insuring my trains

[oldkid]

Hi. I'm new to this online stuff and not sure if this is the place to ask but does anybody know of an insurance co. that has an agent that comes to your house and appraises your trains for insurance? I bought most of the collection secondhand and at trains shows in Wheaton, IL. so I know it's not worth much to anybody but me. I would just like it covered in the event of a fire. Any information would be helpful. Thanks

[BigAl 956]

Hi, welcome.

I too visit the WheatonDuPage show a couple times a year however I have been collecting for 50 years so I probably have a few more items than you do.

It's hard to get an appraisal in person for a small collection but there is an on-line tool you can use for gathering an inventory. Start by first taking out a pad of paper and write down everything you own the general condition, and weather or not you have a box and the condition of it.

Next visit www.MItrains.com and open a free on-line account there by clicking login and selecting open an account. Once you have an account with MItrains enter your inventory piece by piece. Thier site links each item to the realistic current collectors value of your trains. Once you have your inventory on-line you can run a value report which will give you a total for your collection. Then you can call you homeowners insurance company and be in position to get a rider for the collection. Remember most homeowners cary high deductibles these days so if your collection is not worth at least that then it's probably not worth it.

If you are a member or join the TCA they have access to insurance you can buy directly. If you join the TCA you can also bribe a member with train running time and a doughnut or two to come visit and look over your trains.

[rtraincollector]

What was recommended above was great but I found most home insurance companies don't want to insure your items other than what the policy says for lost in it. What I use thou which is very reasonable is http://www.collectinsure.com/ and you don't need to belong to the TCA for this either. They advertise in CTT regulary

[Justraincrazy]

I had no problem with my Nationwide homeowner's policy. Called my local agent, who asked me to inventory my collection with current pricing. A simple spreadsheet and some time with the current Greenberg pricing book, and I was able to fully insure a roomful of trains for a very few dollars a year. I sleep better knowing that our toys are protected. My wife is in the process of doing the same thing with her Longaberger basket collection. I can't believe more people don't insure these things - the basic coverage in most homeowner's policies for these expensive collectibles is awful.

[BigAl 956]

I tried the same with my homeowners insurance but I have a high deductible and their price for the added coverage was much higher than the TCA insurance.

[rtraincollector]

that's basically what I was getting a high deductible or an agent that didn't really want to deal with it you can tell by there actions ( like it ain't worth my time) I pay $87 a year for $15,000 so I don't think that is bad basically a little over $7 a month

I'm presently using a spread sheet to re-inventory my trains and trying to do it with some type of order ( post war sets, modern sets then breaking them down to each car in the set and wheat her or not it has set box individual boxes and you have them etc.

[oldkid]

Thanks for all the information about insurance. I see the first thing I need to do is get busy with an inventory list. That's gonna take some time.