Quote:
Originally Posted by dapro
I know members here have some nice and expensive collections. Do you insure your collection? If so, with what?
I am curious I should insure mine or not. It is not a big collection but it is worth over couple thousands though.
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I never did but probably should have. i sold most of it off, but as with everything if you don't, you roll the dice. the vast majority of the time you will be okay, but if it is that one in 10,000 or whatever, then you wish you would have.
Most people that insure either have separate riders on their homeowners policy (as a normal homeowners policy doesn't cover valuable collections.) or else they purchase a separate policy from outside companies that specialize at insuring collections.
premiums go from nominal to substantial depending on the scope and worth of the collection and they might require you to have a safe or store it in a proper way in order for them to insure it.