Lego Collection Insurance – Insure Your Personal Properties

In this article, we will explain all you need to know about Lego Collection Insurance. There are numerous concerns about specific goods within your home being covered in the event of a fire, burglary, or another disaster. Your personal property coverage contains restrictions for jewels, furs, silver, guns, and cash, as you may know.

Lego Collection Insurance Costs about $1,000- $5,000

Replacement expenses coverage for belongings is frequently included in homeowner’s insurance, but it is normally restricted to $1,000- $5,000. If your assets are “available” to be replaced after a loss, the insurance company will pay you the actual cash value (ACV) until they are replaced, at which point the insurance company will reimburse you the difference. On-premises contents are covered up to the limitations specified in your policy.

If you lose “not replaceable” objects or collections, such as a rare antique or a costly collector’s item Lego set, you will only get ACV unless you schedule the things. Your homeowner’s policy allows you to schedule anything, but most people only do so for the most expensive items. If something is scheduled, it is covered regardless of what happens to it on or off the grounds. Off-premises coverage is critical, especially for jewelry. What’s crucial with antiques or LEGO sets is getting the replacement value without having to replace the item because it’s no longer accessible. Insurance companies demand a description of the item as well as a value in order to schedule it. For example, LEGO sets would fall within the fine arts category.

The amount per hundred of value is $1.75 for $100 in value, whereas furs cost only $0.65

Lego Collection Insurance

Lego Collection Insurance

An amount per hundred of value will be charged by the insurance carrier. For example, jewelry costs roughly $1.75 for $100 in value, whereas furs cost only $0.65. The general guideline is that if you could just go to the store and buy a new one, you shouldn’t schedule it because all things are assigned replacement value on your policy. Only schedule large, irreplaceable objects, such as coin collections and, of course, obvious goods such as a sentimental diamond engagement ring. As you add to a rare collection, your insurance policy’s schedule grows. Because the worth of these objects changes frequently, the insurance provider will want appraisals every five years. Another thing to keep in mind is that scheduling an item covers it for mysterious disappearance as well, so if your jewelry goes missing at a party, you’re covered!

We hope this clarifies one of the more perplexing aspects of insurance coverage. If you have any specific questions about the coverage of personal things in your home, we at family-owned Barth Insurance in Milford, CT, would be pleased to help. You can reach us at 203-878-3181 at any time.

Some LEGO collectors’ pastime of collecting LEGO sets and bricks becomes a little more than a hobby at some point in their lives. With the so-called ‘passion’ of collecting small plastic bricks, the AFOL (Adult Fan of LEGOs) has spent years and thousands of dollars on these ‘toys.’ The last thing anyone wants is for their entire collection to be destroyed by fire, flood, or theft.

LEGO sets and bricks, like coins, stamps, and rare art, can be quite valuable, and if something bad happens to the collection, the LEGO collector must ensure that, while these items may appear irreparable, they do not lose everything they have spent in them. A person can enjoy their collection while sleeping comfortably at night if they have the correct insurance.

If the LEGO collector already has homeowner’s or renter’s insurance, they may feel safe, but most plans cover household goods like televisions, audio equipment, and jewelry, but not plastic bricks, set boxes, or instructions. Even if you have insurance, you should check with your provider about a “collectibles floater,” which is a separate document that allows you to claim that the items mentioned on the floater are worth more than they were originally sold for.

Collection Worth more than $2,000 may require additional coverage that covers collectibles

Your insurance provider may require you to buy additional coverage that covers collectibles if your collection is worth more than $2,000, for example. Check with your service provider to see if they provide this service. Keep in mind that this coverage will most likely be limited to the same coverage as your LCD TV, but what if a flood in your basement destroys that $2000 MISB(Mint in sealed box) 1st edition Star Wars Millennium Falcon (set# 10179) or a fire destroys an entire LEGO collection that took years to acquire? You might need insurance with a little more oomph for that.

Collectibles Insurance Services ( is one such agency that specializes in collection insurance. Collectors can acquire a quotation, fill out a policy application, and get answers to any questions they may have on their website. The LEGO collection, according to their website, will be covered in the event of:

Loss of mail
Fire \sFlooding
Breakage due to natural disasters
The advantage of hiring the services of collectible insurance is the low cost of the premiums. They normally go beyond the standard fire and theft coverage, and they’ll be more aware of the fact that the LEGO collector’s Market Street (set #10190) is fetching $1000+ on auction sites, which may take some convincing at the large box agencies.

