For those with Hugh Wood Insurance... question...

pcgs69

If I ship a coin to someone uninsured and it is lost in the mail, will they cover the loss?

This is hypothetical, but was just wondering if was an alternative to paying USPS insurance fees.

mgoodm3

Probably depends upon the nature of your policy, ie. whether you buy insurance for shipping. It don't think that it is cheap, but you can insure for about as much as you want.

ColonialCoinUnion

You must have a policy specifically insuring shipments or you are not covered.

StampAlarm

I asked them a related question when I took out a policy with them. Please don't
take this to the bank.

I specifically asked. Now that I have your insurance do I need to still insure coins
sent in the mail or do you cover that now. The only way to explain the answer is this.

Yes, you still 'should' insure your coins BECAUSE Hugh Woods will only pick up the difference
above the maximum insurance allowed by the Post Office. In other words, we're on our
own when the coin(s) are $10K or less and sent via u.s.p.s. On the other hand, if you send
a $25K coin via registered and pay for the max insurance, is it still $10K?, and it gets lost
then Hugh Woods will cover the amount above the $10K Post Office limit.

Did I make any sense? It's been at least 4-5 years ago and I haven't asked since then.



Jerry

stman

There are different levels of insurance with them. If I wanted the correct answer I sure wouldn't be asking here. I would absolutely go to the insurance carrier and make them put anything agreed to in writing.

TomB

Speak with your representative to find out the particular details of your policy. I have a policy that allows me to transport a certain sum of coinage and have it insured. When I ship coins my representative told me to ship via Registered mail, but I do not have to insure for full value, and that my policy would cover any losses up to my limit. It saves a few dollars each time I ship, but each policy is likely to be different.

edix2001

Sorry, I thought this was about someone with Huge Wood insurance. Lookin' for a pic.