Reply With Quoteif you have a large valuable collection try Hiscox ...not cheap but if its not excluded its covered pretty much
Registered User
I am sure that this has come up before ....however as I am just about to renew my home Insurance I am intrigued as to what other forum members with valuable collections do about Insuring them.
Do you:
A. Have them Insured on a separate policy
B. Named Items on the contents policy
C. Wing it
2,602.00 GBP −10.00 (0.38%) at the close
if you have a large valuable collection try Hiscox ...not cheap but if its not excluded its covered pretty much
Gun control means using both hands.
World pork pie juggling champion three years straight
Included on main policy, items over a certain amount e.g. Steyr had to be detailed on policy. Having suffered a house burglary in the last couple of years and subsequently dealing with the squealing pig of a claims assesor, I can categorically state that winging it would be a fools option.
Dave
Dialling code: 01344
When assessing the possibility to take out insurance, it is important to remember that insurance companies are in it to make a profit. This means that on average, insurance will cost more than no insurance (since for the insurer to make a profit, he must charge his average cost plus his profit margin). You will find that larger companies do not purchase insurance other than where they are statutorily obliged to do so, for exactly this reason.
Thus, if the potential loss is something which is affordable for you, why would you elect to give the insurance company a profit?
Put another way, you should only purchase insurance either because you are obliged to do so (such as vehicle insurance or a mortgaged property) or where the loss would be catastrophic for you (such as your mortgage-free house).
On average, you will be better off, unless of course, over your lifetime, you have worse than average luck.
If you have a valuable collection which you feel the need to insure, then it is worth looking at a specific specialist policy rather than adding named items to a household insurance policy, since the specialist insurer is likely to understand the risk better than a generalist insurer. Shop around.
True freedom includes the freedom to make mistakes or do foolish things and bear the consequences.
TANSTAAFL
professional hookaduck ringer
This is what I do. It is more pricey, but I think the chance of actually getting a pay out is a fair bit higher. There does seem to be less wriggle room in their cover, whereas a lot of standard policies seem iffy (oh dear, did Sir's fire start on a Sunday, unfortunately clause 5.6.78.6(a) excludes loss by fire on the weekend)Originally Posted by urx
Can you imagine trying to explain to Tesco's call centre what an abas major is and what its worth? Assuming they don't just void the policy for undeclared valuables (which is a real danger)
Turnup is right about insurance and I would not bother insuring my small collection on its own, but since loss of house contents in, say, a fire comes into the category of catastrophic loss you might as well get proper cover.
Lost love child of David Niven and Victoria Beckham
Most insurance companies allow an amount of the contents to be covered as 'valuables' and in my case : the contents cover is £75,000 of which £15,000 is allowed by made up of 'valuables'....I specifically asked only yesterday what constituted the term 'valuables' and was told it was "things like jewellery collections, art, medal collections, etc. in other words items of value that would not leave the house".
I guess that air gun collections would fall into the same category, unless there were individual pieces worth over £1,500 - which would have to be insured separately.
I think though it would be prudent to have a comprehensive record of them in your possession...
Registered User
My house policy includes 'collections' and I only have to state an item worth more than £1K. As the total value of contents I have pushed up to insure my guns (lots) then, theoretically, I am OK.
My insurance is a piccy of each and every gun in my collection, jpeg in a safe place.
lodmoor
Always ready to buy another Webley pistol and another and . . . .
The Chrono Slayer
I've a hundred and thirty guns, no extra insurance but then there's always someone in the house!! (They're locked in a spare room anyhow!!)
John
for my gunz guitarz and bonzai, see here
www.flickr.com/photos/8163995@N07/
Registered User
Running close johnbaz, probably 10 down but I have bought a few since I last counted!
lodmoor
Always ready to buy another Webley pistol and another and . . . .
The Chrono Slayer
Running close johnbaz, probably 10 down but I have bought a few since I last counted!
Think i'll be downsizing my collection soon as it looks like i'm going to have to pack in work!!
Have a couple of thousand wristwatches too to get rid of!!
John
for my gunz guitarz and bonzai, see here
www.flickr.com/photos/8163995@N07/
Lost love child of David Niven and Victoria Beckham
130!I've a hundred and thirty guns, no extra insurance but then there's always someone in the house!! (They're locked in a spare room anyhow!!)
Johnand I actually feel guilty about the 17 I own as I don't get to shoot them all as often as I'd like to
Registered User
130......Youre a legend,I've a hundred and thirty guns, no extra insurance but then there's always someone in the house!! (They're locked in a spare room anyhow!!)
John
yes love we are going to extend the house......for my airgun collection lol!
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