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Subject: Game Collection and Insurance - What do you do? rss

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Ben Cox
United States
Kirkland
Washington
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So, this weekend an interesting thought came to me.

I was reviewing my collection and realized that at ~250 titles I have a pretty nice setup. But then, my (evil) brain jumped into a little mental math, and assuming $30 per, I gasped to think I've sunk at least $7,500 into this hobby! Of course, that was over a period of 20+ years, but still, that's quite an investment.

Now, the purpose of this thread isn't to brag, but to ask a question of my fellow geeks: Do you have a separate rider on your insurance for your game collection? Or did you increase your insurable amount through your homeowners / renters' policy? Or do you simply hope for the best and don't even bother with insurance?

My collection doesn't comprise any 'Holy Grail' games (I don't think), but I do believe that it would be difficult to replace all of them should the unthinkable happen.

Thanks in advance for your recommendations. I'd appreciate learning what you do, so that I might learn from your experience.
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Seth Owen
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I did the math for my collection, too, and came up with a high number that surprised me as well.

The problem I think is establishing a proper value. Unlike more established collectible hobbies like coins and stamps, I'm not sure what the rule would be. Are games more like books? Can you get insurance that provides replacement value or would it be based on the depreciated value?
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Keith "Boaty McBoatface" C
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I've got renter's insurance, which covers everything in my apartment, but I don't have the games itemized. If you're concerned, talk with your insurance agent.
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Joe McKinley
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San Jose
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Take pictures of your collection so you have a record. Store those pictures outside of your house. You should be able to get full replacement value** of the collection, but only if you have every game documented with either pictures or purchase receipts.


**The cost to replace the game or the original MSRP, whichever is lower.
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Davido
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It's usually covered under general property insurance (we go up to 50,000 USD). It's a good idea to print out a list (use the export feature of My Collection) plus maybe a "shelf pr0n" photo or two and file w/ the agent ahead of time.
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Rick Weckermann
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Insurance is like making a bet, you put money down and usually hope you win. So i have not made a bet that my collection will burn, be stolen, or get flood damage.
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Northern Rommel
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nastycleavage wrote:
Insurance is like making a bet, you put money down and usually hope you win. So i have not made a bet that my collection will burn, be stolen, or get flood damage.


While some insurance companies do not take it seriously (since it allows them to screw you easier when you make a claim) I would personally get your insurance agent to have an evaluator in to put a price on the games. Better find someone yourself who can do it for you.

Many tenant insurance policies do not cover "collections". You have to tell them you have one, itemize it, rate it, price it, and make sure they have a copy. They may then force you to get added insurance to cover the "collection", which you should and make sure they put in writing that they will cover it without and overall deductable coming into play.

Like the other poster said -- even with your bases covered its a dice roll.
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Keith "Boaty McBoatface" C
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Renter's insurance is usually cheap if you get in conjunction with another plan. I've got my car insurance and with discounts, my renter's insurance is pretty much free through the same company.
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Christopher Ivie
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I work for a major insurance company in the U.S. What you want to do is "schedule" your games. This is a process of itemizing each individual game with a replacement cost price listed for each game.

The insurance Underwriter will review the list and may ask some questions needing you to justify some of the values you indicated the games were worth. Ebay or BGG should suffice. However at least for the company I work for scheduled property is such a money maker for the company (because of the increased premium involved--I've seen homeowner or renter policies double in their cost because the owner decided to schedule every jewelry, firearm, DVD, music CD and electronic item in the place) that they rarely balk at the review and they just push it through no problem.

It's time consuming, a little pricey, and obviously it may not be worth listing your copy of the kids Candyland game. But ultimately if the house burns down or a very bright (with good taste!) thief comes and knocks off your collection, you will get 100% replacement cost with no hassle.
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Christopher Ivie
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HauRuck wrote:


Property is property and your DVD's are just as much a "Collection" at 10 DVD's as they are at 1000. What matters is the total value per category as compared to any LIMIT your policy might have (for mine thats basically only JEWELRY and COMPUTERS) or significant replacement cost.



I consider myself a moderate gamer with a small but not insignificant game collection, and if a fire burned down my house I would want to reconstruct the entire collection, period. So for me (and I suspect, for many) getting 100% the cost of replacing the game so that I can order it from a retailer (along with 30 other games) is preferable to trying to find the best price and/or cut corners due to my collection being covered under a lump sum coverage payment. If I have a calamity large enough to cause catastrophic loss to my game collection I will already have too much on my plate to spend my time shopping flea markets and Ebay for the best price!

Just as important: most personal property coverage on insurance is for "replacement cost". But you don't get 100% the replacement cost up front; instead you get payment for the "actual cash value" of the item and then when you replace it (and submit receipts) you get the difference. Pretty tough to justify "actual cash price" with board games that can dramatically increase or decrease in value in a short period of time. Would you like to receive $29.99 up front for your charred copy of Advanced Civilization because that was the last retail price the claims adjuster found in some pricing guide? I wouldn't.
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anthony jackson
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Dont let the wife find them!
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