Insuring collections

**BodhiEtheridge** · 12-07-2020, 04:24 AM

Hello, I’ve looked around the forum for information on this and only found information about it for the UK. I was recently thinking about insuring my collection sometime in the future and I was wondering if anyone else has done this and how worth it/important it really is. I’ve seen and heard many discussions here and on other places about Militaria collections(mostly in Europe) being stolen, but I was also thinking about things like natural disasters and fires. Any help or information on this topic is greatly appreciated as I’m still young to things like this.

Cheers,
Bodhi

**Tank Destroyer** · 12-07-2020, 04:46 AM

Great subject matter and a concern for most collectors.

**LoyalHistorian** · 12-07-2020, 05:06 AM

I'd be interested in also hearing responses to this. I've often wondered about that myself. Great question, Bodhi!

**BodhiEtheridge** · 12-07-2020, 05:20 AM

Good to hear I’m not the only one with this question!

**AndyM35** · 12-07-2020, 05:49 AM

I’ve also thought the same and have asked fellow collectors but have found most don’t insure which I find odd. I’m currently looking for a policy here in Australia and can’t imagine starting again if I lost everything.

**MAP** · 12-07-2020, 05:56 AM

Insuring a collection isn't easy if it is of any size. I have been told that you need to document everything and provide receipts/valuations. This has to be done for every item you add. Best to speak with an insurance broker.

**reneblacky** · 12-07-2020, 07:31 AM

And it all needs to be appraised! and that costs$$$$$

**BodhiEtheridge** · 12-07-2020, 10:17 PM

So in short I would need to pay someone to tell the insurance company how much the collection is worth. Then I assume I would be paying a recurring bill for the coverage?

**AZPhil** · 12-07-2020, 10:22 PM

by BodhiEtheridge

So in short I would need to pay someone to tell the insurance company how much the collection is worth. Then I assume I would be paying a recurring bill for the coverage?

Yes.

Semper Fi
Phil

**KMMorris** · 12-07-2020, 11:18 PM

I had my collection appraised by a dealer who signed a statement, as well as having my sports cards appraised by PSA on request. First one cost me nothing, second cost me around 75 dollars at the time to add to our insurance policy.
In Australia you can add collectable to your home and contents insurance for a very small margin. A worthwhile expense in my book after being burgled twice in the last 20 years. A safe is also a good option.

Morris