Insuring physical crypto collectibles

[Abiky]

I have many high-valued physical crypto collectibles that are often loaded. Do you think it's a good idea if I just insure them against theft or damage? Like buying insurance from an insurance company to help protect my valuables. I'm US-based, by the way.

Any suggestions and/or recommendations would be greatly appreciated. Thanks in advance.

[MrDipBuyer]

Good luck. I have yet to find a company,  including Chubb, that will insure them. I am about to ask Heritage Auctions who they use.

[bitbollo]

Items not loaded are easily insured...however there are some generical that could cover all issues on these matters.

The problem arise with loaded/insuring the loading... I tried to find insurances in Italy and generally no one company has any interest to insure those items.
But there are generic insurance that could potential cover these thieft/house effraction/incidents and so on (like you have an insurance that cover everything up to a certain value...).

[anonymousminer]

Items not loaded are easily insured...however there are some generical that could cover all issues on these matters.

The problem arise with loaded/insuring the loading... I tried to find insurances in Italy and generally no one company has any interest to insure those items.
But there are generic insurance that could potential cover these thieft/house effraction/incidents and so on (like you have an insurance that cover everything up to a certain value...).

In the US you have to have a separate rider like you would with jewels, or art.  The problem is you need to state a value of the items with pictures etc.  If the items go up in value, you have to go back to the ins company and up the value.  The same has to be done if the value goes down enough.  (example:  coin is insured for 100k, btc dips to 50k, coin gets stolen, they will not just give you 100k, they will try to replace it.  If it only costs them 50k to replace, they win.  Most ins companies will just pass though... I have invested too many hours to count into this topic. Good luck.

edit:  on the other hand if you have the coin insured for 100k and the BTC is worth 130k plus the minimal coin premium... they are just paying the 100k.  It's all the scam... with what you would pay in premiums on said policy plus the hoops to jump through to prove the theft etc etc etc... just spend the money creatively to protect your assets IMO.  Imagine 10 years and 10x from here... the policy will only balloon to where it's not worth it and you lose all that money invested into the policy. 

[OgNasty]

My homeowners insurance company has been willing to insure my Bitcoin collectibles in the past. It is extremely affordable as well. I have my doubts as to whether or not they will actually pay out a claim, but if it is insured and you file a police report I don’t see how they wouldn’t. The tricky part, as mentioned, is getting an accurate and acceptable appraisal. As with everyone in the world (except ibminer, see my trust feedback), they value things in dollars, not BTC.

[Spokanistan51]

Stack’s Bowers offers insurance if you store your items at their Dallas facility. Insurance: Property stored in the SBG Vault is insured for fair market value at no additional cost. They quote you storage costs based on the items you have there.

[MoparMiningLLC]

My homeowners insurance company has been willing to insure my Bitcoin collectibles in the past. It is extremely affordable as well. I have my doubts as to whether or not they will actually pay out a claim, but if it is insured and you file a police report I don’t see how they wouldn’t. The tricky part, as mentioned, is getting an accurate and acceptable appraisal. As with everyone in the world (except ibminer, see my trust feedback), they value things in dollars, not BTC.

is it your own insurance company? you have ran those in the past and we all know how well that paid out to those that lost...


well rather than answer the above question,  mrognasty resorted to pm's with cursing and name calling, typical.

Oh and threats of suing me for libel. No libel here good sir - just the truth. You are a dirty slimy nasty (name fits) scamming person who has fleeced the forums directly and it's members for years. Again - no lies in that statement - pure 100% truth.

Yes, he ran an insurance policy before - on a scamming ponzi he promoted - we all know this. It is ancient history. 

My question was whether the insurance he now uses is his own insurance company or not?

historically, while those who had one of his policy's were indeed paid, it was not anywhere near the value they lost. So, I would call that a pretty crappy policy.

[tread93]

Stack’s Bowers offers insurance if you store your items at their Dallas facility. Insurance: Property stored in the SBG Vault is insured for fair market value at no additional cost. They quote you storage costs based on the items you have there.

Interesting I didnt know that. Honestly I feel like this type of insurance wont be available at least decent affordable insurance until there is a documentary and education on bitcoin collectibles or something like that. This space would need to get much more acclaim and popularity to become an insurance eligible, especially coins that are loaded

[Abiky]

Stack’s Bowers offers insurance if you store your items at their Dallas facility. Insurance: Property stored in the SBG Vault is insured for fair market value at no additional cost. They quote you storage costs based on the items you have there.

Sounds like a dream come true. But how exactly does this work? Should you send/ship them your valuables? Or is it a physical thing (like going to their Dallas facility personally)? Because based on where I live, that's a bit too far. Crypto market prices fluctuate over time, so I guess they will just mark the current value of your collectibles during submission to use that as reference when making an insurance claim.

Imagine if the loaded value goes up..You'll end up losing money big time in case of a theft. I think it's best to insure non-loaded crypto collectibles for now.

[Spokanistan51]

Don't quote me but I believe once you have an agreement on items being sent and cost via contract, they send return ship items to then mail your valuables in. I only have received correspondence from them about this new service they offer at S&B. If you decide to auction/sell etc, it's very convenient as they can then just pull from your inventory and list in an upcoming auction.

Stack’s Bowers offers insurance if you store your items at their Dallas facility. Insurance: Property stored in the SBG Vault is insured for fair market value at no additional cost. They quote you storage costs based on the items you have there.

Sounds like a dream come true. But how exactly does this work? Should you send/ship them your valuables? Or is it a physical thing (like going to their Dallas facility personally)? Because based on where I live, that's a bit too far. Crypto market prices fluctuate over time, so I guess they will just mark the current value of your collectibles during submission to use that as reference when making an insurance claim.

Imagine if the loaded value goes up..You'll end up losing money big time in case of a theft. I think it's best to insure non-loaded crypto collectibles for now.