Subject:
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Re: Insurance Appraisals
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Newsgroups:
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lugnet.market.appraisal
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Date:
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Sat, 24 Feb 2001 00:36:14 GMT
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Viewed:
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1656 times
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James Seibert wrote:
>
> I been in the Lego deep sleep for the past few months due to school. I need
> advice for insuring my collection. I would appreciate any suggestions.
Unfortunately, no one has yet owned up to really figuring out how to
properly insure their collection. I guess it will be sad news when we
find out, because at the rate Larry and I are going (both of us have
been publicly saying "gee we need to do something") at least, someone's
house is going to burn to the ground before we find out (and that person
ISN'T going to have the coverage they need - I almost guarantee you that
the insurance company will balk when actually pressed to pay out for a
large collection - some folks have gotten instructions from their agents
that their normal policy covers them, but I'm really guessing that a
collectibles insurance rider will be necessary).
I think part of the problem will come down to lack of sufficient
knowledge to get a proper appraisal. Since our hobby isn't big enough to
have professional appraisers or price guides, or anything like that,
there's nothing for the insurance company to work from.
I hope that when disaster strikes, it's someplace near one of the big
time eBay LEGO sellers. Having someone who can demonstrate a huge number
of eBay sales giving their opinion of the values claimed will help a
lot.
Frank
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Message has 1 Reply:
 | | Re: Insurance Appraisals
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| (...) G'day James, I guess I should look into this as well sometime. As my policy has been explained to me by my insurance agent, I am covered for the actual replacement cost of anything I lose. I just tell them how much total coverage I need for (...) (24 years ago, 24-Feb-01, to lugnet.market.appraisal)
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Message is in Reply To:
| | Insurance Appraisals
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| I been in the Lego deep sleep for the past few months due to school. I need advice for insuring my collection. I would appreciate any suggestions. (24 years ago, 20-Feb-01, to lugnet.market.appraisal)
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