|Re: Insurance valuations|
Subject: Re: Insurance valuations
by laurel on 2012/2/21 4:42:33
I havent had collection professionally valued as little point in my mind. I guess most of us will know the value of our books ie the cost to replace (not the amount purchased for) better than any valuer you could find as realistically they are very unlikely to be specialised enough.
In the event of a claim the onus is firmly on you to prove ownership and value. The first can be easily evidenced with photos and documentation. So long as you have these you could then price up up at any time even fer a loss. Or I have a running list of all my books and i update once /twice a year with current values or costs needed to replace.
Even if you had a professional valuation that does not mean an insurance company would automatically pay this figure. For example you might have valued a peoples of middle earth book at £600 to replace following the one sold a few years ago. In reality it would cost £300 max to replace now so this is the figure that would be paid.
Most insurers cover books within standard contents cover but you need to make sure you have enougth total cover and no specific item maximums.
Personally i have increased my basic contents cover to cover my books ,have a mass of photos on a USB stick stored along with list of items which i review once a year or maybe more often if i buy a signed Silmarillion!