[Old Crow]

I've always heard that collections are typically NOT covered under a homeowner's or renter's policy and require a separate rider. The reason is the homeowner's policy covers "normal" objects in the household, and I doubt 200 diecast would count as "normal" household objects. Again, this is what I've heard and may/may not be correct.

Not really accurate. There is not usually a requirement that personal property be a "normal" household object; if an agent or adjuster says that ask to be shown where it say that in the insurance policy. However, such descriptions may apply to certain classes of personal property for which the limit of coverage is reduced. Business personal property, for example, is usually subject to a much smaller limit (like $200 or $2,000) and insurance companies will sometimes argue with you about whether the item is for personal use or business use. The same is true for other classes of personal property (jewelry, silverware, art objects, cash, etc.). Just look at your policy or talk to your agent about what classes of personal property have reduced limits and whether there is a reduced limit for collectibles. Other kinds of property are excluded alltogether, like motor vehicles, watercraft, etc., but not typically something like models or collectibles.

[mikeb1958]

Originally Posted by skydriver

I have my collection insured for $2,000,000.00

And if I need to make a claim against my entire collection which might mysteriously disappear ( stolen ), which might be soon since the stock market continues to tank, then I expect all of you to be my "expert" witnesses confirming that my Corgi 1:32 Stinger P-51 is valued at $10,000.00 and my 1:72 B-17 Memphis Belle is valued at $50,000.00, and my other diecast range in value from $2000.00 to $25,000.00 a peice.

And the IXO Wildcat is still worth $1.00......