Insurance for Coins

[bartlesvilleok]

As far as insuring your coins go what company's would you recommend? I have heard of Hugh Wood. Is there any other out there? Has anyone had good or bad experience with any of these insurance companies?

[MarkFeld]

I have used High Wood for the past few years and they are very competitive. Another name, whose services I used years ago and would recommend you check with is Barb Wingo. See here for information

[physics-fan3.14]

I have been using Hugh Wood for about a year now. Their rates seem very affordable. I have never had to deal with the claims side of things, but the fact that they are the recommended insurer of the ANA speaks highly for them.

[Mark T]

Hugh Wood .

Join ANA and you can insure through Hugh Wood.

[World Colonial]

As far as insuring your coins go what company's would you recommend? I have heard of Hugh Wood. Is there any other out there? Has anyone had good or bad experience with any of these insurance companies?

 

I did use Hugh Wood but canceled them and have no insurance at this time. This (of course) poses some risk but I have my collection disbursed among multiple bank safe deposit boxes since all of it will not fit into one anyway.

 

I found their rates conmpetitive but they were cumbersome to deal with. I never knew at any given time who my account rep was because if a change occurred, they never notified me. And I did not like having to do even the simplest things by phone, letter or email because either their responses were slow or they did not bother to respond at all.

 

Unless they have changed, what they need is a website where someone can at least make simple changes to their account such as adding or changing addresses. And if not, they need to improve the quality of their service. I found it poor.

[bartlesvilleok]

Thanks all for the advice

[James_OldeTowne]

I had insurance at one time but found it to be too costly. Now, I am "self-insured", which basically means "uninsured". Which really means I try double very extra hard not to get robbed or to lose coins in the mail.

 

Having three NOISY dogs helps.

[bartlesvilleok]

I was just thinking that safety deposit boxes seem real safe. Has anyone ever heard of someone having there coins or other items stolen from a safety deposit box?

[James_OldeTowne]

An SDB is exceptionally safe. In fact, if I had a sizable collection, I would store my twenty or so most valuable coins there (depending on the size). I know a midwest collector who has a $1,000,000 collection in his SDB, but his box rather large, about the size of a wastebasket.

[Coindude]

Only thing is, it's hard to enjoy your coins in a SDB.

[James_OldeTowne]

Only thing is, it's hard to enjoy your coins in a SDB.

True. My friend that I mentioned in my previous posts keeps a small portion of his collection at home. After he's enjoyed that portion for awhile (often because he's upgrading something or getting something imaged, whatever), he returns it to the SDB and retrieve something else.

 

Incidentally, most of his collection is in albums, so often he simply has one or two albums at the homestead, while the balance remain at the bank. They are individually some really valuable albums!

[ldhair]

I use Hugh Wood as well. To me it's a great deal but have never had to file a claim.

It would be interesting to here from someone that actually had to file a claim. I'm wondering how things went.

[MarkFeld]

I had insurance at one time but found it to be too costly. Now, I am "self-insured", which basically means "uninsured". Which really means I try double very extra hard not to get robbed or to lose coins in the mail.

 

Having three NOISY dogs helps.

James, it is obviously your choice. But coin insurance is relatively inexpensive, and, depending upon your circumstances, it seems as if it might beat least somewhat reckless not to have it.

[World Colonial]

Only thing is, it's hard to enjoy your coins in a SDB.

True. My friend that I mentioned in my previous posts keeps a small portion of his collection at home. After he's enjoyed that portion for awhile (often because he's upgrading something or getting something imaged, whatever), he returns it to the SDB and retrieve something else.

 

Incidentally, most of his collection is in albums, so often he simply has one or two albums at the homestead, while the balance remain at the bank. They are individually some really valuable albums!

 

I would never store more than a nominal value of my collection at home other than for short periods of time. The only exception I would make to this rule would be if I considered the location to be adequately secured. An example of that would be my former roommate's house. He had burgular bars on all his windows and doors and a gun safe.

 

Most locations are, in my opinion, not sufficiently secured. In the apartment complex where I live, its removed from traffic and less likely to be subject to random break-ins than most other places in my city, but I still would not store thousands or tens of thousands of dollars there.