Getting my collection insured

[shimmlight]

I was thinking about having my collection insured from theft/fire damage, but don't really know how to go about doing it. I was wondering if anybody else has done this and what they did to ensure that each pony was insured for the right value. Is it worth doing? I don't have anything super rare like nirvanas or MOC's but I do have quite a lot of ponies which would cost a lot to replace if something happened to them. I live in the UK if that makes a difference.

[LadyPinwheel]

I have my collection in the insurance that covers the contents of the house. I have thought of doing it as an individual insurance too, but I just don't know where to start from.

[Mirnyj]

I've incorporated them to the value of my home insurance too.

[baby_gusty]

I´m in the process of making an inventorylist which I consider using to insure my collection. I´m aksing for PC´s here, searching the forum for old PC´s and looking at ebay. The only problem I've come across this far is the problem of finding a valuer! In Sweden I´ve asked all kind of toyexperts but they work with older toys so they can´t help me... My insurancecompany says if they would be damaged in fire they are incorporated in my homeinsurance and they would replace the toy with an equal toy. But they can´t tell me if for instance Mimic would be destroyed I would get a new Mimic in value or a new Pinkie Pie fresh from store...

[Aednatia]

I´m in the process of making an inventorylist which I consider using to insure my collection. I´m aksing for PC´s here, searching the forum for old PC´s and looking at ebay. The only problem I've come across this far is the problem of finding a valuer! In Sweden I´ve asked all kind of toy experts but they work with older toys so they can´t help me... My insurancecompany says if they would be damaged in fire they are incorporated in my home insurance and they would replace the toy with an equal toy. But they can´t tell me if for instance Mimic would be destroyed I would get a new Mimic in value or a new Pinkie Pie fresh from store...

If you list a mimic with a picture- You get a mimic! or you can sue You shouldn't need an appraiser all though it could help. The insurance company has to take your word if you provide proof or not and if you show them a receipt after you bought an item asking for reimbursement, as long as you haven't gone over you limit, you shouldn't have troubles.

I asked my insurance company after my last kitchen fire. (Statefarm) They recommend a pictures and the office I go to will keep any records of valuables in any form for I choose (still have one for yourself in case their office burns down) One large group pictures or smaller groups as long as everything is visible. Then they want a list of everything in the pictures. Name of pony, year you bought it, and the price you paid (I always include shipping as part of this price and always round up 1$) they will then use the year you bought it and give you the depreciated value and reimburse you the difference when you buy a new one and show a receipt (includes ebay/paypal receipt) you can list the shelves too and they will reimburse you them.

[shimmlight]

I´m in the process of making an inventorylist which I consider using to insure my collection. I´m aksing for PC´s here, searching the forum for old PC´s and looking at ebay. The only problem I've come across this far is the problem of finding a valuer! In Sweden I´ve asked all kind of toy experts but they work with older toys so they can´t help me... My insurancecompany says if they would be damaged in fire they are incorporated in my home insurance and they would replace the toy with an equal toy. But they can´t tell me if for instance Mimic would be destroyed I would get a new Mimic in value or a new Pinkie Pie fresh from store...

If you list a mimic with a picture- You get a mimic! or you can sue You shouldn't need an appraiser all though it could help. The insurance company has to take your word if you provide proof or not and if you show them a receipt after you bought an item asking for reimbursement, as long as you haven't gone over you limit, you shouldn't have troubles.

I asked my insurance company after my last kitchen fire. (Statefarm) They recommend a pictures and the office I go to will keep any records of valuables in any form for I choose (still have one for yourself in case their office burns down) One large group pictures or smaller groups as long as everything is visible. Then they want a list of everything in the pictures. Name of pony, year you bought it, and the price you paid (I always include shipping as part of this price and always round up 1$) they will then use the year you bought it and give you the depreciated value and reimburse you the difference when you buy a new one and show a receipt (includes ebay/paypal receipt) you can list the shelves too and they will reimburse you them.

How exactly does this work? Would it not be based on the value of the item rather than what you paid for it? For example, I paid £3 for Ice Crystal but obviously his value is much higher than that. Also I can't remember where/when I bought a lot of my ponies from. Would I need a proof of value from the purchase? Or just a price guide?

