ramblin on / insurance/ card values

[Archive]

Posted By: Joann

Let's see - Joe is right, Leon is right, Josh is right. Hey - everyone's right! What kind of board is this becoming now, anyways??

I checked with the bank where I have my safe deposit box, and Joe is correct. They merely provide a safer storage place but do not insure or reimburse any losses if something happens to the cards while in the box. I think that $1000 may be the very maximum for any circumstance.

But I still feel better with a safe deposit box. Like Leon's, mine is very close to the house and it's not all that big a deal to go grab cards, add more, etc. I have all cards worth more than about $150 in there, and I have to say I feel much more comfortable with that.

Home safes just didn't seem like an option to me. I don't think I'll be in this house long, so don't want to invest in anything built in or difficult to move. I had them in a strong box for a long time, but wasn't that confident that they would be protected from fire, etc. As to strong boxes and theft, well that just kind of makes it easy for a thief, right? Portable, obviously containing valuables, can be opened later with all the time in the world (although I'll laugh at the thief that spends hours and hours opening my file-size strong box only to find ... all of my law school outlines and my copy of Lipset's Encyclopedia).

Regardless of cataloging, proof of ownership and recovery issues, I still plan on insuring them soon (probably through CIA). Even if recovery is difficult, it's still a whole lot more than I would have now - which is zero.

Joann