Anyone with NMRA insurance?

[Anonymous]

QUOTE: Originally posted by AggroJones

Thanks to all who responded.

Thank You for posting this and keeping it in our minds. [:)]

It really is something we all should consider. Some of the "things" would be very hard to replace if destroyed but at least you would have some money to replace what could be replaced. With the limited runs that are produced it might be 5 years before a certain model is reproduced, if then. It seems like the Proto 2000 E8/9 units were hard to find (at least for me they were). I have 3, all Frisco. But I had to wait for years before I found the second two.

But as much as the models cost, and the time and effort going into layouts they should be insured. I hope everyone checks into it and takes some action before it is too late to do so.

[AggroJones]

Thanks to all who responded.

[Hudsonmike]

It would be easier for you folks to go to this site and read it;
http://www.nmra.org/model_collection_insurance.html
MIke

[Hudsonmike]

They take your word for it also If you have items valued over one thousand
you have to list them. As I recall the basic blanket coverage was For 6 thousand
at 85 or 95 dollars a year but don't hold me to to that.
What I do is have photos and vidios in a safe deposit box for proff.
It also covers my collection of photos and books.
MIke

[Hudsonmike]

First ; You have to be a member of the NMRA
Just to give you an idear
I have Insured my entire collection for 21 thousand
and I pay $145.00 annualy of that ten dollars goes to the NMRA fee.
So membership to the club is 40 dollars so total of all this is $185.00.
For me to insure with with an outside company it was going to be over $225.00
And that was with the American Collectors Insurance Company.
The NMRA insurance is with the Peerless Insurance Company.
When I checked with My personal home insurance agent it was going to be even higher.
Plus I still get the benefits of the NMRA .Also the broker for the NMRA is J.A. Bash &co.
in PittsBurgh.
Mike

[Anonymous]

Nope, but I have a couple additional questions. Do you need an appraisal or do they just accept what an individual says it's worth? Do they pay 100% of what it is worth or do they use a depreciation factor reducing its original stated value month by month?

[ClinchValleySD40]

Yes, I've got it. You can insure the physical layout for one value and equipment for another value. Just figure out how much it is worth and go for it. I've got the phone number around somewhere if you want to call them for the rates.

[AggroJones]

Does anyboby out there have a collection, layout, trains, or any items insured through the NMRA? Can you give me an idea what you have insured and how much your paying for coverage. This is the perfect place to ask. Please help.