(Topic ID: 311496)

How to insure pinballs?

By sponjey

2 years ago


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Topic Stats

  • 20 posts
  • 16 Pinsiders participating
  • Latest reply 2 years ago by SNES
  • Topic is favorited by 9 Pinsiders

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    #1 2 years ago

    Hi All,

    I'm now the proud owner of 2 pins (DESW, and IJ), and I just got a little nervous about the what if scenarios of damage or disasters in the house.

    How do you insure your machines or add to existing home insurance? Do I even need to do anything?

    #2 2 years ago

    Do not expect your homeowners insurance to cover your games - you want replacement/market value on them and need someplace that specializes in collectibles - do your research, I pay about $240 a year for $100,000 in coverage.

    Take pictures of your games from every angle, w serial numbers.

    https://collectinsure.com/

    #3 2 years ago

    Same. I update the prices, inventory and value every year. Insurance will try to call it "not normal house contents" and wiggle out of it. Remember all insurance companies are greasy POS.
    Get photos and even better, video and save it in the cloud.

    #4 2 years ago

    YMMV, but AAA insures our 200k in pins as regular household goods with guaranteed replacement value. Take photos from every angle, keep transaction records including serial numbers, etc.

    #5 2 years ago

    What scenarios are you worried about? Theft, document and homeowners should cover most of it, a really rare home event. Flooding, would have to be really bad to get past your legs.
    Total home loss, check your contents multiplier on your homeowners and increase it if you are nervous.

    Not sure 2 pins are anything to really worry about.

    #6 2 years ago
    Quoted from AstonEnthusiast:

    YMMV, but AAA insures our 200k in pins as regular household goods with guaranteed replacement value. Take photos from every angle, keep transaction records including serial numbers, etc.

    Same here. Talked to my AAA agent and all is covered based on like kind recent sales. No additional coverage needed.

    #7 2 years ago
    Quoted from pinzrfun:

    Do not expect your homeowners insurance to cover your games -

    Mine did! Actually paid out a little more than I anticipated. Always best to check as some companies, to your point, don't cover them. I recommend emailing your agent that way you have documentation.

    #8 2 years ago

    I hate to ask but has anyone had to actually claim loss through homeowners and how did it work out? My coverages are far higher than the total contents in my house (including my pin collection) but I still worry.

    Edit: Looks like I have my answer above.....

    #9 2 years ago
    Quoted from insight75:

    I hate to ask but has anyone had to actually claim loss through homeowners and how did it work out? My coverages are far higher than the total contents in my house (including my pin collection) but I still worry.
    Edit: Looks like I have my answer above.....

    I did, No pins at the time. I lost everything in my townhome in 94 earthquake. I had receipts for more than my coverage so they waived the deductible. I don't know if waived was the right word. But $50000 with a 10% deductible and I gave receipts for $60k. They gave me 50k.
    Moral of the story, have receipts and photos.

    #10 2 years ago
    Quoted from Black_Knight:

    What scenarios are you worried about? Theft, document and homeowners should cover most of it, a really rare home event. Flooding, would have to be really bad to get past your legs.
    Total home loss, check your contents multiplier on your homeowners and increase it if you are nervous.
    Not sure 2 pins are anything to really worry about.

    My biggest concern is the unknown, but the closest potential might be a power surge. I have a subpar surge protector plugged into the wall. I can’t seem to find a consistent recommendation for one. I don’t have any open slots on my electrical panel for a whole home surge protector.

    I’m just getting started, so $25k on 2 pins is a lot for me.

    #11 2 years ago

    My homeowners insurance wanted to schedule the pinball machines but required an appraisal to do so. I ended up buying $28k of coverage from Collect Insure. I'll probably re-evaluate in a year, but in the meantime at least I have some coverage for my three machines.

    #12 2 years ago
    Quoted from sponjey:

    My biggest concern is the unknown, but the closest potential might be a power surge. I have a subpar surge protector plugged into the wall. I can’t seem to find a consistent recommendation for one. I don’t have any open slots on my electrical panel for a whole home surge protector.
    I’m just getting started, so $25k on 2 pins is a lot for me.

