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Tyler, Texas

jeffthomastxjeffthomastx Member Posts: 2 ✭ Mexican Lobby Card
Hello ladies and gentlemen.... Yall I've got a real unique situation as my home flooded and 5000 posters have water damage. Has anyone dealt with this type of situation? I hate to be screwed by my insurance. As its some serious $$$ I meet with them in 2 hrs and I am going to a shoot out with a damn knife and don't like it at all.  Lol  thanks, Jeff 

Comments

  • DavidDavid Administrator Posts: 9,268 admin
    I don't know anything about having to claim for damaged/lost movie posters (thank goodness) and you situation I am sure make a collector cringe. I guess ultimately it depends what type of insurance you had, policies vary when it comes to collectibles/hobby items. And of course it's the job of an insurance company to avoid paying you...

    And welcome Jeff!
    David
  • SvenSven Member Posts: 1,689 ✭✭✭✭ Three-Sheeter

    Welcome jeff and sorrry to hear that.

    Majority of insurance companys in australia will cover for around 5k for artwork and collectibles. If you want to cover the full amount each poster needs a valuation and specifically listed on the insurance policy. Quite painful. Unless anyone else knows an insurance company that i dont know!

  • DavidDavid Administrator Posts: 9,268 admin
    Sven said:

    Majority of insurance companys in australia will cover for around 5k for artwork and collectibles. I

    Under one's general household insurance and IIRC, per item?
    David
  • EisenhowerEisenhower Member Posts: 2,957 ✭✭✭✭✭ Elite Collector
    Most US home insurance cover collections under "personal property" trouble is showing ownership if they are lost in a fire.

    Lists, receipts, documentation, video/photograph your collection in some way really helps. 

    Sorry to hear, Jeff. Good luck. 
    Mark
  • SvenSven Member Posts: 1,689 ✭✭✭✭ Three-Sheeter
    David said:
    Sven said:

    Majority of insurance companys in australia will cover for around 5k for artwork and collectibles. I

    Under one's general household insurance and IIRC, per item?
    Thats right general house and contents per item. IRC? 
  • theartofmovieposterstheartofmovieposters Member Posts: 2,775 ✭✭✭✭ Three-Sheeter
    Sven said:

    Welcome jeff and sorrry to hear that.

    Majority of insurance companys in australia will cover for around 5k for artwork and collectibles. If you want to cover the full amount each poster needs a valuation and specifically listed on the insurance policy. Quite painful. Unless anyone else knows an insurance company that i dont know!


    Hmmm that's interesting.  When we took out cover for our place and I told her about the collection, insurance lady said no need to list them all out, just include total value in the amount we wanted covered for our contents.  I accept however, that should I ever have to claim, it will be a pain in the arse and will probably not get anything back...
  • DavidDavid Administrator Posts: 9,268 admin
    Don't bother listing that New York...
    David
  • SvenSven Member Posts: 1,689 ✭✭✭✭ Three-Sheeter
    Sven said:

    Welcome jeff and sorrry to hear that.

    Majority of insurance companys in australia will cover for around 5k for artwork and collectibles. If you want to cover the full amount each poster needs a valuation and specifically listed on the insurance policy. Quite painful. Unless anyone else knows an insurance company that i dont know!


    Hmmm that's interesting.  When we took out cover for our place and I told her about the collection, insurance lady said no need to list them all out, just include total value in the amount we wanted covered for our contents.  I accept however, that should I ever have to claim, it will be a pain in the arse and will probably not get anything back...
    I would check the product disclosure statement as i initially thought it was as simple as increasing total value of contents but was not the case as there are limits to particular categories. This was AAMI.  So to increase the limit it required valuations and specifically listing the item. Maybe double check and if you find out this is not the case i will switch!!
  • SvenSven Member Posts: 1,689 ✭✭✭✭ Three-Sheeter
    Here is RACV pds Limits (even if you had $1.0m contents cover) Jewellery $1,000 in total Watches $1,000 in total Card collections $2,500 in total CDs, DVDs, records, tapes, game cartridges, discs of any sort and legally downloaded digital media $2,500 in total Curios or objects valued as curiosities $2,500 in total Gold or silver items (not coins, bullion, sovereigns, jewellery and watches) $2,500 in total Stamps/medals $2,500 in total Uncirculated mint issue or proof coins or notes, ancient or rare coins or notes, sovereigns and bullion $2,500 in total Works of Art $2,500 in total Tools of trade (the limit will not apply if you are operating a business, trade or profession from your home and we have agreed to cover you). $1,000 in total 2) If increasing limits then need to specify each item and then on claim provide purchase receipts valuation certificates Proof of loss and ownership When you make a claim, we may ask you to provide certain documents to: prove that you owned the items help us identify your items. The types of documents we ask for depend on the situation and can include: purchase receipts valuation certificates credit card or bank statements photos. http://www.racv.com.au/wps/wcm/connect/7deffd46-1558-4da0-9dc2-162a27bd31aa/RACV+Home+Insurance+PDS+2012+Embedded+SPDS+0915.pdf?MOD=AJPERES&ContentCache=NONE&CACHEID=7deffd46-1558-4da0-9dc2-162a27bd31aa
  • jeffthomastxjeffthomastx Member Posts: 2 ✭ Mexican Lobby Card
    edited December 2015
    I see ive tapped into a good discussion.  I had additional coverage for it with farmers But recently switched to some company named  hohiem ins completely forgot to add the posters and lobby cards and press passes. I know with farmers they would pay if it was documented
  • DavidDavid Administrator Posts: 9,268 admin
    Sven said:
    Here is RACV pds 
    Different insurers have different rules/limits.
    David
  • theartofmovieposterstheartofmovieposters Member Posts: 2,775 ✭✭✭✭ Three-Sheeter

