Insurance of gold coins

sowilo

I have some Sovereigns and Kruggerrands which I would like to include in my home insurance but my insurer wants a valuation every 3 years. To me this is ridiculous. Their value is dependant on the current gold spot price which fluctuates constantly so any valuation is incorrect. Mainly though, the cost of getting them valued is extortionate. Oddly, my camera equipment does not have to be valued even though the value is very much based on condition. I have original receipts and would be happy to provide evidence that they are still in my possession. I do have other items which I am happy to have valued.
Please, I don't tell me why they do this, I only want to know if anyone knows of any insurance company that would not require me to waste a silly amount of money on pointless valuations on gold coins. Thank you.

cjv

https://www.admiral.com/home-insurance/optional-cover/high-value-items.php

Any good? says in some instances they may require proof of valuation, but a quick call to ask will let you know for sure.

agrinnall

I'm unsure why there is a significant cost for getting a valuation. As I understand it ordinary gold coins (i.e. those without a particular rarity value) are worth what their gold content is worth, and that's a simple look up on the day of the valuation.



http://www.krugerrands.org.uk/krugerrand-prices.aspx