Pin Question

[nsingleton]

So Kevin asked me to make a list of the values of all my pins for his insurance company since they are valuable, which I never honestly thought of in the past! How should I go about figuring this information out for him? He thinks it would be considered "jewelry" for insurance purposes, I on the other hand think it is "collectibles"? :dunno: With the thefts around the neighborhood, he is all worried about this matter, though I am not really sure the thief would even know they are worth anything to be honest!?! Not sure! :lol: Thank you for any help!

 

[docfish2u]

I thing they would be collectibles.

 

[nsingleton]

Thank you, do you think they need to be reported to the insurance company? I don't really understand insurance??? :lol:

 

[a4matte]

If you have ones that are rare and expensive, then yes, insurance is a good option. Just like when girls get their rings insured, if you care, if it's worth money and if it can be lost it can be insured.

 

[Allie.Pin]

If you have really expensive or important pins it is better to insure them. The pins are collectibles. You could see them as jewelry but with "jewelry" most people, including insurance companies, mean diamonds, watches , gold, etc.

 

[-em]

There was a topic years ago about this (may have been on dizpins for how long it was ago...) and how to classify pins for insurance reasons.

The answer ended up being talk to YOUR insurance agent on how *they* would classify it and how to value it as different people had vastly different answers from their insurance agents on how to 'declare' and value them- It doesnt matter what YOU classify them as- if they disagree you risk not having them covered and they will usually say how to value them vs replacement cost/purchase price etc.

Ive been thinking about taking out a specific insurance policy for my pins but currently just have them under the main coverage since for the most part i dont have very many high value/high replacement cost pins

 

[tiggermickey]

My insurance agent says its a collectible ,but have to insure them for the price you paid not worth now
cause down the road they might lose that value of what you think the value is

 

[Tinkerboy]

There was discussion of this on the doll threads about insuring the dolls, as collectibles. Interesting an idea.

I told DH that if I die, to tell someone to sell the vinyls/dolls/pins because I have some rare and LE ones that are worth some money. Id turn over in my grave if they just gave them away or sold them at a yard sale. LOL.

Maybe I should add them to my will too. haha

 

[nsingleton]

Thank you for the information everyone! :bigthumb: I guess the first place to start is making a list of all the pins I have in my collection! I appreciate all the knowledge!