EB Forum

xangelx wrote:I use collectinsure, sign up was easy, premium was reasonable from others I looked at it. Luckily I guess I have not had to file a claim so can't speak as to how that would go. But as with any other kind of insurance I would expect that they will try to drymount you any chance they get.

I use Collectinsure, I've had 2 claims for items destroyed by the USPS and they have been amazing to work with. Claims paid quickly and with very little fuss, both were fairly low value items around $100 or so. Really happy with every aspect of their service to date.

brewdog123 wrote:not sure i would want to hold on to all my drop receipts or paypal receipts. might be slightly depressing

and dangerous if the wife is not in the know on how much you spend on paper...

andyfarrimond wrote:

xangelx wrote:I use collectinsure, sign up was easy, premium was reasonable from others I looked at it. Luckily I guess I have not had to file a claim so can't speak as to how that would go. But as with any other kind of insurance I would expect that they will try to drymount you any chance they get.

I use Collectinsure, I've had 2 claims for items destroyed by the USPS and they have been amazing to work with. Claims paid quickly and with very little fuss, both were fairly low value items around $100 or so. Really happy with every aspect of their service to date.

This is good to hear. How did they determine the value of the items destroyed by the USPS, by the sale price (if you were shipping them for a sale)?

Does Insurance cover replacement value?

I thought insurance only covered what you paid for something - not what it grew to be worth -
I can see them paying out the prices listed on a receipt or invoice in a claim but not replacement cost.

Can someone elaborate
Thanks

ToolFanFromWayBack wrote:

brewdog123 wrote:not sure i would want to hold on to all my drop receipts or paypal receipts. might be slightly depressing

and dangerous if the wife is not in the know on how much you spend on paper...

ha ha...ug

lcsproductions wrote:Does Insurance cover replacement value?

I thought insurance only covered what you paid for something - not what it grew to be worth -
I can see them paying out the prices listed on a receipt or invoice in a claim but not replacement cost.

Can someone elaborate
Thanks

In most cases you can pay to insure at original cost or replacement value, with replacement value being more expensive. It's really dependent on the company. On super pricey art (Monet, Picasso, Jackson Pollock), the owners get appraisals for current worth and they are insured it for that price. On the type of artwork we are talking about, aside from maybe Banksy pieces, I wouldn't think they would be insuring individual pieces, but rather the whole collection.

I'm looking into insuring my whole collection as well as a few prints that are valued over 10K. Trying to figure out the best route to go for each option. Any idea how to get a valuable print appraised?

Whatchu got baller? Some Banksys?

Codeblue wrote:Whatchu got baller? Some Banksys?

Alas no. My valuable print is an Invader. The more it goes up in value the more worried I get about owning it.

Luls. I used to have a few invaders. Glad I don't have to worry about the insurance now. #silverlinings #silentlycrying

bigmuls wrote:

Codeblue wrote:Whatchu got baller? Some Banksys?

Alas no. My valuable print is an Invader. The more it goes up in value the more worried I get about owning it.

Don't worry about it his prices are coming down

JK..... this article was helpful for me a few years back. I'm lucky for my more expensive ones they send me updates whenever the value increases but others you are really worried about the price going above what you paid, get the appraisal. I'm about to update mine as my 3 year old is on a rampage since his little sister came and I'm getting worried a toy's going to go flying.....

How much is your stuff worth?
It’s often a good investment to spend the time and money on an appraisal
https://www.consumerreports.org/cro/mag ... /index.htm

chevyav53 wrote:

bigmuls wrote:

Codeblue wrote:Whatchu got baller? Some Banksys?

Alas no. My valuable print is an Invader. The more it goes up in value the more worried I get about owning it.

Don't worry about it his prices are coming down

JK..... this article was helpful for me a few years back. I'm lucky for my more expensive ones they send me updates whenever the value increases but others you are really worried about the price going above what you paid, get the appraisal. I'm about to update mine as my 3 year old is on a rampage since his little sister came and I'm getting worried a toy's going to go flying.....

How much is your stuff worth?
It’s often a good investment to spend the time and money on an appraisal
https://www.consumerreports.org/cro/mag ... /index.htm

I'm worried about the same thing with 2 and 5-year old boys who might one day find daddy's collection and make paper airplanes out of them.

^That's why doors come with locks.

my wife and i have already agreed on our escape plan in case of an emergency... she grabs the kiddo, i grab the art.

kansasbbq wrote:^That's why doors come with locks.

Not sure about Texas but in Cali if you lock your kids outside you’ll have Child Protection Services called on you