View Full Version : Video Game Insurance
Captain J
04-21-2005, 05:43 PM
I was wondering if anyone has or has thought about taking insurance out on their collections? i have thought about this alot. the fact they we all have large collections and some of it irreplaceable makes you think. what if it was stolen, or something happen in your house that would make it fire or water damaged? i personally have close to 200 systems and over 10,000 games (not counting whats in my store) and sometimes i get worried that i could lose it all! i called my local insurance company that does my car and my video game business and he said since i live in an apartment to insure my collection for up to $100,000 it would be about $50 a month. what do you guys think?
I think that's a crazy idea, but also a very good one. $50 a month really isn't much when you're talking about something that expensive, or that valuable. It's something that I would definitely do if I had a big enough collection to warrant it. I say go for it.
rbudrick
04-21-2005, 05:49 PM
There's been at least three or four threads about this, but this is the first poll.
-Rob
Captain J
04-21-2005, 05:51 PM
There's been at least three or four threads about this, but this is the first poll.
-Rob
Yeah I saw them but as you said, I wanted to add a poll to get opinions I what people think would be a good idea!
Kejoriv
04-21-2005, 06:19 PM
Great Idea! I have my Mad magazine collection. Its part of my insurance thru my apartment. I pay $72 extra dollars a year.
Captain J
04-21-2005, 06:34 PM
I have my Mad magazine collection.
i used to have a really nice one of those that got misplaced, sadly :(
Captain J
04-21-2005, 06:34 PM
I have my Mad magazine collection.
i used to have a really nice one of those that got misplaced, sadly :(
tholly
04-21-2005, 06:38 PM
i live at home (only 21, still in college) so thats where my collection is, but i had my mom contact the insurance company and the rep. said that as long as i have a list and photo proof (both of which i have online), my collection would be covered with the policy we have
when i move out, i will make sure i have a policy on it or a policy that will cover it though....something that expensive you have to protect
My collection has been part of my insurance policy for years now. I just need to keep my agent updated every few years on its value.... (the collectors guide helps with this).
Videogamerdaryll
04-21-2005, 09:45 PM
Great Idea!.......................For a Large Collection..
Gamereviewgod
04-21-2005, 09:50 PM
$50 a month seems like a lot, though you're getting a lot of coverage. Usually it's like $100 a year or so, but I've never seen a number on cash value that high.
RetroYoungen
04-21-2005, 10:02 PM
I wouldn't get my collection insured quite yet, it's not worth enough to warrent that kind of extra investment. But when I get to that size point, I'm sure I'll be interested.
Big Papa Husker
04-21-2005, 10:04 PM
I think its a good idea. Since I have about 15 consoles and close to 500 games, I probably should think about doing it. When they say photo proof do you have to take a picture of each individual game/console or can it be a few pictures will all the games for each system together?
slurpeepoop
04-22-2005, 11:40 PM
I think its a good idea. Since I have about 15 consoles and close to 500 games, I probably should think about doing it. When they say photo proof do you have to take a picture of each individual game/console or can it be a few pictures will all the games for each system together?
It depends on the insurance company and how much insurance you're wanting.
The first company I had were perfectly happy with a bunch of group or lot photos as long as I had a list, with exceptionally expensive items clearly in view. All the "collectible" stuff would be covered under the flat homeowner's policy.
The second company (the one I have now) needed specific pictures of just about everything. Of course, my house and the contents are covered for $300,000 now, so I guess on the off chance they'll have to pay out, they wanted GOOD documentation what their cash is being spent on.
PapaStu
04-23-2005, 02:45 AM
Something that should be done on my part but I havn't done that yet. Its all under my parents roof at the moment so its covered there, but when I move into a place of my own (the apt im in now doesnt count because I know I wont be here forever or much longer for that matter since ive graduated)it will happen. Ive just got too much stuff to NOT have that done.
Now another fun thing is when you also factor in death and what should happen should something like that happen to you one day. Theres nothing like telling your parents where to go and who to talk to if that day ever came.