Protecting Your Diecast Collectibles

I believe not many collectors have the answer to that. Few are able to see their valuables as assets and thus insure them against fire, theft and the like. Having said that, if you treasure your collection and its worth, its mandatory that you call your insurance agent and discuss a plan to cover your collection.

But unless your agent is also a diecast collector, he would not know how much those vehicles are worth. It will be a tragedy that you get paid hundreds for a collection worth thousands. In the first place, you will have to convince him/her that your collection are "assets", therefore worthy of protection. And ask for a rider to your household insurance, which will provide the full cost of restoring your collection to what they were before any unfortunate incidents. If applicable, it is strongly recommended that you ask from insurance companies offering collector's insurance. You will be glad you looked for the right person to solve your worries.

How to Gauge there Worth

Simply visit eBay. Type the model of the diecast collection you want to find out, and soon you will see how for how much money others are buying or selling them. Get a full estimate of your entire collection and talk to your agent. Make sure the policy will pay you back the real amount of money required to replace your entire collection. If the cost of insurance is very high, you might want to consider for a while, although I know the most hardcore ones will just go ahead with it. The values of your "assets" may change, which is why it is important to check the values at a regular basis

--Rod Low
-DiecastTrain.com