Insuring Coin Collection - Coin Community Forum

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Author	Replies: 7 / Views: 1,493
Darrell New Member United States 16 Posts	Posted 03/05/2008 10:04 pm I called my insurance rep today to inquire about getting a rider on my Homeowners insurance in order to include my coins. He quoted me a price $13.10 per $1000 value of the collection. In my case it would cost me about $131.00 per year. He said the company wants a listing of coins, what I paid for them and who I bought them from, an appraisal and also information on the safe they are stored in. Is all this worth the hassle of getting coverage? Thanks in advance for your opinions. Darrell Report this Post to the Staff

copperflopper New Member United States 48 Posts	Posted 03/05/2008 10:28 pm I am insured by Harrington & Richardson and I have a rider with Smith & Wesson, but seriously most of us don't insure are coins. If you have multiple of $ thousands it might be worth looking into. Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 03/05/2008 11:28 pm If you are a member of the ANA, one of the benefits is access to low cost group rate collection insurance through Hugh Wood Inc. http://www.hwint.com/usa/hughwood/ana/index.html Edited by biokemist6 03/05/2008 11:29 pm Report this Post to the Staff
Prethen Pillar of the Community United States 3233 Posts	Posted 03/06/2008 1:40 pm Hugh Wood through ANA is awesome. I think it will beat all normal insurance policies/riders hands down. I bet you that your rider, Darrell either isn't insuring you quite like you think or it's a major pain in the rear to document. Not so with Hugh Wood. Hugh Wood has a number of options including very cheaply just having the collection covered in a safe deposit box. Report this Post to the Staff
Prethen Pillar of the Community United States 3233 Posts	Posted 03/06/2008 1:42 pm Also, take a look at this thread: http://www.coincommunity.com/forum/...whichpage=2. Report this Post to the Staff
gatzdon Valued Member United States 280 Posts	Posted 03/06/2008 2:46 pm This is one scenario where security by anonymity has it's advantages. Thieves rarely go after random targets, especially career thieves. They almost always start out with some tidbit of info. In our case, the knowledge of just what you have may be the motivation to "inquire within". Report this Post to the Staff
One Red Cent Valued Member United States 169 Posts	Posted 03/13/2008 12:58 am If I owned my home, I would definately get a safe, and I would consider insurance too. Your insurance cost is 1.3% of the value, which may be reasonable, but a safe could be a much better investment, depending on the value of your collection. Personally, I would get the biggest heaviest safe that I could afford, and I would bolt and/or weld that sucker into place so that it would take a bulldozer to move it! Since I'm a renter, I put most of my valuables in bank safe deposit boxes. I pay about $200 per year for my safe deposit boxes, and my collection is worth roughly 15K. Something like 1.3% if I do the math correctly! Report this Post to the Staff
GO Moderator United States 6563 Posts	Posted 03/13/2008 01:09 am if you have 5000 coins that's worth $1000 then it's not worth the trouble. If you have 5 coins that's worth $1000 then I could go for it. Most insurance companies want it to be in a safe and some actually have stipulations as to the specs of the safe. Havne't heard of someone wanting to know how much and who you bought it from. Would be kinda weird if I told em I bought a coin from a Mr. Bobby Thirteen Thirteen Thirteen Report this Post to the Staff
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