Insurance....

[Ukgarisson]

Good people

As your collections have grown over the years how have you approached the subject of insurance? God forbid a burst water tank/pipe or some scumbag breaking in making off with them.

Is it an addition to your house insurance as listed items? How did you provide the insurers with a valuation?

Cheers
Andy

 

[JuniorChubb]

Good people

As your collections have grown over the years how have you approached the subject of insurance? God forbid a burst water tank/pipe or some scumbag breaking in making off with them.

Is it an addition to your house insurance as listed items? How did you provide the insurers with a valuation?

Cheers
Andy

Andy, please don't tell me you are an insurance salesman?

I use this to track my collection ( http://www.whatyouown.org/ ), it is recommended to help with an insurance claim, I do think it is wise to let your insurers know you have a valuable collection at home though. Make sure you back it up though, if your laptop gets stolen so will your list of contents.

 

[edd_jedi]

With most policies you only have to declare your collection separately from your regular contents insurance if you have any individual pieces worth over £2000. I never did, so it wasn't an issue.

 

[Ukgarisson]

no insurance sales here mate

I guess as long as you have photos of all your items then you could claim for each individually if something untoward happened. However if you tried claiming for twelve 12 backs and 9 21 backs in one go I'm sure the insurance guys would push back unless previously disclosed.

I'll have a chat with my house insurance folks an find out hat the deal is with collections and let you all know.

 

[edd_jedi]

However if you tried claiming for twelve 12 backs and 9 21 backs in one go I'm sure the insurance guys would push back unless previously disclosed.

Nope, I (well my parents because it was their house) put in a claim for 70 MOC figures totalling about £8k-10k in value. I had photos and paypal receipts for virtually every one of them so there was no trouble making the claim. It's no more difficult than claiming for anything else with a similar value.

 

[Ukgarisson]

However if you tried claiming for twelve 12 backs and 9 21 backs in one go I'm sure the insurance guys would push back unless previously disclosed.

Nope, I (well my parents because it was their house) put in a claim for 70 MOC figures totalling about £8k-10k in value. I had photos and paypal receipts for virtually every one of them so there was no trouble making the claim. It's no more difficult than claiming for anything else with a similar value.

That is good to know.......now to collect my PayPal receipts!

 

[sith-smith]

Before getting insurance, I was asked to provide written confirmation on value from an established seller who could verify the value

 

[Tank1252]

Before getting insurance, I was asked to provide written confirmation on value from an established seller who could verify the value

Someone from here Gary?

 

[edd_jedi]

Yes there are definitely some people on here, Gary included, that should have dedicated insurance due to the quality of their collection. But for your 'average' MOCs it's not necessary.

 

[sith-smith]

Before getting insurance, I was asked to provide written confirmation on value from an established seller who could verify the value

Someone from here Gary?

No. someone who actually knows stuff and has authority :wink:

Seriously though they needed an actual business, so I got it on headed paper, they had their own website, were registered business etc. I think basically they wanted someone 'official' against whom they could check reliability

 

[Dublinjeff]

Never really thought of this, but its a good point to consider. Although recently, when changing mortgage providers the agent asked myself and the missus about anything of major value in the house that should be mentioned specifically in the attached insurance. I thought to myself outloud, mmm..... my DVD collection and SW figures. Your one just looked at me blankly and said 'I meant jewellary, Engagement ring, etc....... At least the Missus thought it was funny.......

 

[Caswellbot]

It is always worth checking with whoever provides your home insurance as to whether your collection would be covered. There is nothing like peace of mind.

Items over a certain value (£1500 I think it is for Nationwide) should be named specifically on the contents insurance. You will also be asked to produce a brief description of the item. Some banks/ buildings societies will also require you to get an independent valuation as Gary has mentioned.


In most cases your collection will be covered by normal household contents insurance like Edd says but it is always worth cataloguing the items that you have with photos and brief descriptions along with relevant AFA serial numbers if you have graded items for your own records. If you have paypal receipts then I am sure that these would be really helpful if you were to ever make a claim too.

 

[Vernon]

My insurance company wanted a bit more than just my word for it so I contacted Vectis & they provided a free valuation.
I sent them detailed photos & it took them about a week to reply.

May be worth considering?

 

[JuniorChubb]

the agent asked myself and the missus about anything of major value in the house that should be mentioned specifically in the attached insurance. I thought to myself outloud, mmm..... my DVD collection and SW figures. Your one just looked at me blankly and said 'I meant jewellary, Engagement ring, etc.......

Ignorant agents :lol: :lol: :lol: :lol: