Insuring a collection

[dramboyo]

I'm hoping for some advice on a few things.

Although I have normal contents cover for my home possessions, is it better for me to have a seperate policy for my collection?

Also, I'm having problems trying to find accurate prices for insurance purposes, as I bought them a good few years ago. What is the best way to have the items valued?

All responses are greatly appreciated.

[JohnM]

I'd talk to the insurer about naming the whiskey on your insurance. I was told a few different things from insurers. You can have up to a certain value, a percent of the total value of the house, insured automatically.

Post what you have here and we might be able to give you an idea of value. I am not sure if this would satisfy an insurance company, but if you have a list of what you have, it can be valued at any time.

[dramboyo]

Hi John.
My collection consists of...

2 X Old Comber 30-Year-Old PPS
2 X Bushmills Special Single Barrel Millennium (Wooden boxes)
2 X Bushmills 1608 400th Anniversary
1996 Midleton VR
1998 Midleton VR

Thanks.

[varizoltan]

do not worry about insurance for 8 bottles,
if you reach the 700 mark then you can worry

Hi John.
My collection consists of...

2 X Old Comber 30-Year-Old PPS
2 X Bushmills Special Single Barrel Millennium (Wooden boxes)
2 X Bushmills 1608 400th Anniversary
1996 Midleton VR
1998 Midleton VR

Thanks.

[TheWhiskeyBro]

I think a photo(s) of your bottles is the most important thing to show, receipts are always useful if you keep them. Values are subjective, but the insurance value is usually the highest valuation obtained (within reason).

[DavidH]

My position on insurance, in general, is that you should only have it if:

• it's mandatory (eg car insurance)
• potential expense is very high (eg house is destroyed)
• potential expense is uncapped (eg medical bills)

Otherwise "insure" it with yourself. If a small item is lost either replace it out of your own pocket or don't replace it at all. If it's never lost you are up the amount you would have given to an insurance company. You can buy another bottle with that money, or another lock on the door/a fire extinguisher/etc.

[varizoltan]

around 2000-2200 euro, i would say, but as i said before, and agree with David too, not too worry for insurance

[dramboyo]

Thanks very much to everyone for your input.
Definitely some food for thought.
Cheers.

[IrishWhiskeyChaser]

Yes you probably do not have enough whiskey of value to dictate a seperate mention on your insurance.

I have my collection indicated as a specific item on my house insurance.

And if you need a propper valuation for insurance purposes I would imagine that Ally of the Celtic WHisky SHop would be an acceptable source.

However for insurance purposes the value of you bottles will be significantly higher

Ball park insurance prices

Old Comber x2 = €600 x 2
Bushmills Special Single Barrel x2 = €250 x2
Bushmills 1608 400th Anniversary x2 = €60 x2
Midleton VR 1996 = €400
Midleton VR 1996 = €400

Total = €2600

Unfortunately You could divide some of these prices by 1.5 to 2 to get open market prices like ebay etc.