Video Game Collection Insurance 101 

When you think of valuable collectibles, the first things that come to mind may be fine art, old coins, and expensive wine collections. However, these days, what people value and enjoy collecting has expanded to encompass whole new fields, including video games. 

For instance, an unopened copy of The Legend of Zelda was sold for $870,000 at an auction, and in 2021, a copy of Super Mario Bros. was sold for a staggering $2 million. Some game consoles are also reported to have high value. Some of the rarest and most valuable consoles include: 

  • Nintendo Wii Supreme ($375,000) 
  • Nintendo PlayStation ($360,000) 
  • Atari Cosmos ($18,853) 
  • Shadow of the Tomb Raider Xbox One X ($8,400) 

In this guide, we’ll give you a basic overview of insuring video game collections through Distinguished. This way, you can offer your clients collectibles insurance policies that will provide the comprehensive coverages and peace of mind they’re looking for. 

How To Insure Video Game Collections 

With video games gaining recognition as valuable assets, more and more collectors will need to secure appropriate insurance coverage for these items. However, providing insurance plans for video games requires a nuanced understanding of their unique characteristics, including their history, rarity, market value, and condition.  

This guidance is something that Distinguished is well-equipped to provide, as we can offer expertise and professional connections inside these emerging insurance niches. This ensures that collectors receive specialized coverage that accurately reflects the value and significance of their collections. 

Getting a quote is easy. Simply register with us and then submit a completed application form, loss history, and a detailed inventory of items the owner wishes to insure. If you have any questions about this process, please feel free to reach out to one of our insurance experts

Is a Collectibles Insurance Policy Necessary for Video Games? 

There are several reasons why seeking out collectibles insurance services is a necessary investment for video game collectors. 

  • Value appreciation: Rare or limited edition video games have the potential to appreciate significantly in value over time, making them valuable assets worthy of protection. 
  • Risk of loss or damage: Video game collections are susceptible to various risks, including theft, fire, breakage, natural disasters, or accidents. Without adequate insurance coverage, collectors risk losing their valuable investments. 
  • Limited coverage: Standard homeowners’ insurance or renters’ insurance policies often provide limited coverage for collectibles, including video games, leaving collectors vulnerable to inadequate protection. 
  • Separate from homeowner’s policy: Should your client need to file a claim, it shouldn’t affect their homeowner insurance premiums. 
  • Specialized coverage: Collectibles insurance policies offer specialized coverage tailored to the unique risks and value of your collection, ensuring comprehensive protection against potential losses. 
  • Protection for investment: A collectibles insurance policy offers financial protection for collectors who have invested significantly in building their collection. These policies will cover the agreed or current market value for the full value of lost or damaged items. 

Unlike some other collectibles, video games are often difficult to repair as there are few specialized repair services for these items, and older systems may require outdated technology to fix. Therefore, it’s imperative for collectors to ensure that they can replace any lost or damaged items with the same video game in the same condition. In cases where the item is irreplaceable, the insurance coverage should offer adequate compensation.  

By obtaining a collectibles insurance policy, video game collectors can mitigate these risks, protect their investments, and enjoy their collections with confidence and peace of mind. 

What Is Covered With Collectibles Insurance? 

Collectibles insurance typically provides coverage for a range of risks and perils that may affect video game collections. 

Policies often include protection against:  

  • Accidental damage: Covers instances where damage occurs to the covered items through mishandling or inadvertent accidents. 
  • Damage incurred during transit: Offers protection to items while being transported to and from covered locations. 
  • Disappearance in transit: Protects collectors in cases where items go missing during shipping or transportation. 
  • Theft: Offers coverage in instances where the covered items are stolen from a covered location.  
  • Natural disasters: Covers damage caused by incidents like floods or fires.  

Partnering with the right insurance provider, such as Distinguished, is crucial for video game collectors seeking comprehensive coverage for their collections. A knowledgeable insurance provider understands the intricacies involved in insuring video game collections, including the challenges associated with repairing or replacing damaged items. 

Why You Should Partner With Distinguished for Video Game Collector Clients 

Partnering with Distinguished for video game collector clients offers numerous advantages that set us apart in the insurance market. These benefits include: 

  • Flexible deductibles and payment options: We understand that every collector’s needs are unique. That’s why Distinguished offers flexible deductible options and payment plans tailored to suit individual preferences and budgets. 
  • Newly acquired items are automatically covered: With Distinguished, newly acquired video game items are automatically covered up to 25% of the policy limit. This feature provides immediate protection for recently acquired additions to the collection, offering further peace of mind to collectors. 
  • Transit coverage: Our policies include transit coverage, ensuring that video game collections are protected while being transported to and from various locations. This coverage extends to safeguarding items during shipping, ensuring comprehensive protection against loss or damage. 
  • Doesn’t impact homeowner’s policy: Opting for collectibles insurance through Distinguished ensures that the coverage for video game collections remains separate from home insurance. This means that any claims made under the collectibles insurance policy shouldn’t impact the homeowner’s insurance premiums or coverage. 
  • Flexible valuation options: Distinguished offers flexible valuation options for video game collections, in some cases allowing collectors to value their collections at the higher of agreed or market value. This ensures that collectors receive adequate compensation in the event of a covered loss, reflecting the true value of their collections. 
  • Expertise in the field: With our expertise in the field of collectibles insurance, brokers can trust Distinguished to provide knowledgeable guidance and support. Our team understands the unique challenges and considerations involved in insuring video game collections, ensuring that brokers and their clients receive specialized assistance tailored to their needs. 
  • Blanket or scheduled policies: Distinguished offers both blanket and scheduled policies for video game collections. Whether collectors prefer a blanket policy covering the entire collection or a scheduled policy listing individual items, Distinguished provides flexible options to accommodate varying preferences and collection sizes. 

Register Today With Distinguished 

If you’re interested in partnering with Distinguished and offering your clients comprehensive video game collection insurance, get started by registering your agency today. Once you’re logged in, fill out the application form and provide us with the necessary details. We’ll get back to you with a bindable quote as soon as possible. 

If you have specific questions about our policies, please feel free to reach out to our support team or explore our Private Collection Insurance program page for more details. 

About Distinguished Programs

Distinguished Programs is a leading national insurance Program Manager providing specialized insurance programs to brokers and agents with specific expertise in Fine Art and Collectibles, Environmental and Construction Professional, Executive Lines, Inland Marine, Real Estate & Builder’s Risk, Community Associations, Hotels, and Restaurants. Property and Liability products are distributed through a national network of agents and brokers. Serving the same core markets and partnering with the most stable and reputable carriers, Distinguished’s high-limit Umbrella programs remain the clear choice in its area of specialty for superior coverage, competitive pricing, and attentive service. Through thoughtful innovation, stemming back to 1995, Distinguished Programs fosters growth and opportunities for its brokers, carriers, and employees.

View a full list of our programs and submit business with Distinguished.

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