Posted By:
Jeff ObermeyerSome homeowners insurance policies will cover your collectibles without a rider. You may need to purchase additional coverage, however, as your policy limit may not be enough to cover all of your personal property PLUS your collection in the event of a total loss (generally a fire).
Safety deposit boxes are a good idea as well... but remember, the bank doesn't insure the contents. Your homeowners policy will cover items damaged or destroyed (by named perils only) in a safety deposit box. Convenience is the big problem though... I have one, but don't use it for my collection - but I do keep my COA's and all of my documentation there. This includes a complete inventory of my collection along with digital photos, all on 3.5" discs. That way if the house ever does burn down, there's no worry that the safe contents are melted/singed.
Safes are also great. The heavier, the better. Most theives want to get in and out quick, and aren't going to spend the time on a 200+ pound safe.