Model railway insurance?

[alan_r]

Do any modellers here have specific insurance for their railway collections?
In particular if any collections exceed the normal household limits?

How much should a reasonable policy charge, say £ per £1k value per year?
What proof/photographs/lists/documentation is required, or is it based on a 'declared value'. Is the value replacement with new or current depreciating second hand value (like a car)?
Any recommended companies or ones to avoid?
Thanks

[b308]

Yes, I have, through Magnet.

My house insurance may well cover it, but I have an awful lot of unusual locos so I wouldn't trust them to pay out correct value if they were stolen so I play safe and have specific insurance.

About £65pa.

They don't ask for any proof but I have photos of it all just in case. I think they do ask about high value items like house insurance but I don't have any.

Many exhibitions don't cover the layout and stock when being transported these days but the specialised insurance does, another reason I use it.

As for companies I've never had to make a claim so can't comment on how good or bad they are. I know mine is via magnet, not sure if there are any others.

[Alex3410]

its an interesting question, obviously home insurance wouldn't cover it outside of the house but has anyone ever had to claim on home insurance for railway items?

Its one of the reasons i moved into the loft from the shed as our insurance has a limit to value of items in the shed

[b308]

Here's a link to Magnet, it will answer most questions i suspect!

http://www.modelrailwayinsurance.co.uk/ ... gJzrfD_BwE

[Byegad]

Yes, after I hit 150 locos I did a rough valuation, which shocked me rigid. So for less than a new loco I covered it with Magnate, who specialise in such things. I have not needed to claim so cannot recommend them, other than they covered amount at reasonable costs, and yes they cover stuff away from home.

[dubdee1000]

I spoke to Magnet about how to be 'safe' with a claim, as it struck me that i could say anything.

Their advice was -

Keep an inventory with receipts if possible.

Photograph your models on your layout with details of your name and address and policy details on a sheet of paper in the background.



I appreciate its rather laborious, but once its done, its done.

[Mountain]

Something I looked into in the past. I didn't buy any, as we seemed to habe a spate of thefts in our locality where thieves knew exactly what people had and where they kept it. It came to my mind that there seemed to be a link with those who didn't habe insurance and those who did, as the ones with were the ones being burgled. It may just be cases of fraud?
In principle it is a good idea as we can spend a fortune in the hobby especially when one may have been collecting for many years.