Help!!! Geico said they wont insure my collection!

[swlovinist]

I have a pretty big collection, and I thought it would be smart to insure it. I finally contact Geico, and they say that there was no way to determine the value, and that it was a speciality collection. What should I do? Does anyone have insurance on their collection? How much does it cost? If you have any answers to these questions, please let me know!

[Jasoco]

Gecko?

Damn.. insurance. Never thought of that. What would I do in case of fire? @_@

[ddockery]

Well, there's been a lot of threads on this in the past, so I'd suggest a search. However, the obvious next step in my eyes is to try calling other insurance companies.

[Darth Sensei]

They may not want to insure it the normal way. However, lots of companies (perhaps even Geico if you ask correctly) will insure it for a set dollar amount.

Many people with antique or classic cars have the same problem. They just insure the car for X number of dollars for X dollars every six months.

I think if you ask them with a figure in mind they'd be more likely to write the policy.

D

[GaijinPunch]

Best thing to do is to get a "replacement cost" home owners insurance. They reimburse you the replacement cost of everything stolen/damaged.

My house was robbed when I was 18. I had a nice collection of import/bootleg CDs, and some really old stereo equipment. Since it cost $300 to replace a new VCR, I got $300 apiece for my 2 vcrs (that I paid $50 for). I got full value for my CDs as well.

It helps if you catalogue them and have one (or more) people vouge for it. I had the guy at a local record store sign a price list of my items.

[swlovinist]

I rent so the home insurance is out. I live in a apartment, so I guess my options are limited. I will look into other comanies and contact Geico again.

[GaijinPunch]

Well, there's got to be SOMETHING along those lines. It might cost you, but could be worth it in the long run. I've got an insurance policy here, but the only thing I need to be afraid of is fire and earthquake. Theft would be very hard (I live on the 3rd floor of Fort Knox).

[djbeatmongrel]

Well, there's got to be SOMETHING along those lines. It might cost you, but could be worth it in the long run. I've got an insurance policy here, but the only thing I need to be afraid of is fire and earthquake. Theft would be very hard (I live on the 3rd floor of Fort Knox).

What about a large meteor?

[udisi]

Well you can still get renters insurance...they will cover itemized things in your apartment...You may have to make a list and have prices, pics etc...Don't know about the replacement value thing, but I know state farm insurance will atleast give you depreciated insurance for it...

[calthaer]

What about a large meteor?

That only happens in Japanese RPGs. Don't get all otaku on us, man.

[SoulBlazer]

Well, there's always the chance that some crazy collector could decide that he wants to be the ONLY one to own a game and hires people to go destroy all the other copies...... ;)

[mizarkgram]

Well, there's always the chance that some crazy collector could decide that he wants to be the ONLY one to own a game and hires people to go destroy all the other copies...... ;)

Yes, I want to be the only collector to own SMB/Duck Hunt for NES and ET for the 2600..... :angry:

hahahahaha LOL

[GaijinPunch]

What about a large meteor?

Then I've got much bigger issues, which is why I hesitate to get Earthquake insurance. But, there are such things as small, fire-causing Earthquakes, so I got it.

[blissfulnoise]

I have a pretty big collection, and I thought it would be smart to insure it. I finally contact Geico, and they say that there was no way to determine the value, and that it was a speciality collection. What should I do? Does anyone have insurance on their collection? How much does it cost? If you have any answers to these questions, please let me know!

Back when I had renters insurance, my video games were covered under 'electronic' items. This was through State Farm though. I had Geico for a long time and never had a good experience. While this isn't a "who's the best insurance provider thread" (heh), I'd recommend dialing up SF to see if they can insure your collection.

I currently have $50,000 worth of coverage for all my electronic based items (from my TV to my video games) through my home insurance. Keep pictures of your items and try to maintain a database in case of a disaster.

[Speedy]

And keep a back-up from that pictures and database outside your house (store them online).
Years ago i insured my little PC gaming collection (85 titles) as electronics. The man from the insurance compagny put an extra "don't know in english" on top of the standard electronic goods from my parents to cover my stuff (TV, Playstation, PC's and that collection). Otherwise i don't think you can insure classic consoles here in holland by a normal insurance compagny (sure it could by a special compagny but that will cost an awefull lot of money), for them it's just old crap :(

this topic reminds me to call them and to raise the electronics policy with the amount of my consoles :)

[ianoid]

Insurance is tough.

'Geico' renters is generally underwritten by Travellers, who has no special provisos for collections. Premiums not even that good.

Geico is good for cars, but not much else. Try an insurance agent or just call the agent for Farmer's or State Farm. State your circumstance. Many of the larger companies have products that just include your electronics. You do need to document everything with a video tape or many pictures (kept outside of your home, like in a safe deposit box) if you ever wish to actually have a company make good on your claim.

