Insurance for my coins

Definitely, I think it's around $500/year for $100k of coverage, and that's for one of the better packages that covers coins at home and while you're at shows. I think it was $200-$300/year if you only wanted safe deposit box coverage.

 

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Yep, thats it right there. And to finish answering your question from above, you do not have to give them any list at all....which I personally was shocked about. The only list they wanted was if you had gold or silver bullion (bars) which I had a few so I put them down, but they were only one ouncers. They were more interested in the big 100 oz bars. As probably most of us on here, I keep several lists and photo shots of my coins, but for this insurance they are not required.

And also, the rates quoted, I assume are discounted for ANA members because you have to give your ANA member number to them at the time of application.

 

What about bullion? Is it because of fluatuation of the prices?

 

That's what I thought as well, they do require a list of individual items that are worth over $10,000 each. I don't have any of those and I would imagine it would be a short list for most of us.

 

Thanks a lot. That was just what I wanted to know. I'm going to look him up. If I have a problem, I'll be back asking for info. zeke

 

Thanks all for the information. I joined the ANA today and will be getting quotes from Hugh Wood once I have my membership number. I never knew a person could get rates that low.

 

There's one other consideration when buying coin insurance. If you travel with them, as I do, to shows, the insurance premium is GREATLY increased, depending on the quantity of travel. The type of safe you keep them also brings a different premium, as well as if you have an alarm system at the location of the coins. Just some added considerations to think about.

 

yes, yes, yes, and yes

I'm a Hugh Wood man myself.

 

It is a part of the fun, but there are many other parts of the hobby that are also fun, it would probably take a lot of fun out of the hobby if while we were out and our children were here with their friends if one of their friends decided to take that 1895 morgan year set, or that 500 dollar bill with the star, or took a 20$ gold piece.

 

The only thing about insuring valuable items for me is that you now list those valuables with a company that enters all this in a computer system. Now think of all the people in that company that has access to that information. Do you actually think they are all perfectly honest individuals? Listing valuable items in any company today is taking a real chance unless you really have a great security system at home. And too note how many insurance companies require you to list such security systems. All this today goes into a computer system that is available to many, many people. I still think it's better to be safe than sorry.

 

Mainly for safety, especially when you are away from home. A bank safe deposit box is extremely unlikely to get broken into.

If you want to keep a lot of valuable coins in your home, you really need a professional quality safe.

 

May well be true but then how can they insure anything if they do not know what it is or how much of it there is? This would suggest to me that in case of a robbery, they could just say here is your $10. Sorry, that's all we thought you had. I would really like to know how any company can insure items without knowing what they are.
What you say may be true but my experiences with State Farm, Allstate, Farmers and several others all want documentation of what you want to insure. Many want Professionally made estamates, photos, extensive listings or other types of documentation. So far all the ones I've tried tell me for an accurate monitary replacement a detailed inventory is required and even then, you only get a partial of that value.

 

Thought I would bring this back to the top with some information.

I joined ANA and had my membership number in a day or so. Next I did the online form for Hugh Wood. After a few days I received the quotation in the mail. If you like it you just sign the form and send payment. The price was great, about what folks said above. Doug was 100% correct in his post. They do want to know of any coins worth over 10K.
If you have a claim you will need to have records to prove your loss. I don't have an invoice for everything so I'll have to check with them on how to deal with that.

Bullion coverage is limited to 1% of the total coverage of the policy. That's not a problem for me but it could be for others. Overall, Hugh Wood, have a great program.
I'll be paying .35% of value per year for the small amount I keep at home. Farmers wanted 3% and an up to date list plus they had to know of every change in the collection for it to be covered. That's tough.

I'm really happy this thread came up. It sure helped me.