Though few are aware of it, home insurance is unlikely to cover specific valuables such as coin collections, sports card collections, jewelry and other items of considerable value. If you own a coin collection, you need the right insurance.
Will flood insurance cover a damaged or ruined coined collection in Saint Charles, MO? The Nieroda Insurance Agency has the answer.
Flood Insurance and Coins
Coins have the potential to be worth tens of thousands, hundreds of thousands or even millions of dollars. The typical homeowners’ insurance policy limits coverage to personal property with some exclusions that might include coin collections.
If your coins are of especially high value and damaged in a flood, you’ll need a flood insurance policy. Even if your home insurance is applicable, its coverage for such coin collections is likely to be quite limited.
The bottom line is most coin collections have values that exceed the standard limit of a normal homeowner insurance policy. Tap into flood insurance for additional coverage and you’ll rest easy knowing your coins will be covered if the collection is damaged by flooding water. It is also possible to tack on specialized endorsements to protect coin collections and other items of high value.
Document Your Coin Collection
Ideally, you’ll take pictures of your coin collection and have it assessed once every year or two. Such an itemized record helps prove the value of your precious coins.
This way, if your home floods and your coins are damaged or ruined, you’ll have proof of their value.
Nieroda Insurance Agency
If you own a coin collection or other items of value, insurance is essential. Dial 636-255-0550 ext. 11 to speak with our flood insurance professionals. We serve the greater Saint Charles, MO area.
