1250 SCALE MESSAGE BOARD
[ Post a Response | 1250 SCALE MESSAGE BOARD ]
Posted by John Reid on 1/22/2019, 8:41 pm, in reply to "Re: Insuring?
When our house was burnt down in the Canberra 2003 bushfire (along with 500 others), I lost my entire collection of over 900 models, nearly all Eagle/Pyros and conversions and scratchbuilds. The house insurance firm was OK with an assumed value of AUD 10 each and paid out without need of further documentation. Of course, how to value a scratchbuild??
When my collection of 50 ships was burned in a house fire
In 2015 it was covered as part of the home owners policy. I was able to get full value. To do that, I had to provide a list of models, their current price and photos.
On a side note, I still have them and have slowly been restoring them. Iím down to about 4 left. They will never have their original value again, nor look pristine (hours of cleaning and soaking in paint remover still left flakes here and there) but they have value to me. The collection has since grown to 106, including my restored ones.
I know I'm new to collecting, and most of you have been collecting for decades, but the wife asked if we needed to insure the ships I have acquired so far. Do you guys recommend this? I'm sure if I had thousands like some of you do, and they're worth six figures, it's "required". But for starting out and only have a couple of hundred ships, just take photos and notes on ships?