IDM Mailing Archive

I'm currently looking into insuring the contents of my apartment, which includes a large collection of rare vinyl and CDs. Maybee 2500-3000 items, a lot of them quite valuable. Being the naive soul that I am I thought that I would insure the contents for ?40,000, ?30,000 of which would cover music and music equipment. Obviously $30,000 would not be able to get me back all my Coil special editions or rare Aphex Twin stuff, but it would be a start. Anyway, I've been told that as music items and equipment are all high risk, I would have to insure it for a lot more, without seeing the benefits should anything happen. I was also told that if I tried to claim that amount of money for a bunch of CDs and records, the chances of me getting it would be slim to none. As far as the insurance company would be concerned they might give me ?10 for each record and CD, probably minus depreciation. So I would have to prove that they were worth what I said they were. But how can you prove how much your copy of the MTPITD Trauma Edition was worth, or how much your copy of MASK100 was worth? I know that insurance companies don't just hand over the cash just like that, but I'm beginning to think that I won't be able to insure them at all. I'm sure there are plenty of Coil collectors and electronic music collectors on these lists that have a lot of records in their collections, and a lot of valuable ones at that. Have you got these records insured for their true worth? And how did you go about it? Any helpful information here would be greatly appreciated. --------------------------------------------------------------------- To unsubscribe, e-mail: idm-unsubscribe@hyperreal.org For additional commands, e-mail: idm-help@hyperreal.org

quoted 4 lines I'm sure there are plenty of Coil collectors and electronic music

>I'm sure there are plenty of Coil collectors and electronic music >collectors on these lists that have a lot of records in their collections, >and a lot of valuable ones at that. Have you got these records insured for >their true worth? And how did you go about it?

I looked in to it once. I have a large record collection and thought it a good idea to insure it. I was told I would have to list everything and place a value against each item. There were way too many, it would take forever, so I gave up. This way a while ago but I would expect they would ask for the same thing. ~Paul --------------------------------------------------------------------- To unsubscribe, e-mail: idm-unsubscribe@hyperreal.org For additional commands, e-mail: idm-help@hyperreal.org

Paul Lloyd said:

quoted 9 lines I'm sure there are plenty of Coil collectors and electronic music

> >>I'm sure there are plenty of Coil collectors and electronic music >>collectors on these lists that have a lot of records in their >>collections, and a lot of valuable ones at that. Have you got these >>records insured for their true worth? And how did you go about it? > > I looked in to it once. I have a large record collection and thought it > a good idea to insure it. I was told I would have to list everything > and place a value against each item. There were way too many, it

would

quoted 2 lines take forever, so I gave up. This way a while ago but I would expect

> take forever, so I gave up. This way a while ago but I would expect > they would ask for the same thing.

This is pretty much true for most any kind of specific insurance. My girlfriend an I have renter's insurance because it's cheap, but here's the catch -- to claim we actually have things, we need to document that and submit it to the insurance company. Things like clothes, furniture, kitchen stuff, etc. are generally covered more universally (as in, you don't need to write down that you have 3 t-shirts, 10 pairs of black socks, etc.), but the rarer items like electronics, rare records, etc. need to be documented. For instance, we have our CDs covered under the insurance plan, but we simply said "we have this many CD's, approximate retail value=X" Some of them are rare "idm" CD's (like Bola's "soup"), but I figured if anything happened to them, they're probably the least of my worries (and probably easily findable on soulseek (and since I already bought them, I have a right to keep backups ;D). the electronics, though, I had to write down the serial numbers for and everything. We're thinking also of taking pictures of all of our stuff in case something happens. There's a catch, though. If you just get insurance and give them ballpark figures of what you own, the rates will be relatively low. But so will the coverage. When my girlfriend and I actually submitted our list of electronics equipment, and asked for an increase in electronics coverage (as the standard is $5k of general electronics (cd's, tv's, non-kitchen etc.), they knew we had at least $5k of stuff and upped it a lot more than what would be proportional to simply an increase in overall coverage. In other words, to up our coverage from $20k w/ $5k of electronics to $30k w/ $10k of electronics, the increase was more than simply simple math -- they knew we had more expensive stuff and that if we filed a claim they would be out a lot more money. However, I still feel it's definitely worth it if you value your stuff. If youspeak to an insurance place about collectible stuff, not only will they ask you to write down what everything is, they'll also ask for proof of value. They may accept something like eBay, or they may need things to be professionally appraised. As appraisers are probably not hip to underground music, it might be tough. But as general coverage will still cover records for at least their retail value, it's still worthwhile. Ifyour place caught fire and you lost that rare coil record worth $40, would you rather recoup $10-15 or nothing at all? derek -- eggytoast.com - eggtastic.com ------ catchy signature coming soon --------------------------------------------------------------------- To unsubscribe, e-mail: idm-unsubscribe@hyperreal.org For additional commands, e-mail: idm-help@hyperreal.org

