would imagine my box of beaters would be covered by contents insurance, but interested to hear what you find out Gary, could be of benefit. Cheers in advance of any info.

 

[spoons]

They are aware of all of this.

The value of my collection has made it almost impossible to fall under household contents.

The current broker i have used seems to specialise in collections.

But £350 a year seems to be on the cheap side, which fill me with some concern.

I did wonder whether you might be dealing with a little more value than most of
us

Makes sense.

Thanks Pete

 

[sith-smith]

Although my collection is barely worth insuring, I'd be distraught if it was pinched as it's from my childhood. Got broken into once and they stole my playstation and cd's but mercifully, the vintage stuff was untouched. I would imagine my box of beaters would be covered by contents insurance, but interested to hear what you find out Gary, could be of benefit. Cheers in advance of any info.

Well, this is the brokers who said they deal with collections...

http://www.greenfieldinsurance.co.uk/highvalueinsurance.html

They did not seem at all confused or concerned when I told them what it was for and for how much, unlike other brokers.

Had me an offer within a day

 

[Badderius]

Heya bud,

I work as a Financial Adviser/Consultant for a major retail bank, as far as I am aware their contents insurance is unlimited-only things that need to be declared are items worth £1500+ or more. Still covered within the contents side and only need to be registered.

Will find out on Monday-I dont deal with that side but will contact their department and find out the script with "Collections".

Will update this Monday/Tuesday.

Cheers