|
Post by andycole on Aug 23, 2005 10:25:15 GMT 2
I've just re-read Mike's interview in the new (great) section and noticed that he said he didn't have his collection insured. "Who in their right mind would want to steal some old games?"
That's a very good question, and I think you'd be surprised how knowledgeable burglars are about collectables. I've seen a program before about a burglar who recognised valuable items in a collection (in this case model cars) and he cherry-picked the most valuable ones which were boxed. I think it's quite obvious even to a burglar that a display case full of neatly presented items is a 'collection' and that it must be worth something.
Then there's the risk of fire or flood etc.
I have my collection insured separately, it was only about 20 pounds extra per year or something.
Andy.
|
|
|
Post by pulse8 on Aug 23, 2005 12:56:23 GMT 2
Funny, I was about to start a thread on the same topic (Great minds, eh Andy ) I don't have my collection insured, and now that you all have the co-ordinates to my house, maybe that's even less of a good thing! I've definately thought about it, but what sort of value do you place on such a collection? Have any of you other Aussies done this, and how did you go about it? I think this is an integral part of a collection that many of us may have overlooked. What would happen if you lost your collection overnight? (Not wanting to put a jinx on any of us, of course!) But would you start over? Could you afford to? Could you be bothered? As much fun as I have had with the whole G&W experience, I dare say my answer to these questions would be "no". pulse8
|
|
|
Post by mpanayiotakis on Aug 23, 2005 20:17:12 GMT 2
Andy, interesting topic this one. Burglars are usually interested in common valuable stuff, items they could dispose off easily for a nice price. Stealing some old boxed games wouldn't do them any good unless they can find someone who's willing to pay the money they're worth and this someone must be a collector. Which in turn means that unless they break into your house to get your games, they probably wouldn't be interested in them.
I suppose insuring your games wouldn't be such a bad idea but not for the reasons you think. Since we all paid large sums of money for our collections, it makes sense to insure them against fire or other disasters that may put your collection in danger.
Andy, can you give us the terms under which the insurance company would have to compensate you in case your collection is destroyed ?
Michael
|
|
|
Post by andycole on Aug 24, 2005 9:45:02 GMT 2
Without looking I don't know the terms, I just know that they are insured for loss by any means, whether it's theft or damage, and that they are listed as a specific item on my insurance, with a value attached (Can't remember the amount but it probably needs reviewing!) Andy.
|
|
|
Post by andycole on Aug 26, 2005 9:51:51 GMT 2
OK, I spoke to my insurance company yesterday, coincidentally, and the collection is mentioned separately but not covered for a specific value. As long as any single item is not worth more than 5000 pounds, it's covered amongst the other house contents. They advised me to have it noted separately, though, which I've done. So the easiest way to make sure you're covered is to just add an amount for what you think the collection is worth on top of your 'contents' amount. If should make very little difference to the cost of your insurance. (Well, in my case it didn't as my collection isn't as valuable as some others!) They also said having a written and photographic record of the items would help in a claim, which is no problem as we all have websites! Andy.
|
|
|
Post by mpanayiotakis on Aug 26, 2005 13:08:50 GMT 2
Hmm.. interesting Andy. Does that mean that they will cover you up to 5000 pounds in total or up to 5000 pounds for each item ? Do they have to take your word for the value of these items or in case of a claim they would have to do some research on their own ?
Michael
|
|
|
Post by andycole on Aug 26, 2005 17:36:32 GMT 2
5000 pounds each. They say that it's only antiques or works of art that have to be specially insured, anything else is just covered as long as it's within the insured limit. Knowing insurance companies, they won't pay out without some hard evidence, which is why you should have written and photographic proof of your ownership. Of course, no game that I can think of is worth 5000 pounds, so you should be OK. What game is worth the most, though, I wonder? I think I'll start a new thread..... Andy.
|
|