Insurance recommendation

[nwcs]

I'm not pleased with the insurance situation my coins are in and am looking to find alternatives. Who do you recommend?

[gmarguli]

I assume you are talking about protection for coins at your home and not mailing insurance. If so, the cheapest I found was adding a rider to your Homeowners Insurance policy. I don't remember the exact amount, but it was very minimal.

[TomB]

I don't know if you've looked into the ANA-affiliated insurance through Hugh Wood but they offer a rate of about 0.25% of the value for a collection stored within a vault or home safe. For only a little more you can have substantial coverage on anything you carry with you in the US and Canada.

[nwcs]

Right, I mean protection for coins not in transit. I looked at the Hugh Wood site from the ana site but all I saw was junk about accidental death, cancer, and long term disability. Hadn't thought about the rider, though I have heard about them. I thought it would be very expensive.

[wayneherndon]

Most people I've heard check on the rider found it the most expensive way to go.

 

Try this contact info for Hugh Wood:

 

Hugh Wood ANA Insurance

 

WH

[gmarguli]

Most people I've heard check on the rider found it the most expensive way to go.

 

Try this contact info for Hugh Wood:

 

Hugh Wood ANA Insurance

 

WH

 

Last time I checked into it (about 6 months ago) it was under $500 for the HO insurance with a $200K rider for coins. That was for the Los Angeles area and didn't include things like policy fees and commissions.

 

Talk to your insurance broker and ask what the policy limits are. Ask about using some of that amount as "scheduled property" for coins.

[nwcs]

I'm not familiar with the term "scheduled property." To what does it refer?

[gmarguli]

I'm not familiar with the term "scheduled property." To what does it refer?

 

It's basically a generic list of unusual items and/or items not covered by your regular insurance. Frequently items that you can't readily replace and may be hard to put a value on. It's used for collections, antiques, jewelry, sets of fine china, furs, etc.

[K6AZ]

Insurance? Boxes in three different banks. How many cases of coins being heisted out of safe deposit boxes have you heard of?