Is your game collection insured?

[JDB]

it's covered with my home contents insurance

[mick_aka]

It's covered as a separate entity on my contents insurance for £10,000.

[Bramsworth]

So when you get insurance, who puts the value on it exactly? Is the owner allowed to write any crazy number they want?

[mick_aka]

Every company is different, but I put down the number of individual items then an estimated cost to replace it all (I put £15,000) with a few photographs, then an assessor comes out and verifies that the collection exists and is being kept in my property.
The eventually they agreed on £10,000 cover for it.

They do ask a few questions if you want something very valuable insured, I wanted our millitary badge collection (the largest private collection of RAF insignia in europe) Insured for £50,000 so I had to go through getting it valued by a specialist and eventually they settled on a value of £25k for insurance.

Personally I dont think I would replace all of either for the insurance ammount.

[kgenthe]

So when you get insurance, who puts the value on it exactly? Is the owner allowed to write any crazy number they want?

You could get a $50k insurance policy if you want, but if your lose all of your stuff, the insurance company is only going to "make you whole." If you didn't have $50k worth of stuff, then you wasted your premium dollars.

The insurance company will replace all of your stuff (replacement cost) to make you whole. If you have a 10 year old couch, they will give you the funds to buy another 10 year old couch. Not a new couch (most policies are replacement cost).

There are a few things that have specific limits, like jewelry and antiques. And you will have to purchase additional insurance (called "scheduling") to make sure those items are fully covered. I am not aware of any policy that has limits on old videogames. It just covered under the basic policy.

[Phantar]

I got home contents insurance, so that should be covered (unless I store my video games in a leaky shed...)

[mick_aka]

Beware, having been victim of both flood and fire in the past I know that general contents insurace with simply class old computer games as 'obsolete items of insignificant value' and give you a token payout.

[akator]

Standard insurance has limits, such as $5K on electronics. That wouldn't even cover our computers. When getting our homeowner's insurance, we specifically requested a higher amount for electronics. They agreed to a maximum of $75K for electronics coverage, which should be more than enough. It only cost $5 more a month.

Even so, if anything were to happen I'm sure the insurance company would balk at payment. Even with "proper coverage," it is extremely important to document everything.

I have detailed records in a database of everything I've purchased, when, and for how much. There are also photos of everything, all stored in the cloud.

[dbtmellis]

You don't want this to happen to you

http://www.facebook.com/photo.php?pi...&id=1779812036
http://www.facebook.com/photo.php?pi...&id=1779812036
http://www.facebook.com/photo.php?pi...&id=1779812036


This is a pic of my old Apartment. This was 1:30am on April 26, 2008.
Some Dumbass just tossed his cigarette into a pile of dry pine needles. Total Loss was $40,000. In the first pic, The area where the Fire truck is spraying water is right into my bedroom.

[dbtmellis]

Dead link sorry

[pejjie]

Home owner's insurance and good records and documentation of what I own lets me sleep easy at night. No need to insure it further.

Yes, I agree with what you are saying. I will also be getting home insurance. I live in a building where a lot of robberies have been happening recently and I need to be insured.

[gamevet]

I keep reciepts of every game and system I've purchased. It really worked out when my apartment was ripped off @ the year 2000. We even claimed stuff we didn't own, to balance out the losses and came out pretty good with renter's insurance. I don't know if my home owners insurance will do the same though.

[SF78]

The contents insurance covers up to 45.000e ($58.000) and includes up to 9000 ($11.700) of "collectibles", or something of that sort. I'm sure that's enough, no doubt I've spent less than 2000e on my whole collection. And it only costs around $120/year.

[gamevet]

The contents insurance covers up to 45.000e ($58.000) and includes up to 9000 ($11.700) of "collectibles", or something of that sort. I'm sure that's enough, no doubt I've spent less than 2000e on my whole collection. And it only costs around $120/year.

I believe you're confusing your numbers here. Is that $11,700 (Eleven thousand, Seven Hundred dollars) or $11.70 (Eleven dollars and 78 cents)?

[TidalTempest]

I've got general home owners insurance on it. I doubt my collection is worth more than $5000, but I suppose I should check it.