A random question about insurance

[Amazon warrior]

Just something that occurred to me the other day. Do people insure their minis? I\'m not talking about mine, obviously, but I wondered about professional painters, Golden Demon winners, etc. I would imagine damage would be the biggest worry? I personally am not worried about minis being stolen from my flat because I don\'t think that most thieves would know what they were worth, but it must be a worry for people at shows, etc. ???

 

[junior elf]

Good question

 

[rocketandroll]

If taking minis with you to an event, they could be covered under a standard travel insurance policy as part of your luggage.

Likewise, if stollen from your house, they\'d be covered by your contents insurance...


I think the problem in both cases would be the difference between their provable value as minis (a few quid) and their value as a piece of art which has had XXX hours of work put into it.

If it\'s a mini you\'ve bought from another painter pre-painted and you have some proof of price then you could viably claim that value back... the issue would be if YOU had painted it... proving it\'s value to you as a piece of art you\'ve created is the hard bit.

I\'d think that artists probably have policies which cover their work pre-sale so, if for example they were working on a commission that when finished was to be paid for at a cost of £10K, but that was stollen a few days before it was handed over and paid for... I assume they could get a policy which covers it for more than the value of the materials.


Simple answer is... there probably is a way it could be done, but I doubt most people would think it was worth it... and you probably couldn\'t get a policy that would cover it for damage in transit.


Ben

 

[BarstoolProphet]

Depending on your home/apartment policy, there are provisos for collections. For example, my comic collection is insured for $50,000, should my place be robbed or burned down.

You should speak to an insurance agent about coverages available to protect your collectables. And you should be able to get insurance for items while travelling. I\'ve just never had the need, so don\'t know where from.

 

[freakinacage]

thankfully my painted ones are worth nothing!! i onyl have a few that i would be gutted to loose. the main thing would be the thousands/millions of bitz that i have accrued over the years

 

[Rigged4Mini]

How do you prove how much the mini is worth?

 

[Dragon Forge Design]

In the USA, you can take out riders on things like collections and so on. You would have to document it and keep records of what you paid and so on.

I knew a guy that once had a huge painted collection he had over $25,000 invested in. He had his agent come to his home and examine it. They photographed it and determined an insurable value.

My insurance policy on my house cover entire contents..so I guess if they go up in a big flame Ill get something for them.

 

[demonherald]

actually just had my stuff reevaluated and insured under my contents cover at an additional rate. my own painted work I ain\'t too worried about A) Because I don\'t have much I sell it all and B) I still haven\'t painted anything that I consider worth keeping a hold of myself.. however unpainted is another matter and to replace what I have (which is technically stock) would run into thousands so the extra cover is to make sure of that..

Always fun to know that minis are worth more than the entire collected contents of non hobby stuff in my house..now that\'s priorities.

 

[demonherald]

Originally posted by Rigged4Mini
How do you prove how much the mini is worth?

I enquired about that also , The insurer was a little stumped at first but basically unless you\'ve bought and paid for it at say an auction then there is no absolute proof on it\'s value. high value things need evaluating seperately . (much like an house full of old furniture is an house full of old furniture until everything is individually catalogued and listed as antiques with values)

Now my painting is registered I can work out an insurablen hourly rate of pay which is then applied to the hours spent on a piece to get a rough evaluation...

Also if any fill time painters are on here it\'s wort checking any health insurance policies you have as it is possible to upgrade cover for such as eyesight and hands....can never have too much peace of mind.

 

[bodiscool]

cant say anything about insurance.but i can say wot its like to have ur minis swiped.as mine were.allmost my full collection including gd winners 1 of witch i was offerd £1000 for !!!!
cant say im too pleased lol.1 mini i spent allmost 6 months making working 12 hrs a day on.it was painted in stages due to the size so i painted every hightlight on papper to check continuity 156 highlights repeated 18 times.
I WANT THEM BACK!!!! im a bit dipressed now ! lol

 

[Amazon warrior]

Wow! Some interesting answers- thanks! I did think the challenge would be proving that a particular mini was worth rather more than the 5-10 quid paid for it in the shop. I really don\'t have anything that I would consider insuring at the moment, but a girl can dream!

Sorry to hear about your missing minis, bodiscool. I hope you get them back some day.

 

[bodiscool]

yer me 2 a friend from my local gw shop thinks he cant track them down so hopefully il get them back and be able to post them