    So called "surge protectors" are (mainly) nothing more than a power strip with some MOVs inside across the wires. Some have a few more parts in them such as a gas discharge tube but it works the same way as a MOV essentially.

    For my money they are all the same inside as long as they do in fact contain the protection parts. They will not protect your equipment in every single scenario however - that's in the lap of the Gods!

    Your pinball machine already has a MOV across the mains input lead as it is which in most cases will do the job adequately.

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    #13 2 years ago

    Hi All,

    Thanks for your replies!!!

    I’m embarrassed to say that I’ve found an old post with this exact question with thorough responses. Seems like this topic gets revived each year. In my defense, I did a search on the forum and didn’t get the same result as from Google which brought me right back to pinside, lol!

    Anyway, for those of you who come across my thread in months/years to come, this older thread tells all.

    @pinzrfun’s rec was the most popular.

    https://pinside.com/pinball/forum/topic/how-to-insure-pinball-games/page/2

    #14 2 years ago
    Quoted from Black_Knight:

    What scenarios are you worried about? Theft, document and homeowners should cover most of it, a really rare home event. Flooding, would have to be really bad to get past your legs.
    Total home loss, check your contents multiplier on your homeowners and increase it if you are nervous.
    Not sure 2 pins are anything to really worry about.

    My gameroom is in my basement, as are many in the north and midwest - i have water pipes running above $100,000 worth of games - that's my #1 concern.

    #15 2 years ago
    Quoted from pinzrfun:

    Do not expect your homeowners insurance to cover your games - you want replacement/market value on them and need someplace that specializes in collectibles - do your research, I pay about $240 a year for $100,000 in coverage.
    Take pictures of your games from every angle, w serial numbers.
    https://collectinsure.com/

    I've seen this place pop up from time to time. It looks like they will cover you basically at your word on what you have. Have you had to make a claim against them or know anyone that has? I've been interested but still skeptical since I've never heard anyone speak about having them resolve a claim.

    #16 2 years ago
    Quoted from sponjey:

    My biggest concern is the unknown, but the closest potential might be a power surge. I have a subpar surge protector plugged into the wall. I can’t seem to find a consistent recommendation for one. I don’t have any open slots on my electrical panel for a whole home surge protector.
    I’m just getting started, so $25k on 2 pins is a lot for me.

    APC, tripplite, and belkin have an "equipment protection policy" or "connected equipment warranty" included with their surge protectors. Belkin has a $2500 limit, tripplite has a $25k limit. I'm not sure what limit APC has.

    I've never had to file a claim, but I've pretty much used those three brands exclusively for power strips with anything I remotely care about. Not just because of their equipment warranties, but mainly because they are just good quality power strips.

    #17 2 years ago
    Quoted from SNES:

    Talked to my AAA agent and all is covered based on like kind recent sales. No additional coverage needed.

    I'd get that in writing.

    A few years from now who remembers who said what ?

    LTG : )

    #18 2 years ago
    Quoted from grantopia:

    I've seen this place pop up from time to time. It looks like they will cover you basically at your word on what you have. Have you had to make a claim against them or know anyone that has? I've been interested but still skeptical since I've never heard anyone speak about having them resolve a claim.

    That is my question. I got a quote and their details are pretty sparse.

    #19 2 years ago
    Quoted from Black_Knight:

    What scenarios are you worried about? Theft, document and homeowners should cover most of it, a really rare home event. Flooding, would have to be really bad to get past your legs.
    Total home loss, check your contents multiplier on your homeowners and increase it if you are nervous.
    Not sure 2 pins are anything to really worry about.

    I've seen even minor flooding and moisture wreak havoc with corrosion

    #20 2 years ago
    Quoted from LTG:

    I'd get that in writing.
    A few years from now who remembers who said what ?
    LTG : )

    For sure agree with this! I have my info in writing so hopefully if something crazy happens I am all good. Great advice!

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