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Author Topic: Insuring your collection  (Read 1571 times)

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Offline Philoromaos

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Insuring your collection
« on: May 31, 2009, 04:52:55 am »
Hi. I'm not sure if this is the right place for this post but I was wondering if anyone knows if there is anywhere you can get your collection insured? My collection's getting quite large now and I'd hate to have to start again from scratch if It got stolen and I'm not sure what to do. Would it be covered by home insurance or does anyone provide specialist "collection insurance". Just a thought, let me know if anone has any ideas! Thanks

Offline featherz

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Re: Insuring your collection
« Reply #1 on: May 31, 2009, 05:33:02 am »
I use collectibles insurance (www.collectinsure.com). I have no idea whether they are good or not, as I have never made a claim, but the policy that comes is underwritten by lloyds of london. They didn't insure gold coins in the past but apparently you can add that now - not that I have any. :)
Your homeowner's insurance may cover some theft, but probably not enough (at least in my case).

Offline Dino

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Re: Insuring your collection
« Reply #2 on: May 31, 2009, 05:51:48 am »
Many collectibles are specifically excluded under some homeowners' policies in the US.  Some insure, but only up to a small limit.  Several will insure via a separate rider you can purchase.

Offline b70

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Re: Insuring your collection
« Reply #3 on: May 31, 2009, 08:37:28 am »
I use Collectibles Insurance too. Like Featherz though, I have never made a claim.

Offline cmcdon0923

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Re: Insuring your collection
« Reply #4 on: May 31, 2009, 04:35:31 pm »
Ditto regarding Collectibles Insurance......been with them for about four years now. 

I wish they offered an option for a reduced premium if the collection is all kept in a safe deposit box, but their claims process appears to be so easy and non-confrontational, that it probably outweighs or at least makes up for the lack of a secure storage option.

Offline Philoromaos

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Re: Insuring your collection
« Reply #5 on: June 03, 2009, 09:35:24 am »
Hi and thanks for your replies everyone I did think that there probably would be a specialist company you could use. How do you go about getting the right amount of cover, I mean do you estimate the value of the collection yourself and they take your word for it or do you have to get an independant valuation for your collection? Are they based in the UK then too as that is where I am? Regards Adrian.

Offline Xenophon

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Re: Insuring your collection
« Reply #6 on: July 21, 2009, 07:32:56 am »
Hi Adrian. I have only just spotted this thread: my apologies if the issue is now academic.

I'm in the UK too and 4 or 5 years ago when my collection was much bigger than it is now I managed to get it insured along with my general household contents through one of the usual general insurers (Liverpool Victoria). I simply paid an additional amount (it wasn't very much, £50 or so if I remember correctly) to increase the section of the cover for named valuables - the collection was regarded as a single valuable for this purpose (I did not need to list individual coins). That increased this part of the cover from the normal £5000 to £40,000.

I dispensed with the cover a couple of years ago when I sold all my Romans, but they may well still offer it.

 

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