Self-Storage Unit and Insurance

[hamish_barb]

Hi all

 

I've been collecting trains for a while now and have got a storage unit to keep them in, until I get a bigger place with a separate area for my layout (should be at least 3/5 years till this happens).

 

Till then, I've got a very good deal on a storage unit, however I wanted to ask regarding insurance. Some of the models I have are bought brand new and therefore have a receipt. Quite a few of my models however are bought from eBay which do have a 'eBay receipt' which aren't really official per say, like a high street store, and again, quite a few of my models were bought cash in hand from forums / shows etc.

 

Therefore in regards to the self-storage insurance, would all of my models be covered? Or only those that have a receipt from a high street / online store. What about eBay purchases and cash in hand purchases? 

 

If normal insurance does not cover it, are their suitable alternatives?

 

Thank you

 

 

[nickwood]

Catalogue each item, photograph and price as replacement value, then talk to Magnet Insurance who specialise in Model Railway insurance.

[Ryde-on-time]

Do you have contents insurance for your house/flat.

 

We were not storing model railway equipment but our household insurance covered the contents when we used a storage unit for a period. I think all we had to pay was a small amount to cover an amendment to the policy

 

I would suggest keeping a comprehensive log of what your storing. With the receipts you can keep print outs of ebay purchases. Finally take photos of everything

[Dunsignalling]

The self-store facility I occasionally use includes a basic level of insurance in the rental (£5,000 IIRC) which is obviously not going to be enough for your purposes.

 

I presume they offer greater cover at extra cost or maybe one of the firms advertising model railway insurance might have spotted this opportunity. 

 

John

[hamish_barb]

Catalogue each item, photograph and price as replacement value, then talk to Magnet Insurance who specialise in Model Railway insurance.

 

Thanks, I've contacted magnet who have advised that they do not cover trains stored in self-storage units.

 

Do you have contents insurance for your house/flat.

 

We were not storing model railway equipment but our household insurance covered the contents when we used a storage unit for a period. I think all we had to pay was a small amount to cover an amendment to the policy

 

I would suggest keeping a comprehensive log of what your storing. With the receipts you can keep print outs of ebay purchases. Finally take photos of everything

 

I would rather have a separate policy as I live with flatmates and don't really want to add these trains onto an existing policy, but thank you for the suggestion.

 

The self-store facility I occasionally use includes a basic level of insurance in the rental (£5,000 IIRC) which is obviously not going to be enough for your purposes.

 

I presume they offer greater cover at extra cost or maybe one of the firms advertising model railway insurance might have spotted this opportunity. 

 

John

 

I've contacted my self-storage insurance provider and they are looking into this for me. I'm confident that the models that I bought brand new from onlne stores will be covered as they have receipts/invoices etc, however what about trains that I've bought used/brand new from eBay and from private collectors, for which I do not have receipts or proof of purchases, as they were purchased cash in hand? Do Insurance companies cover those?

[bourneagain]

The problem that I can foresee with your ebay and other purchases is that they can only be valued at what the general market value is, which is not necessary the same as you actually paid for them. I would think that looking up your models in say Ramsey`s Guide to Model Trains may give you a better understanding of your models current value. If you have some kit built and not off the shelf models then you will need to convince your Insurance Company of their true value as individual items and not as one total lot.

[jonhall]

As others have said first job is to photograph it all - if its in fairly 'typical' condition then you might not need to worry about multiple photos of the same item, it might simply be enough to take group photos of each box of trains - I think the primary point is to prove you owned the items, and they aren't a phantom claim.

 

I think it would be reasonable to demonstrate your hire of storage unit from date X and have a load of photo's from the same week that the intent was to document them being put into store (you could I suppose even email them to the insurer to ask the question is this adequate - then you would have proof that they knew? ). If the worst happens then you can always create an inventory from the photo record.

 

I have wondered how all my kits and bits should be documented and was considering a mass pull out of draws and photograph just to do the same - life is too short to write an inventory, but at least if there are photos it can be done retrospectively.

 

Jon

[Nearholmer]

I know little about insurance, but something about humidity.

 

We used ‘yellow box’ to store some stuff during a house move, and when I got my trains back there was surface rust on some steel parts, and one or two glue failures on wood/card. Conclusion was that, in the unheated store, during the winter, water had condensed out of the air trapped inside boxes that had been filled during warm weather in the autumn.

 

Include some packs of desiccant gel.

[locomad]

I know little about insurance, but something about humidity.

We used ‘yellow box’ to store some stuff during a house move, and when I got my trains back there was surface rust on some steel parts, and one or two glue failures on wood/card. Conclusion was that, in the unheated store, during the winter, water had condensed out of the air trapped inside boxes that had been filled during warm weather in the autumn.

Include some packs of desiccant gel.

Very good point it can also happen inside your house, pack away a model from say from your layout when temperature are normal room temperature, and store in a cupboard on an outside wall and water will condense same applies to attics and sheds.

 

I try to allow boxed items to stand for a few days before packing away or store on non outside walled cupboard, under the layout with a curtain instead of a door helps too

[TheSignalEngineer]

I used a self-storage unit some time ago, though not for my trains, the conditions would not have been suitable. As said above there was little or no heating so I didn't want to risk condensation damage. Regarding insurance, there was a basic amount depending on the size of the unit but it only covered general household items, clothing, etc. Additional insurance was offered by the warehouse owners but I would not have wanted to trust the security of a unit with anything of personal or financial value.

[hamish_barb]

Thanks everyone. I have contacted some insurance companies and they have said that for the models that don't have receipts, I should keep pictures and an Inventory of all of my trains (which I luckily already have)

 

However, some have also mentioned that I should get a valuation of my entire stock, does any know of someone/shop/online entity that does this?

 

 

I know little about insurance, but something about humidity.

We used ‘yellow box’ to store some stuff during a house move, and when I got my trains back there was surface rust on some steel parts, and one or two glue failures on wood/card. Conclusion was that, in the unheated store, during the winter, water had condensed out of the air trapped inside boxes that had been filled during warm weather in the autumn.

Include some packs of desiccant gel.

 

Very good point it can also happen inside your house, pack away a model from say from your layout when temperature are normal room temperature, and store in a cupboard on an outside wall and water will condense same applies to attics and sheds.

I try to allow boxed items to stand for a few days before packing away or store on non outside walled cupboard, under the layout with a curtain instead of a door helps too

 

 

Thanks. I'll put some of the small packs of the desiccant/selica gel packets. As I bubblewrap the boxed train, then place the bubble wrapped box into a corrugated cardboard box, then sellotape the cardboard box and put it into storage, should I put a few packs of desiccant gel firstly physically with the train and its box, then also in the corrugated cardboard box that it goes in?

 

Thanks