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Seriously.

You spend years buying, assembling, painting and playing with your miniatures and then someday the unthinkable happens and you lose most of them. I know it would be a terrible blow to me psychologically, morally, existentially, but if everything was insured at least I'd get the monetary value back, so I'd be sort of less devastated.

How many of you with large collections have thought about - or actually have - insurance for your miniatures? Do insurance plans like that exist, what and how much do they cover and how much do you pay per year?

IMO our miniatures are like a part of ourselves - we've poured way too much time into them to think that one day they might be taken from us.

I would think that if something big ever destroyed all my stuff (a fire, a flood, etc), Id have much bigger problems to worry about. Sure, it would suck, but anything that could actually destroy all my minis would probably do way more monetary damage on a house

Fire in my house:
Get the parents out.
Get my models out.
Im a tertiary consideration in this equation

After a certain point, the time you spent on making all those models will be worth more than the money you spent to buy them.

All of your models may be destroyed, but you can't get the time you put into them back.

time -> money is nonrefundable after the transfer has been made.

To me there really isn't a point other than making that loss hurt less.

In my opinion the decision to insure your models should be done when you reach the point where your invested labor > price of models, and not where your invested labor + models > estimated sales price.

This is an interesting thought.

A few days ago, me and my group of friends who play 40k together took stock of how much money we had sunk into the game - just looking at all the models, terrain, tools, and paints we had in my apartment, it was well beyond the $7000 mark. That's certainly no small amount of money. And this is a group of casual collectors, to boot (pre-empting the next post where a real player tells me they've sunk tens of thousands into just their Ultramarines )

That's more money than I spent on my car, and that thing is most definitely insured. So from that perspective alone, I could see why insuring them might be a good idea, but I don't know really.

I'd be interested to hear what other people think of this. I don't know much about insurance, so I couldn't realistically gauge how much you ought to spend or expect to receive for a collection of miniatures, or if it's even a possibility.

Added £3000 to house contents insurance over the many years to cover all the models/paints etc have in house.
That's for 10k plus SM 6k plus Tyranids, 6k Necrons, 2k of sisters, 4 very large deep tubs of Lord of the rings and then 2 tubs of other things ranging from old plastic Hybrid models to Stormclaw models.
Not really cover total price of models and time spent but its something in case anything did happen.

Yeah same with me Bullveye, I have added 3k to my contents insurance from it.

Check your policy rider. There is a specific limit for collectibles (like hockey cards). I believe that at thousands of dollars or tens of thousands you would have trouble calling them toys, or at least, my insurance broker thinks so.

Since I have like.... way, way way over the limit, I pay an extra premium, and I have photographs and receipts. It actually didn't cost much (less than a single piece of jewelry valued similarly, for example), because I guess people don't break into homes to steal 40k models

I happen to work in the insurance industry and most peoples 'normal' property coverage should be more than adequate to cover all the damage to their goods in the event of a total loss(like a fire, tornado, or flood)

However, often times in America(cant speak for elsewhere) when people RENT a property, the personal property coverage is a chosen number based on the perceived value of the contents in the property being rented, like an apartment.

We have noticed that the majority of people vastly under estimate the total value of their personal belongings(by a long shot). People just truly don't know how to quantify or fathom how much money they have spent on 'stuff', and when asked to put a price tag on it, usually fall way short.

I would suggest if you have a renters policy that you seriously take a look at your coverage limits to ensure you are adequately insured in the event of a total loss. The increase premium is usually insignificant compared to the money you would be out of pocket in the event of a loss.

For people who own their own homes, your normal property coverage should be about 50-75% of the value of your home, which we have found 9 times out of 10, is more than adequate.

Reminds me that I must update my Tenets insurance to the new place...

With how much Game Workshop charges for these things?
Insure!

Well my friend was driving with his models in the trunk and he got hit really bad, car was totalled (it was a piece of crap anyways) but he lost about 4000 in models. He was pretty heartbroken. I would say insure if it costs over 2000

I have a pool a few feet from my bed room window.

If a fire ever broke out my little tanks are gonna get a crash course on amphibious assaults and submarine warfare. My little tanks will paddle to safty while I rush out of the house after making sure the cats are safe.

 Rezyn wrote:
I happen to work in the insurance industry and most peoples 'normal' property coverage should be more than adequate to cover all the damage to their goods in the event of a total loss(like a fire, tornado, or flood)

However, often times in America(cant speak for elsewhere) when people RENT a property, the personal property coverage is a chosen number based on the perceived value of the contents in the property being rented, like an apartment.

We have noticed that the majority of people vastly under estimate the total value of their personal belongings(by a long shot). People just truly don't know how to quantify or fathom how much money they have spent on 'stuff', and when asked to put a price tag on it, usually fall way short.

I would suggest if you have a renters policy that you seriously take a look at your coverage limits to ensure you are adequately insured in the event of a total loss. The increase premium is usually insignificant compared to the money you would be out of pocket in the event of a loss.

For people who own their own homes, your normal property coverage should be about 50-75% of the value of your home, which we have found 9 times out of 10, is more than adequate.

