Recently I had to renew my house contents insurance and I made a point of mentioning my LEGO collection to them as I wanted to ensure that it would be covered should the unthinkable ever happen (I guess all the recent natural disasters has shown us that these things can and do happen). So, my questions is, do you have specialist insurance for your LEGO collection? If so, how did you go about valuing it and how did you insure it?
I used the collection value on Brickset and then added around a third to cover sets that weren't valued in the database or where I know I paid more than the rrp. This is a great start (thanks @Huw)
but it's not perfect. We all know that some of our sets are worth many times the rrp value and some are probably nigh on irreplaceable at any cost.
My insurer recommended that I class it as one listed item and that, as long as I had a list somewhere of all the items and their value then I would be covered. That's where Brickset's collection manager really comes in handy, just export the list out as a .csv file once a month and you've got an offline backup, and of course Brickset will keep an online offsite backup for you :-)
I'm currently working on little project and have enlisted the help of kindly developer to work on some software that will help me to keep track of the 'market' value of my collection in pretty much real-time. I don't want to say too much more at this stage in case it doesn't come off, but it's looking good so far. I'll keep you all posted on how it goes as it may be something that I can offer to other people to use as well.
In the meantime, I'd be interested to hear from others on this topic.