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Reply to "Insurance for collectibles"

@ADCX Rob posted:

So, we will need a tipping point specified & defined, then, when does a toy become not a toy but something else, like a collectible?  Pretty sure anything I have now can be replaced with a current or recent production item.

It all depends on the specific items, the nature of the loss, the wording in a particular company's policy, and how their claims department interprets it - there's no definitive answer for everyone - that's why I have repeatedly (in this thread and others) suggested checking with your insurer and getting it in writing.  Some companies consider collectible trains to be "fine art".  To your example, if you would be satisfied with a mint Postwar F3 being replaced with current production (or perhaps a Menards F3), then you're probably right about your coverage.

It's also important to remember that the contents limit is generally half of the value of the structure.  Many train folks have tens of thousands of dollars worth of stuff - in the event of a total loss, this can quickly eat into money that is needed to replace clothing, furniture, electronics, appliances, etc.

Your house, your trains, your money - it's up to you regarding how much risk you're willing to absorb and the amount of time, effort, and money you're willing to invest in fighting an adverse decision.

OGR Publishing, Inc., 1310 Eastside Centre Ct, Suite 6, Mountain Home, AR 72653
800-980-OGRR (6477)
www.ogaugerr.com

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