Collection insurance question

[Beth3346]

With all of the recent flooding here in Houston I've been thinking about insurance for my collection.

How would i go about determining the value of my collection?  I do keep track of how much I paid for each pony and when they were purchased but I'm not sure how insurance companies decide the value of collector items.

Also, am I able to insure my collection if I rent my home?

Any help/tips are appreciated

[apanda0622]

I rent a townhome and I have my collection insured separately from my renter's insurance.  I use Mini Co:  http://www.minico.com/

You do not need an inventory list unless an item is worth over $5,000.  I pay $133 a year for $40,000 of coverage, which I think is a pretty good deal.

[Nella]

Just wandering, when you don't have an inventory list how can you claim the pony's? I always thought that you need to proof what you owned. You can have a coverage of 40.000 dollars, but when the pony's are gone it will be hard to get that amount. Or am I wrong?

[apanda0622]

Just wandering, when you don't have an inventory list how can you claim the pony's? I always thought that you need to proof what you owned. You can have a coverage of 40.000 dollars, but when the pony's are gone it will be hard to get that amount. Or am I wrong?

Its specifically collectibles insurance.  I have them insured as toys so if a loss occurs, I will probably have to show proof of the loss to the insurance company which will determine how much I will receive back.  It also matters if its a partial or total loss of the collection.  But as long I as I have paid the annual premium, I am guaranteed up to $40,000 worth of coverage if a loss occurs.

EDIT:  As far as value, I might have to get an appraisal of what was damaged if a loss occurs to submit to the insurance company.

[DrEsmeRose]

Hmm, I might look into this. We have MtG cards, Ponies, Warhammer 40k minis, my Renaissance Costumes, lots of art/prints, and stuff from my time abroad... I wonder if could get something like this to cover those. 

[lovesbabysquirmy]

Ahhh here is some info:

Posted Jan 2016: http://mlparena.com/index.php/topic,375853.0.html

Posted April 26 2016 (just a few days ago):
http://mlparena.com/index.php/topic,378522.0.html

 *searches* Yes, looks like someone asks at least once a year. 

Here you are, hopefully this information is current enough for your insurance agents:

2012:  http://mlparena.com/index.php/topic,309802.0.html

2013: http://mlparena.com/index.php/topic,337403.0.html

2014: http://mlparena.com/index.php/topic,353986.0.html

2015: http://mlparena.com/index.php/topic,367867.0.html

[Tak]

I just got mine started, finally! Since I'm technically a renter we just raised the coverage to include the value of my collection. My premium only went up a little since I don't have a huge collection. Plus pictures and time stamped videos.

[Beth3346]

Thank you This information helps a lot.

I just remember everything being such a pain when my parent's house flooded back in 2001.  Thankfully we had flood insurance so we were able to fix everything. But i just remember it was difficult to catalog everything after the fact.  That's why I keep track of my collection obsessively.

I think i need to check if it will be covered under renter's insurance.  I think $40,000 coverage would be way high for my collection.  Its nowhere near that.  I have just over 400 ponies with some rarer Nirvanas.  Greek Ladybug and Brazilian Milky Way are the priciest by far.  Most are around $20.

I will look over the earlier threads.  Thank you Squirmy