Hugh wood insurance

milkcoin

Hello forum,
today I am asking about insuring coins after hearing about all the robberies, break ins, thefts going on lately in lieu of the FUN show.
Is insuring your coins worth the added cost?
Does insurance cover you from unexpected theft or loss?
I ask because I am considering a policy with Hugh Wood insurance today, and want to know from you all if that is the prudent thing to consider.
Thanks!

blu62vette

The cost through Hugh Wood is pretty low as a percent of value so definitely something worth considering.

I happily have never had a claim but have worked great with their team on renewals and questions.

coinsarefun

<< <i>The cost through Hugh Wood is pretty low as a percent of value so definitely something worth considering.

I happily have never had a claim but have worked great with their team on renewals and questions. >>






Yes, what he said

TomB

I use Hugh Wood, Inc and would urge you to contact them directly to find out accurate answers to your questions.

milkcoin

<< <i>I use Hugh Wood, Inc and would urge you to contact them directly to find out accurate answers to your questions. >>



I have come to the forum seeking the "forums" perspective on the matter of insuring coins. Direct questions about policy and rates have been and are going through the Hugh Wood customer service department, but again, all I am here to do is gauge opinions from like-forum members who may or may not have Hugh Wood or any coin insurance and hear their thoughts on it to a considering coin collector.

TomB

I apologize for misinterpreting your thread. The two questions I noticed in the first post are policy-specific and could only be answered accurately by Hugh Wood, Inc. My perspective is that I have had coin insurance for nearly two decades and would not do without coverage. Hopefully, I have interpreted the thread correctly this time.

DrPete

Hugh Wood is a very good company. They have strict requirements on how much value you can have on your person, and where you keep it, to minimize your risk and theirs.

Any time someone brings up coin security, I think an education is in order. In addition to the actual insurance policy, time spent thinking and reading about your own security and your coins' security can take you a long way to prevent a loss.

I don't have the links right now, but I know there is a Colonel that has a web-site that is absolute must reading about coin and coin show security. Avoid making yourself a target. Keep coins locked in a safety deposit box, not at home, watch your near and perimeter security and the like. Hopefully, someone else can help you find the website that I am referring to. Much is common sense, but is still worth keeping in mind.

What you really want is a well-thought out and comprehensive plan to keep you and your belongings secure.

Hint: Do not leave a coin show in your car by yourself, drive directly to a fast food place, go inside and eat or use the restroom. This plan is used by people that have a special name: Victims.

Good luck.

ksammut

Just sent in my annual renewal payment to Hugh Wood. You receive a discount if you are an ANA member.

pcgs69

<< <i>Just sent in my annual renewal payment to Hugh Wood. You receive a discount if you are an ANA member. >>



I believe you have to be an ANA member to get Hugh Wood insurance. They don't offer it without ANA membership

messydesk

It really depends on how you view your coin collection whether or not you insure it. If you view it as an asset, the loss of which would have a life-changing financial impact on you, the decision to insure it is no different than your decision to insure your house and contents for replacement cost. If you view it as something purchased with disposable income that you never expect to convert back into a meaningful amount of cash, then you might not think insuring it to be worth the extra cost.

lcoopie

Get
It

johnny9434

thanks all for the info.

cwt

<< <i>Hugh Wood is a very good company. They have strict requirements on how much value you can have on your person, and where you keep it, to minimize your risk and theirs.

Any time someone brings up coin security, I think an education is in order. In addition to the actual insurance policy, time spent thinking and reading about your own security and your coins' security can take you a long way to prevent a loss.

I don't have the links right now, but I know there is a Colonel that has a web-site that is absolute must reading about coin and coin show security. Avoid making yourself a target. Keep coins locked in a safety deposit box, not at home, watch your near and perimeter security and the like. Hopefully, someone else can help you find the website that I am referring to. Much is common sense, but is still worth keeping in mind.

What you really want is a well-thought out and comprehensive plan to keep you and your belongings secure.

Hint: Do not leave a coin show in your car by yourself, drive directly to a fast food place, go inside and eat or use the restroom. This plan is used by people that have a special name: Victims.

Good luck. >>



Would this be the link to the site you mentioned?
link

RichieURich

<< <i>Hello forum,
today I am asking about insuring coins after hearing about all the robberies, break ins, thefts going on lately in lieu of the FUN show.
Is insuring your coins worth the added cost?
Does insurance cover you from unexpected theft or loss?
I ask because I am considering a policy with Hugh Wood insurance today, and want to know from you all if that is the prudent thing to consider.
Thanks! >>



You have asked some good questions.

Is insuring coins worth the cost? I learned long ago that you purchase insurance whenever the potential loss is one that you could not withstand without the insurance.

If you can't withstand the financial loss if your house burns down, then you purchase fire insurance.

Does insurance cover you from unexpected theft or loss? Well, first, I would hope that no theft or loss is "expected", but you might be asking a different question, does insurance cover unexplained disappearance? In most cases, no, but check with Hugh Wood.

I also want to commend Hugh Wood for good customer responsiveness, and commend the ANA for switching to Hugh Wood several years ago, with a resulting reduction in premium costs of 30% to 50%.

DAVEatHLRC

Hugh Wood is a superb firm in the field of coin dealer and coin collector insurance. I give them my highest recommendation.

That said and as others have mentioned, you should always use common sense and caution when transporting and storing coins.

Those articles on the butternut.org site are excellent; I have read and reread them several times over the years. Sometimes I print out an article just to re-read on the plane going to a show. They are chock full of very specific and useful advice.

GeorgeKellogg

I have insurance through the ANA (Hugh Wood), for the same reason that I insure other major assets.

Amigo

I don't understand why Collectibles Insurance Company is never mentioned. I've used them for years and think they are far superior.

halfhunter

<< <i>I don't understand why Collectibles Insurance Company is never mentioned. I've used them for years and think they are far superior. >>



I prefer Melon Head Insurance . . .


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OPA

<< <i>

<< <i>Just sent in my annual renewal payment to Hugh Wood. You receive a discount if you are an ANA member. >>



I believe you have to be an ANA member to get Hugh Wood insurance. They don't offer it without ANA membership >>



Correct