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Pinflation VS insurance

Neil McRae said:
io wasn't winding him up actually - I think insurance companies are likely to say - well here is the Thunderbirds pin that is the same thing as your unobtainable BBB. They do it with cars and loads of other insured things.

Neil
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Exactly the issue in most cases of household insurance. Get them itemised on the schedule stating it's an LE (or whatever) or agreed market value and updating them every year would be the safer way. Flip side on reinstatement basis is getting a Godzilla for your flood damaged Bugs Bunny 😄
 
Sorry for the delay

We apply a Pinball Collectors Extension to our homeowners policies, this gives an agreed value for each of the itemised pinball machines, as well as cover away from home, shows/competitions

We are currently discussing extending our coverage to allow an automatic uplift of pinball values during the year with our Insurers, and should have an answer shortly.

Pinballs are usually classified as general contents on insurance policies. The issues arise on the replacement cost, and if they are outside the main building, such as a garages and sheds. Many apply sub limits.

We have recently purchased another brokerage, which gives us access to a greater number of specialist home & commercial insurers, than the limited markets we had previously.
 
Probably doesn't help anyone in this thread, as looks like you are looking to cover a collection (defo would advise naming each pin and model and stating the value to replace though, rather than the insurer just trying to class them as one overall collection; would make things a lot easier if you ever had to make a claim)
Only have the one pin at home, which is just covered under our contents insurance and is a named item, as over a certain value.
Annoyingly, I think most insurers will charge you like £30 or something just to amend anything in the policy if outside of the renewal period.
 
Just a heads up, we have added a few mid/high networth worth insurers for you guys pushing limits of standard policies.
 
Bastard insurance company at home has just jacked our policy up. Absolutely no justification. 🤬. Jumped from £400 to well north of £1000.
Think it’s going to be a rough couple of years in terms of bills.
 
Arv said:
What does this mean in layman's terms Ian?
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Our current suppliers only insured contents up to £250K, and we now have access to products that cater beyond this. The mid and high networth products are normally written on an 'All Risks' basis and contents covered everywhere. Individual items not need to be listed unless greater than £20k, wider extensions generally in the wording. Pay more, get a better policy type approach
 
I just renewed with Ian. It’s a bit like being in a works lottery syndicate. Once you’re in you can never leave! 🤣. I just know my garage would burn to the ground as soon as I cancelled. Think my policy is £500 this year

Edit: and i I’ve to say the communication is fantastic. Paul is excellent at getting back to you by email same day. You’d never get that personal touch service from anyone else
 
IMO the risk for pinball machines being stolen from a household are extremely slim.
House burning down, yeah always a risk but slim.
Crashing a motorcycle or it getting nicked - high.
Speaking with these high value insurers is painful.
You start rattling off all the costs of pins to them etc…. they try and palm it off to other underwriters.
I checked wording very carefully with large well known institutions with no specific limits on contents, no need to itemise anything in home. Unlimited…..
I then called them up (recorded calls) time stamped with a few different worse case scenarios…. which I was more than happy with their responses.
I’m paying nowhere near you guys for premium.
BTW…. unsure how they would deal with outbuildings however.
 
Sako-TRG said:
unsure how they would deal with outbuildings however.
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I think that’s what makes the big difference. Our machines are covered by our normal house insurance because they are in the main house. When we knew we were getting more than 2 machines we went from i think it was £30k cover to unlimited, it was surprisingly only £2 extra a month.
 
Do these higher tailored premiums cover faults like a expensive node board replacement etc…
 
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