Insurance

[martz8]

Does anyone know of an approved valuer of Diecast models for insurance purpoposes ?
Any info would be gratly appreciated.

Marty

[Rascot]

When I Got My Contents Insurance I Informed Them Of My Model Car Collection They Said That It Would Be Covered Under The Contents Policy As Long AS I Had A Up To Date List Of My Models . What I Do Is Print Out A Piture Of The Models I Have Off The Biante Order Site It Has All The Info And Just Write The Certificate No. On Them .

[martz8]

Thanks for that Rascot I'll keep that in mind.

Marty:)

[Aussiecollector]

Beware of Insurance Co jargon, check the fine print, most will only insure a collection for a total of $10,000.00 without the valuation as long as no one piece is worth more than $2,000.00.

My advice is ask lots of questions get them to put it in writing in plain english and make sure that you don't have to provide special security.

Believe me as a Business owner and a Collector, Insurance companies are only in it for themselves. We took 6 months of our time and hard negotiating this year to get a policy for our business that was not stacked in favour of the Insurance Company and in the end it cost me 600% more than last year.

With any collection pieces you need to up the current Market / Retail value by at least 50% to cover rises, especially for rarer cars.

Glenn

[timbo333]

I suggest you use an Insurance Broker and advise tham that you have an extensive model collection. This puts the onus on them to ask for the correct information from the insurer and you as the insured.

A general valuer should be fine....such as Edward Rushton & Co.

You could always get up-to-date prices/value from a model shop. Your insurer should accept this if the collection valuation is in writing.;)

Whuile your at it have a look at your music collection.......probably have huge sums of money ties up in that as well.