Recommend
6 
 Thumb up
 Hide
31 Posts
1 , 2  Next »   | 

Wargames» Forums » General

Subject: Insuring Game Collection? rss

Your Tags: Add tags
Popular Tags: [View All]
United States
Apex
NC
flag msg tools
badge
Avatar
mbmbmbmbmb
I suspect the game collection is covered as a part of the homeowners policy, but given the value of games I HIGHLY doubt an insurance adjuster would be swayed to provide a reasonable valuation.

For example: Case Blue

Does anyone have any experience with this or have first hand knowledge about how to obtain a valuation for a boardgame collection that would be recognized by an insurance company?

I suppose I could call as well, but sometimes the collective knowledge of folks on the interwebs who might have firsthand experience is more accurate that what some random insurance agent knows (or more likely doesn't) from my local branch...
3 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Tony Doran
United States
Columbia
Tennessee
flag msg tools
mbmbmbmbmb
To the extent you are worried about it, take pictures of your games, and attach screenshots of prices from ebay or BGG.
7 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Jim Moss
United States
Arizona
flag msg tools
Avatar
mbmbmbmbmb
You can also introduce yourself to the random agent, explain your concerns, and make sure to collect whatever documentation their procedures would like you to have; I'm sure they have a set of guidelines for you. Games are likely to be far from the oddest item they've been consulted about for valuation and coverage.
6 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Roger Hobden
Canada
Montreal
Quebec
flag msg tools
Avatar
mbmbmbmbmb
It shouldn't be more complicated then any other valuable collection any person could have.

Keeping receipts is one way of providing proof of purchase; pictures are a way of establishing proof of possession.

Insurances will usually cover the price of acquisition, "as new", not necessarily the 'market value' of a specific wargame like Case Blue.

You definitely need to talk to your agent about the distinction between theses two values.
5 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Thom0909
United States
New York
flag msg tools
Avatar
mbmbmbmbmb
Jazzlvraz wrote:
You can also introduce yourself to the random agent, explain your concerns, and make sure to collect whatever documentation their procedures would like you to have; I'm sure they have a set of guidelines for you. Games are likely to be far from the oddest item they've been consulted about for valuation and coverage.


Ask him to play Case Blue with you.
15 
 Thumb up
0.05
 tip
 Hide
  • [+] Dice rolls
David Douglas
msg tools
Avatar
My insurance provider has a special policy addendum for objects of value (forget exactly what they call it) but it's for things like collections. I have my game collection insured with that and they just asked for an itemized list with prices.

They didn't question any of my pricing at all.
6 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Jeff Saxton
United States
Affton (St. Louis)
Missouri
flag msg tools
After all, gas can is my middle name. Eh, not really.
Avatar
mbmbmbmbmb
Ask about a "Fine Art" rider to your policy. That should cover just about anything anyone collects, from beer cans to books. They may ask for an itemized list -- but you really should have that for your own records anyway.

That's what I've got for my 3000+ book research library, and my specialty model trains.
4 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Steve Stanton
United States
Paoli
Pennsylvania
flag msg tools
mbmbmbmbmb
Mack_me_Bucko wrote:
Ask about a "Fine Art" rider to your policy. That should cover just about anything anyone collects, from beer cans to books. They may ask for an itemized list -- but you really should have that for your own records anyway.

That's what I've got for my 3000+ book research library, and my specialty model trains.


Or something to that effect. Homeowners policys generally will not cover collections, jewelry, etc., so you most likely would need a separate rider. Keep a current itemized list and proof of value/purchase cost.
2 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
United States
Apex
NC
flag msg tools
badge
Avatar
mbmbmbmbmb
The whole special rider policy piece is what got me thinking about this. Thanks for the speedy feedback everyone!
 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Robb Minneman
United States
Tacoma
Washington
flag msg tools
designer
badge
Jackasses? You let a whole column get stalled and strafed on account of a couple of jackasses? What the hell's the matter with you?
Avatar
mbmbmbmbmb
ddavidc wrote:
They didn't question any of my pricing at all.


They won't, because they'll insure you based on that value. If you feed them an over-valued collection, they'll just charge you more to make up for it.

When my wife and I bought her grand piano (an 1882 Steinway), I put a rider on it for the homeowners' policy. The agent just asked me how much it was worth (not what we paid for it!) and insured it accordingly.
1 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Colin Raitt
United Kingdom
Boston
Lincolnshire
flag msg tools
badge
Avatar
mbmbmbmbmb
Think of this like a game. Why insure them at all? On average, insurance companies make a profit, just like bookmakers. I have car insurance as the government makes me. I would avoid house insurance if the wife would let me. If it burnt down I could rent a place, I'd be worse off in that circumstance but its a low probability. I've got 180 games. I could replace the few I still play for £1000. So the best move is run the risk. Every month when your direct debits go out mentally mark up a win on your insurance premium. I'm Scottish by the way.
13 
 Thumb up
1.00
 tip
 Hide
  • [+] Dice rolls
United States
flag msg tools
badge
Avatar
mbmbmbmbmb
polate wrote:
On average, insurance companies make a profit, just like bookmakers.


