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Originally Posted by margecam52
(Post 7030541)
my insurance is set up so that I have a blanket amount to cover everything...nothing to count. Now, if someone were to come in and just take my stash of fabric...I'd say 2 grand...since I've taken some to my shop. I don't think insurance will value at a high price (without the receipts), so, I used $10 a yard.
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Replacement value of my machines alone would be about $20,000 (new Dream Machine, Babylock Evolution, Pfaff Passport, and a new Singer S16). I guess I should think about a rider for those, along with my photographic gear. My stash, however, is not very large (yet).
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At $11.00, I would guess 1,000 - 2,000.
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You'd want replacement cost, so multiply each yard by $10. You can measure a stack or a stack in a tote, estimate the value of that, then measure the rest in terms of the size of the stack or tote that you estimated from, and just multiply. Lets say that one tote contains 35 fabrics. I know my fabrics are usually (or average) 1 yard, so that tote is $350. I have 10 more totes, plus stacks of fabric equal to 4 additional totes, so that's 15 x $350 = $5250, if I calculated correctly. Do the same type of thing for thread, embelishments, ....
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Even if you don't include your stash you should have your machine listed on your policy , I have four Bernina's have all of them and serial numbers listed , my insurance couldn't believe someone could have four as a hobby .....$22000 worth now the stash would have to be $75,000 , and I love every cone of thread and metre of fabric but as I have worked for the past 53 years in retail and still do I don't feel guilty at all . Cathy
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That could easily be true of my stash, at least in terms of replacement $ value.
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I would have to say close to the $10K range including yarn, machines, tables, chairs. Its hard to make that kind of decision
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Originally Posted by JenniePenny
(Post 7029313)
There was a recent article that delved into the economics and demographics of today's quilters. Sorry I don't have the link to that article handy. If I remember correctly, it stated that the average quilter's stash was valued at between $5k and $8k for insurance purposes.
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Definitely something to look into. I have several patterns with all the fabric and that really adds up. Will check my insurance tomorrow!
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I fibure thousnds by now inclding thread , patterns ,etc, Its crazy I know, but I keep thiking buying stuff, kits,etc wil motivate me, if I could get some of my monneys's worth out of it I would gladely do so
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