My broker was worried about the extent of my collection, so recommended that I add a specific rider (which was cheap anyhow). However, I am probably an exception.

By the way, with respect to your ratio: where you own your home makes a big difference. In Vancouver, BC, a 1,000 sq ft, 80 year old old, rat-infested teardown with raccoons in the attic that is condemned and unlivable on small lot of a street that gets 4 hours of rush hour noise every day is still worth $1.5 million. Or more.

This teardown in Vancouver on a 66x130 foot lot (considered "huge" in Vancouver) sold for almost $3 million without a single viewing, in just 24 hours:
http://www.cbc.ca/news/canada/british-columbia/vancouver-s-most-expensive-teardown-1.2640603

This fun site lets you guess whether a house is a crack shack or mansion in Vancouver. It's cute: http://crackshackormansion.com/


Automatically Appended Next Post:

 Engine of War wrote:
I have a pool a few feet from my bed room window.

If a fire ever broke out my little tanks are gonna get a crash course on amphibious assaults and submarine warfare. My little tanks will paddle to safty while I rush out of the house after making sure the cats are safe.

Dark Eldar raiders should float like boats!

Well, looks like it's science time. *Fills bathtub*

My renters insurance covers $25k of "stuff" with limits on jewelry and firearms, that's about it. I did get a rider for firearms because the standard limit is $2,500 and my Wilson Combat 1911 was $4,000, plus all my other guns, the cheapest of which is a $1,700 shotgun. I made sure the rider was enough to cover 2,000 rounds of ammo in each caliber plus holsters and other various accessories. If my place burns down, I'll be more worried about the 8-10k rounds of ammo in my closet going off than my minis. I did have one break in but luckily they covered everything except my Iron Bowl tickets. I paid about $1,000 each for the tickets but they only gave me face value which was $65. After that incident I made sure I didn't have any limits that would prevent me from recouping the full cost of my minis plus money to get new armies commissioned if something happens. I would say if the value if your collection is over $1,000, check with your insurance and make sure you will be covered. A fire or break in is devastating enough without having to buy and paint a whole new army out of pocket.

 Talys wrote:

 Rezyn wrote:
I happen to work in the insurance industry and most peoples 'normal' property coverage should be more than adequate to cover all the damage to their goods in the event of a total loss(like a fire, tornado, or flood)

However, often times in America(cant speak for elsewhere) when people RENT a property, the personal property coverage is a chosen number based on the perceived value of the contents in the property being rented, like an apartment.

We have noticed that the majority of people vastly under estimate the total value of their personal belongings(by a long shot). People just truly don't know how to quantify or fathom how much money they have spent on 'stuff', and when asked to put a price tag on it, usually fall way short.

I would suggest if you have a renters policy that you seriously take a look at your coverage limits to ensure you are adequately insured in the event of a total loss. The increase premium is usually insignificant compared to the money you would be out of pocket in the event of a loss.

For people who own their own homes, your normal property coverage should be about 50-75% of the value of your home, which we have found 9 times out of 10, is more than adequate.

My broker was worried about the extent of my collection, so recommended that I add a specific rider (which was cheap anyhow). However, I am probably an exception.

By the way, with respect to your ratio: where you own your home makes a big difference. In Vancouver, BC, a 1,000 sq ft, 80 year old old, rat-infested teardown with raccoons in the attic that is condemned and unlivable on small lot of a street that gets 4 hours of rush hour noise every day is still worth $1.5 million. Or more.

This teardown in Vancouver on a 66x130 foot lot (considered "huge" in Vancouver) sold for almost $3 million without a single viewing, in just 24 hours:
http://www.cbc.ca/news/canada/british-columbia/vancouver-s-most-expensive-teardown-1.2640603

This fun site lets you guess whether a house is a crack shack or mansion in Vancouver. It's cute: http://crackshackormansion.com/


Automatically Appended Next Post:

 Engine of War wrote:
I have a pool a few feet from my bed room window.

If a fire ever broke out my little tanks are gonna get a crash course on amphibious assaults and submarine warfare. My little tanks will paddle to safty while I rush out of the house after making sure the cats are safe.

Dark Eldar raiders should float like boats!

Jesus and I thought the prices over here in Victoria where bad.

After stating my plans to swim my troops and tanks to safety in my pool I had a really annoying urge to test out if my little tanks actually could swim....



Strangly the little guys could swim about very well depending on the design of the tank. I only tested a few russes (who are drying out now) but I think the troops will sink (no air for buoyancy) but larger tanks like baneblades will paddle around just fine.

So perhaps the escape by water plan isn't too bad.

 Engine of War wrote:

Spoiler:

After stating my plans to swim my troops and tanks to safety in my pool I had a really annoying urge to test out if my little tanks actually could swim....



Strangly the little guys could swim about very well depending on the design of the tank. I only tested a few russes (who are drying out now) but I think the troops will sink (no air for buoyancy) but larger tanks like baneblades will paddle around just fine.

So perhaps the escape by water plan isn't too bad.

New plan: Insurance is for suckers, installing a water slide hookup from modelling room to pool isnt.

