Insurance & Securing toys - tips, questions and options (browse whole topic)

[kristofferrer]

EDIT by ADMIN - this is a combined topic of various questions and advice about insuring toys, and recommendations/experience on Insurance companies and policies... including Valuations for Insurance.
And on a related point, notes on securing your collection from theft, as Insurance is generally for any type of Loss.

This is something that we probably should be noting or announcing from time to time, for the benefit of the newer members and guests.

As with any valuables, if you have a growing collection, or some pricey pieces, remember to secure them (and your house in general).... and as always, be careful with how you publicise them* and who you let into your house if you don't yet know them, even if they appear to be a fellow fan. Until you trust someone who has access to your house, always secure and watch over your valuables - toys or not.
(*this is why some sections here are not visible to non-members, to protect members who don't want the public to know what they own and where they live)

It doesn't even have to be someone claiming to be a toy collector either, as TV shows like Toy Hunters is educating non-fans into the potential value of vintage toys that people here are collecting. If something is small and publicly known to be valuable, toys, jewellery, electronics or cash, they become a target... so...
- Document everything you own,
- Secure it,
- Restrict or Supervise Access, and
- Insure it.

-----------------------
-----------------------
Hi Everyone,

I'm not sure if this has been a discussion in previous threads (haven't been able to find any traces of precedence so i thought i'd bring this up).

I was wondering how people have insured themselves for loss or damage for their TF collection?

I've found NRMA to be relatively cheap (approx $400-500+ annually which covers about $9900 of items); Anything in excess of $9900 requires a valuer. I'm not sure if this is the way to go so I was hoping for somebody to she some light or share their experiences on this.

[Hereticpoo]

Itemise your figures, photograph them, Insure for REPLACEMENT Value. Bigger Collections will need to have an inventory supplied to insurer. Everyone's insurer's will be different. Shop around.

To point out the importance of insurance....our CFO refused to put security screens on sea containers converted into tool sheds. (containers fitted with window, air con, shelves etc)

The $220 we saved on not putting them on cost us $1.5 million in equipment theft. The insurance report concluded the containers weren't secure. CFO was fired. (which i was/am secretly happy about!)

[The_Damned]

just wondering if people have their collection insured and if so who with and what did you have to do?

i did have it insured now with the commonwealth but now after 5 years they now decide to tell me it isn't.

so any help would be appreciated

thanks

Ben

[Lordy]

I'm sure it is possible. My parents have things like antique clocks and cameras individually insured on their policy.

The first thing to do is take photos of the collection, and find a guidebook which you can get an idea of what the value is. Make notes of it and send it to your insurer and see what they have to say.

I have had comic books stolen off me, and the insurance company, after taking out the premium, were happy to pay me for it without photos or documentation.

[Tabias Prime]

I'm not sure if this has been covered before in another thread.but i have seen it bought up in another thread somewhere and i cant remember where i saw it so i thought I'd start one.

My wife is looking at swapping our content insurance and was wondering what experiences and problems others have had in insuring there Transformers collection.I dont have a huge collection(Somewhere around 100) but i would be a bit pissed of if it was stolen or lost in a fire.What insurance companies are the best, which ones are the worst for insuring a collection and what they require you to do to have it insured.I'm sure I'm not the only one who could benefit from the vast knowledge of people who have larger collections and have been collecting longer than i have been..

[GoktimusPrime]

There are already two threads about this subject in the Discussion section:
http://www.otca.com.au/boards/showthread.php?t=4421
http://www.otca.com.au/boards/showthread.php?t=4644

Board staff: would it be possible to merge these threads?

In answer to your question, as others have said, I think itemised home content insurance might be the way to go.

[pheonix83]

im with AAMI, and have listed my transformers as an item with a value in the thousands.

this didnt cost me anything more to my premiums.

they recommended i take photos and itemize my collection just in case as well.

[Doubledealer]

I called up the NRMA and asked them to insure my collection for $5000. They added the details to my home contents insurance (didn't cost any more on top of my annual home contents fee) and sent me a letter confirming everything.

[kristofferrer]

Gok - how do you find previous threads like that (really impressed)?

anyway - i'm with NRMA, covered for $10 000 worth of collecatbles.
Anything in excess of this and you'll need to get a valuer to quote the insurable value of your items.

[GoktimusPrime]

Gok - how do you find previous threads like that (really impressed)?

I used the board's Search Forums function:

I clicked on "Advanced Search" and the rest is straight forward from there.