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Baz Atkinson

Insurance For Record Collections

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IM SURE LOTS OF US HAVE THE FEAR OF RECORDS NICKED I COVERED MY COLLECTION LAST YEAR BUT THE PREMIUM HAS GONE UP THIS YEAR,ANY GOOD BROKERS,COMPANIES TO CONTACT THAT DO THIS KIND OF THING.THE NOVELTY OF INSURING RECORDS DOES NOT HELP,BUT ANY THOUGHTS WOULD BE APPRECIATED.

BAZ A.

Edited by baz atkinson

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IM SURE LOTS OF US HAVE THE FEAR OF RECORDS NICKED I COVERED MY COLEECTION LAST YEAR BUT THE PREMIUM HAS GONE UP THIS YEAR,ANY GOOD BROKERS,COMPANIES TO CONTACT THAT DO THIS KIND OF THING.THE NOVELTY OF INSURING RECORDS DOES NOT HELP,BUT ANY THOUGHTS WOULD BE APPRECIATED.

BAZ A.

Mine are covered Baz and I use Colonade Swinton Insurance brokers who usually get a couple of quotes each year.

Steve

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IM SURE LOTS OF US HAVE THE FEAR OF RECORDS NICKED I COVERED MY COLLECTION LAST YEAR BUT THE PREMIUM HAS GONE UP THIS YEAR,ANY GOOD BROKERS,COMPANIES TO CONTACT THAT DO THIS KIND OF THING.THE NOVELTY OF INSURING RECORDS DOES NOT HELP,BUT ANY THOUGHTS WOULD BE APPRECIATED.

BAZ A.

=============

Good thread Baz - This is one thing I keep meaning to do so if anyones got advice would be pleased to hear it.

Rich

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mine are insured

premium isn't cheap but peace of mind is worth it and they're irreplaceable

most decent independent brokers will find you a quote

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take photos of your prize items......possibly in situ......(i.e recognisably in your house)....also photos of the extent of your general collection on the racks/in boxes....if you have anything tasty (over £1000) you may have to insure separately...(many policies only cover individual items up to £1000)......ask the insurer.....

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Toughie this if I remember from the last couple of times it's come up. Insurance companies want to cover say an Elvis collection, but can't really grasp individual 45's being worth hundreds of pounds.

Have to be indexed and either photographed, or as I've done pan a camcorder over them. Evidence of ownership that can be verified by an independent expert.

Saying your records are covered and an insurance broker actually paying out a sum you are happy with in the event of loss, are two totally different things. Though as previously stated, Ben Summers did get paid out £7k for a box of LP's that went east ..

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take photos of your prize items......possibly in situ......(i.e recognisably in your house)....also photos of the extent of your general collection on the racks/in boxes....if you have anything tasty (over £1000) you may have to insure separately...(many policies only cover individual items up to £1000)......ask the insurer.....

I had to provide an inventory of items over a certain value. Updated annually. Any big value items notified when bought.

Also, notifying them of price guides, in my case John Manships, and giving his details as an expert on valuations, helps when filling in the proposal form.

Edited by SteveM

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When I was with my ex husband, we went to loads of trouble getting them insured (cant remember who with). They were on our household policy, but we paid extra for covering them. He had to provide a list & get an independent record dealer to verify the prices, he used Pat Brady.

He then got the lot nicked from a do, I think it was about 5k's worth, about 10 years ago.

The insurance company wouldnt pay out for them though as they were taken from a room that wasnt locked. Just a pitfall to bear in mind.

Kirstyx

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My insurance company (Direct Line) told me that they view a collection as individual items, so as long as no one record exceeds the individual item limit they're covered under their normal house contents policy. They advised me to keep a detailed list in case of a claim, and said that they were only insured while they were actually in the house. As I don't DJ and don't own any single record worth over a couple of hundred quid it seems to cover what I need. My son made me an Access database to record them on, if anyone wants a copy I'll e.mail it over.

As Kirsty says though, you only really find out how good your insurance is when you make a claim.

Kev

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