• Model railroad insurance

  • Discussion related to everything about model railroading, from layout design and planning, to reviews of related model tools and equipment. Discussion includes O, S, HO, N and Z, as well as narrow gauge topics. Also includes discussion of traditional "toy train" and "collector" topics such as Lionel, American Flyer, Marx, and others. Also includes discussion of outdoor garden railways and live steamers.
Discussion related to everything about model railroading, from layout design and planning, to reviews of related model tools and equipment. Discussion includes O, S, HO, N and Z, as well as narrow gauge topics. Also includes discussion of traditional "toy train" and "collector" topics such as Lionel, American Flyer, Marx, and others. Also includes discussion of outdoor garden railways and live steamers.

Moderators: 3rdrail, Otto Vondrak, stilson4283

  by acelaman
 
Need to know if anyone out there has any idea regarding insurance for their layouts and or collection. I just completed an inventory of my locomotives and rolling stock and, the numbers are kinda scarry. Although my collection is not THAT large, it is still a large investment that until now I did'nt really give much thought to in regards to loss in a fire or flood. Any and all help would be greatly appreciated. Thanks

  by Chuck Walsh
 
Chuck Walsh wrote:Try this link.
http://www.nmra.org/model_collection_insurance.html
Here is one modeler's experience.
Entire collection insured for $21,000.00

Premium $145.00 of which $10.00 goes to NMRA fee.
Plus NMRA membership, $40.00
Total, $185.00 plus all the membership benifits.

Quote from American Collectors Insurance Co., $225.00

Personal home owners coverage, even higher.

  by WANF-11--->Chaser
 
If that is $145 a year and not $145 every 6 months, then that's a good deal.

  by tocfan
 
If you are a homeowner, you may be covered already. My insurance is with State Farm and it is covered under my contents rider.
Two items, make sure you have replacement cost written in and make sure you have enough insurance to cover the model railroad and the rest of your belongings, if not it should only cost you a few dollars per year to raise your coverage value up. According to my agent , my modules and equipment are covered even when I display them at train shows, etc as long as I am not being paid to display them.

Mike Fleming

Bartlett, Tn

  by Chuck Walsh
 
mlrr wrote:Is that what it is?
That's a great question since policies are paid semi-annual.

Yes, that $145.00 is an annual premium.

As a comparison, sure it's prudent to check with your current insurance provider especially if you live in hurricane alley.