Numismatic insurance Cleland and Associates

The Investor

As an investor, you need the services of a dealer who has the ability, knowledge, market reach and works for your goals, not his own. The same is true for the agent insuring the investments. The policy we provide investors cannot be purchased through your local insurance agent who will place restrictions and limitations on the collection or accumulation of rare coins and similar property.

Valuable Items Coverage Basics

Valuable Items coverage supplements coverage for possessions of higher monetary value, such as your coin collection. While most homeowners policies have limits on the dollar amount and type of loss that can be recovered, our Coin/Bullion Valuable insurance coverage will provide the protection you need for your most valuable possessions in the event of loss through theft, accident or natural disaster.

When would a valuable items policy be needed?

The protection provided for personal property under the typical homeowner's policy is very broad, and includes coverage for your furniture, clothing, and appliances. In addition, it provides limited coverage for such items as jewelry, silverware, furs, and firearms. However, most homeowner's policies set dollar limits on the amount of protection offered to cover the theft of items such as coins and bullion. Additional optional add-on coverage to the homeowners policy enhances coverage by providing higher limits (up to as high as $50,000 in some cases, but limited to $10,000 per item). This usually provides most homeowners with enough coverage but when accumulations and collections exceed these thresholds, our Coin/Bullion Valuable policy is your best option and will provide the limits you need.

What kind of property can be covered?

Many different types of possessions can be accommodated by the Cleland Valuable Items policy. Here's a quick listing of some of the items typically covered:

  • bullion
  • coins (rare and current)
  • stamps (rare and current)
  • sports cards and memorabilia
  • tokens, collectible currency and other numismatic items

If you own something of value that is not listed above, it may still be eligible for coverage. You should discuss this with one of our agents.

Where can property can be covered?

Whether you keep property in an office, at home or in a bank safety deposit box, coverage is available through the Cleland Valuable Items policy.

Loss settlement

Since items of this nature vary so widely, losses are settled differently, depending on the type of property insured. For coins and other collectibles, in the case of a total loss to a scheduled, appraised item, you are reimbursed for the agreed value shown on your policy. If no schedule is provided or required, a replacement settlement or cost settlement may be your best option. Talk to your agent to insure that you will be made "whole" in the event of loss.

The best precaution is prevention

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

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