Is Your Collection Insured?

I think a safety deposit box is a great idea for valuable coins. I read an article awhile back about certain banks that use temperature controls in their vaults. Apparently the temperature controls could end up harming your coins. I believe the author suggested finding an older bank that might not have any temperature controls.

The above statement has been brought up numerous times everywhere. I have accoungs in 5 different banks so I figured I will use my customer arogance to find out if any of that temperature/humidityh stuff is realistic. All 5 banks basically said, not in exactly these words, "Are you nuts?" The reason as explained is just who would pay for a separate temperature control system? Who would work in such an invironment and at what costs? No, I think when people say that they are repeating rumors of no realistic nature.
As to insurance for coins. That may depend on a lot of things. For example if in a high crime area, you may want to think twice about insuring anything that requires a listing of what you have. Such listings today go into a computer file and is readable by everyone in that department. In addition, computer hackers have the ability to also get into those files. This is about as smart as telling the post office, police department, neighbors, relatives, UPS and all other delivery services that you are going out of town and have a million dollars in the house so please don't tell anyone. Similarly having coin, gun, knife, stamp, etc magazines delivered to your house where the mail is subject to passerbys.
I attempted at one time to find out if my home owners policy could cover numerous items. My local insurance agent told me to make a list of valuables, photograph them if possible and use a digital camera so all can be inputed into the computer. This would have to be done in his office. He has a secretary, clerk, two assistants all of which would now have access to this info. Then it is forewarded to the main office where, again, numerous individuals have access to that info.
No thanks, it's all my secret.

There are many things I worry about, but the possibility that insurance company employees could use confidential information to commit burglaries is not one of them. Does anyone know what a company like Hugh Wood charges for insurance and what the eligibility requirements are?

Several posts have mentioned firearms. These do you no good if you are not home, which is when most burglaries occur, or if the burglar gets the jump on you.

for the people who arent home much I guess they could get a pack of wolfs that should do the trick or set up bear traps!!

No, but everything of value is in safety deposit boxes, now. I have a advantage of sorts , I own my own business so can go to the bank anytime I choose. Also, the bank is next door to one of our stores.
Jim

Another company that offers insurance is called CollectInsure.

I am currently looking into insurance as my current home owners policy covers only $500

I'm not looking at a $100,000 collection either, but if you really sat down and tallied it up, it would probably surprise you. Include supplies, shipping, etc.

The other thing I think about is - even if it was only worth $200 - a thief is not going to grab your Krause to check the current values, they're just going to grab them and go.

I would imagine the best way to keep them safe from theft is to keep them well hidden. Put them in a cardboard box that they wouldn't want to open even if they did find. Label it "Aunt Edith's Family Tree" or "Vacation Pictures from Des Moines" or "Becky's crayon drawings K - 8th grade"

Mine are under lock and key and insured by S&W like everything else that I collect/own. Ownership records (like Insurance) are too available to the public, ie, Government that I don't even want them to know in case they decide to take them back!