How do I Insure my Coin Collection?
Ian Russell on Sat, Jun 18, 2011 11:02:50 PM
We are asked on a regular basis how clients can insure their coin collection, so I thought we should post our recommendation on our website and explain the process a little.
First, a lot of people don’t realize how reasonable and easy it is to insure their coin collection. The process can be fully set up and active within a matter of days.
Second, insurance is possible while coins are at your home, in a bank’s safety deposit box, while in transit to shows and more. Just explain which coverage you would like with an insurance broker, and they will quote different rates for different levels of insurance. It is obviously cheaper to insure your collection if it’s housed in a bank’s safety deposit box as opposed to keeping it under your bed!
Third, once you have a policy with a insurance company, it is usually very easy to increase limits as you acquire more coins in your collection or if you would like to change coverage limits at different locations.
We recommend HW Wood, a company I have dealt with for over 15 years. They can be contacted at:
HW Wood International
Website: HW Wood Insurance
Please note, GreatCollections has an extensive insurance policy with Lloyd’s of London (through HW Wood), which covers all consignments while in our possession, as well as while coins are in transit to our buyers and consignors.