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Separate Insurance Policy - LP's, Memorabilia, Etc

Afternoon All,

I was recently informed by my homeowners insurance company that not a single LP, poster, etc. I own is covered under personal property replacement.

They suggested Lloyd's Of London, which is a little ridiculous, since I'm not a store or franchise.

Can anyone out there make a recommendation for a place that's reasonable? I don't have a gigantic collection, but I certainly have enough where I need this stuff covered in case something happens.

Any help is greatly appreciated!
theunderlyingtheme
mrmitch
359 posts
 
State Farm covers my collection as long as you have documentation of worth. A rider attached to the policy covers my collection. I made a database using Excel, some go as far as to take a pic of front and back of album covers.
john_fink
140 posts
 
I'm an agent. Most carriers can cover albums, etc under a fine arts rider. Negotiate the rate given your exposure. Have a maximum per album limit and a total limit for your collection. The benefit by scheduling this stuff is that there is no debate at the time of loss and there is no deductible.
paul_graham
197 posts
 
First of all, get a new insurance Agent. Yesterday.

This is insurance 101, and you should never trust the professionism of an agent that gave you such stupid, inncorrect advise.

First of all, if you have replacement costs on the rest of your personal belongings (furniture, clothes, dishes, etc) this will extent to your personal music collection, most likely with a cap limit of about $1000. Get them "schudeled" with your homeowners like you would expensive jewelry, guns, paintings, yes it will be expensive (very high fraud in this market, experts think 50% fraud)but this is the way to do it.

Get a new agent, really.
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