When I suffered a break-in last year and had some CD's stolen, the insurance company replaced them at R100 each (that's less than half the current price of an import). This they tell me, is their standard replacement fee and 'average' cost of your 'average' music consumer's 'average' item. They compute this by averaging out items bought new, imports / local pressings / second hand shop bargains and... euphemistically referring to home-burns as *compilations* :-) Unfortunately theft, armed robberies and 'home invasions' (break-ins with the occupants present, usually forced at gun-point to open safes, and reveal valuable) are soooooo commonplace in South Africa, that insurance premiums are steep. Any items insured under the "all risk" section are even more expensive to insure, and usually a year's cover would replace the item anyway, so it all becomes a bit over the top. I * --------------------------------------------------------------------- To unsubscribe, e-mail: idm-unsubscribe@hyperreal.org For additional commands, e-mail: idm-help@hyperreal.org

At 11:32 AM 19/03/03, blip wrote:

quoted 4 lines I'm sure there are plenty of Coil collectors and electronic music

>I'm sure there are plenty of Coil collectors and electronic music >collectors on these lists that have a lot of records in their collections, >and a lot of valuable ones at that. Have you got these records insured for >their true worth? And how did you go about it?

As you have already been told by insurers, regular home insurance plans will rarely take into account the collectibility of consumer items like CDs and records. To them, the replacement value of a limited-to-23-copies Coil record is the same as a million-selling Michael Jackson record. The only option I could think of that would allow you to insure these items for their so-called "true worth" (which is pretty hard to define, really...) would be to look into some sort of art or collectables insurance, but that would probably cost quite a bit more than standard home insurance. Greg :::::::::::::::::::::::::::::::: Greg Clow ::: greg@stainedproductions.com ::::::::: concert & event promotions ::: http://www.stainedproductions.com :::::: electronic music radio & reviews ::: http://www.feedbackmonitor.com ::: electronic/experimental record label ::: http://www.pieheadrecords.com ::::::::: 158 Close Ave. 2nd Floor ::: Toronto, Ontario M6K 2V5 ::: Canada --------------------------------------------------------------------- To unsubscribe, e-mail: idm-unsubscribe@hyperreal.org For additional commands, e-mail: idm-help@hyperreal.org

quoted 4 lines I'm sure there are plenty of Coil collectors and electronic music

> >I'm sure there are plenty of Coil collectors and electronic music > >collectors on these lists that have a lot of records in their collections, > >and a lot of valuable ones at that. Have you got these records insured for > >their true worth? And how did you go about it?

i actually have 30% of the records i own in my current apartment, and the rest in storage until i have another room for them... and i decided to get renters insurance because it ended up costing so little.. for about 320 dollars a year, i have $55,000 worth of insurance on ONLY my bike, all music/dvds, and audio/video/computer equipment. basically my furniture and clothing isn't covered. it covers anything that might happen to my stuff including fire, theft, flood damage, remote theft (if you went to a club with all your Mask records and every autechre/aphex record and they got stolen, you're still covered) etc.. the only thing NOT covered is earthquakes (earthquake insurance costs an arm and a leg in sf) , which is understandable considering i live in san francisco in a house that was built in 1882. :) -kiya --------------------------------------------------------------------- To unsubscribe, e-mail: idm-unsubscribe@hyperreal.org For additional commands, e-mail: idm-help@hyperreal.org

I bookmarked a number of good music review sites, but now can't find them - I'd be very grateful if anybody could tell me urls for good sites. Many thanks in advance, Colin. --------------------------------------------------------------------- To unsubscribe, e-mail: idm-unsubscribe@hyperreal.org For additional commands, e-mail: idm-help@hyperreal.org

quoted 10 lines I'm sure there are plenty of Coil collectors and electronic music

>>I'm sure there are plenty of Coil collectors and electronic music >>collectors on these lists that have a lot of records in their collections, >>and a lot of valuable ones at that. Have you got these records insured for >>their true worth? And how did you go about it? > >I looked in to it once. I have a large record collection and thought it a >good idea to insure it. I was told I would have to list everything and >place a value against each item. There were way too many, it would take >forever, so I gave up. This way a while ago but I would expect they would >ask for the same thing.

