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 Replies: 22 / Views: 2,142 |
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Pillar of the Community
United States
3234 Posts |
Use Hugh Wood from ANA. I'm paying about 0.3% of my collection value. |
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Pillar of the Community
United States
1415 Posts |
Zohar444, I still think my last suggestion (Give to me) is the best for all involved. If you miss them, I can send pics.  |
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Pillar of the Community
 United States
1429 Posts |
That is a great quote Prethen. I will look into it. Thank you.
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Bedrock of the Community
United States
20753 Posts |
I'm a little paranoid when it comes to coin insurances or any insurances on valuables. In the old days you knew the insurance agent by name, he was a neighbor or ever a relative. You personal info was on paper and in a safe place. Today you don't know the people selling insurance and they will be different ones almost monthly. Your personal info goes into a computer and everyone in the company knows where to find that and usually can.
If you live in a relatively high crime area or large city insuring your coins is about the same as instructing your postal service, mild services and even the police that your house will be vacant while your on vacation.
Put you coins in a safe deposit box. If it is rather large, rent a few of them. I have 5 of them now.
Always better to be safe than sorry.
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Bedrock of the Community
United States
12437 Posts |
I agree with Prethen, the ANA offers excellent group rate coverage for collections. I doubt you will be able to find a better deal on your own and homeowners insurance is lousy for collections. |
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Valued Member
United States
131 Posts |
I appreciate Zohar starting this thread. I keep my collection in a safe deposit box in a bank. I am at the point where I am going to have to rent a second box. Anyway, my question is whether others who store theirs in a safe deposit box also insure the collection. Thanks.
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Pillar of the Community
United States
3234 Posts |
Homeowners insurance for stuff like coin collections plain sucks. It's very expensive and very onerous. They want a complete list of your collection and it has to be kept up-to-date. Plus, I don't know if they cover things like Registered mail, but Hugh Wood does.
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Bedrock of the Community
United States
20753 Posts |
Quote:
I appreciate Zohar starting this thread. I keep my collection in a safe deposit box in a bank. I am at the point where I am going to have to rent a second box. Anyway, my question is whether others who store theirs in a safe deposit box also insure the collection. Thanks.
As I said previously, I have 5 of them. If figure the cost is well worth the safety. As to insurancing anything of value it depends on where you live. Two people I know had their coins insured and they were robbed. Several people I know had guns insured and they were robbed. Most people I know that have coins, guns, knives, etc and don't have insurance on them never get robbed. Probably nothing to do with it but the less people that know what I have the safer I am. I reall see no advantage is spreading the information around as to any valuables in my home. |
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Moderator
 United States
16679 Posts |
My personal collection is in a safe deposit box. I keep my 7099 at home (probably not a good idea) but I find it a pain in the neck to go to the bank every time I get a new coin. They are Large Cents and the collection is getting larger so I will probably take it to the box. A little inconvenience, big deal.
swcoin.ecrater.com
Edited by vermontensium
09/01/2008 7:50 pm
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Pillar of the Community
United States
1026 Posts |
Well I have a gun safe about 300 pounds empty and it is bolted to the concrete floor so I am hoping it ould not be taken if I ever get broken into. Would hate to lose lose my collection as it is worth quite allot. And also it is non replaceable to me as I have spent years collecting the coins in it. Guess I should have it insured but do not maybe I should check out that ANA but I am insurance to death already. |
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Pillar of the Community
United States
860 Posts |
For someone who has the Wood Hughs Ins. Service with ANA. Am I correct in that the Hugh Wood policies ( like the Silver and Gold) only covers when the coins are at home or at the bank ( gold also covers when in certain mailings), but none seem to cover the coins if you are taking them some place other than the bank or home. Does the gold policy cover them to and from Post office? Does either cover if you take them to a show or club meeting? I like to take special coins to our club meeting, and have wondered what happens if someone with a weapon enters ( public meeting) and demands them. Thanks Jim |
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Rest in Peace
United States
9104 Posts |
Dunno about Hugh Wood, but the old ANA insurance used to cover stuff in transit, like exhibit coins or inventory to and from shows. |
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Pillar of the Community
United States
1231 Posts |
Here is the info from Hugh Woods
VAULT
This policy only insures the collection whilst within a named bank or safe deposit (SDV)
Covers your collection against 'all risk'. This includes fire, theft, natural catastrophes, water damage and accidental damage.
Only requires you to schedule single items that are worth in excess of $10,000 each.
BRONZE
This policy insures the collection whilst at your residence premises (as detailed in the application form) only.
Covers your collection against 'all risk'. This includes fire, theft, natural catastrophes, water damage and accidental damage.
Only requires you to schedule single items that are worth in excess of $10,000 each.
SILVER
This policy insures the collection whilst at your residence premises and/or named bank or safety deposit, plus carrying the collection between these named locations only.
Covers your collection against 'all risk'. This includes fire, theft, natural catastrophes, water damage and accidental damage.
Only requires you to schedule single items that are worth in excess of $10,000 each.
Provides for up to $ 50,000 (or your limit of insurance, if less) in transit between your residence premises and the bank or safety deposit.
GOLD
This policy insures the collection whilst at your residence premises and/or named bank or safety deposit, plus cover anywhere within USA/Canada.
Covers your collection against 'all risk'. This includes fire, theft, natural catastrophes, water damage and accidental damage.
Only requires you to schedule single items that are worth in excess of $10,000 each.
Provides for up to $ 50,000 (or your limit of insurance, if less) for personal transits or mailing by registered or insured USP Services within USA/Canada.
This policy can also offer increased limits for traveling and shows (to a maximum of an additional $ 50,000).
Edited by onejinx
09/01/2008 7:35 pm
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Moderator
United States
16679 Posts |
Quote: Well I have a gun safe about 300 pounds
Some day man, some day!
swcoin.ecrater.com
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Pillar of the Community
United States
860 Posts |
Thanks OneJinx for the info.
Jim
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Replies: 22 / Views: 2,142 |
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First Page
Posted 08/29/2008 11:34 am
