Anyone Insure their TF Collections?

Discussion in 'Transformers Toy Discussion' started by RavX, Aug 28, 2009.

  1. RavX

    RavX Well-Known Member

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    So we had some pretty severe storms where I live last night, and it got me thinking about whether or not my TF collection would be covered through my Homeowners insurance or not in the event something would happen to my house.

    My collection is small and meager compared to most that I have seen on these boards, but no matter how big or small a collection it is someones time and money invested in it. So - anyone gone above and beyond the norm to ensure their collection is protected? Is there even specialized insurance for collectibles?

    I'm just generally curious if anyone else thinks about this kind of thing or if I'm just crazy :) 
     
  2. Counterpunch?

    Counterpunch? Interior Renovator

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    Yes, but it's covered under my renter's insurance.

    I actually upped my policy value to make sure it was all covered.

    There's a LOT to know about how those policies work...anyone else with a large collection would do well to make themselves informed.
     
  3. Napjr

    Napjr <b><font color=gold>Mr. Internet</font><br><font c Veteran

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    It would be nice if someone could provide more info about insurance of our collections and whats the best way to get a correct value for all the stuff... i guess you need to show the current value of each figure or what?
     
  4. Sioce

    Sioce Radicon in training

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    When I was setting up my homeowners insurance, I researched what I felt were the most important parts of my collection to find the highest price out there for them.
    I have everything in my house insured and itemized w/pictures.
    I lost my entire collection to a fire when I was a bit younger, I collected TFs, Spawn, and GI joes.
    I could not stand to go through that again. My wife was irritated that when asked what our insurance should cover I brought up my toys....
     
  5. MagnusMaximus

    MagnusMaximus Active Member

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    Wow, I never considered insuring my collection, as limited as it is at this time. This information is invaluable!
     
  6. Counterpunch?

    Counterpunch? Interior Renovator

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    I did such a thing a while back.

    The first portion is about some common questions about what light/sun/smoke would do to toys, but the second half is personal experience in dealing with an insured collection, policies, and the system in general.

    Some other people contributing to the discussion work for insurance companies and provide other good bits of information, particularly, Homer.

    Energon Pub &bull; View topic - Terrorists are coming for your toys! (I ain't scared...)
     
  7. QmTablit

    QmTablit Disguise: Check. Robot...

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    Hopefully, if I can get this house in October (I'll find out in a week or so) I'll set up some HOI with my collection in mind. It's meager, but it's still been gently accumulating for the past 15 years.
     
  8. ChErikS

    ChErikS Well-Known Member

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    Mine is insured as a part of my homeowner's insurance. I believe right now its covered for $12 grand. So long as I maintain up to date collection pics online I have enough proof to collect should something happen to it.
    Adding it had almost no effect on my premium, less than $20 a year. State Farm is far more concerned with the possibility of having to replace the house as a whole.
     
  9. SMS55

    SMS55 Well-Known Member

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    If you are a homeowner you have to make sure you get the right coverage. If you have a mortgage you are probably going to be covered. Your lender wants to ensure you have comprehensive coverage to cover any loss including total loss of the house. Just make sure the value is enough to cover your personal property. The bank only cares about replacing the house if it burns to the ground, or a storm blows it away. Their is also another type of policy that only covers structure, and anything attached to the structure. It's covers of course exterior, and interior walls, but it won't cover for example your appliances because it is not attached to the structure. That's usually what I get when I am fixing up a property. If you are renter you need to get renter's insurance. The homeowner's policy won't cover your stuff. Now to ensure proper payment make a video inventory of your collection. It is the best way to ensure the insurance company pays. They love to weisel their way of paying but with a video showing all your perosnal items ( in this case Transformers), and an inventoried list they can't say that they don't know what you had.
     
  10. Th0r4z1n3

    Th0r4z1n3 The F*cking Lizard King! Veteran

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    Wow I haven't thought about this in a while. When I first joined the boards there was a discussion thread going on about this exact same thing but my collection wasn't that large at the time so I wasn't too worried about it... now it might be a good idea though. There's a company that specializes in just this if I remember right, I'll have to do some digging around and see if I can find that thread again.
     
  11. RavX

    RavX Well-Known Member

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    These replies are great! I think I'm going to start working on cataloging my collection this weekend and get the pictures somewhere online .. thanks for the contribution so far! I'm glad to see its not a far fetched idea.
     
  12. ams

    ams Generation All Veteran

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    Had mine as a rider on my homeowner's insurance... covered for $100K, a fraction of what it's worth, but still affordable from an insurance standpoint.

    Now that I have to rent storage to contain everything, it's covered to a certain amount under their insurance. Not as much, but something, at least.
     
  13. Nemesis_Dirge

    Nemesis_Dirge Banned

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    Collectibles Insurance - Protecting Books, Stamps, Antiques and other Rare and Vintage collections in Baltimore, Maryland

    This is the link someone provided back then about a company that insures collectibles...i never have looked into it...probably should....
     
  14. Hyperoptic

    Hyperoptic G1-Junkie

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    Yes, mine is insured
     
  15. masishadow

    masishadow Well-Known Member

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    I know cigarette smoke is bad but what about cooking smoke. My girlfriend is chinese and always always pan fries everything. Lots of smoke sometime. My collection is in my living room next to the kitchen, but I always keep it completely covered with a sheet to make the indirect sunlight even more indirect. Should I move it?
     
  16. Counterpunch?

    Counterpunch? Interior Renovator

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    Not sure, but I had the same exact situation at one point and I did move my stuff away from the cooking area (we were in a very small temporary apartment).

    I mean, there are oils and stuff that collect when you cook like that. Take a look under your range hood sometime...
     
  17. nsr46gamer

    nsr46gamer Well-Known Member

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    My one friend was robbed once when he was on vacation. They took his insanely massive g1 collection. He had hundreds of em' in really good condition, and most MISB. He was devastated about the whole thing and didnt have it insured. It was terrible.
     
  18. masishadow

    masishadow Well-Known Member

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    Yeah, going into my bedroom tonight then.

    What's the best way to "bathe" your transformers to make sure all the oils are cleaned off of them.
     
  19. Counterpunch?

    Counterpunch? Interior Renovator

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    Easy.

    With 4-5 of your hottest female companions.
     
  20. masishadow

    masishadow Well-Known Member

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    I'm not talking about one's personal flesh transformer with its mass displacement abilities.
     

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