Exactly. Every type of insurance is just you betting that something catastrophic will happen soon, and the insurance company covers the bet because they think it won't happen before they collect more than enough money from you.

3 
 Thumb up
 tip
 Hide
  • [+] Dice rolls

Pennsylvania
msg tools
badge
Avatar
mbmbmbmbmb
You will want to talk to your insurance agent directly on this one, as every insurance company and policy is different in how they cover collections and/or collectibles.

So, provide them exactly what you have (count and valuations), then let them tell you in the event of a loss, if and how you will get paid out on a claim against these items.

Remember, BGG members can only feel bad for you, if something bad happens and you made the wrong decision based on our collective "expertise".

In my specific case, I was required to have a rider tacked onto to my rather generous homeowner's policy - so the assumption without asking is that the large umbrella policy would have covered my games, but after they researched it with the policy and underwriters, the answer came back as a Nope, we won't.

For the additional $42 / year, I don't have to worry about an event that takes out my collection.

So, the devil (and the payout monies) are in the details. Please talk to your agent.
3 
 Thumb up
 tip
 Hide
  • [+] Dice rolls

Pennsylvania
msg tools
badge
Avatar
mbmbmbmbmb
gamesontables wrote:
I suspect the game collection is covered as a part of the homeowners policy, but given the value of games I HIGHLY doubt an insurance adjuster would be swayed to provide a reasonable valuation.

For example: Case Blue

Does anyone have any experience with this or have first hand knowledge about how to obtain a valuation for a boardgame collection that would be recognized by an insurance company?

I suppose I could call as well, but sometimes the collective knowledge of folks on the interwebs who might have firsthand experience is more accurate that what some random insurance agent knows (or more likely doesn't) from my local branch...


and just so you know, this has been asked multiple times before, and guess what????

The answers are across the board. Some are just philosophical answers (NO! YES!!), some were based in fact which varied by the answerer's insurance company.

In short, each policy and insurer/underwriter are different, therefore until you talk to your specific company, anything answer provided by the well-intentioned BGGers isn't valid for you.

1 
 Thumb up
 tip
 Hide
  • [+] Dice rolls

Pennsylvania
msg tools
badge
Avatar
mbmbmbmbmb
gamesontables wrote:
I suspect the game collection is covered as a part of the homeowners policy, but given the value of games I HIGHLY doubt an insurance adjuster would be swayed to provide a reasonable valuation.

For example: Case Blue

Does anyone have any experience with this or have first hand knowledge about how to obtain a valuation for a boardgame collection that would be recognized by an insurance company?

I suppose I could call as well, but sometimes the collective knowledge of folks on the interwebs who might have firsthand experience is more accurate that what some random insurance agent knows (or more likely doesn't) from my local branch...


Valuation is a tricky thing, but I had to pull my own spreadsheet together with numbers from BGG and eBay sales for over 700 items. I then both filmed and took snapshots of the collection. Then again, I do that for all my possessions, but this one had to be more specific, since it was a collection.

Good luck. Take your time, but get it done. You never know when the hand of fate is going to smack you upside the head.

Once again, you need to ask your insurance company EXACTLY what they need in terms of proof / valuations for the collection they are covering.

2 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Mark Helton
United States
San Jose
California
flag msg tools
mbmbmbmbmb
When you ask your insurance agent about the coverage on your game collection, (and you really should), you don't need to ask them about whether it is covered, (it will be), but instead ask them the maximum value they will cover (without special coverage).

I found out about this when I was investigating how much they would pay for a stereo replacement. (If I recall correctly the amount for that was $2,500, which isn't even close to the value of my stereo.)

Insurance companies have maximum values on all your possessions, such as furniture, jewelry, clothing, stereos, televisions, artwork, etc. Most people don't have extensive collections of anything, so they don't exceed the maximums.

If you have been collecting games for the better part of your life, (like I have), you will probably only be able to replace a portion of them, unless you pay additional for special coverage.
(For me, the addition coverage is just not worth it, as I rarely play a large portion of my gaming collection. Assuming it survives me, (i.e. And the possibility of a fire), then my wife and daughter will be in for a nice surprise when they sell it, along with my music (vinyl) collection and my audio system. )

My two cents worth.
4 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
United States
Apex
NC
flag msg tools
badge
Avatar
mbmbmbmbmb
darthhugo wrote:
gamesontables wrote:
I suspect the game collection is covered as a part of the homeowners policy, but given the value of games I HIGHLY doubt an insurance adjuster would be swayed to provide a reasonable valuation.

For example: Case Blue

Does anyone have any experience with this or have first hand knowledge about how to obtain a valuation for a boardgame collection that would be recognized by an insurance company?

I suppose I could call as well, but sometimes the collective knowledge of folks on the interwebs who might have firsthand experience is more accurate that what some random insurance agent knows (or more likely doesn't) from my local branch...


and just so you know, this has been asked multiple times before, and guess what????


