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Old 02-26-2007, 07:49 AM
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Default ramblin on / insurance/ card values

Posted By: Jeff O

Joe - while it's true that the bank will not take responsibility for the theft or loss of items stored in a safe deposit box, many if not most homeowners (or renters) insurance policies will provide coverage for items that are stolen, damaged or destroyed in a bank safe deposit box. I'm not sure if CIA's coverage includes this, though it very well may.

I know that Adam and I have worked on opposite ends of the insurance claims process, but I think there is one thing we both would agree on (probably more than one, actually) - document what you have, especially your most valuable items. Scanners and digital cameras are so inexepensive today - have images of your collection, particularly your high end items. Burn those images to a CD and store it off site - safe deposit box, or even a friend's house. Somewhere you can retrieve it with a level of certainty following a loss. Documentation will certainly make the claims process easier for you (or your attorney).

Jeff

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