Subject:
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Re: Insuring LEGO collections
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Newsgroups:
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lugnet.market.appraisal
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Date:
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Fri, 8 Sep 2000 18:31:43 GMT
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Viewed:
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1554 times
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In lugnet.org.ca.nalug, Steve Chapple writes:
> In insuring my contents at my new place, I described to the agent
> how many of the sets/pieces I have can't be replaced just by going
> to TRU with $5,000. Yes it would get me about the same AMOUNT
> of LEGO, but to replace the actual sets and pieces would take at least
> five times as much - if even be possible at all. The insurance company
> won't put $25,000 value on my collection without an appraisal.
> I explained that the most qualified person to appraise my collection
> is me, (since I know it's contents the best) followed by my friends
> in NALug, but the appraisal must of course be done by someone who
> is a neutral third party. Has anyone found a good way around this?
If you have a _list_ of all you have (I have a list of most of my sets, it's on
my web page), then you could tally the aprox current market value, and tag it
onto the bottom of the list. They might accept this...otherwise, get a
LUGNETer or NALug person to evaluate the list, and valuate it.
Most sets have a value associated with them, for example a single metroliner in
a straight buy (NIB) is $400-500 _USD_ now, less if bought at auction.
I've never really talked to my insurance agent about this...they kind of asked
questions when I said I wanted 100K on this place (it's rental, not mine). I
told them that I had a lego collection (along with a $10K railway engine), and
they asked if any individual parts of it were worth large sums of money, which
they are not...it is the collective amount of lego that is worth the $$$. By
my estimation, $35K CDN would not -replace- my current collection.
James P
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