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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
thorman
1,262 posts
 
You should be able to get a " Rider " for your contents under your Homeowners Policy..I have had one for years and collected many years ago on a Audio Research SP-8 catching fire ( Telephone pole Transformer blew up on Xmas day ) and torching the unit...I called and had a check for $1200 with 2 weeks....
herman
2,215 posts
 
My State Farm agent told me that the only limit on art, albums, and stereo was the overall limit for personal belongings. They are not treated like jewelry and guns that do have limits. He said the trick is to have a good record of what you have and an appraisal on anything that is higher than normal in value.

I'll double check now that you 've brought it up though.

.
theunderlyingtheme OP
90 posts
 
My policy allows for "musical equipment" under the personal property section - so my guitars and (I assume) stereo equipment is covered.

But LP's, posters, etc. fall under memorabilia or anything where age/history/collectibility makes it valuable.

So a limited edition LP from 2008 wouldn't even be covered.
hifihvn
943 posts
 
I haven't ever had a claim,but I hear have good pictures of everything,and proof x2,of replacement cost also if it is covered somewhere.
djones1915
53 posts
 
Simply get a "Rider" as mentioned earlier for any item you have of special worth--only insure it for the replacement cost--NOT the appraised value--the insurance company will try first to replace the item with one of their "many" contacts, or just pay replacement value. Most policies have a normal $5000 max on electronics & jewelry. You must detail & "Rider" everything else above normal policy limits. If your INS company does not do this---change quickly.
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