Video Game Consoles & Games Inventory Guide for Insurance Claims and Policy Coverage
Video game consoles and games, whether part of a modern collection or vintage setups, are significant investments that hold both monetary and sentimental value. From the latest generation consoles to rare retro games, collectors and gamers alike often amass an impressive range of consoles, games, and accessories.
Properly documenting and insuring your video game collection ensures that you’re protected from financial loss in the event of damage, theft, or loss. This guide will help you create a comprehensive inventory of your video game consoles and games for insurance purposes.
What Are Insurable Video Game Consoles & Games?
Video game collections can include a wide range of items, from rare or limited-edition retro consoles to modern gaming systems with an extensive library of games. Ensuring your consoles, games, and accessories are properly documented and insured protects your collection against unforeseen events like theft, damage, or loss.
As the gaming world evolves, some older consoles and games increase in value, making it even more important to track and insure these items accurately. Check out our article on Collections as well.
Importance of Documenting Video Game Consoles & Games
Gaming consoles and rare or out-of-print games can be expensive to replace, especially as the value of vintage or limited-edition items increases over time. Thorough documentation—such as model numbers, purchase receipts, and photographs—makes filing an insurance Claim easier and helps ensure your collection is properly valued. Loti can definitely help with all of this. For rare or high-value items, an appraisal may be necessary to determine their market worth accurately.
Ensuring Proper Insurance Coverage for Video Game Consoles & Games
Replacement Value Coverage: Ensure that your insurance policy covers your video game consoles and games at replacement value, allowing you to replace your items with equivalent or updated models at current market prices.
Detailed Documentation: Keep a detailed inventory of your consoles, games, accessories, and limited-edition items. Include model names, serial numbers, purchase receipts, and photographs. For rare or high-value games and consoles, consider obtaining appraisals.
Consider Specialized Riders: If you own rare or high-value retro consoles, collectible games, or limited-edition consoles, consider adding a rider to your insurance policy to ensure full coverage for your collection.
Regular Inventory Updates: As you acquire new games, consoles, or accessories, update your inventory to reflect the current value of your collection and ensure your insurance policy reflects any changes.
Comprehensive List of Video Game Consoles & Games by Category
Here’s a categorized guide to help you document your video game consoles, games, and accessories for insurance purposes.
Retro Consoles & Games
Vintage Consoles:
Atari 2600: One of the first popular home video game consoles, often sought by collectors.
Nintendo Entertainment System (NES): Iconic retro console, popular for its extensive library of classic games.
Super Nintendo Entertainment System (SNES): Known for its high-quality 16-bit games like Super Mario World and The Legend of Zelda.
Sega Genesis: Popular 16-bit console, with a strong following for its game library, including Sonic the Hedgehog.
Retro Handheld Consoles:
Game Boy & Game Boy Color: Popular handhelds, with a massive library of games and special editions.
Sega Game Gear: A color handheld system known for its ahead-of-its-time graphics.
Nintendo DS & PlayStation Portable (PSP): Early portable consoles with significant gaming libraries and collectible editions.
Rare & Collectible Games:
First editions & limited runs: Rare games, especially first editions or limited runs, can hold significant value (e.g., EarthBound, Chrono Trigger).
Sealed or mint-condition games: Games that remain sealed in their original packaging are highly valuable to collectors.
Modern Consoles & Games
Current-Generation Consoles:
PlayStation 5 (PS5): Sony’s latest console, known for its high-performance graphics and exclusive titles.
Xbox Series X/S: Microsoft’s current console, popular for its backward compatibility and Game Pass.
Nintendo Switch: A hybrid console that offers both handheld and docked play modes, popular for games like The Legend of Zelda: Breath of the Wild.
Modern Handheld Consoles:
Nintendo Switch Lite: A handheld-only version of the Nintendo Switch, ideal for on-the-go gaming.
Steam Deck: A powerful handheld console designed for PC gaming on the go, offering access to a wide library of games via Steam.
Limited-Edition Consoles:
Collector’s editions: Special releases featuring custom designs and artwork (e.g., Spider-Man PS4, Halo Xbox).
Themed consoles: Consoles branded with special themes, often tied to a specific game or franchise.
Modern Game Libraries:
Physical copies of games: Standard and collector’s editions of games for modern consoles, such as The Last of Us Part II and Halo Infinite.
Digital game libraries: Purchased digital games stored on consoles or external storage, including indie games and AAA titles from platforms like PlayStation Store, Xbox Live, or Nintendo eShop.
Accessories & Peripherals
Controllers:
Official & third-party controllers: Original console controllers, as well as premium or custom controllers from third-party manufacturers (e.g., Scuf, Razer).
Retro game controllers: Vintage or original controllers for older consoles (e.g., NES, Sega Genesis).
Specialty controllers: Controllers designed for specific games, like steering wheels for racing games or arcade sticks for fighting games.
Headsets & Audio Equipment:
Gaming headsets: High-quality headsets with built-in microphones for immersive gaming experiences and multiplayer communication.
Surround Sound systems: Audio systems designed to enhance the gaming experience with 3D sound.
Virtual Reality (VR) Systems:
VR headsets: Headsets like the Oculus Rift, PlayStation VR, or HTC Vive, offering immersive virtual reality gaming experiences.
VR accessories: Additional equipment such as motion controllers, sensors, and tracking systems.
Gaming Storage & Displays:
External hard drives & SSDs: Devices used to store digital games and additional content for modern consoles.
4K gaming monitors & TVs: High-resolution displays designed for optimal gaming performance, often with features like low latency and high refresh rates.
Digital Game Collections
Purchased Digital Games:
Games purchased through digital platforms like PlayStation Store, Xbox Live, Steam, or Nintendo eShop.
DRM-free titles: Games purchased or downloaded that can be stored locally without requiring internet verification.
Subscription Services:
Game Pass, PlayStation Plus, and Nintendo Switch Online: Services offering access to a large library of digital games, often with downloadable or cloud-based options.
Steam Library & GOG Collections: Extensive digital libraries for PC gaming, including DRM-free titles available on platforms like GOG (Good Old Games).
Key Considerations for Video Game Consoles & Games Collection Management
Digital Inventory: Keep a digital inventory of your video game consoles, games, and accessories, including model numbers, titles, editions, and purchase receipts. For rare or valuable items, include photographs and any relevant appraisals.
Proper Storage: Store physical games and consoles in a cool, dry environment to prevent damage from heat, humidity, or dust. Use protective cases for rare games and ensure modern consoles have proper ventilation to avoid overheating.
Regular Inventory Updates: As you acquire new consoles, games, or accessories, update your inventory to reflect the current value of your collection. Make sure your insurance policy reflects any new or upgraded items.
Check for Specialized Insurance Riders: If you own rare, collectible, or high-value gaming systems, consider adding a rider to your insurance policy to ensure full coverage in the event of damage, theft, or loss.
Wrap-Up: Protecting Your Video Game Consoles & Games
Video game consoles and games, whether retro classics or modern systems, represent both financial and sentimental value. By maintaining a detailed and up-to-date inventory of your collection and ensuring that it is properly insured, you can protect yourself from financial loss in the event of damage, theft, or loss.
Proper documentation and insurance coverage will help ensure that your gaming collection can be replaced or restored, allowing you to continue enjoying your favorite games and consoles for years to come.