Choice CustomCollections
Choice Collections College

10 Questions to Ask Your Insurance Agent About Your Collection

A printable list of questions to bring to your agent so there are fewer surprises after a loss: special limits, deductibles, scheduling, travel, mail and more.

Even collectors who buy coverage get surprised. After a business burglary, longtime dealer Jeff Garrett wrote: "My deductible was higher than I anticipated, and there were other surprises" (NGC). These ten questions are meant to bring the surprises out before you need to file a claim.

Print this page, bring your inventory, and write the answers down.

  1. What is my special limit for coins, currency, bullion, stamps or collectibles? Is it per item or for the whole category? (Many standard forms use a small figure; see The $200 surprise.)
  2. Does my deductible apply on top of that limit? Some sources note the special limit is also subject to the homeowners deductible (USI).
  3. Should items be scheduled individually, covered under a blanket limit, or insured under a separate collectibles policy? Scheduled-property forms can still cap unscheduled coins and single coins (ISO HO 04 61 (ask your insurance agent for a copy)), and specialty insurers may require items over a certain value to be scheduled (Collectibles Insurance Services).
  4. What documentation do you need from me? Photos, receipts, cert numbers, appraisals? One specialty insurer says that while most items need no appraisal, "you are responsible for maintaining your own inventory" (Collectibles Insurance Services).
  5. Is "mysterious disappearance" covered? That's when something is simply gone with no sign of theft. Some collectibles policies exclude it (Collectibles Insurance Services).
  6. Is gradual damage covered, like toning, corrosion or humidity? Exclusions such as "dampness or dryness of atmosphere" and "gradual deterioration" are common in collectibles policies (Collectibles Insurance Services). That's why good storage matters.
  7. Am I covered when items leave the house: at a coin show, in my car, while traveling, or at a grading company?
  8. Am I covered when I ship or receive items by mail? Keep shipping receipts; PCGS advises keeping "records of all shipping receipts in case you have to file a claim" (PCGS).
  9. How are new purchases covered between the day I buy them and the day I update my policy?
  10. Are items in a bank box or a home safe treated differently? The FDIC notes banks generally don't insure box contents (FDIC); see Your bank box: 5 myths.

One more thought: PCGS's advice is blunt: "Do not under-insure to try to save a couple dollars" (PCGS). Your agent can help you weigh cost against coverage.

Try it in your portal

Export your Collection Report for heirs and insurers. It's formatted to hand to an agent: photos, descriptions, cert numbers, and a value column you fill in yourself (or from a professional appraisal), blank by default.

Talk to your own insurance agent

These questions are a starting point. Your licensed agent and your policy documents are the final word. Choice Custom Collections does not sell insurance or recommend specific insurers.

Educational only. This is not insurance, tax, legal or investment advice. Policy forms and terms vary by insurer and state and change over time.

Sources

Course 107

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Last reviewed 2026-10-28 · Draft