Huge question about homeowners insurance

[Mrbill317]

I like many of my fellow collectors probably have a near irreplaceable collection.

What have you guys/gals done to protect your investment / fun?

In the past 2 years I have seen my current and vintage collections grow and with adding a HD tv , a Macpro , high end PC ect.
What do we usually have to do with regards to insurance?

Do you guys have any insurance on your storage units?

I was planning on making an inventory sheet and then try to aproximate its worth. If I was to have a fire tomorrow I would be screwed :(

[barythrin]

This is something I need to look at again. Before I just had general common collectibles but yes I do have some rarities now. Originally they just asked me the value of all my items in the house in general so I lumped it in there although I think it's time to start noting what I have and guesstimate the value. As I somewhat stated and started to realize recently was if something happened to me my family would have to go through the collection and wouldn't know what is worth anything nor would any of us have any idea what was paid for some of it just as a value perspective.

I thought (have no idea as I've never used one) the storage unit folks have their own insurance to cover loss? I'd guess you would just need a list of items and I'm not sure how to prove value or loss. I mean what's to stop me from saying there was an original Kenbak or something in the fire (lol I'd have a replica of one now that I think of it)?

I'd be interested too in what others have done with your larger/more valuable collections. I have the same conflict of interest loaning some of my stuff (no money, just a loan) to a local museum that had a slight interest in a few of my systems in their collection.

- John

[tezza]

This has been on my mind recently too, now my collection is expanding. What I think I'll do is take pictures of all my units with the serial numbers etc. (so if they are stolen then maybe they could be traced) and make up a list of them all with an estimated "worth". I'll then contact the insurance company and see if they are covered under my present policy for whatever I've valued them at.

If they are stolen/destroyed right now the insurance company will have no idea of the value so it's probably best that I specify what I think they are worth, and let the insurance company know in advance what that is. They might be fine with that.

I might have to take out special insurance. If anyone has insured their collection, I'd be interested to know what they did.

[fred333]

That sounds like a plan to me.

[billdeg]

I have a blanket policy that I can use to apply to any items lost or stolen and not covered by regular insurance. To be safe you should submit a verifiable list of your inventory, serial numbers, pictures, and confirm with your insurance agent that you're covered. My policy is with the Hartford. It's a business policy, but I am sure that there is a home owner's version too.