Do you carry insurance on your collections?

Discussion in 'Transformers Toy Discussion' started by Arkvander, Feb 23, 2010.

  1. Arkvander

    Arkvander Optimal Optimist TFW2005 Supporter

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    After seeing the "How much have you spent on your collection?" thread it got me to thinking about if many of you have your collections insured. Especially those of you who have spent in the tens of thousands of dollars. The reason I ask is because regular personal property insurance will not cover "collections" in the event they are lost. You must purchase an amendment to your current policy in order to cover anything defined as a collection.

    So lets say your collection goes up in a fire. Even if you have photographic or video evidence an insurance company will most likely deny any claim that pertains to the 'value' of your collection if you haven't purchased (I believe it is called) Collectible Insurance (but it is actually a subset of personal property like fine jewelry and art). Now of course you're probably not that worried about your collection if you no longer have a house, but I just thought it would be interesting to know since for many of you it is a sizable amount of money. I know there are some companies that exclusively offer collectible insurance but just FYI, most times you can just endorse your current policy and it will most likely be cheaper for you.

    Oddly enough, with all this information at my disposal, I do not have my collection insured.
     
  2. Counterpunch?

    Counterpunch? Interior Renovator

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  3. Phil

    Phil Well-Known Member

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    Nope, my collection is mostly just modern stuff anyway so I could replace most of it if something happened where I absolutely had to.
     

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