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Valuing a Collection for Insurance Purposes - How Do YOU Do It?
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<p>[QUOTE="GDJMSP, post: 3627571, member: 112"]Very simple answer - don't even bother trying. Simply ask for the maximum coverage you think you can afford.</p><p><br /></p><p>The reason I say that is also quite simple, it's because if and when the time ever comes that you need to file a claim, you will have no say in the matter when it comes to determining the value of each coin. The insurance company will do that - and only they will do it !</p><p><br /></p><p>The one and only thing they will ask for from you is a itemized list of the coins. What you estimate their value to be will be immaterial. What you paid for them will be immaterial. Whether they are slabbed or raw, will be immaterial.</p><p><br /></p><p>And by the way, this also applies to ANA policies from Hugh Wood. But I also highly recommend using them !</p><p><br /></p><p>edit - forgot something. The insurance company WILL ask for receipts, to prove you did indeed own the coins. But those receipts will have no effect on the what they agree to pay you. And if you don't have receipts, well, you may be in for hard time.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 3627571, member: 112"]Very simple answer - don't even bother trying. Simply ask for the maximum coverage you think you can afford. The reason I say that is also quite simple, it's because if and when the time ever comes that you need to file a claim, you will have no say in the matter when it comes to determining the value of each coin. The insurance company will do that - and only they will do it ! The one and only thing they will ask for from you is a itemized list of the coins. What you estimate their value to be will be immaterial. What you paid for them will be immaterial. Whether they are slabbed or raw, will be immaterial. And by the way, this also applies to ANA policies from Hugh Wood. But I also highly recommend using them ! edit - forgot something. The insurance company WILL ask for receipts, to prove you did indeed own the coins. But those receipts will have no effect on the what they agree to pay you. And if you don't have receipts, well, you may be in for hard time.[/QUOTE]
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