Toy Collection Insurance
Toy collection insurance is something that toy collectors may just keep in the back of their minds because they think that the risk of a house fire, flood, or burglary will never happen to them. Well the truth is that any of these threats could happen to you at any time without warning . If you have a vintage action figure collection then you could be out some serious money that you had invested in your action figure collection. This could also be the case if you have a large collection of recent action figures.
Under most homeowner insurance policies your toy collection should be covered along with all your personal possessions around the house (furniture, clothing, appliances, electronics, etc.) You will want to check with your current insurance company to see what they cover and they don’t. Remember that your toy collection is just toys. Don’t refer to them as anything like ‘collectibles’ because your policy could raise in price.
Toy Collection Insurance – What Can You Do?
- Keep an up to date inventory of your entire collection. You will want this so that you can easily determine the value of lost or damaged toys in your collection. You want to update this regularly because you never know when an unfortunate event is going to happen to you.
- Take photographs of your entire collection. If you take digital photos (I hope you are) then keep a back up of all your images on a memory stick. Having photos as evidence that you had the pictures of your toy collection could be very helpful in the event that you have to file a claim.
- Keep all receipts of they toys you purchase. This is also a good way to prove your ownership.
- Secure your house with window locks, door locks, and lockable display cabinets for your most prized collectibles. If you have to make a clam then you can show that you took all possible step to secure your collection.
When you are picking the best insurance policy you should work around your homeowners or renters insurance. Check if your insurance will cover accidental breakage or damage from natural disasters. If your homeowners insurance doesn’t cover that then look for a policy that picks up coverage where your current insurance doesn’t cover.
Toy collection insurance is defiantly something that you should consider, you never know what is going to happen. Expect the unexpected.