Subject:
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valuing lego for insurance purposes
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Newsgroups:
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lugnet.general, lugnet.loc.au
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Date:
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Thu, 6 Jan 2005 14:32:40 GMT
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Viewed:
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1780 times
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I have a large collection of lego including sets purchased new, sets
purchased second hand and parts (some from sets I have bought and kept only
some parts from but most from second hand sources).
The parts are in various levels of quality (some are
chewed/damaged/whatever, some are as good as if they were straight out of
the box)
I have insutrctions for the sets (plus some insutructions purchased loose
off bricklink)
How should I come up with a value for my collection that reflects its true
value and (more to the point) that the insurance company will accept.
And what should I do as I acquire more lego to make sure that that if the
worst happens I get the full value of my collection?
Right now the insurance company has no value for the collection at all and
if the worst was to happen, I would probobly get a lot less than the true
value back (or worse, nothing at all) so I would really like to know what
to give/tell the insurance company so my precious collection is protected.
(x-posted to .loc.au to get insight from other aussies and how they handled
insurance issues with respect to their collections and anything specific to
australian insurance companies and australian regulations etc)
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Message has 2 Replies:
 | | Re: valuing lego for insurance purposes
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| (...) Easy: Ring your current insurance company and ask what they will accept. (A good point to start at will be a list of purchases and how much you paid. Receipts would be good too. Keep in mind that Lego might not be a particularly risky (...) (20 years ago, 6-Jan-05, to lugnet.loc.au)
| | | Re: valuing lego for insurance purposes
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| (...) I have my LEGO collection insured under a special collection agengy insurance. I tried to have my renter's insurance thru ALL STATE give me a quote but they did seem to understand that my collection of lEGO was worth $20,000. They wanted to (...) (20 years ago, 7-Jan-05, to lugnet.general, lugnet.loc.au, FTX)
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