Given the level of collector mentality that has been applied to compact discs and vinyl have achieved, especially in our little corner of the music world, I'm surprised that no one has tried to compile some kind of price guide, a la Overstreet for comic books or Beckett for sports cards. Anyone want to help? i0 _________________________________________________________________ MSN 8 with e-mail virus protection service: 2 months FREE* http://join.msn.com/?page=features/virus --------------------------------------------------------------------- To unsubscribe, e-mail: idm-unsubscribe@hyperreal.org For additional commands, e-mail: idm-help@hyperreal.org

Not sure if this is relevant to the kind of insurance you guys are talking about, but when a CD binder with about 150 CD's was stolen out of my car several years ago, it was covered by homeowner's insurance. The way that value assessment worked with this was that for each CD, I was given something like a flat $5 that was assumed to be its value used or something like that. Then, if and when I repurchased each CD, I had to send in receipts to be reimbursed for the difference between that initial $5 and what I paid for it. -Aaron

quoted 9 lines Given the level of collector mentality that has been applied to

> > Given the level of collector mentality that has been applied to > compact > discs and vinyl have achieved, especially in our little corner of > the music > world, I'm surprised that no one has tried to compile some kind of > price > guide, a la Overstreet for comic books or Beckett for sports cards. >

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quoted 5 lines I don see why this is so difficult...there are dozens of programs that

>I don see why this is so difficult...there are dozens of programs that >catalog items and you can give them whatever value you want...I send my >insurance broker an updated list every six months and he adjusts >accordingly. Sometimes I think I should just jettison the stuff and >collect the $, but that would be fraud.

I think the difficulty arises from determining the "fair" value of the cd's or vinyl. As inflated as it can be sometimes, I would think eBay would be a pretty good standard, especially in terms of out of print items. At the Muslimgauze site there's an average of completed auctions up to August 2001, and these are a decent benchmark of how much you can expect to pay to replace the items if they're lost, damamged or stolen. The page is at : http://www.pretentious.net/mg_prices/ i0 _________________________________________________________________ STOP MORE SPAM with the new MSN 8 and get 2 months FREE* http://join.msn.com/?page=features/junkmail --------------------------------------------------------------------- To unsubscribe, e-mail: idm-unsubscribe@hyperreal.org For additional commands, e-mail: idm-help@hyperreal.org

Another M'gauze fan huh? My insurance Co. has been very good at allowing me to place my own FMV on my collection. Of course, they then adjust my rate. They couldnt care less if I value Tandoori Dog at $ 10 or at $100. They'll pay out whatever it is; the REAL problem is if one can replace the items or take the cash and move to the Caymans. Tom W np: Interkontinental 2 On Thu, 20 Mar 2003 06:02:03 -0500 "iteration zero" <iterationzero@hotmail.com> writes:

quoted 30 lines I don see why this is so difficult...there are dozens of programs

> >I don see why this is so difficult...there are dozens of programs > that > >catalog items and you can give them whatever value you want...I > send my > >insurance broker an updated list every six months and he adjusts > >accordingly. Sometimes I think I should just jettison the stuff and > >collect the $, but that would be fraud. > > I think the difficulty arises from determining the "fair" value of > the cd's > or vinyl. As inflated as it can be sometimes, I would think eBay > would be a > pretty good standard, especially in terms of out of print items. At > the > Muslimgauze site there's an average of completed auctions up to > August 2001, > and these are a decent benchmark of how much you can expect to pay > to > replace the items if they're lost, damamged or stolen. The page is > at : > > http://www.pretentious.net/mg_prices/ > > i0 > > _________________________________________________________________ > STOP MORE SPAM with the new MSN 8 and get 2 months FREE* > http://join.msn.com/?page=features/junkmail > >

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