Collection Insurance

I contemplating if insurance is necessary if I just keep mostly everything in a SDB.

 

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Did you need a third party appraisal for State Farm? How does that process work.

 

How much value are we talking about here? Is it really worth the expense to insure it?

 

Based upon other threads, your collection is either in a safe deposit box that you complain about having to pay for or in a curio cabinet that you were told would cause coin damage over the long run. I can't imagine an insurance company agreeing to insure contents of a safe deposit box. That said, I don't think it makes sense to insure what's in the curio cabinet. Is your collection worth more than $10,000? If not, ask your parents to have it covered under their homeowner policy. At the very least, the insurance agent can direct you to someone else.

Hugh Wood won't be a viable solution for Tim's situation. I'm fairly certain you need multiple referrals to even start the process.

 

I believe if you do an internet search for State Farm current financial conditions you will find that they recently quadrupled their profits by what is reported to be claim denial.
I currently have a well documented 5-6 figure loss claim, caused by a massive lightning storm that created an explosion, fire, and irreversible damage by transient and radiant voltage to virtually all electronic components, and power systems. Their standards for proof of loss, and acceptable remedy conditions are virtually impossible to meet, although they admit acknowledgment of intensity, which was appreciably documented by photos in the presence of their field investigator.
State Farm initially stalled for 2 months, offering a token ~$200 total settlement payment before re-offering a 5 figure partial payment for minimal efforts to be completed by an independent contractor that I hired when State Farm stalled. That partial payment was stalled for another 2 months, and they have refused to pay for additional expenses/damages incurred by normal seasonal elements, caused by their untimely payment refusal.
It appears that only an adjudication by jury (possibly class action) will generate damage reversal/re-payment by this behemoth.
I strongly suggest investigation of an insurer before payment of premium.
JMHO

 

Hugh Woods will cover the coins in your SDB.

I didn't need any referrals when I signed up with them.

 

Oh, I must be thinking of the other ANA insurance group. I recall them specifically requiring three references on the application.

 

Up here in the Great White North, I too use Hugh Woods for the contents of my safety deposit box. Most of what I have in there, are in PCGS holders, so the online coin registry with PCGS is a living record in case there is loss.

PS - so sorry about your Olympic hockey team(s).... Go Canada!!

 

ShipandInsure.com is the company I was thinking of.