    Hmmm, so if I have 1mil cover and my house burns down (knock on wood) what would they pay out?  1 mil right?

    I get with burglary it would be difficult, but lets face it, I doubt they would even give the posters a second thought...except David...hence New York New York is under lock and key now :)

  • DavidDavid Administrator Posts: 9,268 admin
    Another reason why one's collection should be photographed and hosted on a cloud server.

    BTW, RACV insurance is laughable for valuables
    David
  • SvenSven Member Posts: 1,689 ✭✭✭✭ Three-Sheeter
    David said:
    Sven said:
    Here is RACV pds 
    Different insurers have different rules/limits.
    True my friend. Any chance you could recommend an insurance company that might suite a poster colector? Or anyone other member could recommend me an insurance company that have larger limits and more flex on making a claim..jusy curious. 
  • JohnJohn Member, Dealer Posts: 1,019 ✭✭✭✭ Three-Sheeter

    I have done valuations and appraisals for insurance companies over the years and they have usually paid the claims. The more information you have about your collection the better, receipts, photos, etc all help a lot.

    Interestingly, I know of one collector who has made three separate claims on stolen movie posters!

    John

  • theartofmovieposterstheartofmovieposters Member Posts: 2,775 ✭✭✭✭ Three-Sheeter

    Well I am pretty sure ours is up for renewal in the not to distant future...I think I will calling and asking some questions :)


    Thankfully, other than the odd car bingle I have never had to make a claim.

    Have had experience with AAMI, GIO, Shannons, RACV and some smaller insurers.

    The only one I have never had issue with has been RACV and shannons.

    Though once upon a time, hubbies steering wheel got stolen, and because it was an old car he couldn't get the same one.  Insurance told him he could pick whatever he wanted to replace.  When it came time to renew he was told that because the car was now "modified" his premium would go up, and it was ridiculously high...higher than the value of the car...even though they told him he could put the steering wheel on...needless to say he is no longer insured with them.

  • theartofmovieposterstheartofmovieposters Member Posts: 2,775 ✭✭✭✭ Three-Sheeter
    John said:

    I have done valuations and appraisals for insurance companies over the years and they have usually paid the claims. The more information you have about your collection the better, receipts, photos, etc all help a lot.

    Interestingly, I know of one collector who has made three separate claims on stolen movie posters!


    Maybe it is a blessing in disguise that I am so disorganized...they would struggle to find the good stuff for the crap :)
  • DavidDavid Administrator Posts: 9,268 admin
    Sven said:
    David said:
    Sven said:
    Here is RACV pds 
    Different insurers have different rules/limits.
    True my friend. Any chance you could recommend an insurance company that might suite a poster collector? Or anyone other member could recommend me an insurance company that have larger limits and more flex on making a claim..just curious. 
    I can't actually offer a recommendation per se as I have only been with the one (insurer) in recent years, Chubb Insurance, and I have never made a claim. I have their Masterpiece Deluxe Contents Coverage Policy which means everything is insured wherever it is in the world under a 'blanket' coverage including collections.
    David
  • SvenSven Member Posts: 1,689 ✭✭✭✭ Three-Sheeter
    John said:

    I have done valuations and appraisals for insurance companies over the years and they have usually paid the claims. The more information you have about your collection the better, receipts, photos, etc all help a lot.

    Interestingly, I know of one collector who has made three separate claims on stolen movie posters!


    Maybe it is a blessing in disguise 
    And lucky theft 
  • SvenSven Member Posts: 1,689 ✭✭✭✭ Three-Sheeter

    Great thanks david i will check it out!
  • RickRick Member Posts: 601 ✭✭✭ Daybiller
    three separate claims from one person for stolen posters? Touch wood I've had none stolen, but three times???
  • SvenSven Member Posts: 1,689 ✭✭✭✭ Three-Sheeter
    Rick said:
    three separate claims from one person for stolen posters? Touch wood I've had none stolen, but three times???
    Luckily most burglarys are jewellery and electronics
  • DavidDavid Administrator Posts: 9,268 admin
    Most electronics is out of date within 6 months, wonder if it is still high on the list.
    David
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