Coin Insurance

[Millimoo]

Do any of you know about coin insurance?

Is it easy enough to sort out, what information do you need to provide, and are there any reliable brokers out there?

Many thanks!

Dave

[Rob]

Try your house contents insurer first as an add on to the policy. Some will cover collections and some won't. If they do cover collections, they are invariably classed as a specified item with an insured value which you will have to monitor to ensure it is up to date to prevent under insurance. They will require proof of value, so keep all your receipts as a basic precaution to prove you spent the money in the first place. Given the time value of money, you should find if you have bought well that the collection has a higher value than that paid, so if you want to insure for full market value you will have to get a regularly updated valuation done by a third party such as a reputable dealer or similar. If you go down this route your premiums will increase proportionately and they generally seem to be a bit less than 1% of the collection value. Depending on the total value they will demand various levels of security on the doors and windows and if high enough may demand a full blown system with Red Care or similar where the alarm is connected to a monitoring company together with an insistence that they be kept in a safe. If a safe is required, get one that is big enough not to be portable, otherwise a thief would simply walk off with it and open it later.

[custard1966]

I use this company who provide specialist insurance

http://www.hwint.com/hi/uk/

hope this helps