- Joined
- Jan 28, 2009
- Posts
- 4,226
Ok so I readily admit, this is going to be a dumb boring topic. But it's something I came across recently, and maybe it'll benefit someone on here.
So the wife and I have renters insurance...blah blah blah. It covers "replacement" value of everything, so if god forbid something happened, all our stuff (including my collection) would be paid at the price it would cost to obtain another one, not "depreciation" value, which on retro games is usually NOTHING.
I was redoing my insurance and asked the agent what the total insurable amount of my policy was. She told me, seemed a bit low, so I wanted to increase. She asked me what I was increasing for, and I said A) wife's engagement and wedding band B) some new furniture and C) more gaming shit.
So come to find out, if you have enough games to be considered a "collection" (it was something like 100 or more) as opposed to a "posession", than my policy only covered the first $2500 of what could be destroyed / stolen. After that maximum of $2500, I'd get nothing.
Needless to say, especially with the Neo Scene, that # would be less than my two most expensive AES carts.
They (State Farm) considered it a "collection", much in the same way a stamp or baseball card "collection" is not a possession. It's a specialized category that needs a "Rider" on the policy, much like my wives rings do.
Long story short : if you think your gaming collection is insured, ask your agent the specifics about a "collection" and what is covered. Some of you might find out that your in fact NOT COVERED, like I did, and can then purchase the rider (pain in the ass but worth it, you need to catalog your collection, with prices, some photos, and submit it) and make sure your protected.
That's it. Thought it might be useful...but I warned you...very boring topic!
So the wife and I have renters insurance...blah blah blah. It covers "replacement" value of everything, so if god forbid something happened, all our stuff (including my collection) would be paid at the price it would cost to obtain another one, not "depreciation" value, which on retro games is usually NOTHING.
I was redoing my insurance and asked the agent what the total insurable amount of my policy was. She told me, seemed a bit low, so I wanted to increase. She asked me what I was increasing for, and I said A) wife's engagement and wedding band B) some new furniture and C) more gaming shit.
So come to find out, if you have enough games to be considered a "collection" (it was something like 100 or more) as opposed to a "posession", than my policy only covered the first $2500 of what could be destroyed / stolen. After that maximum of $2500, I'd get nothing.
Needless to say, especially with the Neo Scene, that # would be less than my two most expensive AES carts.
They (State Farm) considered it a "collection", much in the same way a stamp or baseball card "collection" is not a possession. It's a specialized category that needs a "Rider" on the policy, much like my wives rings do.
Long story short : if you think your gaming collection is insured, ask your agent the specifics about a "collection" and what is covered. Some of you might find out that your in fact NOT COVERED, like I did, and can then purchase the rider (pain in the ass but worth it, you need to catalog your collection, with prices, some photos, and submit it) and make sure your protected.
That's it. Thought it might be useful...but I warned you...very boring topic!
