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Post by el3625 on Jan 18, 2024 16:37:11 GMT -8
I am looking for some information on how I can get an appraisal on my home layout. My insurance company will cover up to $5,000.00 but they require an appraisal of my HO layout for me to get more for it. I am not looking to get a replacement value on it, just more than $5,000.00. At the price of quality model railroad models in the last 10/15 years, this is an expensive hobby. I am just looking to get more money out of it in case I should lose it all to a fire or any other issue. I have a lot more in it than $5,000.00. It would be like the under the "contents" of my homeowner's policy and not a separate policy where I would use it for every other issue. Anyone have any answers? Any experience or input would be helpful on this matter.
Thank you,
Bruce
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Post by grahamline on Jan 18, 2024 20:06:25 GMT -8
I am looking for some information on how I can get an appraisal on my home layout ... " A knowledgeable hobby shop manager or a dealer who buys estates should have the experience to make a creditable appraisal. Joe Brugger Portland OR |
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Post by jonklein611 on Jan 19, 2024 6:30:44 GMT -8
A starting point could be creating an inventory list. Manufacture, item number, price paid. Throw that all in a spreadsheet. Take photos of everything, including receipts. That might be enough to get a conversation going with your insurance company. It could be handled as an extra personal items "rider" on your home owners insurance. I've done this for camera gear and some jewelry. It's an extra $XXX per year to cover the potential loss of those specific things listed on the rider.
Creating the inventory list would also make appraisal much easier. Like Joe said, a dealer or hobby shop owner could then attest that the values listed are accurate and the inventory is correct. Insurance gets a bit wonky and is state / location specific so your experience and requirements may vary.
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