Insuring Records

[bullit]

So im trying to sort out a few things and when ive spoken to people about insuring records they suggest i insure the records individually for their individual value..

This seems like an impossible task as i have 700+ records, what are your experiences with this type of thing? any suggestions, do you think i can get the insurance company to insure the lot as a whole?

[ton1]

What is the value of your collection ? I guess less than 30000€ with an average of 50€ a piece (which i assume is a high average).

Open a saving account an start saving money instead of giving it to thiefs or buy mutual funds.

The main issue with the eventual loss of your collection won't be the money but the time to gather all those records (if possible). But maybe you think an insurance can pay that compensatory damages... imo that makes no sense (and I'm not saying it with my hard drive full of mp3s I also have 900+ reggae records and an other 1000+ not reggae).

Forget that problem and enjoy your records

[bullit]

Yeah its a tricky one because we have been broken into quite a few times and yes, the time that takes to find them all is the main problem and many are very very hard to get hold of.

however, the money would be a step in being able to re-aquire the records again so i guess it would be better than having nothing after a break in.

Im unsure on the value of the whole unit, i would value it around what you have mentioned.

[wize cracker]

hi,i think ã savings account would be giving it to the biggest thieves ever.

I as well have ã large collection wich I would miss if calamity fell upon it.i think if you have house or apartment insurance it should cover all contents.

[bullit]

I believe it would only cover individually listed vinyl thats the prob, thanks for the big msg leggo, lot to take in there but will get through it once moved.

[ton1]

hi,i think ã savings account would be giving it to the biggest thieves ever.

I as well have ã large collection wich I would miss if calamity fell upon it.i think if you have house or apartment insurance it should cover all contents.

Insurances take your money and give you nothing or gives you the less they can, banks (though far from perfect) keep your money and gives you interests. In that sense, they don't steal you as much as the insurances do, a saving account is free as far as I know .

A house insurance only covers classic stuffs as computers, cameras and valuable material like art but only if pictures are taken and I doubt the insurance would accept to give you thousands of bucks if you say you've been robbed all your collection of reggae records...

[Version Control]

Sadly this subject keeps cropping up around my way and there doesn't seem to be an easy solution.

Generally the insurers want you to list every single item individually, and then 'prove' (how?) the current value of at least 80% of the collection. So if you have 000s of records it's a bit like painting the Forth Bridge - almost impossible to keep up-to-date.

My Bank also said that if insurance for such a large collection is arranged, take a few photos as further evidence of ownership.