Coin collection insurance

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Fri Jan 20, 2012 4:37 pm   Post subject: Coin collection insurance  

Is there a standard method to value collections? I have a huge coin collection along with a scale model car collection and a stamp collection. Is there any way to insure them? The other problem is that I had inherited a significant portion of my coin collection from my grandfather. Right now, there are at least 3,000 thousand or more coins in my collection. Would an insurance company take the pain to value each unit individually and then provide me with the adequate amount of insurance?


_________________
Register Now to have your Insurance queries solved.
Sambo
Guest







PostPosted: Fri Mar 30, 2012 10:33 pm   Post subject:   

I am not an insurance agent but I will share what I do know. First you should contact your insurance company or agent and see if your homeowners insurance company will offer you a rider on your policy for your collections. If they will they will most likely ask that you have the collections appraised and this will set the amount that they will insure you for.

Don't wait any longer though as you will have very limited coverage for these items under your standard homeowners policy until you purchase a rider or seperate insurance.



_________________

Greg Roover

Public Adjuster - Loss Appraiser

Claim Concepts, Inc.

800-801-2099

www.ClaimConcepts.com
ClaimConcepts
Member
Leave a quick message

Claim Concepts

Joined: 10 Mar 2012
Posts: 93

Location: Jupiter, FL
11.83 Dollars($)

PostPosted: Thu May 17, 2012 4:21 pm   Post subject:   

All homeowner insurance policies contain limits on certain types of property. Normally, these limits apply to theft losses. The typical types of limited property include guns, tools, furs, sterling/goldware, jewelry, stamps, "money" and other personal property. Money is normally defined as anything with a monetary or numismatic value, such as a plain old $10 bill or a 2012 Silver Eagle in MS70 condition.



The typical policy limit for money is $200. Sounds like you may just have a bit more than that in collectibles: your coin collection, stamps, scale model cars (probably not limited, but I'd check).



You need to contact your agent right away. There are absolutely ways to cover your collections. You'll likely need appraisals and other supporting documentation, but that's easy to get. Don't wait- the worst thing would be to have a loss without properly insuring your stuff!



InsTeacher Cool

InsTeacher
Forum Expert
Leave a quick message

InsTeacher
Forum Expert

Joined: 13 Aug 2007
Posts: 1398

Location: Oregon, USA
127.26 Dollars($)

Quick Reply
Your Name
Subject
Message body
All times are GMT
Page 1 of 1


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

    Connection Error: Connection refused