Festive FelizNavidad Pony
- Jan 3, 2006
Does anyone here have any info on insurance for their collection? I'm just curious what others may have done. I can't imagine it would be easy to get appraised and since it's ever growing that's something else to factor. I was always under the assumption it would fall under personal property in your home owners plan but when I was combing through my most recent renewal I noticed it limits "collectables". So I made a trip by the insurance agent's office to get educated. See in a typical plan, say you have 100,000. in personal property well that's all your stuff should your house burn to the ground. However, some things have limits on their category, like jewelry might only be up to 5,000. or electronics up to 10,000. etc. This is typically how it works and if you wish to buy additional insurance for specific categories of items you can pay to add those on. So my plan had limits on what it categorized as collectables but none of the things they listed were appropriate for ponies. It was like, coins, stamps, furs, fine art (personally I think fine art seems correct but insurance agent disagreed LOL). So, after the agent called headquarters and spoke to 3 people it was finally decided that since ponies don't fall under any of their categories they would just be considered personal property and as long as I have enough for them and all my other stuff they're considered covered. This makes my life easier in the sense that I don't have to try to get a documented appraisal or pay for additional coverage just for the collection but I do have to make sure I keep my inventory up to date which is a project I started this year. Hopefully though, nothing will ever happen so I'll never need to worry about it but it is something to think about for sure.