Topic: Collection insurance… uhmmm… yes or no?
On 2007.10.03 at 11:03 pm Cool As Ice Cream wrote:
There’s already a bunch of hardcore collectors gathered here on the forum. I know all of you have priceless Smashing Pumpkins items at home. Not to brag about it, but I own quite a few also. When I check eBay every now and then, and some other sites too, I’m amazed what people are willing to pay sometimes. Just 1 example. A few months ago I saw 1 disc of the MCIS gold acetate 2CD set go for 700 US$. Well… I own the complete set, near mint condition. Is it worth 1,400 US$ for a start? And are my MCIS August 1995 test pressings, previously owned by Billy Corgan himself, double that value? Hmmm… (Of course not, that’s utter nonsense, that guy on eBay paid way too much, but that’s another story).
Some of you own vinyl test pressings. Some of you own some early 1 of a kind demo tapes, made by Billy Corgan himself. Some of you own sales awards. Some of you collect other bands material too. My point is, altogether, our individual collections might run into the 10,000’s US$ of value. Did you insure your collection? If not, why not? If so, how, and with what considerations? What rules did you have to follow according the insurance company? How much are you paying for this (if you feel like telling us)?
PS A few years ago I asked my insurance agent for a quotation, to have my collection insured. When I the monthly payment for it, I let it be. They said it is the same type of insurance as for art or jewelry. Maybe you guys know a better way to handle this… I feel itchy about this sometimes anyway.
On 2007.10.06 at 6:16 am BleedingTheOrchid wrote:
nope not insured its just a bunch of cds and vinyl not worth much. if i would own testpressings i would bring them to the bank and have them locked away. but again i dont and probably never will
On 2007.10.06 at 11:12 am Cool As Ice Cream wrote:
no collection insurance here.
is it needed to insure it separately? aren’t a lot of things already covered by other possible insurances, such as one for fire or theft?
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