[guinness]

I had looked into it for my arcade collection (at one point I had over $50K in arcade\pinball machines in my house). 25 year old wooden cabinets are not forgiving if my basement flooded...so I thought the insurance would be good. My home owners said they wouldn't be covered...and the premium I was quoted for them was pretty high ($300 a month I think) so I opted not too.

For chips I'd be more apt to buy a fire proof safe (if I cared) vs dealing with insurance companies. -tim

[aquaman]

Originally Posted by guinness

I had looked into it for my arcade collection (at one point I had over $50K in arcade\pinball machines in my house). 25 year old wooden cabinets are not forgiving if my basement flooded...so I thought the insurance would be good. My home owners said they wouldn't be covered...and the premium I was quoted for them was pretty high ($300 a month I think) so I opted not too.

For chips I'd be more apt to buy a fire proof safe (if I cared) vs dealing with insurance companies. -tim

I believe the heat of a fire would warp the chips....even in a fire proof safe. They probably wouldn't ignite though.

[ipgyst]

I insure some jewelry and a laptop (so I can drop it) separately, I should insure my board games since they might be considered "collectible". If I had some killer poker chips, I'd consider it with them too.

[jamby]

Funny that you mention it. It was just recommended to me by a friend last week. I don't do anything special now other than homeowners.

[guinness]

Originally Posted by aquaman

I believe the heat of a fire would warp the chips....even in a fire proof safe. They probably wouldn't ignite though.

You're probably right. I figured we've come further along in safeology.

[noelsarchs]

Have not read this thread yet, but as I had about $50,000 worth of chips laying around, I tried to insure them.

Not easy as they have to be appraised somehow. Insurance also has this thing called depreciation and rarely covers replacement value either. I know all this from losing everything in a total loss fire 3 years ago.

[EmptyPocs]

hmmm, time to call Lloyds

[Nexttime]

Travellers quoted me $3 per $100 per month. All items had to be inventoried and itemized with details like maker, year made, sales receipt, etc. And this was BEFORE they would insure the items. They made it quite clear that even if I did provide all the above they might still decline the policy. Oh and that they would only reimburse me for what I paid for them not what it would cost to replace them. So the deals I got on some hard to find chips wouldn't cover the cost to get them again.

I called them first as they did a couple of policies for us in the past. I'm still calling around to see if I can find something a little easier.

If anyone finds a good place, please let us know. Until then I am sticking with my Smith and Wesson insurance policy.

[the3rd]

I think this is a case of insurance companies just not understanding what they are being asked to insure. This is the case with lots of collectibles. Keep looking and you can find a company.

[shanghai_sparky]

A couple large Sicilians would be cheaper than insurance. Then again, "insurance" is a polite term for Don Corleone's "Protection" Service.