Insuring Coins

You can insure "ANYTHING" for a price. I agree with a large, heavy safe or safe deposit box although their is no way all my coins would fit in one. WOLF

Definately a very heavy safe(so no one can run away with it)... I like gun safes myself, plenty of room for a LOT of coins

A relative had a fire in his house , burned paintings and coins along with many other valuables.

Story short, he had them covered for what he thought was the replacement value ,kept pictures of most items in a safety deposit box.

His CD collection alone was over 500 cd's he valued them at 12$ each you would think that he would make it worth a little over $5000. The insurance company told him once they are bought and used the new replacement value is $3 each and if he argued the value make a list of each c/d and provide receipts and they would provide $6 each for replacement cost . How are you gonna do that when his cd collection dates from the early 90's to current that 20 yrs off receipt collecting

Then to the paintings, he had " to prove someone would by them at full replacement cost "
one painting was values at $8,000 a adjusted looked at it and valued it at $ 1,100
then they tried to devalue you the painting by saying it was worth less each year he owned it
pretty much everything he owned was worth about 20% of what he insured it for.

Then to top it off some stuff was burned that he had no proof he owned and unless they can find evidence it was in the fire its your loss.
You might have a $3000 sofa and after its burned its just a coil of springs a adjusted says used love seat $300 value if your lucky

SO PLEASE TAKE PICS , SAVE ALL RECECORDS OF PURCHASES,SERIAL NUMBER ON THINGS, SAVE INDEP APPRAISELS AND KEEP THEM IN A FILE NOT INSIDE YOUR HOUSE INCASE OF FIRE , KEEP THEM IN A SAFTY DEPOSIT BOX.

YOUR GUESSING/COVERAGE REPLACEMENT VALUE HAS NO MERIT ULESS YOU HAD IT APPRAISED BY A INDEP APPRAISER THAT IS CERTIFIED AND THE INSURACNE COMPANY RECONIZES IT

Video is even better than pictures.
bolt the safe to the floor if possible

Make sure you buy insurance from an agent who can explain in plain language exactly what you're covered for.
We had a fire in our first house and took a huge loss as the contents were insured for only replacement value,we had bought a new fridge and stove on Saturday,the fire was on Monday and we were paid $150 for the value of used appliances,foranything of which we had no record we were paid $0.
Our second house was destroyed by a tornado.We had learned about insurance coverage,and keeping records.We ended up after that disaster with everythig back the way it was.
We no longer insure coins or other collectibles as the cost and paperwork is just too much.
We have an SD box and a 600 lb.safe bolted to the concrete.The used safe was $150,getting it home and installed,priceless.
As to gun lockers,my neighbor had one bolted to the wooden floor and wall.Two thieves,in the middle of the day broke in,used a large wrecking bar,and in ten minutes left with the entire locker containing 3 guns,$30,000 dollars cash,and a bunch of jewelry.

If you go to that link made by boby131313, you would see my ideas of insuring anything of value. In the good old days you would know your insurance agent, he would come to your house, he knew your family and you knew his. That sort of made your possesions a little safer in a way. Today you don't know them, and they don't know you. Everything you tell the insurance people goes into a computer and people see this that may or may not even be working there by night fall. Your personal information is as open to the world as if you published it in a newspaper. Car or home insurance is one thing, but to list all your possesions to strangers is just not smart with todays ability to hack into any companies files.

I recommend a SDB. I pay $110 per year for the biggest one they have. Renters insurance will cover some I believe, not much though. I think I was told $300.