railway insurance

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rejrob
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Joined: Mon Jun 21, 2010 4:46 pm

railway insurance

Postby rejrob » Thu May 15, 2014 8:18 pm

Hi all,Having accumulated quite a collection of loco.s and all that goes with them,I feel that value wise ,it would be wise to insure the layout and all its bits.The problem I have is ,Who does it and who evalueates the layout.Any help gratefully received All the best Ron

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flying scotsman123
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Location: err, down there round the corner... not that one!!!

Re: railway insurance

Postby flying scotsman123 » Thu May 15, 2014 8:39 pm

Image
Stone station in pre-grouping days, my layout.

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dubdee1000
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Location: cwm brynbuga

Re: railway insurance

Postby dubdee1000 » Thu May 15, 2014 8:44 pm

funnily enough, this is something i've just done. With Magnet, there are standards of cover, from people who collect and have their own layout, to those who model large scale and give public rides. I guess most of us are in the former. I got £14k worth of cover for £68. Nothing needs to be itemised unless it is over £1k in value. I think it would be wise to photograph as much as you can and then dropbox the image as a record for (God forbid), you ever have to prove what you have. How good insurance is is only ever discovered when you come to claim!

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alex3410
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Location: Essex

Re: railway insurance

Postby alex3410 » Fri May 16, 2014 5:49 pm

Something I need to look I to as well, any idea if they cover you stuff if it's in a garden shed?

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dubdee1000
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Re: railway insurance

Postby dubdee1000 » Fri May 16, 2014 5:53 pm

I'll check the T&C Alex. They didn't seem too onerous to me at first glance

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dubdee1000
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Re: railway insurance

Postby dubdee1000 » Fri May 16, 2014 7:10 pm

OK, have checked the policy regards outbuildings :

Outbuildings are covered so long as there is reasonable security. They list this as and fitted locks, padlocks or latches. They also cover garden railways, books, baseboards, accessories.

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alex3410
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Location: Essex

Re: railway insurance

Postby alex3410 » Fri May 16, 2014 7:52 pm

brilliant thank you for checking, its good they cover the baseboards and books as well both of which i am sure normal insurance would overlook

b308
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Location: North Worcs

Re: railway insurance

Postby b308 » Fri May 16, 2014 8:14 pm

Check your Home Insurance as that can often cover your model railway.

More important is keeping an up to date list of your stock preferably with photos to show if you need to make a claim, which is also relevant for those of us who exhibit.

mjb1961
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Joined: Mon Jul 02, 2012 7:22 pm
Location: Telford ,Shropshire

Re: railway insurance

Postby mjb1961 » Fri May 16, 2014 10:45 pm

I would think that most contents insurance would cover your layout etc in a shed as it is usually stipulated within your property boundary,ie your garden ,,,,,,,,should be ok but check with your insurer.

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glencairn
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Re: railway insurance

Postby glencairn » Fri May 16, 2014 10:56 pm

mjb1961 wrote:I ,,,,,,,,should be ok but check with your insurer.


Yes check with your insurer. Make sure THEY know what you want insuring. As already mentioned take photographs of everything and don't forget to update as you buy that item you couldn't resist!

Glencairn
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I Cannot Afford the Luxury of a Negative Thought

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alex3410
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Location: Essex

Re: railway insurance

Postby alex3410 » Sat May 17, 2014 9:23 am

mjb1961 wrote:I would think that most contents insurance would cover your layout etc in a shed as it is usually stipulated within your property boundary,ie your garden ,,,,,,,,should be ok but check with your insurer.


standard insurance covers things outside of the house (ie the garden + shed etc) up to total of £2,000

i have spent last 3 lunch hours on phone getting quotes ready for moving :x takes ages but of the three i have spoken to £2,000 was the standard amount

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dubdee1000
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Location: cwm brynbuga

Re: railway insurance

Postby dubdee1000 » Sat May 17, 2014 9:10 pm

I had an email from my neighbourhood watch about ' smartwater'. You can read about it here:

http://www.humberside.police.uk/crime-reduction/smartwater

The email also had a link for heavily discounted version with free postage under this link:

http://affinity.smartwater.tv/ Type in "owl25" into the promotional code box to get it for £25 with free postage instead of £60


Mine arrived the next day. Looks good for model railway stuff - just a tiny drop somewhere is plenty. It does mention that it might leave a watermark, so i think the underside of the chassis will be fine.

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Tiddles
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Re: railway insurance

Postby Tiddles » Sat May 17, 2014 11:45 pm

dubdee1000 wrote:I had an email from my neighbourhood watch about ' smartwater'. You can read about it here:

http://www.humberside.police.uk/crime-reduction/smartwater

The email also had a link for heavily discounted version with free postage under this link:

http://affinity.smartwater.tv/ Type in "owl25" into the promotional code box to get it for £25 with free postage instead of £60


Mine arrived the next day. Looks good for model railway stuff - just a tiny drop somewhere is plenty. It does mention that it might leave a watermark, so i think the underside of the chassis will be fine.


That is ok of you can recover the stock but chances are it will disappear on eBay or at a car boot.

I think the greatest risk to our models is fire or water damage.
The Baltimore and Ohio Railroad, “Linking 13 Great States With The Nation.”

rejrob
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Joined: Mon Jun 21, 2010 4:46 pm

Re: railway insurance

Postby rejrob » Sun May 18, 2014 8:07 am

Hi all,very informative,thankyou.Our house policy is due soon so I might see about it then.We put our son on our car insurance for 28 days when he comes over from Oz (Due tomorrow)The old insurance was from a company through the old bill association (Quote 90 pounds)Went to L&V and total cost of insurance with extras 2pounds more than last year and sons insurance 10 pounds.I think I know where my house insurance will be moving to shortly and hopefully the layout insurance

rejrob
Posts: 318
Joined: Mon Jun 21, 2010 4:46 pm

Re: railway insurance

Postby rejrob » Mon Oct 12, 2015 11:20 am

Hi all.Having renewed our house insurance again with LV,we mentioned as closer estimate as possible for the layout at 20K.They accepted it without question and included it on the household insurance.Problem solved :D :D Ron


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