For the record I do not work for any insurance companies but I have run this by both my agent and my brother who was one of the biggest agents here in town. The only point I was making is *if* you have a decent homeowner's policy and they end up paying out what your machines are worth, the premium you paid to a 3rd party policy is not a good value. Because in that case you paid ~$500 a year and they actually pay you zero in the event of a claim (FYI, this is what's knows as a great business to be in...). But let's just say you don't hire a lawyer and your primary company undervalues your claim. Maybe you have 20 games and in the end you are undervalued an average of $1000 per game. They will cut you a check for $20,000 for your loss, true, but $500 a year for $20,000 in coverage is a crappy deal. My primary policy gets me around half a million in overall coverage for a little more a year than you are paying for probably 20k to 40k in actually coverage (for a huge collection), probably a lot less for a smaller or average collection.
FWIW the last time we did this thread there was a representative here from one of the collector insurance companies. When these questions were posed they either confirmed all of this, or else they quit responding to the thread. Because all of this is a fact of secondary insurance.