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Is your Lego collection insured ?!

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Is your Lego collection insured ?!

Postby bigospedros » Tue Mar 17, 2009 2:55 am

My Mum came to visit me at the weekend and whilst she tutted, muttered and generally had a whinge about how much Lego I own for a 30 year old ( ... btw, this got quite a short reply, ending in "off" from me ;) ) she did ask a question about whether it was all insured.

Now, I know I mentioned it on my contents insurance but I wasn't really sure of what it was really worth. So, I downloaded my set list from Brickset and then used the Average Used Set selling price from Bricklink to come up with a value of sorts.

It came out at just over £5000 :o

I think I'll need to discuss whether it's covered when I next have to renew my contents insurance ... in May. But, I was wondering, as some of you have much bigger collections than me, do you have it insured in any way ?
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Re: Is your Lego collection insured ?!

Postby BigBenKenobi » Tue Mar 17, 2009 1:53 pm

Well, I don't have it, but there was a thread in FBTB 2.0 concerning this topic, and I know some members do have insurance for their collections. If you have that large of a collection, I'd think insurance would be a pretty good idea...after all, it is a large investment. Here's the link :D :

FBTB 2.0
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Re: Is your Lego collection insured ?!

Postby thepatient » Tue Mar 17, 2009 2:17 pm

Ironically, when I hit that link to the old FBTB, Big Pete is the second posting.
<O> <O>
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Re: Is your Lego collection insured ?!

Postby bigospedros » Tue Mar 17, 2009 2:32 pm

lordy, I totally forgot about that thread!! hehe

anyways ... I still think it's a current topic to discuss ...
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Re: Is your Lego collection insured ?!

Postby BigBenKenobi » Tue Mar 17, 2009 4:40 pm

bigospedros wrote:lordy, I totally forgot about that thread!! hehe

anyways ... I still think it's a current topic to discuss ...

I was surprised I remebered it too. But yea, this is totally relavent considering most of us are continually expanding our collections, and the amount of money spend on lego sets. If I could, I would definately consider insurance because I have spent a great deal of money, time, and effort (as many have) on my collection. I mean seriously, what if something did happen...
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Re: Is your Lego collection insured ?!

Postby Rook » Wed Mar 18, 2009 8:08 am

I have $3,000 CAD included in my main insurance policy for hobby items. That would NOT cover my Star Wars Collection. I spoke with my insurance company and I would need a hobby specialist to appraise my collection and then I could get a rider added to my policy. Right now I'm still looking for someone that is qualified to do the appraisal. So if you know someone in Ontario let me know.
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Re: Is your Lego collection insured ?!

Postby dWhisper » Sun Mar 22, 2009 11:56 am

Not specifically, though I have a blanket "posessions" amount that's in there, and includes my collection. I should probably update that number sometime, since I've added quite a few things in the past couple of years.
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Re: Is your Lego collection insured ?!

Postby Mud » Mon Mar 23, 2009 2:16 pm

Rook wrote:I have $3,000 CAD included in my main insurance policy for hobby items. That would NOT cover my Star Wars Collection. I spoke with my insurance company and I would need a hobby specialist to appraise my collection and then I could get a rider added to my policy. Right now I'm still looking for someone that is qualified to do the appraisal. So if you know someone in Ontario let me know.


I'm in Ontario (Canada) also, & I have an additional ryder on my household insurance specifically for my Lego collection... all I needed was a documented inventory and an acceptable "trades" estimate of it's value (I submitted a Bricklink seller's inventory with average sales over the past 6 months) an appraisal is not essential or even necessary if you can prove resonable market value yourself (depending on your carrier I suppose). The caveat being that I'm not currently the holder of the household deed, thus my insurance is actually classified as "Tenant insurance" & thus it's open to all sorts of easy ryders. it's something like $19.00 for 75,000.oo coverage (theft/fire/vandalism)
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Re: Is your Lego collection insured ?!

Postby Blondie-Wan » Wed Mar 25, 2009 2:08 pm

My LEGO collection? Pfft. I don't even have health insurance, alas. :(
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Re: Is your Lego collection insured ?!

Postby Drock » Sat Mar 28, 2009 10:00 am

Wow, I had never thought of that. And when I first read this thread, I thought it was a joke.

But when I think about it, the value of my collection will probably soon exceed what I paid for my wife's engagement ring. :lol: We have it on our home owner's insurance.

Still though, I doubt I will insure my LEGO.
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Re: Is your Lego collection insured ?!

Postby Duckman » Sun Apr 05, 2009 4:52 am

The irony of this is.... if you insure the lego for its true worth, our wives will probably leave us when they realize what we've spent. If you don't insure the lego, .... well, thats anyones gamble.
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Re: Is your Lego collection insured ?!

Postby fragment » Mon Apr 06, 2009 4:50 am

I hate insurance and extended warranties!!!!
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