High Value Stamps Displayed In Album?

True, Stampman2002, but then there's always the "Take a little; leave a lot" kind of thief who has somehow learned what you have and takes ONLY a few, high-value items, leaving everything else untouched. It could be quite some time before you notice something is missing, especially with 45,000 stamps. Coin collectors have been victims of this type pf theft for decades.

It doesn't pay to advertise your holdings, especially on social media. There could be a dishonest stamp collector out there looking to score a particular item.

Personally I think I worry more about, let's say fire or accediently damaging from maybe turning a page wrong. I love being able to enjoy seeing my stamps, and if someone broke in to steal something, I'm fairly sure they would take my 55" OLED or laptop next to my stamps rather than trying to pick the right album that might be worth money.

Has anyone had to make a claim with Hugh Wood /APS insurance? How did it go? I keep a decent inventory and scans but wonder what I would actually get should the collection be stolen or lost in a fire. Is it replacement value based on a certain percentage of catalog? Negotiate with the insurance company item by item.?

When I got my Hugh Woods policy, I asked about replacements. I was told they insure collections for anywhere between 50 to 70% of the latest Scott catalogue value.

So, if my collection had a SCV of $100,000, they would cover me for $50,000 to $70,000 (my choice within that range) and set the premium accordingly.

YMMV.

Very timely topic. I am working on an inventory for a rider on my homeowner's policy. They are very willing to take my inventory and grading as it is in EZStamp. They are looking for 75% of the collection to be regularly stored in a fireproof safe or bank vault. I have not yet completed, at least a year away from a full inventory of album mounted, but they will adjust valuation as I provide updated EZStamp data. We have not yet come up with a percentage of listed value especially as EZStamp prices do not equal Scott values. My first submission list will be in January. I will advise of premium charge as soon as available.

You would be wise to check out the policies from specialized insurance companies, such as Hugh Wood or Collectibles Insure, or from an arts-oriented company, such as Chubb or AXA is your collection is especially valuable. They usually have better rates and are easier to deal with in the need for inventories and/or claims.

Chip