Canadian Transformers News and Discussion Forum

[Collectingtoys]

Yes, agreed. Well said.

Originally Posted by canprime

Also be honest with yourself.

You (the general you, not you specifically collectingtoys) need to assess your collection from an objective point of view.

If you have a lot of high value items (graded, MISB, exclusives) that can objectively be valued at a high price then specific collectibles insurance might be worth looking into.

However most of us don't have that kind of collection in toys. So it isn't worth the extra cost outside of standard home/tenant insurance.

Also be wary of any claim against your collection should the worst happen. Current secondary market prices may not be used for setting insurance payouts.

Say you have a Haslab Unicron. The original price was around $900Cdn, but current prices are closer to $2000Cdn. Depending on your policy, and even your adjuster, you may only qualify for a payout based on the original price. So in that sense a separate policy for collectibles may be worthwhile if you have enough high value items to protect your current collection value. Though the added monthly/yearly cost may not be worth it in the long run.

Either way if something happens to your collection that would eliminate most of it, I don't know that most of us would be that focused on that versus the damage to your home, and where you'll live in the future.