Insurance Question

That's a good question and I would like to see what others say. Personally I did an inventory on a spreadsheet. I guess for coins over a certain value that I should take pics as proof or maybe go ahead and put those in a safe deposit box. I'm curious to see what others do though.

Ok since I am a homeowner/commercial property claims adjuster I will tackle this one. Most homeowners policy's grant $200 coverage for coins, bullion, bank notes ect. ect regardless of the type of loss. Obviously this doesn't begin to cover our exposure.

However most homeowner insurance companies offer schedules for coins, jewelry ect. Typically an appraisal has to be completed stating the value of the proposed scheduled property. In the area of coins you will have to check with your agent/company to see what they would require in order to schedule your coins.

Some companies may take your value assessment as long as it is backed up by a standard valuation source such as coin values, pcgs ect. I know it goes without saying but don't use gray sheet prices for insurance purposes. Other companies may require you to get an appraisal done by a coin dealer. You will just have to check.

Finally whether we are talking about coins or your personal property let me say insurance companies love documentation in the event of a loss. I would wholeheartedly recommend you photograph or video tape your coins and your personal property and store a copy in your safety deposit box or at a trusted family member or friends house.