Lego Collection Insurance, LEGO collectible market worth over $10,000

Don’t be surprised if the insurance companies don’t believe you when you say your LEGO collection is worth $10,000 Although a specialist agency may be able to provide a better understanding, most insurance firms are unaware of the current state of the LEGO collectible market. Another issue is that LEGO bricks are a relatively new addition to the collectible market, so it’s possible that people are unaware that a MISB Statue of Liberty (set #3450) may fetch the same collectible price as some of the world’s most valuable coins or stamps.

When attempting to insure the LEGO collection for its full value, an appraisal from a professional ‘antique appraiser’ will go a long way. In fact, for specialty coverage like a “collectible floater,” many insurance companies may need an evaluation. Check your local phone book for antique businesses that may provide appraisals, and be skeptical of online appraisal services because a rare collectible, with its widely variable degrees of condition, truly has to be seen in person to assess its true value. Also, once you’ve selected an appraiser, make sure they’re certified by the ISA (International Society of Appraisers) to ensure they’re qualified, well-trained, and knowledgeable about the collection.
Although some insurance companies may need an appraisal from an antique appraiser, others are a little more liberal in their standards. For years, the idea of collecting LEGO sets for investment purposes went unnoticed by the general public, but the appeal of these small plastic bricks has exploded in recent years. Because of their popularity, LEGO bricks have become a feasible investment instrument, necessitating the purchase of insurance for the investor’s collections. Insurers are increasingly insuring LEGO, Barbie Doll, and Matchbox Car collections, recognizing that antique appraisers may have no idea how to value LEGO sets.

In essence, the more lenient insurance companies are attaching an addendum or rider to the homeowner or renter’s policy for a sum equal to the total amount of the collection. Receipts, pictures, and a recorded inventory of all LEGO sets’ current market values are required. Receipts and images are easy to come by, but what should you use for current market values? This is where can help. My Brickfolio is a tool provided by The collector can use the Brickfolio tool to enter their entire LEGO collection and get up-to-date values for individual sets and the full collection. uses market data from eBay, the world’s largest online auction site, which has over 100,000 listings for LEGO products on any given day. The collection can now be insured using this information.

It’s more crucial than ever to keep the LEGO sets kept and maintained once they’ve been evaluated and insured. Keep your LEGO sets away from direct sunlight and in a cool, dry place. Use suitable shelving and avoid stacking boxes because this wears out the shelves and causes the boxes to collapse. Maintaining the LEGO collection will ensure that the sets maintain their collectible value and condition grade.

This may seem like a lot of work for a bunch of plastic bricks and cardboard boxes, but insuring a large LEGO collection gives a LEGO investor peace of mind that their years of hard work and thousands of dollars in investment dollars aren’t wasted

Do you insure your LEGO collection? Worth

about $1,000- $5,000

Earlier this year, I had to renew my home contents insurance, and I made it a point to mention my LEGO collection as a precaution to guarantee that it would be insured in the event of an awful calamity (I guess all the recent natural disasters has shown us that these things can and do happen). In that case, my question is:

Do you have specialized insurance to cover your LEGO collection? Is that correct, and if so, how did you go about determining its worth and insuring it?

I took Brickset’s collection value as a starting point, then added about a third to account for sets that weren’t valued in the database or for which I knew I had spent more than the recommended retail price. This is a fantastic start, but it is far from flawless. We are all aware that some of our sets are worth many times their retail value, and that others are almost certainly irreplaceable at any price.

My insurance advised that I treat it as a single listed item and that, as long as I kept a record of all of the goods and their values somewhere safe, I would be covered. In such a case, the collection manager in Brickset is quite useful, as you only need to export the list as an a.csv file once a month and you’ll have an offline backup, plus of course, Brickset will maintain an online offsite backup for you)

Working on a small project at the moment, I’ve enlisted the assistance of a generous developer to create software that will allow me to keep track of the monetary value of my collection in real-time. However, I don’t want to disclose too much more at this point in case it doesn’t work out, but so far, everything is looking okay. I’ll keep you all informed as to how things progress since it’s possible that I’ll be able to make it available to other people as well. Checkout FAQ


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