Posted 18 June 2003 - 04:51 PM
This is somthing I have been meaning to get around to for ages but still haven't
Everytime I updated my database (past tense now) it would give me a total estimated value for my collection and I was shocked
Do the majority just lump them in with their household insurance or has anyone taken out special insurance. I really should address this soon but don't know where to start. Of course I realise that things are different in America but I would be interested to know from anyone how to go about this. It is unthinkable but, if anything were to happen how on earth could I replace my collection? How long would that take? How much would that cost?????
Posted 18 June 2003 - 05:19 PM
How about a fire? Then, my evidence will be destroyed.
Posted 18 June 2003 - 05:26 PM
Greyhound great idea of printing the auction page, I am going to start to do that!
I agree keep all receipts and document all your solids with a video camera.
Posted 18 June 2003 - 05:49 PM
The cost is based on the amount turned in for replacement cost . We just updated ours and I would suggest that you insure only the costly ones. We made the mistake of turning in all of our EL solids and the replacement total was over $60,000.
(We didn't pay that ).
And when the other stuff(Ken's trains)was added we had a neat little insurance bill of $1300.
We are now redoing our list.
Ann & Ken
Posted 18 June 2003 - 09:08 PM
Posted 18 June 2003 - 10:14 PM
Check with your co. and ask about coverage for collectables that cover everything(theft,fire, breakage,etc.)
What you pay for an item doesn't count at the time of loss , it is replacement value. You would have to show what it would cost to replace at the TIME of LOSS and that is what they would pay you. And we all know how these little darlings change in value. some go up ,some go down.
There might be a different coverage to protect your money investment but I don't know what it is.
Posted 18 June 2003 - 10:24 PM
Posted 20 June 2003 - 01:31 PM
Ann, I take your point about only insuring the more expensive ones. I should sit down and make lists of all my collections. Gosh what a boring week-end ahead. Good job I had a wild day today!
Posted 20 June 2003 - 01:48 PM
After 4 yrs. of ebay the paper takes up a lot of room and can burn or get wet etc.
The disk can be put in one of those fireproof cases.
Sorry for all the tech talk.
Posted 20 June 2003 - 04:52 PM
Also, day only wild by my standards so not really wild by yours!!!!!!!! Very boring in fact. Just running around between auction to antique show back to auction and tomorrow - Glasgow School of Art Degree show and wait to find out if my bids at auction were successful!
Well, at least I wasn't at work!
Have a nice week-end everyone. I bet I'm not alone in re-assesing my insurance this week-end eh!
Posted 20 June 2003 - 04:54 PM
Posted 20 June 2003 - 08:02 PM
Ann really does not know about all of the technical stuff. She is the pretty one and I am the brains.
I mostly collect N Scale (1/160). I do collect some of the older pre-1940 Lionel (O27 Gauge) trains.
Posted 22 June 2003 - 11:39 PM
And, I think Ann has brains and looks!
Posted 22 June 2003 - 02:36 PM
There are 8 or 9 popular scales and several others. In the US we have the following letter scales:
G, O, S, HO, N, and Z being the smallest. TT and OO are European sizes. TT is almost the same as N Scale.
Number scales include 1/4", 1/2" and 1" to the foot. (These scales are expensive, but live steam, diesel, and electric engines are run in these scales and it takes a couple of acres for a good layout.
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