Coin Insurance

[MikeKing]

Can anyone reccommend an insurance company that provides coin insurance?

 

I'm using the one reccommended by the ANA, but am having some problems with them (Marsh Group)

[gmarguli]

The ones I have seen have been too expensive. See if you can get a rider on your homeowners policy.

 

Several people have mentioned Collectibles Insurance Service, but there web site quote feature was been "temporarily out of service" for the last few years.

 

The easiest thing to do is to keep your expensive coins in a bank vault. The odds of them getting stolen or damaged is VERY small.

[jtryka]

I have checked with a number of insurance companies, and to get a homeowners rider is anywhere from 2X to 4X the ANA rate, especially since they don't give a discount for having them in a safe deposit box. When I checked about a year and a half ago, it was anywhere from $1.35 to $2.20 per $100 of coverage. If I insured my collection, I would go with the ANA option. What problems are you having with Marsh if I can ask?

[MikeKing]

Thanks for the info.

The problem I'm having is waiting a month for insurance on a coin I added to my collection. Multiple phone calls and still no information. No real good contact person. One phone call should have done it.

[MikeKing]

I know Chubb does stamps. I will look into that.

 

[TomB]

It would be interesting to know what problems you are having, is it about a claim?

 

The ANA group insurance rate is $1.00 per $100.00 coverage for a collection that is kept at home or only partially in a safe deposit box. A collection that is kept in its entirety in a safe deposit box has a rate of 50 cents per $100.00 value.

[TomB]

I have never had a problem with them adding value to my collection. In the past I have simply sent them a letter with the new value to be insured and also called them up to let them know about it. Things have worked out smoothly. One thing I will add, however, is that not everyone there seems to be well versed in how to handle policies. I have gotten three different answers from three different people regarding the same question asked on three successive days. In cases like that I just use common sense.

[MikeKing]

I'm not waiting for a claim, I'm waiting to get official approval of insurance for this coin. Talking to them has been useless so far.

[MikeKing]

Situation may be resolved, at least partly.

After waiting for a MONTH (after having verified they recieved my fax stating the value of the coin I wanted to add to my insurance), and un-answered emails of complaint, I got in touch with someone by phone who could find NO record of this request which I had been previously told was in the hands of the underwriter. Wow! Do you believe this? So I refaxed the info, they said they'd call me back when they got it. I didn't hear anything so I called them back only to be told that they tried calling me back, but that there was no answer (I have a machine), and that the coin is insured, as of today.

 

I'll believe it when I get the bill.

 

I think I'll look into another insurer.