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Discussion Starter · #2 ·
:confused I was just wondering. In a case of an unfortunate event that takes out things that mean a lot to you, would you consider your diecasts something worth insuring? Can diecasts even be insured if you wanted to declare them by value? Has any one heard of this or is currently doing this?

:feedback :cheers
 

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I think it'd be a good idea, but no, I don't have them insured. :scared
 

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I have a "rider" in my home owners insurance that covers my diecast. Ask your agent about. It is no different if you had any other collectibles, guns, furs, jewelry, etc. It is a very nominal yearly fee like $100, but I am not sure since my wife handles the bills. :lol It's great peace of mind to have.
 

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acisne said:
I have a "rider" in my home owners insurance that covers my diecast. Ask your agent about. It is no different if you had any other collectibles, guns, furs, jewelry, etc. It is a very nominal yearly fee like $100, but I am not sure since my wife handles the bills. :lol It's great peace of mind to have.
Thanks Al for that suggestion. That's a pretty nominal cost for a huge piece of mind.
 

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One thing that was highly recommended by my insurance agent was to prepare a video tape of your belongings within your house. This serves as "proof" of what you actually had in the event of a fire, etc. I would presume this would be good advice for a substantial diecast collection as well as all your other belongings.

:cheers
 
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Discussion Starter · #9 ·
Thanks to Al and Ric for those suggestions. :cheers

I just started working for an insurance agency and was getting ready to ask my boss that question. :giggle

Anything that you can use to prove the presence of your belongings as evidence always helps.
 

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ricallen said:
One thing that was highly recommended by my insurance agent was to prepare a video tape of your belongings within your house. This serves as "proof" of what you actually had in the event of a fire, etc. I would presume this would be good advice for a substantial diecast collection as well as all your other belongings.

:cheers
Good point Ric, I have a couple of 30-minute video tapes in a safe place. I think that Allstate calls it Scheduled Personal Property to their insurers.
 

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acisne said:
Good point Ric, I have a couple of 30-minute video tapes in a safe place.
:lol

Guess I neglected to mention the fact that it is a good idea NOT to keep the tapes where they can go up in smoke with all your belongings!! :giggle
 
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Discussion Starter · #13 ·
ricallen said:
acisne said:
Good point Ric, I have a couple of 30-minute video tapes in a safe place.
:lol

Guess I neglected to mention the fact that it is a good idea NOT to keep the tapes where they can go up in smoke with all your belongings!! :giggle
:lol Very true.
 

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I have mine insured as part of my HOUSE & CONTENTS INSURANCE, which covers collectables up to $5000 for each collection which at the moment I think I am just a little bit over.
I will have to get extra cover and list all cars and costs to get this cover and have to pay a premium ontop of our current insurance policy.
 
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Discussion Starter · #17 ·
I have vehicle insurance for each of my diecasts just incase they you know, get into a fender-bender HeHe. Seriously though I'm gonna look into it now I'm moving on up away from the budget models. . . .I have plenty of pictures of my diecasts as proof. . . .I'll even show the insurance a pic of the Enzo I don't have yet . . you think it'll work LOL.
 

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I do this, as well. I took a physical inventory, plus digital pictures, and submitted it to my homeowner's insurance carrier. If I did not have the "rider" on my coverage, my loss would be limited to only a percentage of my entire household belongings (tv's, stereo's, clothes, jewelry, etc.) At last inventory, I estimated the value of my collection to be approximately $15,000. The additional coverage is about $200 per year (or the cost of two or three good models).

:goodpost
 
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Discussion Starter · #19 ·
:iagree

What Jim says is correct. If you do not declare or "schedule" your models and their value, if something were to happen - God forbid - you will have to settle with whatever the insurance company thinks it should pay you. :cheers
 
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Discussion Starter · #20 ·
Mine are just covered by household insurance, although I keep all the sales receipts (since 1998), just as a backup in case I need to prove anything.
 
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