Insurance for your collection?

[Metrotitan]

Hey all!

My friends, family and gf have all been hounding me to take out some kind of insurance policy on my +1000 figure toy collection (mostly Transformers and Marvel). I've been collecting 10 years , my suite is FULL of toys!

One fire and I am out many thousands of dollars!

So, does anyone here on the boards have any experience/ideas about taking out insurance on collectibles?

[Buhawi]

i'm curious about this one too. wouldn't this be covered under house insurance as well?

[Bruticus82]

Well, here is an older thread on the topic, although quite unhelpfully most of the information was transacted through pm...maybe they'll be more fortchoming this time around?

http://www.cybertron.ca/boards/showthread.php?t=4653

And here is an article from seibertron.com, it gets into insurance at the bottom of the first post, and then on page 4 an insurance person chimes in.

http://www.seibertron.com/energonpub...red-t34185.php

[racerguy76]

You would have to check(read) your policy to see what it actually covers. The standard house insurance (in Alberta) only covers up to $2500 in collectibles. I think it states comics or other "collections". To get it insured you may also need to get it appraised. At least have photographs of everything in case something does happen. At least then you will be given the max amount to try and replace some of it.

Your insurance company may have diffrent packages. Back in the day when I was graphic designer I had an insurance packaged that covered software I had for a million dollars. It didn't really cost anymore it just covered less of other things like no coverage on a garage(which I didn't have). I would suggest talking to a company different than the one you have your current insurance with, before contacting your current policy holder. I had my car insurance cancelled when I inquired about putting insurance on my race car for when it's parked and transported(on a trailer). The company would not deal with me because I raced cars.

[Buhawi]

i wonder how many of you got insurance for your collection.

i kinda agree with TTT

Originally Posted by TTT

There is always a chance that if they are insured and something does happen your insurer will usually find a way out of reimbursement.
They rarely come through when you need them....doesn't matter how much you've put into it.

plus this.

YOUR TOYS ARE TOYS!!! Listen and listen good. Your toys are NOT collectables. Want to get F’d in the A? Call them collectables. Learn about how you’re exceeding your collection limit with Brave Maximus alone.

and this.

If the insurance company can not determine the value of an item (and they won’t be able to do so for Transformers toys, especially vintage), they are going to accept your pricing and give you HALF of what you claim.

i think i dont even have half the receipts of my purchases. pictures i have tons but key to his is mostly receipts.

[Bruticus82]

Originally Posted by Buhawi

i think i dont even have half the receipts of my purchases. pictures i have tons but key to his is mostly receipts.

Anyone know how far back paypal keeps your payment history? Those would kind of be receipts...

[Tekkamanraiden]

It looks like they keep them 3 months.

[Buhawi]

Originally Posted by Metrotitan

Hey all!

My friends, family and gf have all been hounding me to take out some kind of insurance policy on my +1000 figure toy collection (mostly Transformers and Marvel). I've been collecting 10 years , my suite is FULL of toys!

One fire and I am out many thousands of dollars!

So, does anyone here on the boards have any experience/ideas about taking out insurance on collectibles?

is your collection, mostly MISB?

[Autobot_Orion]

Insurance for collectibles will protect some of your investment. It takes paperwork (collecting receipts , pictures). Even if you lost all material property. Starting over you'd have to put all that time, looking and you would never get that back. It's better to have insurance for anything you own, including yourself/family than nothing at all and usually doesn't cost very much.

Wait! you could also think of investing in a tf bunker/vault one that could withstand multiple direct fusion blasts from a Cybertronian Walther P38. That in my mind would be the greatest possible insurance.

[TFtoys]

Collectable/valuable or not, we all feel bad if something happened to our toys. Especially a major numbers of them are damaged or destroyed in the accident. An issurance can be handy at least cover some of the lost rather than nothing.