Anybody insure their collection

as well as the inventory list! Or better yet, keep the list and scans of stuff online. That's another way the policies may differ. Some may require receipts, an inventory list may be enough for others

 

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As far as an inventory goes, I maintain an Excel spreadsheet that lists every coin I own in a major category that then rolls up to a summary page. Anytime I buy a coin, I update the inventory sheet (type, year mint, primary composition (if silver or gold), price paid, shipping, etc). Takes me less than 5 minutes even if it's a new type entry. Using the summary sheet I can tell at a glance the number of coins, melt value, what's due in (I create an entry as soon as I buy online so I can track delivery), etc.

Anyone who might like a copy, PM me with your email address. If you want some customization, I could probably help with that as well. It's not perfect but it works for me.

 

Tin cans, shovel and a good memory is the best insurance policy for your coins. Only you will know where they are buried at.

 

I had the same browser issues with the ANA, but called them today and signed up. I also spoke to the Hugh Wood insurance folks to get some details on the coverage. I then called Collect Insure to compare a few things. Here's what they told me:

ANA/Hugh Wood
low premiums on coin collections. Gold and Platinum coins with numismatic value are included in regular coverage, no special addendum needed. They either don't insure bullion like Am. Eagles and Maple Leafs, or have a different policy for that, so make sure to ask if you have bullion coins in your collection.
Their "Gold Level" coverage is pretty comprehensive, covering your coins almost any place including in your pocket while walking around, traveling, at shows and in the mail. One problem is that the shipping insurance only covers Registered Mail, which is a drag, because it takes forever. Not sure why they would do that as most other insurers allow for a variety of carriers as long as you require a signature and tracking. This is the only glitch in their policy. Sure wished they covered FedEx overnight shipping with signature required, as it would change shipping times from 10-15 days to 1 day. Much more convenient. If any Hugh Wood representatives are reading this, please add that coverage. A neat part of this policy is that it covers coins from the time of purchase (so before they've been sent to you) as long as you have proof of purchase.

Collect Insure
Premiums seem a little higher than Hugh Wood if you own gold coins, , but cheaper if you don't. They require a separate addendum to cover Gold and Platinum coins that can double the cost of the policy. Coins are covered in the mail through a variety of carriers except for gold coins. This is the major problem with their policy. You can't ship gold coins at all and be covered with them. They also don't begin coverage on a purchase until the item has landed in your possession, another drawback.

The third option to be able to send coins through the mail and have decent coverage, including on gold coins, is Ship & Insure. With them, you can send stuff Priority and Overnight and avoid the long wait of Registered Mail that the ANA/Hugh Wood require.

So depending on what you're doing as a collector, some combination of these policies could be helpful since they overlap some but cover in different ways. And if anyone thinks using USPS or private carrier insurance for mailings is a good idea, good luck filing a claim. They make it difficult, time consuming, and if you can actually prove they're liable they may negotiate a lower payout with you. The USPS is particularly a pain in the ass to deal with on insurance claims from what I've heard. Good luck trying to get a hold of any Gov't agency to file a claim and get money back. But the private carriers are not much better. Unless you have a business account with one of them, they treat their business customers better. But the three insurance companies mentioned above will make any claims process way easier and smoother so you can ship with more confidence.

I'd love to hear other thoughts and experiences with these companies/policies

 

I've had Hugh Wood since they became associated with the ANA, but I have both a dealer policy and a collector policy. I do not recall the particulars of shipping with my collector policy, but my dealer policy allows me to ship essentially any method at all within my coverage limit as long as I receive a signature.

 

I appreciate you sharing that, Tom. I plan to ask them if they can add that option to a regular policy

 

Update: Hugh Wood won't alter their policy for collectors to allow for Fedex or other types of mailings besides USPS Registered. I asked if they would allow me to ship Fedex signature required and increase the premium on my policy, but they declined. Too bad as they do allow other ways of sending and receiving things on their dealer policies.

Does anyone have experience or heard anything about NACA's (North American Collectibles Association) insurance policies for collectibles?

 

Only 20% of overall coverage can be bullion value lets say your collection/insurance is worth $10,000. The bullion value of your coins is worth $5000 (don't confuse it with Bullions', they are talking about precious metal content value of your coins). They would only cover upto $2000 out of $5000 in bullion value.

 

Does Hugh Woods cover jewelry items also? Talking about like engagement rings and other expensive articles of jewelry like that?