UK Freaks - Are your collectibles insured ?.

I might have asked this before a few years ago but a friend of mines house has just had a huge flood and it worries me something like this could happen to me and my collectibles. I need to get insurance for these things really , is there any company out there someone could recommend that wont quote me a ridiculous price.

Does your house insurance cover anything?

Mine is just a rider on my house insurance.

The Ween said:

Does your house insurance cover anything?

Mine is just a rider on my house insurance.

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yep, mine too. They'll even cover the cost of replacement in those cases where the item value has increased on the aftermarket.

I've got conetent insurance on my house, should cover it

Has anyone in Australia got insurance for their collection?
I 'thought' i had for years till i found a loophole, most insurance companies will only insure up to $2000 of a 'collection' as part of house contents, and others flat out refuse.
Its so frustrating dealing with insurance companies and trying to explain this stuff.

Uncanny Web-Slinger said:

I've got conetent insurance on my house, should cover it

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Should?!
Check it out as you may need additional cover for collectibles.
Most policies have a max value per item and overall payout limit.
I upped my 'high risk' cover and it didn't cost much.

Darth Con said:

Has anyone in Australia got insurance for their collection?
I 'thought' i had for years till i found a loophole, most insurance companies will only insure up to $2000 of a 'collection' as part of house contents, and others flat out refuse.
Its so frustrating dealing with insurance companies and trying to explain this stuff.

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I was specifically advised by GIO to not insure these things as a 'collection'. As soon as you do, you leave yourself open to all sorts of conditions such as the one you just mentioned.

I was advised to simply ensure that the total H&C value covers every replaceable item in my house.

Lejuan said:

I was specifically advised by GIO to not insure these things as a 'collection'. As soon as you do, you leave yourself open to all sorts of conditions such as the one you just mentioned.

I was advised to simply ensure that the total H&C value covers every replaceable item in my house.

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Every year upon renewal i used to ask insurance, more than once while on the phone if they needed a list, photos etc of my collectables, and they would say no its fine, until one year i asked and they said yes we require it, spent about 3 weeks compiling it, sent it off, and they came back with the whole 2k only thing, with which i replied cancel my insurance.
So do you have an itemised list you give to GIO in the event that something MAY happen?
Have they given you anything in writing to support the exact clause referring to home contents including your collectables?
Im just wondering cause i wouldnt trust these insurance companies as far as i could throw em.
if you want PM me to discuss more?
Am struggling to find insurance for my stuff, so help would be appreciated.

Darth Con said:

Am struggling to find insurance for my stuff, so help would be appreciated.

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I have specific high value items itemised only - so wedding rings, musical instruments etc. But when I put to GIO that I should itemise my 1/6 collection they said that they didn't require a list. In the event of a claim, all I have to do is provide proof of ownership - which could be a photo of the item and a receipt - and if the item has increased in value, then at least two quotes from (for example) ebay. They treat these things like any other item, ie they cover the replacement cost on any stolen or damaged item.

The way they put it to me was that it didn't matter if it was a power tool, ipad or 1/6 figure, it would be replaced under the terms and conditions spelled out in their policy document. So I didn't get anything in writing, but I've asked them a few times so I can get the spiel from different consultants, and they've all said the same thing - refer to the policy document.

My previous insurer AAMI on the other hand wanted all sorts of documentation. I haven't had to make a contents claim with GIO yet, so I can't vouch for their trustworthiness unfortunately. but I've made a couple of claims on my vehicle and they have been really easy to deal with.

I don't have my own list, but I know exactly what I've got in my collection because I've bought every single piece of it online so have the paypal and CC receipts if needed. I've also got enough pics if they need these too.

Thanx Lejuan, i might give GIO a call.

uscmhicks said:

I might have asked this before a few years ago but a friend of mines house has just had a huge flood and it worries me something like this could happen to me and my collectibles. I need to get insurance for these things really , is there any company out there someone could recommend that wont quote me a ridiculous price.

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Move house if your in a flood area, or move them upstairs if you have an upstairs?
Seriously though
I don't trust insurance companies either and couldn't tell ya what the cover is in the uk for collectables, but as others have said, pictures and paypal receipts, should be good enough, in the event you need to claim.
I've worried about theft more than flooding, but as with a board members recent break in, scum seem more likely to take what they can grab quick and flog down cash converters.
Is tricky though, as there might be a loophole with what is covered and terminology used.
They might class them as toys and not collectables and have a standard payout.
Might be a nightmare trying to represent the value of the custom figures, as you they can't do a quick search on ebay to compare prices.

Darth Con said:

Thanx Lejuan, i might give GIO a call.

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..and you get right back to me if those bastards tell you any different

Lejuan said:

..and you get right back to me if those bastards tell you any different

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okie doke.

Darth Con said:

Has anyone in Australia got insurance for their collection?
I 'thought' i had for years till i found a loophole, most insurance companies will only insure up to $2000 of a 'collection' as part of house contents, and others flat out refuse.
Its so frustrating dealing with insurance companies and trying to explain this stuff.

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Just do what I do bro...Estimate what your collection is worth and just ad that dollar value on to your contents. At least that way if your house burns down your insurance will have to pay the agreed value on your house contents regardless what it is.. Who says they have to now what's in your house..