Just got my collection insured.

[loganm187]

After talking to many local insurance companies and hearing horror stories I found http://www.collectinsure.com and read tons of awesome reviews from collectors of all types. (Lots of Gun collectors swear by them it seems.) I got insured for over $50,000 for my over 3,000 game collection plus systems, accessories, etc. It's going to cost me around 20 bucks a month and covers about everything awful that could happen. I feel much safer knowing I have an insurance company that specializes in such a thing to rely on as it seems most of the companies don't want to mess with collectibles. I see this topic pop up from time to time and thought I'd share some info.

I will be posting tons of pictures of my collection soon for insurance purposes and for you guys to pick apart I assume lol. I dread making a damn spreadsheet of all my stuff. It was long overdue anyway. Just thought I'd share the news!

[bryan_65]

Thanks for sharing the info. Would a regular insurance company not let you have just a higher contents value?

[loganm187]

In what i have read everywhere they just put games in with dvd's etc and just pay a base amount per unit. So many horror stories. This isn't expensive and these people seem to know what they are doing.

[mjmjr25]

We had this thread awhile back and loganmn is right - video games are a set rate, as is...almost everything. Flooring, recliners, TV's, baseball cards, etc.

We flooded awhile back and everything was set rate - I had a complete 1992 Topps uncut set (Shaq's rookie year) and it was ruined - I figured i'd get market rate on it, about $600 at the time, and instead I was given something like $0.03 per card on the sheets, came to like $9 for he whole set. Our flooring was $4/sq foot and had just been installed. We got just over $2/sq foot.

I asked about my video games and while they were all fine - I asked her if they'd have been covered. We have 160K worth of insurance aside our actual home insurance and I always thought that was plenty, this $400 game is part of that 160K, makes sense, but that's not how it works. A $400 game by vgpc / ebay completeds / forum sales is meaningless. It's worth $2-3, depending on your insurer. Loganmn has 3,000 games - he has about $6K of coverage unless he does what he's doing.

[loganm187]

Yea, I never bothered getting anything insured because i know you just get screwed. I had no idea there was "Collectors insurance" Makes it easier to rest for sure. They even cover mail damage, Traveling with items to conventions, Theft. I was reading one forum about a guy who had some old bottle worth about 800 bucks shatter and this very insurance company sent him a check for the amount with no hassles.

[pvt_awol]

I figured i'd get market rate on it, about $600 at the time, and instead I was given something like $0.03 per card on the sheets, came to like $9 for he whole set. Our flooring was $4/sq foot and had just been installed.

A $400 game by vgpc / ebay completeds / forum sales is meaningless. It's worth $2-3, depending on your insurer. Loganmn has 3,000 games - he has about $6K of coverage unless he does what he's doing.

This is how insurance works, and is one reason why I'll never buy a salvaged title car. People like to say stupid things like, "You drive the car, not the title."

But as soon as some drunk rear ends you, your insurance company pays you pennies, since technically the car isn't worth anything. F'ing insurance companies. LOL. Good move on getting specialized insurance. Still though, doesn't it somehow unsettle you to know that you'll only get money for the games if anything happens? Since likely, most of your collection can't be replaced? That's the part that sucks. But I guess it is what it is.

[Luke]

Note* If you own a home and have an insurance agent who is knowledgeable, this kind of stuff can be included in your regular payment so you don't have to have collector's insurance.

But if you're talking about 50k of games, I agree that collector's insurance isn't a bad route.

[marurun]

Typically, if you have stuff that is valued above "market rate", you have to have it appraised and have a statement or certificate of the value of the item or collection, and you append it to your home insurance as an add-on. Doesn't affect the cost much, but you do have to photograph and document stuff. And you would want to keep your video game valuables separate from your rotating stock, because when it changes significantly you have to have it re-appraised and re-valued.

[skate323k137]

My renters insurance basically refused to consider specifically covering my video games and records. They tried to assure me I'd get fair value but I know it's bullshit. I carry enough renters insurance to cover it but I hope I never have to use it.

Otherwise you're looking at collectables insurance basically. Glad to hear you were able to get that set up; I might have to look in to doing the same.

[Omerta]

Plan B: Keep a couple of large Tupperware totes full of oXbox sports discs to make up the flat rate spread because you're too lazy to seek out insurance beyond homeowners/renters.