Originally Posted by NYW&B
Well...Life Like's locomotives have advance to such a degree in the three decades since your model was new that in reality it probably has little, or no real value left in it. However, since the newer versions of LL's BL-2 are still available one can reasonably qualify a replacement value for the model. Although purchase prices on the auction sites vary widely, one might say that the typical selling price there for this locomotive is in the area of $40-$50. This you might be able to claim as the replacement value of yours for insurance purposes.
This makes an important point.... make sure the fine print says replacement value
and not actual cash value
. In insurance speak they mean 2 completely different things. ACV deducts for age, wear and tear, and general depreciation. Usually collections of any type are not covered by your homeowners policy and must have a separate rider added or a completely separate policy.