Insuring your collection

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Interesting. This suggests that your home owners or renters insurance policy may also cover the contents of a safety deposit box:
http://foreignborn.com/self-help/banking/10-sd_boxes.htm

And, it looks like the bank's insurance may be on the line if the bank is negligent (ie; a water pipe bursts or they allow a thief into the vault without an escort).

I'm surprised that banks don't sell insurance policies on their safety deposit boxes. Seems like a pretty reliable money maker for them.

 

I've thought about getting a quote for insurance through Hugh Wood (the retail value of my collection is roughly $35,000.00). I don't know if I can qualify, though, as I live with my folks (and don't own the home I live in/rent it). In looking at their application, they ask you about whether you store your coins in a safe and/or have an alarm system (if I remember correctly), we don't have either (and my folks aren't inclined to take on the expense of getting either). Does not having a safe cause your premium to skyrocket? In my opinion, it wouldn't hurt to fill out the application and apply to receive a quote. But my brother is a goldbug (owns a lot of bullion) and insists that the best protection is not having people know that you own a collection in the first place. And he means nobody He thinks that applying for coin insurance is dangerous in the sense that you don't want anyone to know about your valuables. Semi-paranoid thinking? Thanks.