Tiki Central / General Tiki
tiki insurance
Pages: 1 6 replies
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Kailuageoff
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Fri, Sep 10, 2004 3:20 PM
With all of the storms hitting Florida, I'm wondering if anyone knows how to properly insure tiki collectibles. My friend Wayne at the Hawaiian Inn is working with a claims adjuster for damage to the hotel and a question came up about the value of their Witco collection and other tiki decorations in the showroom. |
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dangergirl299
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posted
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Fri, Sep 10, 2004 3:40 PM
I've never dealt directly with insuring specialized collections, but any normal insurance which protects against damage to personal property (e.g., jewelry) should cover it. It's always good to call the insurance agent to make sure such a collection is insured under the current insurance plan, and not excluded in any way. Insurance policies are painful to read and understand for laymen as well as us professionals as well! The trick of course would be, if damage ever occurs, and the insurance company disputes the value of the collection, for the owner to "prove up" the value and the ownership. It's highly recommended to take detailed pictures of each item and have anything in writing (such as in invoice from the original sale, or a print out of similar sales like on e-bay) of what the thing is worth or is currently being sold for. Also, make sure such records are updated annually or whenever something important is bought or sold. Also, confirm whether the insurance would give the owner money to cover its original cost, or its current value at time of destruction which is the replacement cost (which is generally higher than the original cost). |
8T
8FT Tiki
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Fri, Sep 10, 2004 6:06 PM
A few years ago we considered taking out a special policy to cover our collectibles. |
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dangergirl299
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Fri, Sep 10, 2004 6:47 PM
hmmm, Tiki Memorabilia Appraiser? Where would one find such a person?? This would be an excellent opportunity for one of the many TC members looking for better or any work, if everyone involved could figure out how to give this appraiser "cred" in the insurance industry. I have no clue. I'm just the ideas gal. |
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ErichTroudt
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Tue, Sep 14, 2004 2:31 AM
I few years ago my fence blew down and took out 2 stone tikis. When my house insurance guy came out to figure out the $ amount of damage done on the fence, he asked my what happened to my "little statues". I told him when the fence fell, it broke them. He asked me what it was worth approx...he doubled the amount of what I told him and it was no problem. He listed it a "garden art". |
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Kailuageoff
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Wed, Sep 15, 2004 9:16 AM
Mahalo for the thoughts and ideas on insuring things tiki, and Witco in particular. |
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VampiressRN
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Tue, Sep 22, 2015 7:49 PM
This is s topic I have been thinking about for a while. One of these days in the near future, I am going to get pictures of everything in my home. It is important to do that for damage or theft issues I know. Some folks have some pricey collections of what I would consider art (Tikis, Mugs, Lounge Furniture, Tiki Art, etc.). Sounds like some interesting challenges in getting coverage. Any other folks had experience with this? |
Pages: 1 6 replies