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Insurance - Protecting a physical collection


Luseth
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So my collection probably isn't as big as some of yours on here but I was curious as to what if anything you have done regards to covering your collection? I know some people take it as a given that it's covered on your house insurance so I've started creating a spreadsheet with everything on and the intention to take photos so I have some record of it particularly as I spotted the weekend some of the prices and realised I have a nice little money pot growing if you like.

 

Do any of you insure your collections? Is that even an option?

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It may depend on your insurer. I inquired years ago — decades, now that I think about it — because I had a reasonable sized collection of what wasn’t at that time “retro” to speak of, but now is. Comment from the insurer was that as it was a collection that had its own distinct value, it would need to be listed separately, documented etc to be covered in event of fire, burglary, whatever. From memory it *slightly* bumped up the premiums, but not by much (and nowhere even near replacement costs, obviously).

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It's worth asking your insurers about. Like @loathsomeleopard, I used to have a lot of games and, when I asked, it went one of two ways: the insurer either considered each console, game and accessory to be an individual item, so would be covered as standard as long as the total cover was enough to include it all as well as the rest of your stuff. Or, the insurer would consider it a collection and it would be insured as a single, high value item. Collections of one description or another are really common, so insurers have ways they deal with them.

 

It's worth doing exactly what you're doing and itemising to get an approximate value and then speaking to your insurer to see how they handle collections, if it needs adding as a separate item and what it does to your premium. 

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I was robbed a few years ago and for insurance purposes they were considered individual items 

 

actually listing what was stolen was a total ballache though. 
 

Using Amazon marketplace to get your prices on the other hand...

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