This. By far a better strategy is to be a buyer. If there are a few WTB ads out there...the thief will find them. Make sure you cover Los Angeles, Miami, Seattle, Chi town, NYC in addition to your regional metro areas.

Well if you lay down for the insurance company and have a crap agent and no lawyer. But as an agent, my clients do better. If a client buys replacement cost on their contents, that's what they are getting. An item must be specifically excluded or it's covered. Done deal. I have seen several high dollar collectibles replaced after total losses.

You can google this if you like, insurance companies pay replacement cost for pins if you have replacement cost coverage on contents. 20k is fine. Could there be crappy little no name insurance companies that try to dodge this bullet? Certainly. Can you buy coverage that is NOT replacement cost? Sure. Many do. Could you have over a 20k deductible? Again, yes. State Farm is pushing the % deductible concept in many areas now and a 3-5% deductible on a million dollar home can add up rapidly.

Put it this way, if my BBB is stolen, I get a new one or a check for replacement cost AND a smile and a handshake and many "so sorry this happened to you" from the company. It's replacement cost on contents in my policy and pins are not scheduled. So they are covered.

Note-disputing the validity of the claim is another mater entirely.

BTW - insurance companies are really vulnerable right now due to several factors. It's so bad you might get pain and suffering for a theft! That's either great attorneys or crappy companies causing that.

I have been an insurance agent since 1987 (my first summer job, I am not THAT old ) and went to Law School at the University of Tulsa. Replacement cost means what it says. I hate to say this - because I was around when it did not work this way - but sometimes clients have to retain attorneys to get their basic policy enforced to the letter. I had a total fire loss in 1986 and have handled several since. Things have changed even in the last 10 years. My advice is be nice until you get tired of dealing with it. When that happens, get a lawyer. If you bought replacement value for contents...they should be on the hook. Unless you cave. Lots of people cave and some adjusters are paid now to get you to do just that - give up your basic policy rights, settle.

It is a different world. Pay the lawyers or pay the insurance company - I choose lawyers. Plus with a good attorney you can kiss the situation goodbye. He/She will handle it and you can forget about it. That's worth a lot. (no pansy ass "I'm scared of the insurance companies" attorneys need apply)

Without giving any advice in this situation, if I felt even the slightest pushback on the value of any of my collectibles - straight to the law firm. In reality what usually will happen is in the settlement for the entire claim they come with an offer for everything. It's usually a take it or leave it proposition and in my experience they are generous/willing to avoid a fight/want to get done with it enough that in a big loss it's easy to fold something in.

This situation is terrible. "Get a rope!" would feel a lot better. My eyes will be peeled for BBB 153 or any other shady BBB.

If this machine is recovered intact - bonus value imho. New plaque needed.

Yeah a lot of people make the mistake of viewing the Insurance Company as a person, someone who could be nice and that you don't want to badmouth, etc. Insurance Companies are in it to win it and have no sympathy for anyone as they are not people. Agents can be good or bad, usually good if you deal with long-term good standing people. But Companies strictly do not want to pay out ever. It's their business to collect, not pay out.

Oh if an agent says "It's covered." IT IS. Even if the insurance company denies the claim, his statement about coverage is DEFINITELY enough to get him on the hook through his agency Errors and Omissions policy. My agents never say those dreaded words, "it's covered" because once they say it, it is covered, even if out of their own pocket! Totally hypothetical and does not apply here in any way.