Game Collections & Insurance...

[disgaeniac]

I've just recently begun to start thinking about insuring my game collection.

I've never actually tried to 'appraise' it, or anything (btw - if there's anyone here who's actually good at & enjoys doing things like that, and they just so happened to feel like looking through my collection for me

...I wouldn't mind at all...

Also:

(1).  Has anyone here already insured their collection?   (I don't mean that as in it just being covered by a standard Home-owner's policy, either...but as in specifically and individually insuring just the game collection).

(2).  In your opinion, you'd "suggest that you start looking into insuring a collection once it's worth _____ $"? (Obviously, most people wouldn't even think about it (and again, I'm totally just guessing here)/that's why I'm asking you all:) until it's worth...at least...~$5,000.00 or so (?.?.?).

(3).  How, exactly, did you go about doing this?  (I'm assuming pics/videos, receipts, etc).

(4).  Have you found any particular insurance companies to be noticeably better/worse than others?

*(5)*  Lastly, just any of your general thoughts, attitudes, opinions, tips, points, discussion, suggestions, etc.

Thanks, VGCollect Community!!!

 

[jcalder8]

My wife is an insurance broker and she checked into it when we first got married. It is all just covered under the contents and not insured separately. She followed up with the insurance company to make sure that they didn't have a maximum for digital media, this is normally only for movies but she wanted to make sure that this didn't include video games. She found that there was no maximum for coverage of video games but it is something to look into.

Something to keep in mind about the value of your collection is that it is the value if it had to be replaced in full today. The amount that I have spent is about a 5th or 6th of what it is actually worth according to the insurance company. This means that you need enough coverage to buy everything again today. For example my copy of Dragon Force only cost me $5 but for it to be replaced today it would cost about $100 so the replacement value is $100.

[disgaeniac]

LOL!

Nice, having an in-house insurance-broker 

[varkias]

I consider my collection covered by home owners insurance.  If I were to buy something like Air Raid or a Championship cart I would get it insured separately.  IMO... I take photographs about twice a year of everything in my home and store them securely online.