Coin Insurance?

mrcommem

What do collectors do about insuring your coins? I know about the ANA insurance that they offer but it seems a bit expensive to me at 1 percent the value of your collection as the premium per year. I have seen an outfit called Collectables Insurance. Has anybody done business with them and are they legitamate?

jbsteven

<< <i>Collectables Insurance >>



I have insurance that I believe is called collectables insurance and I saw it in Coin World. I have it and it costs about .25 of 1% per year for coverage. $25,000 worth of coverage was about $100 if I remember right. I posted on this months ago.

Twowood

Aren't our collections covered on our homeowner's Ins to some extent? Twowood

Striker

I have my collection insured through my homeowners. Mine is 100% of its worth, though I'm sure that once it starts getting into the high dollar amount you would probably have to prove that it was worth what you say.

Lakesammman

If covered by homeowners, be sure you have a specific rider and update it regularly. Mine w/o a rider covers $100, no matter what the value.

gemtone65

The ANA insurance program is the biggest rip-off going. They should be ashamed of theirselves fro charging 1%. Your homeowners policy is almost worthless unless you have a rider, similar to what many people have for jewelry.

Check with CNA Insurance. I used to have a policy with them that charged 0.05 %, e.g., I paid $200 a year to ensure $400,000. This is 95% less than ANA charges.

satootoko

<< <i>Aren't our collections covered on our homeowner's Ins to some extent? >>



$500 per piece, maximum $500 per loss (lumped in with jewelry) , in most mainline company policies, unless you have a personal property floater endorsement, which is a subject of negotiation between you and the company. Rates start very high, and go up from there!