I have looked into special collection coverage insurance. It would cover travel and shows if you move stuff, too. Only a few companies offer it, and it's geared to more conventional collectibles like glass or baseball cards. Still, I never found a suitable product, since the only one that looked even remotely useful was excluded in CA.

I currently use Farmer's, and they even cover stuff in storage, which is nice.

ian

[ianoid]

Accidental double post. Ignore.

[Darth Sensei]

What about a large meteor?

That only happens in Japanese RPGs. Don't get all otaku on us, man.

Forget meteors. You need to insure against a much more realistic threat: Attacking Robots. They eat cartridges for energy with the exception of ET for 2600.

Beware the Robots.

D

[farfel]

create saving account called 'insurance'

add $100 every month

if accident happens to car or stolen collection use that money.

Best Type of Insurance imho. :)

[rbudrick]

create saving account called 'insurance'

add $100 every month

if accident happens to car or stolen collection use that money.

Best Type of Insurance imho.


Ummm, yeah, $1200 a year for game insurance...Idfts.

Except for him ( :D ) these folks are telling it true. Homeowners insurance is the way to go. Document everything well (yes, HUGE pain in the ass for many of us), and then see what it would cost to tag them on to your insurance...I couldn't imagine it would go up by too much.

PIctures! lots of em! Videotape, whatever you have to do. Lay out all your games and scan over each and every one with a camcorder. I would reccomend doing this every three to 6 months or after every big find.
Put the evidence in a safe deposit box. Oh, and copy the tape in case one malfunctions.

-Rob

[farfel]

if accident happens to car or stolen collection use that money. Best Type of Insurance imho.
Ummm, yeah, $1200 a year for game insurance...Idfts.

IDFTS? Multiple by amunt of time since last theft or car accident. 15 years for me. That's $18,000.

Id rather give money to my 'insurance' account than insurance company that will later find a reason not to pay you.

[swlovinist]

Well, I think I will go to State Farm this week. I have tried to inventory everything I own, but man it is a pain in the butt. I have tried though, and will be done within the week. I only have 3500 different titles O_O

[jaydubnb]

create saving account called 'insurance'

add $100 every month

if accident happens to car or stolen collection use that money.

Best Type of Insurance imho. :)

Thats exactly what I've done. But I call it my "In Case Shit Happens Account".

ICSHA, heh.

ICSHA (tm)

[NintendoMan]

create saving account called 'insurance'

add $100 every month

if accident happens to car or stolen collection use that money.

Best Type of Insurance imho. :)

Yeah man, I am suppossed to start a bank acount today, so if my collection burns down in a couple of months, like I am suppossed to have well about 25,000 or so. And I know there are alot of people on here, a few of them personally, that have 2 or 3 times, if not more, than that amount invested in games. WON'T WORK!!

[NintendoMan]

Gecko?

Damn.. insurance. Never thought of that. What would I do in case of fire? @_@

Your right Jasoco, I have been thinking about fire alot lately, not really robbery or anything, just fire! :angry:

[ApolloBoy]

You talked to Geico about insuring your collection? Uh, Geico does cars, not personal property. x_x

[nesuser2]

Well alot of people view insurance as a waste....Wait until you need to make a large claim and can't or for those with insurance, wait until that somewhat victorious day when you do file the claim. I just had to make a large claim on an insurance policy and what's lost can't be replaced with any amount of money, i guess it amounts to an insurance refund for what they can't replace. Renter's insurance, I've heard good things about it.....but things can easily change if you call up wanting a $100k policy for your electronics LOL

[farfel]

(points to above message) Exactly. I know too many cases where insurance did not pay. Why have it? Better to save yourself in your private account. Chances are nothing will happen at all.




if my collection burns down in a couple of months, like I am suppossed to have well about 25,000 or so. And I know there are alot of people on here, a few of them personally, that have 2 or 3 times, if not more, than that amount invested in games.

$50-75000 invested in games? Toys???

I see.

(back away slowly)

[nesuser2]

Making any real claim against your insurance requires a lawyer. They will soak up anywhere from 25-50% of it but it's well worth your time and money to go that route than to get screwed by an insurance company. All they have to do is say there is something that allows them not to pay in that instance in the policy and well........they don't make up stories like that with a lawyer.

[brykasch]

Well if you have a problem, then balance both edges, save some money and get insurance. I decided a long time ago to catalog all my game related stuff as it took foerever to do it with my sports memorabilia. If you have any of the trure rares. I would put em in a fireproof safe seriously, I mean talking about nwc carts etc. But renters insurance would cover most, as state farm does mine and they cover my computers etc. I am starting to get my games tuff together, and I will be adding that eventually, but yes take lots of photos and keep two copies.