Numismatic insurance Cleland and Associates

The Dealer

Coin/Bullion Dealers require an insurance policy that is flexible and comprehensive. Many "standard" property policies restrict coverage and require the dealer to adhere to a very finite set of rules (warrantees and conditions.) No two dealers are alike and an insurance provider should have the capability of addressing the needs of the individual dealer. The Cleland Coin Dealers Insurance Program provides the flexibility needed so you can conduct your business as required.

Coin Dealers Coverage Basics

The Coin Dealers policy protects the dealer in the event of loss through theft, accident, natural disaster and other perils common in the numismatic/bullion industry. The policy is manuscript to meet the specific needs of the dealer and has two basic aims:

  1. Protects the dealer's property wherever the property is at all times and;
  2. Restores the dealer to the status of "whole" in the event of a covered loss.

What kind of property can be covered?

Many different types of inventory will be protected the Cleland Coin Dealers policy. Here's a quick listing of some of the property typically covered:

  • bullion
  • coins
  • stamps
  • sports cards and memorabilia
  • tokens, collectible currency and other numismatic items

If you deal in valuables that are not listed above, it may still be eligible for coverage. You should discuss this with your agent.

Where can property can be covered?

Whether you keep property in an office, at a retail location, at trade shows, at home or in a bank safety deposit box, coverage is available through the Cleland Coin Dealers Insurance policy. The following is a partial list of coverage available through the Cleland Coin Dealers Insurance policy:

  • Premises
  • Transits
  • Shows
  • Bank Vaults
  • Registered Mail
  • Express Mail
  • Federal Express
  • Air Freight
  • Other Special Coverage

Loss settlement

Since items of this nature vary so widely, losses are settled differently, depending on the type of property insured. The Cleland Coin Dealers Insurance Policy is designed to make the insured "whole" in the event of loss. A consultation with your agent can determine what valuation provision will accomplish that.

The best precaution is prevention

In addition to insurance and depending on the value of your property, certain security measures for your business, such as an alarm system and tool resistive safes, may be required.

You should read your policy for the exact warrantees and exclusions.