So today I watched a video from KenKen showcasing his $10,000 figure collection (www.youtube.com... in case you want to see it too; no I'm not affiliated with him), and I decided to calculate the worth of my own figure collection. After several hours and lots of checks on my math, I got the general worth of everything at the original retail value, with exceptions for a few that I knew were worth significantly more (no I did not calculate decreases in price at this time). The number, which I'm not sharing in this post, was a lot higher than I expected.It's been an idea in the back of my head to get collector's insurance, but now I'm really thinking it might be really worth it. I live in a first floor apartment facing the street, and it isn't a secret from my neighbors that I collect anime figures. I had neighbors that burned down our apartment building once. Also I'm really clumsy.
After checking out collectinsure.c... and putting in the estimate of what my figure collection is worth (I realize this number may need rework for current market value, and to include worth of non-figure collectibles), I realized that insuring my collection may be worth way less than expected. I'm thinking it's time to rip off that band-aid and get this stuff insured.
The questions: Does anyone here have experience with insuring a collection? Do you have any advice for those of us who are interested in doing so? Where would you draw the line with what should be included (Manga? Rubber straps? Artwork bought at conventions?)? How did you calculate what your collection is worth, particularly in the cases of damaged figures/boxes or even missing boxes? Do you have to keep an eye on value drops and update your insurance policy? Lastly, who is your collection insured through?
Does anyone else have questions about insuring collectibles? Post them here and hopefully someone will come along and answer those questions. Thanks in advance!
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