Swim to freedom my troops! swim!!

Renter's Insurance is probably one of the better ways to go. Between my MTG collection (P9 included), and my video games, and my 40k stuff... Just make sure whatever plan you end up with that you are well covered and documented. Photos, lists, inventories, etc. Consider keeping copies in a safe deposit box and/or fire/water proof safe.

You can pay a small fee for riders to your policy that cover collections. The biggest issue will be covering anything beyond replacement cost. Your average insurance company will only cover the retail cost of miniatures. They will not take into account the time spent on painted miniatures, an estimate on the painted value of said miniatures, or if it contains OOP miniatures. So, if you have a beautifully painted army that bursts into flames or floats out to sea, getting a check to buy some new minis may fall very short of replacing what you've lost.

 the_Armyman wrote:
You can pay a small fee for riders to your policy that cover collections. The biggest issue will be covering anything beyond replacement cost. Your average insurance company will only cover the retail cost of miniatures. They will not take into account the time spent on painted miniatures, an estimate on the painted value of said miniatures, or if it contains OOP miniatures. So, if you have a beautifully painted army that bursts into flames or floats out to sea, getting a check to buy some new minis may fall very short of replacing what you've lost.

Solution - Send a friend X amount of dollars via PayPal with a note saying "For commission painting". Have your friend send you the money right back and just eat the 3%. Hang onto to printout of receipt. Then when something happens, show that receipt to the insurance company and you will be reimbursed for whatever you "paid" to have your army painted.

BrianDavion wrote:

Jesus and I thought the prices over here in Victoria where bad.

It would be really bad in Victoria if the ferries weren't so ZOMG expensive. I went there a while ago with my wife. Boy, those prices are insane now.

By the way, one of my gaming buddies is a realtor. He likes to say, "If 40k were like Vancouver real estate, a box of tactical space marines would now cost $300".


Automatically Appended Next Post:

 the_Armyman wrote:
You can pay a small fee for riders to your policy that cover collections. The biggest issue will be covering anything beyond replacement cost. Your average insurance company will only cover the retail cost of miniatures. They will not take into account the time spent on painted miniatures, an estimate on the painted value of said miniatures, or if it contains OOP miniatures. So, if you have a beautifully painted army that bursts into flames or floats out to sea, getting a check to buy some new minis may fall very short of replacing what you've lost.

Part of the problem is that in order to insure over approximately $5000 - $7000 in a collection, you need an appraisal, which isn't exactly easy on miniatures that you paint yourself. There's also likely a coverage limit for collectibles.

I'm just insured for the replacement cost of the models. I figure, if it happens, that is the universe's way of telling me to start up all new armies. I would miss all my Squat minis though :(

As an agent all i can tell you is, if you don't have insurance, you're asking for it. I would say that of course, but I have been in the hobby and have seen the crushing effect losing an army has on people. It's not pretty and it can end the hobby for them.

So yeah. Gt insurance. Its DIRT cheap and if you're spending on a hobby this expensive, whats the point of NOT having it?

In my country I pay around 100USD per year for "home insurance" or whatever it would translate to, and it covers every item I own ( furniture, phones, miniatures, my shirt ) up to 20,000 euros. It also covers your home with no limit to the amount insured, the 20k is only for your "household" items or whatever.

So I could lose them all, and they would all be insured to beginwith.

Albeit read the fine print. There are some limitations. for example, painting services may not be covered.

Yeah I don't think anything besides the retail price will be taken into account unless you have a receipt.

Luckily I don't get attached to my miniatures and I paint them myself and enjoy it, I'm a Codex hopper anyways.

I'm a hoarder. and um... yeah. I'd care a lot. Lol.

At one point a number of years ago, I was going to write down all the different models I had for precisely the purpose of keeping a record for the insurance. My hand got tired before I finished the first box (because I haven't written much of anything for the better part of a decade) so I gave up.

I did find out (when our basement flooded and ruined a bunch of stuff) that our insurance company needs to know what was paid for the items, not what it would cost to replace them. Since I've been into WH40k for nearly a decade and a half and can't remember what I bought when, and since many of my miniatures are custom ones made from parts from a few different kits...

Sometimes I do wish that my armies would get misplaced or destroyed or otherwise go away, because I've got a ton of models in craptastic quality that my packratness (combined with my parents' greater packrat nature) won't let me just donate away to some thrift store. And it'd be nice to have a clean slate and not have to worry about storing hundreds and hundreds of models that'll probably never ever get used. I suppose I could just get uppity and say, "Look, I'm never going to use these things, and a bunch of the armies I do use have models that look like crap and will never see the tabletop. I'm going to get rid of them and that's the end of it."

There are two different types of insurance and one is replacement cost, the other is actual Cash value. Dont buy an actual cash value policy. Ever. Just my advice. the savings wont be worth it.

Also, you have two options on a Replacement cost policy: take the money and run in which case you only get what street value is...or you can ACTUALLY replace them in which case you get full value.

Kind of a lengthy subject for this forum but there's the basics. Look carefully at any policy and make sure you are certain of its provisions.