I'm sorry if this may be an old topic but I couldn't find much when i searched. What are the thoughts on insurance for collections as in is it just added to your homeowners policy? Or is there more specific type of insurance for collectibles? I have a fireproof safe but I'm beginning to accumulate more than will fit into the safe and would prefer not to place in a safe-deposit box as I do enjoy looking at them. What do some of you do?
I have a policy through Collectibles Insurance LLP -- see their ads on the PCGS site. They have been easy to deal with though you never know how good an insurance co. is until you need to file a claim. I haven't, thank goodness. I keep my collection in a safety deposit box and keep images of my coins on my computer. Insurance covers the coins when I have some at home to ship for grading and while they are shipped. Good luck.
You might also consider coin insurance with Hugh Wood Inc. through the ANA - see here: http://www.hwint.com/usa/hughwood/ana/collectors.html
The correct name for a homeowners insurance rider covering your collection is an "Inland Marine Rider". The cost and restrictions vary widely among insurers, so talk to your insurance agent about the details and then compare what he/she tells you with the information you get from specialized insurers. Usually the specialty insurers provide better value, but not always.
I have a policy with them and found them easy to deal with. I can't tell you how good they will be if you have to file a claim, which is what you really want to know. Let's hope neither of us ever have to find out. I store my collection in a safety deposit box but occasionally take some of the coins out for grading or whatever and didn't want to have to worry about loss. I have also heard good things about the policy through the ANA.
