ORIGINAL MOVIE POSTERS HIGHLIGHT COLLECTOR’S NEED FOR INSURANCE

Specialist insurance broker Stackhouse Poland has revealed that most collectors are inadequately insured, putting their prized collections at risk from fire, theft or accidental damage.

An amazing 90% base their contents insurance on out of date valuations or estimates, without accurate information or expert advice.Stackhouse Poland’s research revealed that more than 80 per cent of the UK’s mass affluent – the majority of whom are collectors of some kind – are under insured on average by between 30 and 50 per cent.

Keith Hester, director of Stackhouse Poland, said: "As collector’s items increase in value it becomes more and more important that people maintain current and favourable insurance policies. Regularly updating the estimated value of possessions is crucial, especially in markets where a collection’s value increases dramatically over a short space of time.

"Too many people clearly do not know the value of their possessions, and therefore can often find themselves under-insured as the popularity and prices of these items rise."

Movie posters have become a highly collected commodity in today’s market and reach a wide audience of collectors and movie buffs the world over. Liza Tesei is the owner of At The Movies.co.uk , supplying original film posters to collectors and enthusiasts. She is also one of London’s top poster collectors, and counts the original 1964 British advance From Russia With Love poster, featuring Sean Connery as James Bond, as part of her valuable poster collection.

Tesei bought her original Bond poster, which was used at the 1964 Leicester Square premiere, for £2,000 in 1999, and with this year’s 40th anniversary of the first James Bond film, Dr No, her poster has risen in value to upwards of £5,000. The record price achieved for a film poster to date is $453,000 for The Mummy (1932).

Tesei said: "Many movie posters have multiplied in value by up to ten times over the past five years, with poster prices typically depending on film title, rarity, condition and nationality. In order to ensure that collectors’ valuables are protected, it is important to regularly update the covering insurance policy and value estimates. Many collectors could be sitting on a fortune far greater than their insurance policy limit, without even realising it."

Keith Hester said: "By using specialist underwriters, it is possible to provide highly effective cover and service for as little as 0.25% (or £250 for every £100,000 insured) of value for antiques and collectibles, compared to 1% (or £1,000 for every £100,000 insured) of value for general contents. Anyone paying more should seek independent advice."

Hester also comments that cover provided for these specialist items could also include loss of value as a result of restoration after being damaged, including accidental damage. For the serious collector, who may also have larger than average contents values, wide cover can usually be obtained at a reduced premium.

Stackhouse Poland based its figures on analysis of a sample of 200 new clients who have had a personal insurance review in 2002, of the one million people in the UK estimated to have a property valued at £300,000 plus and contents at £75,000 plus.

The value of antiques and collectibles has risen faster than the retail price index in the last five years and since 2000 has soared by nearly 20 per cent, with a seven per cent rise in 2001 alone (Antique Collectors Furniture Index for 2001).

Experts predict that this momentum will continue, fuelled by concerns over stock market volatility in the face of global economic change.For further information on Stackhouse Poland please contact Keith Hester on 01428 725 388 or email keithhester@stackhouse poland.co.uk.