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Old Jun 21, 2011, 11:28 PM
Registered User
Milford Mi.
Joined Jan 2011
163 Posts
Discussion
Insurance

Hi , Guys, I was showing my Cobra to a woman who helped create the grapics
for my trailer, when she asked me ifi i had it insured? I said not specifically. I assumed my home owners would cover possible loss ( fire or theft) but now I am not sure.
Has anyone else thouht of this situation? I wonder how you would assess a
value of your projects. I don't know if you assign a value and pay for insurance accordingly or need to have it appraised and by whom. What do you guys think?
Thank you ,Gary
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Old Jun 22, 2011, 01:30 AM
nick 30
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Joined May 2009
2,790 Posts
as far as i know (under my home and contents insurance) it should be covered, talk to your insurance company and see what they say (same with car insurance)

all my boats are insured by my club and bank, its a good idea to have it all insured as here in england, people are stealing rc craft (boats, tanks etc) all the time

nick
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Old Jun 22, 2011, 08:40 AM
Veni, Vidi, Feci
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Motor City
Joined Dec 2004
12,419 Posts
My agent was rather fuzzy about how the home owner's policy might cover specific items of notable value... they did suggest getting professional appraisals for models that might be more valuable than my deductible.

My real concern is loss during transportation (accident or theft)...
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Old Jun 22, 2011, 12:16 PM
Woodfumbler......
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Copenhagen. Denmark
Joined Apr 2010
1,204 Posts
How do you insure "priceless" items??

Wood 5
Bits n parts 20
Motor 20
Radio gear 20
1500 hours ?????
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Old Jun 22, 2011, 01:20 PM
Veni, Vidi, Feci
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Motor City
Joined Dec 2004
12,419 Posts
Professional appraisal.

How much are the Mona Lisa's canvas and oil paints worth?
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Old Jun 22, 2011, 02:09 PM
"Take the Cannollis"
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Lake Martin ALABAMA
Joined Feb 2006
877 Posts
glgirvin:

You had me waiting for the punchline......

" I WAS SHOWING MY COBRA TO A WOMAN......................"

Interesting thread... On the "Antiques Roadshow", they are always saying that artworks ( which I suppose our R/C stuff is) should be insured separately.

Never gave it much thought.........
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Old Jun 22, 2011, 02:39 PM
Woodfumbler......
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Copenhagen. Denmark
Joined Apr 2010
1,204 Posts
Do you think he wants her to make (tato) inch marks on his "cobra"??? he he
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Old Jun 22, 2011, 03:11 PM
KC8WPF
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Euclid, Ohio, United States
Joined Sep 2004
3,748 Posts
You should be able to get a "collectibles" rider attached to your home owners or renters policy. If the local agent isn't sure about your models, ask them how they insure other collections like firearms, jewelry, etc. Pictures of your completed models along with catalog info (kit, radio, electronuics, etc) is useful. Depending on the model, you could possibly use Bluejacket Shipcrafters "finished" (assembled) price as a guide.
MAHOGANY RUNABOUT - Finished: $2650 | Kit: $300
MAINE LOBSTER BOAT - Finished R/C installed: $2500 | Kit: $385.00
SEGUIN - Finished: $2650 | Kit: $220
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Old Jun 22, 2011, 09:17 PM
Cheif Bottlewasher
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Canada, NS, Sydney Mines
Joined Sep 2005
3,181 Posts
Ive had this conversation before regarding my diecast collection .

bottom line consider a policy seperate ..or as an umbrella to an existing policy..Pictures,inventory,apprasials..fire proof safe or deposit box at the bank...update it once a year or after every note worthy purchase..
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Old Jun 23, 2011, 12:49 AM
nick 30
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Joined May 2009
2,790 Posts
not sure if it was covered above but another thing you can do is to mark everything (obviuosly inside the hull) and take photographs of all your models for the police and (if they do it) the insurance companies, thats something else i've done and just add to the album when another model is completed
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Old Jun 23, 2011, 10:14 AM
Registered User
United States, TX, La Porte
Joined Apr 2007
1,668 Posts
I can tell you this. After I lost some of my models in the flood my insurance guy said that he could give me replacement value for the kit and parts but nothing for the hours spent putting it together. If I wanted money for that I would have to have had a declared value rider on my policy and paperwork to prove its value from an outside source.
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Old Jun 23, 2011, 03:19 PM
GILL
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United States, NJ, Hopatcong
Joined Aug 2005
2,574 Posts
We did have an appraiser come in when we redid our home owners. My agent said it would be too expensive for me to put all the models separately. So I have "house and contents". The models that were appraised are fully documented with The appraisal, pictures, bill of materials and estimated value. I will have the appraiser come in about every 2-5 years. This not only covers my models but the other colectables in the house.
All others are documented with pictures, building time and b/m. I also have a rider on my car insurance for transport. The trailer again is covered with contents. It cost a little bit more but I'm covered.
A copy of all documentation is in a safe deposit box and a copy at my mother-in-laws house.
When I run at the club pond I am cover by the town insurance since SOSS is a town sponsored club under the South Orange recreation dept.
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Last edited by GILL RC; Jun 23, 2011 at 03:24 PM.
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