Insurance for alternative investments

Can anybody recommend a good insurance broker?
I would like to insure my sports memorabilia collection.
Bit of background if it helps.
Current value I would say in the 2-300k. But plan to grow it quickly over the next few years.
The higher valued items ($5k+) I have recently relocated to a vault/security deposit box managed by a company that specialises in storage of valuables.
The lower valued items are in my house. I plan to upgrade to a larger vault over the next year or so and house everything value $1k+ into the vault.
Am located in Brisbane.
Any leads would be greatly appreciated.

 

Thanks for the quick reply Wylie. Will try to remember to call him first thing next week. Currently busy atm with work

 

A general home insurer will allow a collection to be specially added to a home policy and its not horrenously priced and can be acost effective first step but many do have a cap. Some wont touch certain things too. . IAG do a policy for collections that includes transit etc. And for larger collections most do ask about security as this infleunces price. Mate has a FJ and the insurer required GPS tracking OR bolted / chained to the floor to a minimum spec. He was horrified with the GPS tracking idea. I often add extras as it far cheaper than special policies eg a drone cost $14. iPhones $6, macbook $14 and so on. You will need to have acceptable evidence of the possessions and some basis of valuation that they accept. For memorabilia there can be isssues if cost is different to value and frequency of valuation should be considered. Ensuring who values it is acceptable and recognised. Insurer could dispute a claim

I had this discussion with a client who collected and traded star wars things incl props etc.

 

Thanks Paul. May I ask who your client ended up insuring with? I believe a collector and trader of star wars merch would have the same hurdles as my sports memorabilia.

 

IAG I believe but also a business insurer for the stock items (they can move from one to the other provided he keeps those records evident) . One did business stock and other didnt. He has to maintain separation of the two. Collectables are insured for value but stock is at cost or value whichever is less. If he wanted to insure for replacement it meant a business loss of profits issue as I remember and he could double dip. He just wanted the items covered. He also keeps high quality images for Police etc and a issue with second hand dealer licensing too. It sounded like he ran a small cash converters under state law.

I recall we suggested he maintain all records in the cloud to avoid their destruction in case of fire etc. Items for collection are stored elsewhere. He also looked at the 24/7 storage centre but they were expensive.

 

Awesome. Thanks. Will look into IAG