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Old 17th Mar 2020, 10:43 pm   #10
Granitehill
Tetrode
 
Join Date: Mar 2019
Location: York, North Yorkshire, UK.
Posts: 95
Default Re: How do you insure your collection?

I was once told by an insurance actuary that I shouldn't bother insuring anything if I could afford to bear the loss. (He was speaking for himself and the advice was very much off the record !)

The reasoning was that a direct loss to yourself will always be less than the average price charged by an insurer who will factor in all his costs and profit margin against the the probability of having to pay out.

(This doesn't apply where there is the possibility that you may have to pay an unaffordably high claim by another against you. Typically - a third party motor insurance claim)
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