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Insurance
Are you insured?

Yes 26% 26% ( 11 )
No 73% 73% ( 30 )

Total Votes : 41
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Hello all... I have been thinking about something...

I live in Vancouver, an area which is always under threat of earthquake, maybe not as much as LA or some other cities but they always say that when the big one hits it will rock all the way up the coast.

I would like to know if anyone here has gone to the extent to get any kind of special insurance for their collection.  I am sure that some people have very high values invested, I have expanded my own collection by quite a bit recently and I am considering getting it covered.

I think there is a  special disclosure I have to make to have it covered from theift or damage to the insurance company.


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i voted for no as my insurance guy told me it would be no so eays to get this stuff insured - and that it would be very expencive.

so i am happy to live no in a erath quak affected area - but sure you never know - no risk no fun ))green2))smiley


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ICQ
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I've asked an insurance-company about it, and the only thing they can insure is money collections and stamp collections... Not alcohol Sad


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I live in Los Angeles so I am am constantly worried about an earthquake ruining my collection. I have used the museum putty to hold down the bottles and have the case that they sit on bolted to the wall. My next purchase is going to be a curio cabinet with a full locking glass door infront of the bottles so even if the museum putty fails, the bottles can't fall on to the floor. I have never thought about insuring the bottles. Maybe you could as art, but providing a cost basis in the bottles would be difficult...


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Yes i have an insurance for my collection


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freerider wrote:

Yes i have an insurance for my collection

How much do you pay for it?


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seb08 wrote:
freerider wrote:
Yes i have an insurance for my collection

How much do you pay for it?

80€ for the whole year ))green2))smiley


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ToRbA wrote:
seb08 wrote:
freerider wrote:
Yes i have an insurance for my collection

How much do you pay for it?

80€ for the whole year ))green2))smiley

What's your coverage?


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ToRbA wrote:
seb08 wrote:
freerider wrote:
Yes i have an insurance for my collection

How much do you pay for it?

80€ for the whole year ))green2))smiley

Wow, I hope it is that cheap in here in the United States!


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--- Selling my entire collection!! ---
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Bladezedge22 wrote:
ToRbA wrote:
seb08 wrote:
freerider wrote:
Yes i have an insurance for my collection

How much do you pay for it?

80€ for the whole year ))green2))smiley

Wow, I hope it is that cheap in here in the United States!

It'll cost you approx. $75/year for a coverage of $25,000. I'm currently seeking quotes for our homeowners policy renewal.


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J-E-S-P-E-R wrote:
Bladezedge22 wrote:
ToRbA wrote:
seb08 wrote:
freerider wrote:
Yes i have an insurance for my collection

How much do you pay for it?

80€ for the whole year ))green2))smiley

Wow, I hope it is that cheap in here in the United States!

It'll cost you approx. $75/year for a coverage of $25,000. I'm currently seeking quotes for our homeowners policy renewal.

Thanks for the info JESPER! What does that cover?

I am hoping that I can get a rate similar to that even though I am a renter. I do have the advantage of working for a very large insurance company though! Mr. Green


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--- Selling my entire collection!! ---
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Bladezedge22 wrote:
J-E-S-P-E-R wrote:
Bladezedge22 wrote:
ToRbA wrote:
seb08 wrote:
freerider wrote:
Yes i have an insurance for my collection

How much do you pay for it?

80€ for the whole year ))green2))smiley

Wow, I hope it is that cheap in here in the United States!

It'll cost you approx. $75/year for a coverage of $25,000. I'm currently seeking quotes for our homeowners policy renewal.

Thanks for the info JESPER! What does that cover?

I am hoping that I can get a rate similar to that even though I am a renter. I do have the advantage of working for a very large insurance company though! Mr. Green

You'll need to talk to your employer, landlord, agent or broker about specific coverage needs and costs.  I work for the world's largest property and casualty insurance company, and we offer specialized insurance in these areas... I'll have to check and see what they can offer me.  One thing is for sure, you'll sleep better at night in case disaster should strike.  Good luck!


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OK guys, so I just added extra insurance for my Absolut collection under our homeowner's policy.  For an extra $134/year, we're covered up to $25,000 (with a max value of $5,000 per item) with a $500 deductible.  Now here's the interesting part... the replacement value is based upon what a bottle is worth empty (liquor is not covered), so I'll have to eat the value difference compared to a full bottle. 

If I wanted to itemize every single item (with coverage set at full market value) the premium jumps significantly.  The insurance company would basically have to estimate every single item, so you can just imagine the long process involved... and then having to constantly update the inventory list every time new stuff is added. 

Anyhow, I'll sleep better at night knowing that I won't take a total hit if something should happen, but as we all know, some things are simply not replaceable.  If you've got a large collection, I would definitely recommend insuring it.  


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seb08 wrote:
freerider wrote:
Yes i have an insurance for my collection

How much do you pay for it?

I pay around 60 Euro in one year for a hight about 30.000 Euro.

I think this i only a city Edition bottle. When i can buy bottles for more then 200 Euro, i can pay this for the safty of my bottles.


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freerider wrote:
seb08 wrote:
freerider wrote:
Yes i have an insurance for my collection

How much do you pay for it?

I pay around 60 Euro in one year for a hight about 30.000 Euro.

I think this i only a city Edition bottle. When i can buy bottles for more then 200 Euro, i can pay this for the safty of my bottles.

Typically insurance is more expensive for such coverage.  What exactly is included and how much is your deductible?  Is it part of your homeowner's insurance or a separate policy?  Rolling Eyes


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