Insurance and appraisals for a coin/medal collection

Saltysam-1 covered the Hugh Wood policy quite well. I have my collection insured with Hugh Wood as well and I think the yearly premium is very fair and reasonable. Off premises coverage is %100 as long as the coins are in your possesion.
One final comment about SBD's. Those in the World Trade Center were also considered %100 safe.

 

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Last I knew the rates were in the 50 cents to $1 per hundred dollars in insured value but that has been awhile. Another thing I have heard is that a separate itemization is only required for individual pieces worth over either $5000 and $10000 or more. Rates are lowest for collections stored in SDB, higher for collections stored at home in a safe, higher yet for collections stored at home not in a safe. And a little more to cover the collection while in transit. Of course you would seldom be transporting the entire collection so you could get coverage just on the value actually being transported. As far as coverage during shipping I prefer USPS registered mail coverage.

 

I'm using Hugh Wood as well. It's easy to deal with but would love to here from someone that has actually had to file a claim.

 

I looked at their application forms on their website today. I wish you could e-mail them instead of printing them out and mailing. Maybe you can? It seems like disclosing an awful lot of information on paper that will be traveling to an unknown number of strangers in New York city and then ending up hopefully in a shredder. I know many people have done it and they need the info but it bothered me a little. Maybe I could fill them out and scan them. Don't know why not.

 

Thought I read you could call them directly to get the insurance.

 

I called them today. The lady gave me the steps to go through on the website to get to the forms you have to fill out and send to them for a quote. You're required to answer a bunch of questions, just short of GPS coordinates to where you keep your collection. With your name and address at the top of the page. Including the safety measures you do or don't have in place.

 

I have used scan and e-mail before with other financial documents. Some accept it and some do not. They seem to accept faxes more often.

 

www.collectinsure.com also insures coin collections. Gold/bullion is limited to 20,000 but if the premise has alarms and/or 300lb+ safe the carrier will usually do higher amounts of gold/bullion. The policy automatically provides blanket coverage to SDB and provides $60,000 transit (or policy limit if less).

All insurance companies are going to need to know the value, location and safeguards in order to issue a policy. You can submit the applicaiton online at www.collectinsure.com. The online app pages are secure, however you will be inputting value of collection, premise address and safegaurds. You can also email, fax or mail. Not sure any of those methods are completely secure. The fax machine receives the fax and internally emails (within the fire wall) to secure mailbox so that might be most secure method of transmitting.