[Closed] Collection Insurance

Steve, it is best to use a specialist insurance company for your collection.

My State Farm agent said that it was part of the household items coverage. It's important to have records or an inventory to support your claim in the event of a loss.

specialist insurance in the US can be very $$$ (ie, do you want 10 new diecast or insurance?)

Someone once recommended a company in MD I believe.

Since I procrastinated I don't remember it...Collectible Insurance, perhaps?

When we lived in Dallas from 2005- 2007 my insurance agent from whom we bought our insurance policy as we rented a house told me my collection would be covered if I kept documentation of my collection and the value of each model as close as I could document.

I seem to remember that we had a discussion on this....

awhile back. I had done a web search to uncover only two companies at the time that specialized in collectors insurance but like Karl said, it was quite expensive. My homeowners insurance at the time would only cover a small amount irregardless of how much the collection was worth. Unfortunately after the fire last winter, I had lost quite a few models, though the majority were the ones I had planned on selling and had them in my home office, readying them for photos and listing on eBay. My estimate was placed at about $4K in loss and home owners only paid a couple hundred, enough to buy a replacement (used) computer. I knew I should have gone the expense of collectors insurance but, we all know what hind sight means, don't we!

Collectibles Ins Services Hunt Valley MD

I have been using them since the 90's and they are great to deal with.

I am so sorry - this is too close to home for you, as the saying goes.

Thank you, I'll get on it this time.

Ouch, Peter, that's terrible..

Collection Insurance-Responses

Thanks everyone for the response, I'll check into the MD company. I'm talking a value of well into six figures from 50 years of collecting including a lot of 1/43rd handbuilts that would be irreplaceble. So I need to do something.

I did the online application.

I was quoted $61 annual for $10K coverage. I thought that was pretty fair.