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Numismatic and Philatelic Property-When are Coins and Stamps just Coins and Stamps?

Coins and stamps are some of the property with restricted limits on the homeowners policy. An issue is the difference between the coins in your pocket and the stamps you put on the mail, and those coins and stamps you collect. This discussion reviews court cases and policy language.

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Summary: Coin and stamp collections pose the question of whether this type of property is subject to the special limitations contained in the homeowners policy for money and stamps. The issue is not specifically addressed in current forms, leaving the question open to insurance company policy or court decisions in a particular jurisdiction. Varying approaches to policy drafting have attempted to settle the issue, but the most current homeowners language leaves the matter unresolved. Arguments both for and against including such collections in the policy’s special limits on money and stamps may be made.

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