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We got flooded and I claimed for some vinyl - they offered a flat rate per record (£10-15, can’t remember) which I challenged successfully on some of the rare stuff. I was lucky in the end that a quick rinse and new covers were enough to salvage things though.
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When you look into the Discogs higher figure there are many reasons why your entire collection would never fetch that. It's a fun dreamy figure to have in mind but having got into the details over about 10 years of selling I wouldn't expect anything like that even if you were to sell them one by one.
In the past I've had home insurance that required any collections to be declared at the time of insurance. When I've claimed in the past for books I did get a decent amount of money based on research and proof of value, however I was limited to insurance companies that would cover me for a good number of years afterwards.
It's a question I've asked myself a few times but I would certainly not dwell on the Discogs higher value unless you only have up to a few hundred rare records in mint condition. Even the mid figure is optimistic if you have a big mixed collection.
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There's a vinyl junkies thread where you might get more answers.
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You'll need to be insured by someone who is ok with collectibles/art and pays out cash.
Have a word with Hiscox.
But really the only events that threaten it are fire, floods and very severe storms (if the building is damaged).
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Dramatic_Hammer
Airhead
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@J0nathan
Has anyone got their vinyl as a separate item on contents insurance?
I’m wondering whether to discuss it when I renew the policy. I’m also trying to figure out under which circumstances I’d likely claim and what I should expect.
Ideally should some catastrophic incident destroy my vinyl collection, I’d want a payout nearer the ‘high’ valuation on Discogs, factoring all the logistics of trying to buy most of it again.
Would I even bother? As much as it means to me, I’d probably have bigger worries and very little time for it. If it happened, would a broad conversation in relation to contents generally and a link to my Discogs collection secure a few grand to at least replace some?