First post, by feipoa
- Rank
- l33t++
Do any of your try to insure your hobby hardware collection with your home insurance policy? Presumably, you'd get the value back from the insurance company in the event of a total loss, e.g. major fire.
A lot of insurance companies have a special add-on section for Collectables because they do not want collectables covered under the more basic category of Personal Property. The cost for the home owner to insure Collectables is usually double than the cost for Personal Property, on a dollar-for-dollar basis.
Some insurance companies only let you insure Collectables up to $20,000 without an appraisal, while others allow up to $50,000 without an appraisal. At one point, I thought I'd make a spreadsheet of all the old computer items I have. I got about 2 hours into the list and realised there was no way I'd be able to list everything within a reasonable time-frame.
I was also confused about which computer items get covered under Personal Property vs. Collectables. Presumably the computers you use everyday are under Personal Property, but what about computers you setup just to play certain games? - are they Collectable or Personal Property? What about computer hardware you acquired over the years, not as a collectable, but because you never threw anything away after decades of upgrades - Personal Property? This seems to be a blended region for insurance purposes. Boxes of old CPUs - Collectable?
I'm doing home insurance shopping and was wondering how some of you deal with this predicament?
Plan your life wisely, you'll be dead before you know it.
