Subject:
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Re: Lego Insurance?
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Newsgroups:
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lugnet.general
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Date:
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Tue, 16 Nov 1999 23:07:09 GMT
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Viewed:
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510 times
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James Brown wrote:
> 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/
I would explictly list your rarest parts (say if you have a forest wrench or nasa
astronaut),any instructions/boxes you have and any sets still in the box.
--
Jonathan Wilson
wilsonj@xoommail.com
http://members.xoom.com/wilsonj/
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Message is in Reply To:
 | | Re: Lego Insurance?
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| (...) 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 (...) (25 years ago, 16-Nov-99, to lugnet.general)
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