INSURING YOUR COLLECTION
Q. If I want to insure my game collection, won’t the insurance company require an independent, third-party evaluation?
A. They might. And the rules change all the time, so you need to find out the most current procedure. Here are some hints:
1. You can get a full appraisal of your collection, each game listed separately, or
2. You can have the collection appraised in box lots, which might read something like, “22 assorted small card games, 1920s-1940s, $250.”
3. You will be required to have the collection appraised by someone considered an expert in the field–which could mean any person who has done appraisals privately or who has written articles which include the values of games.
4. The appraiser would need a list of all your game titles, with manufacturing companies, dates, and conditions; it would be helpful if you put a suggested value for any game whose value you feel you know.
5. It may be possible (depending on the type, size, and condition of your collection) for an appraisal to be done using lists and photographs, without the appraiser actually seeing the collection, but this would depend on your insurance company.
6. The appraiser should be paid a figure (the appraiser must maintain professional status) based on a total sum agreed before hand or on an hourly rate; the appraiser should not be paid based on the value of the collection.
It may be possible to insure some collections as a part of your household insurance, providing a list (and photographs) of games, and avoiding an appraisal until there is a need to file a claim, at which point an independent party needs to appraise the damaged or lost games based on descriptions and photographs. Check with your current homeowners insurance company.
