Insurance at home.

[Bogart]

Becoming frustrated by various insurers who waffle a lot when I try to get a premium for insuring  my coins at home. Have told them I will buy a eurograde 1 safe. To get a value out of them is like blood out of a stone. Some will not quote until I photo every item including a receipt, very handy for purchases done on here!

I am sure some see the risk as too great, well why advertise your services?

So does anybody here have seperate home insurance for their coins? and if so can I ask who with?

[ant1882]

13 minutes ago, Bogart said:

Becoming frustrated by various insurers who waffle a lot when I try to get a premium for insuring  my coins at home. Have told them I will buy a eurograde 1 safe. To get a value out of them is like blood out of a stone. Some will not quote until I photo every item including a receipt, very handy for purchases done on here!

I am sure some see the risk as too great, well why advertise your services?

So does anybody here have seperate home insurance for their coins? and if so can I ask who with?

I'd prefer not to tell anyone, including an insurer, exactly what I have and where it is stored.

Insurance is a waste of money IMO. Don't get me started on car insurance 😤

[Petra]

Don’t forget that any safe you have will have a limit. It may be a good size and you can stuff loads into it, however, they are usually advertised with a limit to the value you can store in them.🤔

[Bogart]

Going for grade 1 valuables to £100,000 should do me for a few months🤫

 

Can always put my cocaine in there too instead of the biscuit tin.

Edited November 14, 2022 by Bogart

[LawrenceChard]

3 hours ago, Bogart said:

Becoming frustrated by various insurers who waffle a lot when I try to get a premium for insuring  my coins at home. Have told them I will buy a eurograde 1 safe. To get a value out of them is like blood out of a stone. Some will not quote until I photo every item including a receipt, very handy for purchases done on here!

I am sure some see the risk as too great, well why advertise your services?

So does anybody here have seperate home insurance for their coins? and if so can I ask who with?

When you see a value rating on a safe, it is probably for "valuables", but there is often a lower "cash" limit, and insurers may include gold and silver bullion as cash or equivalent.

Most will also want intruder alarms.

Insurers will often expect a discount (from a retailer) of 20% or 25% for replacement of jewellery and other stuff. As they will not be able to get similar diiscount on gold bullion, they will charge a higher premium, or exclude it, and similar for cash.

Most retail jewellers will do jewellery valuations at inflated prices to allow for the discount, but also because it makes their customers feel good that their jewellery has increased in value, except that they have to pay higher premiums because of the inflated prices.

😎

[Orpster]

I use a broker called High Worth insurance and insure my coins separately to my house insurance, this is my contact

[Bogart]

18 minutes ago, Orpster said:

I use a broker called High Worth insurance and insure my coins separately to my house insurance, this is my contact

They are one crowd who I cannot get a straight answer from will email your contact.

[Bogart]

22 minutes ago, LawrenceChard said:

When you see a value rating on a safe, it is probably for "valuables", but there is often a lower "cash" limit, and insurers may include gold and silver bullion as cash or equivalent.

Most will also want intruder alarms.

Insurers will often expect a discount (from a retailer) of 20% or 25% for replacement of jewellery and other stuff. As they will not be able to get similar diiscount on gold bullion, they will charge a higher premium, or exclude it, and similar for cash.

Most retail jewellers will do jewellery valuations at inflated prices to allow for the discount, but also because it makes their customers feel good that their jewellery has increased in value, except that they have to pay higher premiums because of the inflated prices.

😎

All good points. Does seem hard to get through to some people that just because I have coins they should not be treated as cash. I wonder if I could pay my premium in sovereigns? Nobody has asked me yet about a burglar alarm. I do have one, not that it works.

So asked if I have one can answer yes😁

[TCWalker]

If you say you have a burglar alarm, you must have it active at all times, otherwise they will use this as an excuse to not pay.

My brother in law works in insurance and he has advised us to say we do not have a burglar alarm even for normal house insurance. 

[Bogart]

Does a big dog and a shotgun count?

[MonkeysUncle]

1 hour ago, Bogart said:

Does a big dog and a shotgun count?

Only if you take him to the Doggie Dentist to maintain his gnashers as fine burglar chomping machines.

My preference is a pack of tigers to be honest.

And a Terminator equipped with an Uzi 9 millimeter!

[Petra]

Bearing in mind premiums, maybe worth looking at a safety deposit box?

[AurumArgenti]

3 hours ago, Bogart said:

Going for grade 1 valuables to £100,000 should do me for a few months🤫

 

Can always put my cocaine in there too instead of the biscuit tin.

At this rate bead and beef too.

[PhilOdgny]

2 minutes ago, AurumArgenti said:

At this rate bead and beef too.

https://metro.co.uk/2022/07/07/security-tags-put-on-cheese-butter-and-baby-milk-amid-soaring-costs-16960844/

A few other things also 😂

[PhilOdgny]

31 minutes ago, Petra said:

Bearing in mind premiums, maybe worth looking at a safety deposit box?

I'm considering getting one of these myself but I understand from what I have read that often you have to insure the contents yourself even though they are in a vault.  Hopefully someone more knowledgeable can chip in on this?

[AurumArgenti]

6 minutes ago, AurumArgenti said:

At this rate bead and beef too.

I should have just said the weekly shop. I'll be quiet now.🤦‍♂️

[Petra]

18 minutes ago, PhilOdgny said:

I'm considering getting one of these myself but I understand from what I have read that often you have to insure the contents yourself even though they are in a vault.  Hopefully someone more knowledgeable can chip in on this?

If you find online your local place it will say or just email them, I can’t say as I am currently still looking for some where. Bear in mind cost, distance etc. just Google 

[Chrisplym]

1 hour ago, PhilOdgny said:

I'm considering getting one of these myself but I understand from what I have read that often you have to insure the contents yourself even though they are in a vault.  Hopefully someone more knowledgeable can chip in on this?

You are correct. Insurance is not included and you have to take out your own. Many don’t bother.

[LawrenceChard]

4 hours ago, Bogart said:

All good points. Does seem hard to get through to some people that just because I have coins they should not be treated as cash. I wonder if I could pay my premium in sovereigns? Nobody has asked me yet about a burglar alarm. I do have one, not that it works.

So asked if I have one can answer yes😁

I think that "I do have one, not that it works. So asked if I have one can answer yes" might come under material disclosure  / lack of!

😎

[Bogart]

3 hours ago, MonkeysUncle said:

Only if you take him to the Doggie Dentist to maintain his gnashers as fine burglar chomping machines.

My preference is a pack of tigers to be honest.

And a Terminator equipped with an Uzi 9 millimeter!

Now your talking.

3 hours ago, Petra said:

Bearing in mind premiums, maybe worth looking at a safety deposit box?

No I want it with me not stuck somewhere remote.

[Bogart]

47 minutes ago, LawrenceChard said:

I think that "I do have one, not that it works. So asked if I have one can answer yes" might come under material disclosure  / lack of!

😎

Spoilsport.

[HerefordBullyun]

These work quite well.....

[SilverPlatinum]

A bank safety deposit box is the best secure option.....

[Petra]

Just now, SilverPlatinum said:

A bank safety deposit box is the best secure option.....

See previous 🤔😁

[Kookaburracollector]

8 minutes ago, HerefordBullyun said:

These work quite well.....

I see the army realise how important it is to distinguish between the front and the rear…wouldn’t want to get that wrong with a claymore…or anything else come to think of it!

Edited November 14, 2022 by Kookaburracollector