1963maniac Posted May 1 Do you have your Lego collection insured??? I saw this on Youtube this morning and was wondering if anyone has had this kind of thing happen to them? The insurance company thinks Legos are just toys and not an investment or that Lego values cannot go up over time. Do we AFOLs need some special Lego insurance for our collections? Are there ways to protect our investments in Lego? What can we do? Then, I found this: https://youtu.be/No9X4eQhWDI Share this post Link to post Share on other sites
The Reader Posted May 1 Have a look here: https://bricknerd.com/home/how-to-insure-your-lego-collection-11-23-23 Share this post Link to post Share on other sites
Lego Tom Posted May 1 People are far more likely to lose their collection due to fire than theft. Most thieves have no idea of the value of LEGO sets or pieces and will go after more marketable items like electronic items. Regardless, if you are worried about some malady befalling your bricks, you should make sure you have insurance to cover any potential loss you can't afford. Share this post Link to post Share on other sites
Black Falcon Posted May 1 52 minutes ago, Lego Tom said: People are far more likely to lose their collection due to fire than theft. Most thieves have no idea of the value of LEGO sets or pieces and will go after more marketable items like electronic items. Regardless, if you are worried about some malady befalling your bricks, you should make sure you have insurance to cover any potential loss you can't afford. I think in the last years, as Lego became more and more popular especially among adults, the value of Lego and especially older products has become more and more known, not only among AFOLs. So while most thieves surely won´t know which set does have value and which doesn´t, I wouldn´t say they have no idea that it does have value at all, and so might still take it with them. Share this post Link to post Share on other sites
JesseNight Posted May 1 To an insurance, everything is based on its new value and a certain calculated decline of value over the years. The thing with any collector's items is they have to be valued by a licensed appraiser that's accepted by the insurance company. It's a bit of an investment but if the fear of losing a rare or valuable item is real, then it might be worth considering. I don't know if appraisers are familiar with Lego value, some sets seem to raise in value unusually fast. Best advice remains to not go public about owning valuable items. With some people posting everything including their location on social media, tracking people is sometimes really easy for criminals. And even among your real life circles, friends of friends could be criminals without us ever guessing. I have no special insurance on my Lego, nor would I ever consider it. I can imagine someone having a whole room with rare MISB sets might wanna consider it. Share this post Link to post Share on other sites
MAB Posted May 1 7 hours ago, 1963maniac said: Then, I found this: https://youtu.be/No9X4eQhWDI There was a follow up ... Share this post Link to post Share on other sites
Autumn Posted May 2 Yes, by some movers who transported stole our things when moving home when I was 15. Including loads of Lego from the 70s that had been handed down from my older brother up until the 00s. I was already growing out of Lego at that time but that destroyed any lingering appeal. Share this post Link to post Share on other sites
Peppermint_M Posted May 3 I was advised by a guy I know in insurance that a contents insurance should cover it to an extent. I make sure to record my sets on Brickset (just as I put my books on a database). It creates the record needed if the unthinkable were to happen. Share this post Link to post Share on other sites
MAB Posted May 5 Having photos can help too. It is not hard to take and store photographic records these days. Share this post Link to post Share on other sites