Insurance


Insure


Insuring


...and so you can see why I asked the question that I asked. I don't feel compelled to defend every post, but a) it's rude to assume that I didn't search ahead of posting, and b) you're making some broad statements about the validity of responses here which have been more helpful than not.

I appreciate your second response, but this one was just an attempt to shame me so I felt like it was worthwhile to expose that.
4 
 Thumb up
0.01
 tip
 Hide
  • [+] Dice rolls
Roger Hobden
Canada
Montreal
Quebec
flag msg tools
Avatar
mbmbmbmbmb
I have been on BGG since 2007, and have never noticed any thread on this topic before.

2 
 Thumb up
 tip
 Hide
  • [+] Dice rolls

Pennsylvania
msg tools
badge
Avatar
mbmbmbmbmb
gamesontables wrote:
STUFF


Well, having answered this exact question probably about ten times in the past, either I'm answering to another BGG site or your searches just aren't very good.

 
 Thumb up
 tip
 Hide
  • [+] Dice rolls

Pennsylvania
msg tools
badge
Avatar
mbmbmbmbmb
gamesontables wrote:
STUFF


https://www.boardgamegeek.com/spsearch.php?action=search&obj...


If you were to focus on the minuscule sliver that is the wargame sub, you are probably going to get squat from your research team.
 
 Thumb up
 tip
 Hide
  • [+] Dice rolls

Pennsylvania
msg tools
badge
Avatar
mbmbmbmbmb
Mallet wrote:
I have been on BGG since 2007, and have never noticed any thread on this topic before.



Wargame sub = .0000009% of site content.

Rest of site = Everything else.
 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
United States
Apex
NC
flag msg tools
badge
Avatar
mbmbmbmbmb
darthhugo wrote:
Mallet wrote:
I have been on BGG since 2007, and have never noticed any thread on this topic before.



Wargame sub = .0000009% of site content.

Rest of site = Everything else.


True, but why would I ask non-wargamers about insuring wargames? Something something apples & oranges....
2 
 Thumb up
0.01
 tip
 Hide
  • [+] Dice rolls
Damo
Australia
Hobart
Tasmania
flag msg tools
Look Up! Stay Alive!
badge
http://australianmuseum.net.au/Drop-Bear
Avatar
mbmbmbmbmb
polate wrote:
Think of this like a game. Why insure them at all? On average, insurance companies make a profit, just like bookmakers. I have car insurance as the government makes me. I would avoid house insurance if the wife would let me. If it burnt down I could rent a place, I'd be worse off in that circumstance but its a low probability. I've got 180 games. I could replace the few I still play for £1000. So the best move is run the risk. Every month when your direct debits go out mentally mark up a win on your insurance premium. I'm Scottish by the way.


I guess it all depends on individual circumstances.

I face a very real threat of losing my house to bushfire each year.

When we begin get the cooler, wetter weather around this time in March I start to lose some of the stored tension in my shoulders.

I own a few games that the replacement of would be a right &$@?$&!!!

Including them in our insurance is worth the piece of mind.
2 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Confusion Under Fire
United Kingdom
Warrington
Cheshire
flag msg tools
designer
Avatar
mbmbmbmbmb
polate wrote:
Think of this like a game. Why insure them at all? On average, insurance companies make a profit, just like bookmakers. I have car insurance as the government makes me. I would avoid house insurance if the wife would let me. If it burnt down I could rent a place, I'd be worse off in that circumstance but its a low probability. I've got 180 games. I could replace the few I still play for £1000. So the best move is run the risk. Every month when your direct debits go out mentally mark up a win on your insurance premium. I'm Scottish by the way.


Something else also to consider which might sound obvious but worth mentioning is that if you insure your collection for say $5,000 and it gets stolen, you receive $5,000 from your insurance company. You have $5,000 but no games and it's more than likely you won't be able to buy those games again or at the very least in the near future. The insurance premiums you will be paying is to receive a lump sum which might soften the blow but it wont replace your collection, might be something worth considering.
1 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
United States
Apex
NC
flag msg tools
badge
Avatar
mbmbmbmbmb
Damjon wrote:

I own a few games that the replacement of would be a right &$@?$&!!!

Including them in our insurance is worth the piece of mind.


I think that's just it. With classic wargames in particular, the threat isn't being out ~$50 a game...It only takes a few soapbox SPI titles or ASL content to be well into the thousands of dollars that might sit on a single shelf of a larger bookcase.

That's why I threw Case Blue into the mix because of its instantly recognized value. My copy isn't unpunched and I intend to play as much of it as possible (space & time-wise), but I'd hate to have to hunt down a copy without any reimbursement from insurance should I have a fire or (more likely) some kind of water issue.

Thanks for the great responses. I have a good direction to head with my local insurance folks and even some tips I got via GM that I'll be checking out as well.
1 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
1 , 2  Next »   | 
Front Page | Welcome | Contact | Privacy Policy | Terms of Service | Advertise | Support BGG | Feeds RSS
Geekdo, BoardGameGeek, the Geekdo logo, and the BoardGameGeek logo are trademarks of BoardGameGeek, LLC.