Insurance for Coins

If a piece of furniture (ie coffee table or night stand etc) could be manufactured with a false bottom or trap door to hide coins in would that be something that collectors might want to own? This way the coins could be hidden in plain sight.

 

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Surprised nobody's mentioned this yet, but if you rent your current residence renter's isurance can cover anything you have inside your place. Make sure it lists anything of high specific value, but the policy usually covers your contents for a given total valueif the place gets burglurized or destroyed in a fire or other disaster.

 

This has been my experience as well. Most insurers won't even cover the true value of your home's contents if you want to get right down to it, much less collectibles.
They're not in the business to lose money and basic coverage is mostly all they pay in the event everything is destroyed.
Guy~

 

I checked into riders on my homeowners' policy for my other hobby - nearly 40 years of accumulating even cheapo model trains can still add up.

My company will let me add one, but everything has to be listed in inventory. My agent added that pictures proving ownership would be highly recommended as well.

 

If you ever watch the Antique Road Show on TV you'ld notice that every time they mention a value for insurance purposes it is excessively higher than the possible present selling price. This is due to the same reason as already mentioned. The insurance companies will pay only a portion of items listed values. So If your collection is worth $10,000, you should probably insure it for $12,500 or even more. And don't forget if it is worth that today, you may have to consider either updating every year or insure for either more now.
Although the Antique Road Show always says to do this when I checked with an insurance agent that covers my house and cars he said that there is some laws governing fraud if you insure something for an excessive amount in our state.