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Welcome to Starting a Poster Collection. Today we're going to talk about insuring your items,
and what to do once you die. You want to insure your collection, because catastrophes do happen,
bad things do happen, and you don't want to have ten thousand dollars, or five thousand
dollars in your collection, and then have catastrophe happen and then you have nothing.
You can contact a myriad of insurance of places, to insure your collection. You'll have to
state values, you'll have to knowledge, you'll have to have records, and you can basically
buy a myriad of insurances but you want to investigate your insurance thoroughly, and
know exactly what your insurance does. Because some insurances will only insure it for what
you bought it for, while other insurances will insure it for what you're perceived value
is. You'll have to pay more, but you'll get your perceived value. Lastly, you want to
look at what's going to happen to your collection, after you die. And this is very, very important
because you will find that even though you may not think that it matters to anyone else,
if it's a passion of yours and you've had it for your entire life, you've instilled
that passion onto your children, or they may associate a certain item with you, so there's
a huge argument over who gets the 1968 Beatles press kit. And so your children will sit and
squabble over this. So you basically need to sit down and decide what's going to happen
with it. I myself on my favorite collectibles, since I don't think within my family deserves
them, want to be buried with them. That may seem a little bit insane, but then I've heard
other people being buried with their Maseratis, so I guess it's okay. So, but you need to
make a choice as to what you want to do with your collection after you die. You may want
to bequeath it to a museum, you may want to give it to an institution. You may, if you're
an Ansel Adams addict, and you have this huge Ansel Adams collection, they may have a charity
which is for Ansel Adams, or a museum for him, and that you want to donate it there.
So there's lots of places and lots of things you can do with your collection, but you need
to decide where it's going to go, and what's going to happen to it, because you don't want
other people quibbling over what happens to it.