insurance on your parts collection

[69gmmuscleluver]

I've shopped around this week and found a good policy for my cars but having difficulty finding something that will cover all my extra parts and tools. My agent said everything I had would be covered under the homeowners policy but when I described what I had he said a regular home owners policy won't cover everything I own. I explained that many of the parts I have were purchased at shows, spare parts with cars I've bought, websites, craigslist, etc so providing an invoice for every single part would be difficult to do. Just curious if any of the members have discussed what all they own with their agent or ever had to use the policy because of theft, fire, etc. Thanks

[WILMASBOYL78]

We all have "too much stuff"...good question for the hobby.

Wilma

***the Indians thought we were all slaves to our possessions...they never owned anything more than would fit on the horse.

My problem is I have too many horses <<GRAEMLIN_URL>>/rolleyes.gif

[volspeed1970]

Check with American National as they might have what you need. Years ago I had accumulated a lot of parts for a restoration of an old Triumph plus a enough extras to build a couple more cars. My home owners policy would only cover parts that were specifically for that car I owned of which I had to prove I owned the car at that time if I had a loss. It would not cover more than one part for the car unless it used two of the particular item. They said I could probably get a policy for &quot;collections&quot;. There were some drawbacks: higher premium, plus it had to be photographed and inventoried, then appraised by an expert. I got rid of my parts collection after the restoration because what I knew I wasn't going to build another plus the hassle of insuring all of it wasn't worth it to me. When I switched to American National I am almost positive the agent told me they cover any spare parts I have for my car plus collections if they were aware of it at the time the home owners policy is written. I just kept my autos with them as home is with Travelers.

JT

[black69]

I do think you bring up a great topic from an insurance perspective if there was a fire, as example. I have been wanting to have a sprinkler system installed in my garage, if my fire detector goes off, and I could turn that on with my iPhone. What good is it, that you can detect a fire, and do nothing timely about it.....

Then add in if you live in the midwest...and there is no easy way to drain the water out of your garage if you use it..when its below zero....

No idea how much a Halon system costs, nor would it even work....., maybe if it is zoned real well....

I look at using my insurance as a last resort, if I can help it.

[Verne_Frantz]

This is a very good topic I'd like to hear more about. Some of us have been collecting for so many years that an inventory would use up the rest of our lives. And what about every time you buy something else or sell something? A new inventory has to be given to the insurer? There must be a better (easier) way.

Verne <<GRAEMLIN_URL>>/dunno.gif

[SeattleCarGuy]

I have a booth at a large automotive swap meet every February that I share with a buddy. I am constantly selling off stuff, yet I still seem to accumulate more. My problem is that I surf Craigslist, see something that looks like a good deal and buy it to put it my garage. But, that's the fun part of the hobby too.

[MosportGreen66]

Dave and I have our memorabilia covered under Hagerty...

[Verne_Frantz]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: MosportGreen66</div><div class="ubbcode-body">Dave and I have our memorabilia covered under Hagerty... </div></div>

Please explain how that was accomplished.

Verne <<GRAEMLIN_URL>>/flag.gif

[Kurt S]

I asked Hagerty to give me coverage on $$ for parts and they did.
A recent American Modern quote had coverage for some parts included.

[SS427]

Our parts and memorabilia room are both covered under a separate policy through MK Insurance. They require a list and photos of the collection but getting it insured was not an issue.