Marker Collection Insurance

[cellophane]

Does anyone have their collection listed on their insurance? I know there are some rather expensive collections out there and hard-to-find/replace markers and I'm curious. Homeowner's / Renter's covers up to an amount, but I'd wager a lot of the collections I've seen are well over the default amount. If you do- how is it calculated? In my case most aren't too hard to replace, other than my Joy Division Prime as it is 1 of 2, but it would suck if I had to go through that...

[punkncat]

I have no special riders on my homeowners any more. I calculated the replacement value. I compared that to the expenditure I wanted to make for insurance along with what % I was willing to lose against it and got a policy.

[wunderbarsafari]

For the average bear, your HO or renters policy should be sufficient.
Paintball gear will fall under your personal property, and not have any special coverage limit like you typically see with firearms, jewelry and electronics.

The 3 likeliest issues I can imagine are:

1. Your policy has ACV- actual cash value coverage. This is the depreciated value based on age. This is bad for collections as there’s no consideration for retained value or current market demand. RCV, or replacement cost value, on the other hand pays for replacement of like kind on quality in current market.

2. Your policy limit is too low to account for your collection AND the rest of your stuff. Say you have 100k in coverage. Someone steals your 20k collection, no problem. But if your house burns down instead and you have 100k of other stuff in addition to your paintball gear? Sucks to be you, should have raised your limit.

3. You don’t have documentation. This is super important when it comes to unique and valuable niche things. Photos, receipts, appraisals, whatever. If you ever do file a claim, I’m sure your adjuster doesn’t play paintball, or care about paintball and a lot of adjusting is subjective. For instance, I can believe that just about everybody has a $500 phone or a $1000 tv. Not gonna scrutinize that. But if you say you had 20 paintball guns worth $1000 each, mmmmm... gonna need some evidence please. Unless you just want a check for 20 JT Splatmasters.

I’m sure there are folks here with stuff that really is unique, rare, valuable enough to merit a rider to schedule each item at a specified value. That’s what a lot of collectors in many interests do to insure things at a market value (or more). But you will definitely pay for what you get.

[cellophane]

Interesting. Thanks for the input 😁

[maggot]

When I went to get a rider for my insurance they required that a B&M paintball store provide appraisals for my markers.
Could you imagine rolling into a shop and asking the 16yo behind the counter to assess value of XX Micromags that were made a decade before he was born? I thought that was the most ridiculous thing, so I stopped there.

[Raleighpaintball.com]

I had a flood in my house and it basically put my gun wall under water. Home owners insurance allowed me to make claims based on original purchase price. Many guns I purchased on ebay, but was able to claim reimbursement for that price paid. I ended up not replacing, just buying more guns with the money.

so yes, by experience, home owners or renters insurance covers this without issues. Just don't claim your stringray II is worth $1000 and you will be fine