Insurance?
- Thread starter JTurabaz
- Start date
Three things:
I have renter's insurance.
My SO (whom I live with) is my insurance agent.
My cues are not covered.
Freddie <~~~ uncovered
Collect insure
I have my cues insured thru collectinsure...insurance for collectables...very loose minimal exclusions...they're insured from loss while at a bar with them...
Like $60 annually for like 12k worth. Cover cases as well. They will require a receipt or a statement from a cue maker as to value upon loss.
I have my cues insured thru collectinsure...insurance for collectables...very loose minimal exclusions...they're insured from loss while at a bar with them...
Like $60 annually for like 12k worth. Cover cases as well. They will require a receipt or a statement from a cue maker as to value upon loss.
I would take digital photos of all your valuables including your cue.
Shouldn't be hard to establish a value. Have the maker give an estimate on what it would cost to replace it.
Shouldn't be hard to establish a value. Have the maker give an estimate on what it would cost to replace it.
I have my cues insured thru collectinsure...insurance for collectables...very loose minimal exclusions...they're insured from loss while at a bar with them...
Like $60 annually for like 12k worth. Cover cases as well. They will require a receipt or a statement from a cue maker as to value upon loss.
Awesome info here! Not sure how much renters insurance will cover such a portable item as a cue and case. There is no telling where it was when the theft happened. Of course, take full photos and have documentation, but double and triple check with your agent regarding specific items. If they aren't covered, 8onthebreak has given you a great lead at a low cost to insure your cues.
Insurance
I was a agent for 39 years. You do need to talk to your agent. The coverage will vary from company to company, no coverage for items away from the premises without a rider normally plus there can be limits on sporting goods on premises. If availabe you want AGREED VALUE coverage, maybe called something different by other companies or in other states. This is the broadest coverage, if anything happens you will have to provide a proof of value from cue maker, internet, etc.. I hope this helps, but please talk to your agent. It is easier to solve a problem before it happens and much less expensive.
I was a agent for 39 years. You do need to talk to your agent. The coverage will vary from company to company, no coverage for items away from the premises without a rider normally plus there can be limits on sporting goods on premises. If availabe you want AGREED VALUE coverage, maybe called something different by other companies or in other states. This is the broadest coverage, if anything happens you will have to provide a proof of value from cue maker, internet, etc.. I hope this helps, but please talk to your agent. It is easier to solve a problem before it happens and much less expensive.
I was insuring my cues through a specialty insurance company but it was expensive. Specialty companies like Collect Insure offer expanded coverage which might include travel and shipping, which homeowners may not.
I checked with my Farmer's agent and he advised that my collection would fall under the personal property on my homeowner's (since it's not specifically excluded). I provided him with a written record, inventory and valuation list just for the record, and I saved copies of the correspondence.
We discussed valuations. The method of valuation in specialty items is important. The main issue is to document your cue with photos and keep notes on condition. Keep receipts for it, and keep track of any sales that may occur, listings on dealer's sites etc. If a claim is made, you may need these documents to determine a value. You may be able to get a letter from a dealer or expert as to the replacement cost.
Insurance companies often go to outside vendors to establish values. They can be competent or incompetent. For example, they may value a $4,000 Gina by a cheap look-alike cue that's worth $150. So it will then be up to you to discuss these issues with your adjuster so they can arrive at an agreeable settlement.
There are loopholes in insurance. For example, some property may be covered under theft and fire, but not damage. Or if a pipe springs a leak and damages your cue, you might be covered, but not if rain leaks through the ceiling on it.
It's best to read through your insurance policy and understand it. I go through my cue collection once a year, photograph and inventory it, make notes on the condition of each cue, and archive it in a couple of computers at various locations. I keep receipts of purchases. It's a pain but it helps me keep track of my stuff and will definitely help with establishing the values in the event of a theft.