Are your cigars insured?

[mb55317]

Hi all,

Given that cigars can be worth quite a lot of money, especially when you build up a collection over time, i wondered if anyone had insured their stash of sticks? Is this even possible given that cigars in perishable goods?

I cant even begin to imagine the feeling of your entire stock being wiped out in a fire or flood and not being able to replace them..

[Paulie]

http://urbanlegends.about.com/library/blcigar.htm

[mb55317]

http://urbanlegends.about.com/library/blcigar.htm

Thanks Paulie, I had seen this article some time ago.. What do retailers do to safeguard their stock- they must have insurance right?

[daverave999]

Might be worthwhile speaking to your contents insurance provider?

[cj121]

Hi all,

Given that cigars can be worth quite a lot of money, especially when you build up a collection over time, i wondered if anyone had insured their stash of sticks? Is this even possible given that cigars in perishable goods?

I cant even begin to imagine the feeling of your entire stock being wiped out in a fire or flood and not being able to replace them..

Not having a 'collection' this is something I haven't personally considered (being a buy and smoke type).

However, it is a good point MB, especially for some of the stock men and collectors around the globe.

[Paulie]

Ok...........

Spoke with my wife who is an Independant Financial Advisor and she advised the following as a good guideline.

If the total value of the collection including humidors is less than ?1500 then it would fall under normal contents insurance.

If over ?1500 then it should be specified in the contents policy along with proof of value, ownership and even receipts. This would also attract a premium specifically for the collection which would be added to the standard contents premium.

Very beneficial to have photographs of the collection including any cutters/lighters etc as proof if needed.

This is also true for wine and whisky.

If your house burned to the ground then the Fire Investigation Officer would have to decide if your stated collection did exist and was burned to ashes in the house before a claim could be made for them.

Turns out my collection and whisky is covered as she sorted it out for me.

Hope this helps.

Incidently, if anybody actually wants to look into this further then I am sure my wife could help you get cover. Feel free to PM me.

[cj121]

Nice post Paulie, very helpful and PM is the way to go, as you advise.

[nicwing]

Great thread, instant professional advice, this is the stuff!!

By the way, you might also like to think about ensuring that your cigars are included in your will.

This comes to mind following a converation with a retailer who stores Cigars for his customers and who had to sort out the issue of ownership when he found out that a customer had died.

Naturally a small (shall we say 20%) of your stash on death willed to me (address and full details on application) in recognition of this invaluable piece of advice would be appreciated eyethangewe!

[cohibaIV]

Joke!!!

MAKING LEGAL HISTORY

A North Carolina man, having bought several expensive cigars, insured them against... get this... fire. After he had smoked them, he then decided that he had a claim against the insurance company and filed. The insurance company refused to pay, citing the obvious reason that the man had consumed the cigar normally. The man sued. The judge stated that since the company had insured the cigars against fire, they were obligated to pay. After the man accepted payment for his claim, the company then had him arrested... for arson.

[daverave999]

CIV, did you read the other posts?

[mb55317]

Thanks for the info guys, i dont have anything worth ?1500 so i'm probably ok for now.. something to bear in mind though.. have a good bank holiday all!

[snooky]

My stock is worth over ?2000 . Got me worried , damn it, better smoke em quick.

[Ramon]

"Are my cigars insured"?

Damn right, with some 12 gauge shotguns,(loaded for bear), a couple of gun dogs and a baseball bat

[HabanoSy]

"Are my cigars insured"?

Damn right, with some 12 gauge shotguns,(loaded for bear), a couple of gun dogs and a baseball bat

LMAO...

Cheers, HabanoSy

[daverave999]

Bringing up an old thread I realise, but how did anyone get on with this?