[MorningGlorysParadise82]

I toy with idea from time to time. My problem with inventory is that I still have many of my childhood ponies from the 80s. So records for prices paid is not available. There might be one or two that still have a price on their back cards,  but that may not be accurate....how do you value a childhood collection?

[ringwraith10]

I´m in the process of making an inventorylist which I consider using to insure my collection. I´m aksing for PC´s here, searching the forum for old PC´s and looking at ebay. The only problem I've come across this far is the problem of finding a valuer! In Sweden I´ve asked all kind of toy experts but they work with older toys so they can´t help me... My insurancecompany says if they would be damaged in fire they are incorporated in my home insurance and they would replace the toy with an equal toy. But they can´t tell me if for instance Mimic would be destroyed I would get a new Mimic in value or a new Pinkie Pie fresh from store...

If you list a mimic with a picture- You get a mimic! or you can sue You shouldn't need an appraiser all though it could help. The insurance company has to take your word if you provide proof or not and if you show them a receipt after you bought an item asking for reimbursement, as long as you haven't gone over you limit, you shouldn't have troubles.

I asked my insurance company after my last kitchen fire. (Statefarm) They recommend a pictures and the office I go to will keep any records of valuables in any form for I choose (still have one for yourself in case their office burns down) One large group pictures or smaller groups as long as everything is visible. Then they want a list of everything in the pictures. Name of pony, year you bought it, and the price you paid (I always include shipping as part of this price and always round up 1$) they will then use the year you bought it and give you the depreciated value and reimburse you the difference when you buy a new one and show a receipt (includes ebay/paypal receipt) you can list the shelves too and they will reimburse you them.

How exactly does this work? Would it not be based on the value of the item rather than what you paid for it? For example, I paid £3 for Ice Crystal but obviously his value is much higher than that. Also I can't remember where/when I bought a lot of my ponies from. Would I need a proof of value from the purchase? Or just a price guide?

I wonder this, too. I take a lot of pictures of all of my collections, just in case, but I haven't kept records of the prices I paid for everything! And what if something is potentially one-of-a-kind, like, say, a rare MOC Nirvana (not that I have any of those laying around!)?

I have renter's insurance, which is supposed to cover "valuables," but my insurance agent really, really sucks. I need to get a new one but I've been too lazy/haven't found the time.

[lockette]

I'm also curious about declaring prices. I have no idea how much I paid for many of my G1s. are you just out of luck without some kind of receipt?

mine would be included with general home insurance but I often think about getting a specific insurance for my collection just in case.

[Stormness_1]

I think an appraisal would be just as valuable as a receipt. I try to keep photos, and values, but it's really hard to keep up with a large and always-growing collection. I have about 50 ponies that haven't been photographed or appraised yet, not to mention the other ponies' fluctuating values. eek! One of my housemates also has a collection (movie memorabilia), so our collections are included in the contents insurance, but it's a lump value under 'collectables', I really need to get that sorted.

[Princess Lala]

I would eventually love to do this when I get a house! I plan on moving a little to the north where there is actually bad weather in the future. To be honest, I would probably more than likely loose my ponies/dolls/toys due to theft or wild fire than tornado.

[LunaDehligt]

sounds like something i would do when i live in a house

[hathorcat]

It will largely depend on the value of your collection and whether you wish to keep it inclusive of your home contents (assuming that is in your name) or if you wish a stand alone insurance.

I used to include it in home contents until it got to the value point that the insurance company were uncomfortable with it.  Lots of insurance companies will have written into their policy that you can have a collection of "something" which combines to a total value of no more than X and has no single piece worth Y. So your best first step is to speak to your home contents insurer and find out what those values are. Then you can decide whether you want to keep it as a part of that. Home contents insurers typically dont ask you to break down the value of everything you are ensuring as long as you give them an over view of anything unusual. After all you are setting the "value" of what you will be entitled to so its your call whether you ask for a higher value due to your collection or not (it doesnt bother the insurance company...in fact it just allows them to charge you a higher premium).

If you dont want to factor it into your home contents then there are lots of specialist insurance companies in the UK - some who actually focus on collectors and even on toy collectors. There policies may be more than just sticking it into your home contents but the policies cover more issues. Depending on total value and individual item value, often they only want an overview of the collection and will charge you  per thousand price for your policy.