Hugh Wood Coin Insurance

SullivanNumismatics

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.

1630Boston

Sounds like you chose the correct company for your insurance needs

TomB

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.

OPA

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

SeattleSlammer

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......

koynekwest

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

logger7

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.

ShadyDave

@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.

ShadyDave

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!

Pandavab

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.

1630Boston

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

Aspie_Rocco

great information, thank you

coinsarefun

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.

ricko

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

JGRC

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.

oldabeintx

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

Bullsitter

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

messydesk

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.

cnncoins

I've used Hugh Wood for years and would recommend them to anyone in our industry. As some of you know, I had a robbery of my old company in 2007 after the Orlando FUN Show. Our losses were in excess of $4,000,000, and they were incredibly professional to work with. An insurance company is only as good as when you have a claim, and they were great.