Subject:
|
Re: Lego Insurance?
|
Newsgroups:
|
lugnet.general
|
Date:
|
Tue, 16 Nov 1999 18:04:47 GMT
|
Viewed:
|
599 times
|
| |
|
|
In lugnet.general, Karim Nassar writes:
> In lugnet.general, James Brown writes:
>
> > There was a thread on this not all that long ago:
> >
> > http://www.lugnet.com/general/?n=8302
> Thanks for the lead. Two reaction I have to this thread, having read most of
> the posts just now...
>
> 1) For those people who simple accept that their collection will be covered
> under the general policy, If you have a very large collection, I have a
> feeling that the company may well balk when you tell them that you lost
> thousands of dollars worth of toys...
Yeah, I'm inclined to agree here. As with any other 'unusual' or large
collection - meaning anything the average family isn't likely to have -
document it, and ask your agent about it. If he says it's covered, get it in
writing. Video tape works great. Every few months, go through your house
with a handycam, and store the tape in a safe deposit box.
> 2) Most of the really practical suggestions involved looking up the values of
> sets... however, in my case, that wont work. To give you an idea, I have 24
> 7-gallon rubbermaid tubs full of pieces... 12 divided bins of technic parts,
> and 2 18" x 18" x 18" cardboard boxes full of parts that haven't been sorted
> yet. I have documentation of perhaps 50 to 60 sets, which accounts for only a
> very small percentage of my total collection.
>
> --Karim (still looking for a solution)
I'd suggest two things, one of which (or both) should give you decent value
for your collection:
Using some of the "xx pounds of Lego!" auctions on e-bay, estimate the value
of your collection. For the more specialized bits, you might want to use
Auczilla or MA, or one of the large parts sellers (Baylit or another) to work
out an estimate of how much it would take to replace those parts in volume.
In fact, Todd probably has that information already, but I imagine he's leary
of just giving it out, because it holds a lot of value, and represents a lot
of work.
Another possibility, and one that I'm looking at, is to use retail pricing.
Estimate the percentage of your collection that comes from buckets, from sets,
from Technic sets (etc), and then use a retail 'price per piece' average from
say a dozen of those sets, and just figure out the value of your collection
that way. If you document it out, your insurance broker should be willing to
grant the value based on current retail.
I suppose which is better depends on how much of your collection is easily
replaceable.
James
http://www.shades-of-night.com/lego/
|
|
Message has 2 Replies:
 | | Re: Lego Insurance?
|
| (...) I don't know about, and certainly can't speak for, Todd, but I know that some people wouldn't give out this info just to keep it from falling into the "wrong hands" and becoming part of a Lego Price Guide. Though, insurance purposes would be a (...) (25 years ago, 16-Nov-99, to lugnet.general)
| | | Re: Lego Insurance?
|
| (...) astronaut),any instructions/boxes you have and any sets still in the box. -- Jonathan Wilson wilsonj@xoommail.com (URL) (25 years ago, 16-Nov-99, to lugnet.general)
|
Message is in Reply To:
| | Re: Lego Insurance?
|
| (...) Thanks for the lead. Two reaction I have to this thread, having read most of the posts just now... 1) For those people who simple accept that their collection will be covered under the general policy, If you have a very large collection, I (...) (25 years ago, 16-Nov-99, to lugnet.general)
|
10 Messages in This Thread:
  
 
- Entire Thread on One Page:
- Nested:
All | Brief | Compact | Dots
Linear:
All | Brief | Compact
This Message and its Replies on One Page:
- Nested:
All | Brief | Compact | Dots
Linear:
All | Brief | Compact
|
|
|
|
