Pinchamp and PinballStar are both correct, let me explain. Pinchamp is very much correct in that most Canadian policies provide replacement cost if it can in fact be replaced new today. Which doesn't help us unless we have a loss with a newer stern in which a replacement product 'may' still be available new in a box. In order to receive any type of replacement cost or appraised value, an older collection needs to be on a scheduled and agreed to amount basis. Similar to anyone with a collector car, if its not insured on an appraised, agreed upon basis, you get actual cash value, which could potentially be next to nothing.

I'm actually going through a process with my 'personal lines' department right now in which they are approaching many of the insurer's we deal with to do that, exactly find out how to best insure a collection on a scheduled basis. I'll report back with their findings when available. With respect to Fantasygoats question (I believe for Pinchamp), a broker in Alberta per say can definitely handle an Ontario policy, if the markets they represent can write in Ontario, however the broker themselves also need to be licensed in that Territory. In our firm, our personal lines brokers are licensed across the country (except in Quebec due to territorial rules). For SilverballO, hope this helps a bit and I'm looking forward to reporting back to everyone when I have some further information on insurer's in Canada who fully understand this risk and are willing to provide the proper coverage, before a loss happens.

I suppose that's a question only each of us can answer individually. Instead think of it this way, if your house was to burn down tomorrow, what would you be anticipating tand comfortable receiving. I firmly believe it best to know how my policy responds before a loss than after. From a premium standpoint and if insured under a floater, the higher the value of the floater, the more the associated premium. So even if I only had one unit, but it was an immaculate restore worth thousands, I may be inclined to start a discussion with my broker/representative.

Scheduling it separately will cost extra. But in the event of a claims situation you have piece of mind knowing the amount and do not have the hassle required trying to determine and then validating an amount, if the insurer is even willing to do that in the first place. There is more than one way to skin a cat and neither is more correct, they are just different approaches, but approaches an individual should be presented with so that they can choose how they want to properly address. Pinchamp can help. I can help. All anyone needs to do is PM us and we'd lend a hand where we can.