Should i get seperate toy collection insurance ???

[megoman]

Hi Guys
My collection is growing and I have some fine examples that have cost me over the years and every now and then I wonder whether I should have some sort of special separate insurance.
I am sure that some of you have thought the same
Are your collections covered by your household contents insurance ? or do you have some separate cover ?
Perhaps you could recommend a decent insurer who specialises in this field
Any advice would be really appreciated guys
Thanks
William

 

[sith-smith]

I have to have separate cover.

My contents insurer refused to cover my collection...in fact it is stipulated in my policy that my collection is not covered under them!

 

[palitoyjunky]

Must be an American insurance company Gary. Kenner only! None of this Palitoy crap! :lol:

 

[Mr-shifter]

Insurance companies are arseholes. If you look around you will find companies that specialise in this kind of thing. Mainly insuring things like antiques and classic cars and such. What you want to get, but it is more expensive, is an insurance for a set amount. Ie your insurance starts on 1st jan for example, runs for one year and insures your collection for £10000. There is then no arguing as the market value has been set. You may need to find proof of value prior to the insurance being set up, but once they have agreed it you are safe.

We use a company called th March to do the mrs engagement ring. It's not hugely valuable but if anything happens to it then if it was to be covered on the home contents all we would get is vouchers to the value of the ring to use in a high street jewellers. The ring has a gia certified diamond in it and I know I couldn't get the same on the high street, so this insurance costs £50 per year and pays a set figure, but I have to get a valuation each year and submit it to them.

People generally just get a policy that they think they need. You have to read the small print as these guys are sly. As for your home contents, it's worth making a list room by room every few years of what you have and approx value. You would be surprised what you have and being underinsured causes all kinds of headaches.

 

[megoman]

Thanks Guys
you have been very helpfull

 

[Anonymous]

I was just looking into this and saw this old thread. Do many on here have insurance for there collections now?

I have seen this recently:

https://www.hiscoxcollections.com/

The cover seems pretty reasonable and does not require and inventory. It's just a bulk cover for a collection.

Does anyone have this? What's the norm?

Cheers

Dave

 

[spoons]

I'm still on contents insurance, which stipulates no one item is over £2k. There was discussion over it's value as a collection but as the 'collections' value doesn't himge on any one piece this was irrelevant

 

[Anonymous]

That sounds like the same conversation I had with my contents insurance people. I have a couple of higher end items, but not that high.

Cheers

Dave

 

[Jez]

Same as above.
I confessed all to my company but don't have one piece which is worth that much.

 

[Richard_H]

Are you kidding me? :evil:


That Chief Chirpa MOC that Grant and I lovingly restored is a one of a kind!

 

[Jez]

Oh my God you are right! My insurance quote was well before that life changing day. That is a true Grail piece which you can't put a price on!
Thanks for the concern Rich. I'll look into it