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Insurance for my stack


Goldmick

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I'm sure this has been covered before but a fair new members lately. I'm looking at getting my coins insured not sure if better just getting house insurance or a pm insurance policy. any help would be fantastic thanks all

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I got contents insurance from Nationwide £132.37 per year.

Includes Valuables which is jewellery and items containing gold or silver.

Total limit £31,000

Single item limit £4000

I will contact them directly to clarify if coins are included.

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50 minutes ago, Goldhooked said:

I checked with my home insurance provider and confirmed it’s covered under valuables.  They didn’t require any specific details but I have photographed everything for proof in case I ever needed to claim.

Keep receipts to all relevant addresses too - can't argue with that (if CC/Debit transaction).

They will know you have PMs but they will not know where (or in fact you didn't give them all away - let them prove that one!!)!

;)

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6 minutes ago, Goldmick said:

Ok what home insurance provider includes gold coin.s peeps

Just about all of them, if you do a comparison site input for inurance then you get the option to add gold and silver up to 20K if I'm not mistaken. 

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2 minutes ago, Goldmick said:

I bet they dont all cover gold coins. I think you would have to tell them or list them. Bet the is someone that does just insurance for coins 

I asked AXA and they said they do subject to the total limit and single item limit.

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15 minutes ago, Goldmick said:

What did they say the limit was and single item limit 

It’s whatever limits you choose on your policy for valuables but that obviously includes jewellery etc.  I only have a small stack,  I doubt it suitable for very large stacks.

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Gent’s, not to cause undue concern but one very good friend who deals with very valuable assets has noticed over 20 years that those assets that are insured more frequently seem to be stolen..... He suspects that by declaring items they become visible to insurance companies and any rogue staff.  He recommends his clients *not* to disclose addresses where the vauable items he specialises in are stored to insurance companies. 

Not my circus, not my monkeys

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7 hours ago, dicker said:

Gent’s, not to cause undue concern but one very good friend who deals with very valuable assets has noticed over 20 years that those assets that are insured more frequently seem to be stolen..... He suspects that by declaring items they become visible to insurance companies and any rogue staff.  He recommends his clients *not* to disclose addresses where the vauable items he specialises in are stored to insurance companies. 

I kind of get where he’s coming from but how do you insure them if you don’t tell them where they’re located?  Home insurance covers items at a specific address - if they get robbed from a different address they’re not covered.

I know there is cover for valuables away from home but I still don’t think that would cover items stored at an undisclosed address.

Also, AXA never asked me to declare any items.  They’re just covered generally under ‘valuables’.

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11 minutes ago, Goldhooked said:

I kind of get where he’s coming from but how do you insure them if you don’t tell them where they’re located?  Home insurance covers items at a specific address - if they get robbed from a different address they’re not covered.

I know there is cover for valuables away from home but I still don’t think that would cover items stored at an undisclosed address.

Also, AXA never asked me to declare any items.  They’re just covered generally under ‘valuables’.

That’s great - I keep my meagre bits in a safety deposit box in a bank and have to insure none the less. 

Sounds like Axa is pretty good!

 

Not my circus, not my monkeys

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I guess there must be insurances for PMs that don’t require them to be stored at specific addresses?  I just don’t think standard home insurance is suitable for someone that stores their PMs at a different address.

I know I keep going on about AXA but that’s the only insurer I’ve been with since starting to stack PM’s.  I’m due a renewal in the next couple of months and if I can find a better deal I will change.  If others are with insurers that cover PMs as standard please share the names.

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4 hours ago, dicker said:

That’s great - I keep my meagre bits in a safety deposit box in a bank and have to insure none the less. 

Sounds like Axa is pretty good!

 

I thought storing in the banks safety deposit box was a no go due to if it's in there possession it's there's. Just like the fiat in a  bank account..

Aren't banks in general also removing there safely deposit box facilities..in the UK.

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1 minute ago, Groundup said:

I thought storing in the banks safety deposit box was a no go due to if it's in there possession it's there's. Just like the fiat in a  bank account..

It does add risks that are not present if you hold your own stuff.  Such as if bank closes down or if government confiscate PM's.  If you hold your own, they can be hidden anywhere.

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Just had a very good chat with axa. Yes they sound very good they dont ask you to list your coins and do 3 different policies with different cover on coins or valuable.s you can even phone the no i put on here to talk or take out cover or do it online that they say is easy lol. They say there easy to deal with i khow they would say that but the lady i spoke with was very helpful i would say i was very happy with what they said and would and will get cover with them 

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