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Discussion in 'Off Topic' started by stevan5150, 10/26/12.
Does anyone here have their collection insured? If so how do I go about it?
I talked to my insurance agent the other day about it. They want pictures and receipts etc. Sounds like a lot of hassle but it's valuable enough at this point I've got to do something.
I just tried to....Called State Farm to add a "rider" to cover my collection and stereo....listed every pair I have with serials and realistic replacement costs. Took pics of every pair and of my collection as a whole. Sent everything to my agent for the underwriters to review. They came back with a big, fat NO! Said specialty items like that cannot be covered by a rider. My collection would be covered as a whole under my homeowners insurance. Basiclally, with no receipts you're screwed. PayPal history COULD possibly be an option as long as the item is in the description of paid for items......In the event of a burglary, the underwriters could "research" what similar pairs sold for and reimburse me for that much. Basically just hope to god your collection is never stolen obviously...especially the rare items....because it sounds like getting reimbursed to replace what you once had will be hard. God help the poor bastard that comes in my house when I'm home to steal my collection....as I'm quite sure most everyone here feels the same way.......
Ive added mine to my HOP. For me it was pretty easy and didnt require details. Just a few photos of the collection and a blanket $40k policy. If it becomes more valuable than that, details are required.
look into getting a personal article policy, as for homeowners insurance, you can only schedule persoanl property like jewelry, furs, cameras, silverware, musical insturments, golf eq, stamps and fine arts, and coin collection. if you want proof of your collections in a loss, just tell your claims rep to check your oakley forum memeber profile with pictures of all the sunglasses you own, that should be proof enough!!! That what I would do.
It's funny because the majority of our collections are worth a lot more than some of the stuff you listed that they would cover. Golf clubs but no sunglasses?
Mine are covered with my homeowners policy.... They just needed some pics and an estimate of value.
What companies are you all using to home owners insurance? Which companies are the more problematic when it comes to this type of concern?
USAA would cover with separate Riders policy. All they require is a basic description and estimated value of each.
State Farm just told me no specific coverage for my collection...but it would be covered as part of the homeowners policy and subject to those deductibles. They did say they could up the overall value of the homeowner policy...hmmmm.
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