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View Full Version : Maybe a dumb question.....



TeeEye7
04-15-2007, 12:47 PM
I was just admiring photos in the "Collections" section and it gave me pause to wonder: do any of you have insurance riders on your collections?

I don't bother because my collection is very modest (about 200 figures). But some collections look like they out-do the Smithsonian Institute!

Just wondering............

General_Grievous
04-15-2007, 02:51 PM
I don't, but I should. I've got over 500 (loose) figures displayed in my room, from vintage all the way to the 30th Anniversary Collection.

Kidhuman
04-15-2007, 06:33 PM
I dont eitehr, but need to get it.

stillakid
04-15-2007, 11:22 PM
I don't believe that my insurance company (USAA) will cover this kind of collection. Stamps, coins, rare stuff...but toys? I don't think so, but am not sure. Would be nice though. I'm sure I'm over 1000 figures at this point with ships and playsets and other collectibles. Wouldn't even know how to price it for a value.

TeeEye7
04-16-2007, 12:18 AM
I don't believe that my insurance company (USAA) will cover this kind of collection. Stamps, coins, rare stuff...but toys? I don't think so, but am not sure. Would be nice though. I'm sure I'm over 1000 figures at this point with ships and playsets and other collectibles. Wouldn't even know how to price it for a value.

I dunno that they're "just toys". Imagine all the hard-core Barbie collectors, for instance. I would think these (toy) kinds of collections are becoming more mainstream these days. And insurance companies are always glad to take your money. There's gotta be one around somewhere. Companies insure celebrities' body parts....some of them are plastic, so why not SW toys?

CaptainSolo1138
04-16-2007, 09:04 AM
My collection is by no means of Smithsonian proportions, but when I asked my insurance company if I could take out additional coverage for them they told me it wasn't necessary because they'd be covered under my regular policy.

Droid
04-16-2007, 04:23 PM
My collection is by no means of Smithsonian proportions, but when I asked my insurance company if I could take out additional coverage for them they told me it wasn't necessary because they'd be covered under my regular policy.

They say that now, but you better have photos and lists of what you have at a place other than your house. If your house burned down and you said you had $10,000.00 in action figures good luck getting them to just cut you a check.

I'll bet you that they would also argue that the figures were not worth close to what you paid for them. Maybe a view vintage figures have appreciated in value, but most of the figures are worth pennies on the dollar now.

CaptainSolo1138
04-16-2007, 04:28 PM
They say that now, but you better have photos and lists of what you have at a place other than your house. If your house burned down and you said you had $10,000.00 in action figures good luck getting them to just cut you a check.

I'll bet you that they would also argue that the figures were not worth close to what you paid for them. Maybe a view vintage figures have appreciated in value, but most of the figures are worth pennies on the dollar now.I'm sure they would contest the dollar amount for exactly the reasons you stated. What I did was simply took out a larger policy than I believe I'll need to cover stuff like that. I think I have a $50,000 policy that I pay for every month. Since we just rent, I only need to worry about the contents of the structure.

pbarnard
04-16-2007, 04:31 PM
I think we have 25k on our apartment. We sat down and figured it out, in an absolute catastrophe, we would have about 15k to spend on things after the basics of bed and electronics were replaced. While it scares me to know end to have my collection with me for the first time in years, moving and losing stuff due to packing and lugging stuff and getting into an accident on the road seems more probable than losing it all in a fire/tornado (says after 1 year anniversary of a tornado locally)

bobafrett
04-16-2007, 06:03 PM
I had my insurance agent come by and we went over what was covered. He looked over my collection, and he put it in the policy. What he said wouldn't be covered was if it were to flood from rain waters, and my collection was to get damaged, then I wouldn't be able to collect, but if a sewagw pipe or other water pipe were to burst and my collection was damaged, then I would.

A friend of mine had a sewage pipe burst in his house, and his action figures were damged in, well, sewage. He had the stuff taken out to the garage where his agent came by and gave him Brians toys retail value for. He got a nice check, but I don't know that he bought more collectibles.

TeeEye7
04-16-2007, 10:08 PM
This is all very interesting. It's making me curious about which companies we're talking about that are savvy enough to insure the collections.

Is this being included in the home owner's/renter's policies or are they requiring a rider?

CaptainSolo1138
04-16-2007, 10:16 PM
I go through State Farm and it is included in my monthly renter's policy (which only costs me something like $150 a year).

jjreason
04-17-2007, 06:14 PM
I had a separate rider for comics/toys when I lived in Ontario the first time - but when I moved to BC my new company advised that it would be covered under my main contents (up to $200 per item).

Now that I'm back in Ontario, my house insurance is up again at the end of April. When I do the switch, I'll be asking again - and will remember to post the results here.

scruffziller
04-20-2007, 08:14 AM
I have renters insurance for 40k for everything in my domain.