When I checked with my
home insurance company they
(a) didn't offer cover on my coins, and
(b) voided my existing
home insurance policy completely, and refused to cover me anymore, on the basis that I probably
had piles of krugerrands on my windowsills, inviting burglars to enter and then steal my TV set (for which they were covering me). This despite protests that my coins were not actually kept at
home and I only wanted insurance for intermittent visits and transits.
I would advise firstly to beef up physical
security, given that, for reasons that it is best you don't explain, you've chosen to keep them at
home. My priority order would be (a) a safe (b) locks (c) alarm. I put it in that order because of Murphy's law: on the day the burglar visits you'll have left your windows open and the alarm off, and/or the theft is as likely to come from an invited guest or worker as externally, and locks and alarms don't protect against guests (
nor, incidentally, do many insurance policies). Also, anecdotally, when did you last hear about an ancient coin theft from a locked safe? In-transit, and at-home-but-unsecured seem the norm.
With the coins secured, then consider insurance. Do you need it? Many people own cars with only basic third party insurance. We often bear many uninsured risks without caring too much about it. Specialist insurance for this size
collection may not be worth getting if its loss would not be a catastrophe and if you have high levels of physical protection. If you decide you do need it, then I would advise to go specialist as
Peter has done.
I offer this advice based on having worked in and studied risk management (in university, and at a corporate level, deciding how to protect, and whether to insure assets). Insurance is usually the last resort because, aside from being on
average a net cost (insurers have to make a profit), you've lost the use of the asset by the time you've called in the insurers, and you may care more about having the coins than having financial compensation. It is usually most appropriate for assets whose value you can't afford to lose e.g. your
home, or where there are legal requirements, or for risks that you can't physically protect much against in advance, such as hurricanes or medical-costs. The first resort is invariably to avoid owning the asset in the first place. Coin lovers can do this by reading books, browsing online, and visiting museums!
Post-script - noted the views of Adrian below. He may be right that I was unlucky with my
home insurance provider. I'd
still put physical protection at the top of your list, and go specialist if you decide that it's appropriate to insure.
