[78-L] Collection insurance

[Cary Ginell]

This is a company that I've spoken to on several occasions over the past few years. I think it would be worth everyone's while to check it out. Unlike homeowners insurance policies, this company does not require an item-by-item inventory. I have one, fortunately, and will be investigating this in 2013. They are aware that not all records are made from vinyl. I believe I gave them an estimate of the size and value of my collection and they asked something like $300 per year to insure it. This would certainly be worth it. 
http://www.collectinsure.com/
Cary Ginell

> Date: Fri, 14 Dec 2012 12:53:51 -0600
> From: bmcclung78 at gmail.com
> To: 78-l at klickitat.78online.com
> Subject: Re: [78-L] Collection insurance
> 
> About a year ago my wife asked me to find out what it would cost to insure
> my 78s.  I had over the years used Osborne to get some idea of prices.  I
> used the low end of his range per title for the ones I had cataloged even
> if the disc was E+ and gave State Farm a ballpark dollar number and their
> estimate was such that we declined.  They simply used a formula that was a
> percentage of the total estimated value.
> 
> But it is an excellent question and I'd like to hear from others as well.
> 
> And don't get started on Osborne. I don't know what else there is that is
> as comprehensive or simple to use.
> 
> On Fri, Dec 14, 2012 at 12:18 PM, Cary Ginell <soundthink at live.com> wrote:
> 
> >
> > Have we discussed various ways of insuring our collections recently? It
> > seems that there is a growing number of websites that offer protection for
> > loss or damage of "vinyl" collections (although shellac is rarely
> > mentioned). Here is one such company:
> > http://www.recordcollectorsguild.org/
> > Companies that sell regular home insurance, such as State Farm, also offer
> > insurance, but I'm wondering if you wouldn't get better protection from
> > companies that specialize in collectibles.
> > I would like to know who among us has insured their collections, with
> > whom, and what they had to do to get it done. I've seen companies that want
> > you to photograph each and every item in your collection (unreasonable for
> > most of us), but most will accept a database. What I'm concerned with is
> > how to determine the value of each item and how much information is needed
> > for each item. I have a database with every record I own listed, including
> > title, artist, label & catalog number, but no condition and no value
> > indicated. I was considering going through all of this next year and at
> > least putting rounded figures for each item. The average 78 in E condition
> > would probably be worth $5-10 without really stretching it. But what about
> > things like test pressings, DJ copies, alternate takes, etc?
> > In the wake of Hurricane Sandy and other unknown, upcoming natural
> > disasters that are probably just around the corner, I think it is
> > imperative for each of us to protect our valuables from occurrences that
> > are inevitably going to happen (and I'm coming from earthquake country, so
> > I know there's the threat of The Big One that is imminent at any time).
> > Does anyone have their collection insured? If so, with whom, and how did
> > you go about doing it. Let's discuss.
> > Cary Ginell
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