Anybody insure their pony collections?

[gigglingponies]

Hi all,

I've recently became worried about my collections, I have over 400 ponies and 200 breyers which would be a big problem to replace if they ever became ruined. I was just wondering if any of you use an insurance agency to insure your ponies or breyers or whatever. I'm really worried loss due to fire, theft, water damage, etc. I just want to make sure I get a good company/policy. So if you have feedback about any company good or bad let me know, the company I'm looking at right now is Collectibles Insurance Agency.

Thanks for any comments

 

[SailorLibra]

I'm gonna claim my collection if anything ever happens to it under my renter's insurance in case of fire, theft, flood, etc. So basically, yes I've got mine insured. That's a lot of money to try to recop if something was to happen. it's hard enough trying to find them all again.

You know you can also claim your collection as a tax writeoff on your expensives for your "hobby" each year if your total you spend goes over a set percentage.

 

[TraderTif]

*waving* I'm in the process of taking inventory and filling out the application, using the same company you mention. (CIA)

I'd love to hear about other people's experiences also!!

Tif =

 

[dinobuzz]

I once asked my insurance company about insurance on my Boyds Bears...I can get a separate insurance on them and would replace them in case of any of them getting broken or destroyed for one reason or another...whereas the house insurance would just give the money to replace all the contents in the house that got destroy from an unfortunate event such as a fire or flood.

 

[mlpgirlmd]

You guys really want to check with your insurances. I have to have pics of everything as well as value to claim. I don't have to have a special policy or anything but I do have to have those items. Also my mom's insurance requires what I did in addition to a seperate policy as collections on her home owners are considered anything over $500 and not covered otherwise. So please do some investigating never assume you are covered!

Just a FYI!

Beth

 

[chateaushelton]

In order to add collectibles & antiques on our homeowners policy (We have AAA) The insurance requires a complete portfolio of the collections (detailed pictures & descriptions) and an appraisal by a licensed collectible/antique appraiser/dealer for value. Once the policy is in place, if any pieces are added - you have to do the same thing to add them on the policy, otherwise they aren't covered. Also, if the value increases significantly on any of the pieces, you should have it re-appraised, just to be on the safe side.

BTW - Appraisers are not cheap - at least the ones around here (Philadelphia area) aren't. Most want $75 (min) just to come to your home, then they charge $$ for time looking at your stuff, time for research, ect... (contemplates career change)

Not to mention, our premium would increase about 10% annually to have "collectibles" coverage.

 

[ashlyne]

CIA is probably the easiest way to go. My collections (and my hubby's) are insured through them. We haven't had to file a claim yet *knocks on wood* so I can't say how great or bad they are when that happens, but the deal sounds really good after reading over the fine print.

They don't require you put together a listing of everything with individual values - just a general name for the collection and the total value (ie, Vintage My Little Pony Toys: $6,000 ). But if you need to file a claim, like if you had a flood, you would need to be able to prove what you lost and prove the buy-back value. So I'd keep any reciepts from Paypal on big purchases, keep a list and individual values on everything anyway, maybe have a video or photo diary on all of it and keep copies of everything some place away from home.

With CIA you do pay for the lump year's payment which kind of hurts, but it's still very reasonable. Plus, they automatically adjust for a 10% value increase yearly, which you can accept or deny when it comes time to renew the policy.

If you do try to insure through your home owners policy, be sure to get flood insurance. You might think that plastic toys will hold up under water, but it's just as bad as a fire.