Insurance for bonsai collection

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Insurance for bonsai collection

Post  Todd Ellis on Sat Jul 27, 2013 3:11 am

Hello IBC,
I have been wondering about buying homeowners insurance for my bonsai. Does anyone have any comments or suggestions about how to proceed? How does a person establish value on their bonsai, pots, etc?
Thank you.

Todd Ellis
Member


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Re: Insurance for bonsai collection

Post  John Quinn on Sat Jul 27, 2013 3:16 am

I'll bet your insurance company will not cover them unless you have them in a locked, enclosed yard. You may be able to have a bonsai professional appraise them, or show proof of purchase price for a recent acquisition or pots.

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John Quinn
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Re: Insurance for bonsai collection

Post  Todd Ellis on Sun Jul 28, 2013 12:50 am

Thanks John. I'm sure I'm not the only one who has wondered about this....

Todd Ellis
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Re: Insurance for bonsai collection

Post  Norma on Sun Jul 28, 2013 3:12 pm

Hi Todd,
In 2000, eighteen of my best bonsai were stolen with none recovered. There was a fence around the property but not high enough; I now have the tallest fence allowed in our area plus an Australian heeler cattle dog.

I checked with my homeowners insurance and they wanted a detailed account of the cost of the bonsai. Luckily I had recent photographs of the trees and a bonsai professional in our club verified and submitted value for each bonsai. With this document plus a copy of the police report the insurance company set a top figure of $cash amount per bonsai. So I did get a settlement but was not the true value of the lot.

I probably was lucky to have had few claims on my insurance and an agent who was willing to "push the envelope". Good luck!

Best regards,
Norma

Norma
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Re: Insurance for bonsai collection

Post  Todd Ellis on Sun Jul 28, 2013 3:51 pm

Thank you Norma.

Todd Ellis
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Re: Insurance for bonsai collection

Post  augustine on Mon Jul 29, 2013 7:44 pm

I don't know if they'll write a policy however when insuring something like jewelry a written appraisal is needed.

You should be able to get an appraisal from someone in our community based on a good description and photos. Keep in mind that there is a fee associated with a written appraisal.

Call the gecko.

best,
Augustine

augustine
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Re: Insurance for bonsai collection

Post  Twisted Trees on Mon Jul 29, 2013 9:50 pm

Ask your agent. I asked mine and he said that my trees were covered against theft.

Twisted Trees
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Re: Insurance for bonsai collection

Post  JudyB on Tue Jul 30, 2013 2:25 pm

I'm sure they will add a rider to your policy, and charge you accordingly for the amount insured. They can insure almost anything. I don't know if ordinary coverage will cover storm or other damage. But I'm going to be looking into it soon.

JudyB
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Re: Insurance for bonsai collection

Post  Todd Ellis on Tue Jul 30, 2013 2:48 pm

Thank you all for your replies and information. Very Happy 

Todd Ellis
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Re: Insurance for bonsai collection

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