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Hugh Wood Coin Insurance

For those who use coin insurance (or are thinking of buying it), I wanted to relate what happened with a recent claim with Hugh Wood coin insurance. Having been a customer of theirs for years, I've had 1 claim in the past (a $17,000 claim) which was a lost package. They handled it promptly and professionally.

Recently, as some of you are aware, I lost a valuable package of silver eagle errors valued at about $29,000. The coins had been shipped to Germany, and had been presumably lost/stolen there at the post office (it never was determined.) I filed a claim with Hugh Wood, and they processed the claim for me in a speedy manner, and are now paying us for the loss in full (awaiting a check from them at this time.)

Having had shipping claims with them now twice, I highly recommend this company--they "have your back" when you have a legitimate claim.

www.sullivannumismatics.com Dealer in Mint Error Coins.

Comments

  • 1630Boston1630Boston Posts: 14,111 ✭✭✭✭✭

    Sounds like you chose the correct company for your insurance needs :smile:

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko

    Bad transactions with : nobody to date

  • TomBTomB Posts: 22,032 ✭✭✭✭✭

    It's terrible about the loss of the coins, but the review of the integrity of Hugh Wood, Inc is terrific to read. I also use Hugh Wood, Inc and recommend them to all who are interested in numismatic insurance.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • OPAOPA Posts: 17,137 ✭✭✭✭✭

    Been using them for years. Never had to file a claim though....knock on "wood." ;)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • SeattleSlammerSeattleSlammer Posts: 10,048 ✭✭✭✭✭

    This is great to hear, glad that you're being reimbursed. But in past threads on HW, people have indicated that no third-party appraisal is required...is that true? It's hard for me to wrap my brain around an insurance entity paying a claim without a previous appraisal from a third-party......

  • koynekwestkoynekwest Posts: 10,048 ✭✭✭✭✭

    That's who I have. I'm glad to hear they are a top-notch company.

  • logger7logger7 Posts: 8,975 ✭✭✭✭✭

    I'm glad you have had success through them; however I would hope that law enforcement through or within the shipping companies would nail the perpetrators because they get emboldened if not caught. I have a suspected theft case with the usps now that I have pursued to try to get to the bottom of it on a parcel where tracking showed up as "forwarded" but nothing after that. A local dealer who has done a great deal of shipping for many years thinks the contents were swiped. With usps you can work with the postal inspectors and also your congressman's office. Theft is inexcuseable.

  • ShadyDaveShadyDave Posts: 2,217 ✭✭✭✭✭

    @SeattleSlammer said:
    This is great to hear, glad that you're being reimbursed. But in past threads on HW, people have indicated that no third-party appraisal is required...is that true? It's hard for me to wrap my brain around an insurance entity paying a claim without a previous appraisal from a third-party......

    For most of their policies, you don't need an appraisal on coins that have an individual value under $5,000. Coins over $5,000 that changes. I posted some pictures a while back on another thread here with their application and general coverages and inclusions/exclusions that show what they require and what their general coverages are.

  • ShadyDaveShadyDave Posts: 2,217 ✭✭✭✭✭

    Here's the link I was talking about:

    https://forums.collectors.com/discussion/comment/11673893#Comment_11673893

    I'm glad the insurance is working for the OP!

  • PandavabPandavab Posts: 960 ✭✭✭

    I haven't had to use them yet (knock on wood!), but they have been nice from my conversations with them and I've only heard great reviews of them handling claims.

    Obviously, the best insurance policy is the one you never have to use. But, considering you usually can't control that, the next best is the one that makes your life easy and is painless to work with when you actually do need them.

  • 1630Boston1630Boston Posts: 14,111 ✭✭✭✭✭
    edited April 25, 2017 11:07AM

    @Pandavab
    I think you mean "Knock on 'Hugh' Wood" :smile::smile::smile:

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko

    Bad transactions with : nobody to date

  • Aspie_RoccoAspie_Rocco Posts: 3,563 ✭✭✭✭✭
    edited October 15, 2019 9:20PM
  • coinsarefuncoinsarefun Posts: 21,756 ✭✭✭✭✭

    I have them for insurance and so far haven’t had to use them. It is comforting
    to know they are fairly easy to deal with. Thanks for sharing.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Good report on a topic that has often been discussed here...Insurance on our coins. Over the years, I have only seen positive statements about this insurance. Glad to see it continues. Cheers, RickO

  • JGRCJGRC Posts: 33 ✭✭✭

    I have used them for two years. I have had one lost package and received a payment within 30 days.

    I have been able to recover the cost of Hugh Woods insurance within two months each year by not having to pay USPS insurance for the packages I mail.

  • oldabeintxoldabeintx Posts: 2,384 ✭✭✭✭✭

    Compared to the cost of adding your collection as a scheduled item to your homeowners policy, it's a super bargain.

  • BullsitterBullsitter Posts: 5,861 ✭✭✭✭✭

    Never had to use them but slept well at night because of them.... B)

  • messydeskmessydesk Posts: 20,271 ✭✭✭✭✭

    I've been using them for years. Never had a claim, but if I ever do, I'm glad it'll be with them and not the post office.

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