Thiefs broke in, I need insurance advice

A friend of mines house got broke into and they stold his safe. It was 500 pounds and hes got a good lead on who it was. I asked him if his insurance is going to cover it. He said they won’t, any advice? He lost a ton of money, over $100,000 and his coin collection and special issue money of 40 years. He’s been an avid metal detector hound and lost his lifetime collection of coins, rings and jewelry, Rick lost a ton of stuff. Anybody know if theres laws written that say he should be covered? I got to try to help him, hes a heck of a nice guy, any advice?

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It was 500 pounds and hes got a good lead on who it was.

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My insurance advice would be to tell the police.

But remember, I’m not an insurance guy.

I don’t know the answer to your question, but a 500 lb safe is pretty lite. Hindsight I know…..but to protect items worth that amount of money I would spend the extra money on a little better (larger/heavier) safe and make sure it’s secured to the floor/walls.

I agree…contact the police.

I’m not an insurance guy either, however i know that they highly recommend that photos or video should be taken of all personal property expecting to be insured and for specialty items, sometimes they suggest taking out a 2nd “Rider” policy.

The police have been contacted and his son is the business agent for the local laborers union. They had a meeting of all the local area unions plus a couple state government officials were at the meeting and his son brought it up at the meeting, even the government officials said they would help in trying to find who did it. I aksed him if he had pictures and any of the numbers wrote down from the bills and sadly he didn’t. I told him to get another safe and this time one you put in the concrete basement floor and I’d help him do it. Ricks one of those old tradition guys who dosen’t trust banks or the money system. Any advice here and I will tell him.

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The police have been contacted and his son is the business agent for the local laborers union. They had a meeting of all the local area unions plus a couple state government officials were at the meeting and his son brought it up at the meeting, even the government officials said they would help in trying to find who did it. I aksed him if he had pictures and any of the numbers wrote down from the bills and sadly he didn’t. I told him to get another safe and this time one you put in the concrete basement floor and I’d help him do it. Ricks one of those old tradition guys who dosen’t trust banks or the money system. Any advice here and I will tell him.

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Call me a sceptic but when I read he lost $100,000 in cash. I think he doesn’t want to pay taxes more then he doesn’t trust banks. If the loot is recovered there won’t be a home / business type safe in the world that will help him. This is bound to hit the newspapers and every thief and low life in the world will know about it. My advice would be to keep it stored off property and then to move.

There are places that will rent very secure storage for this type of stuff. He just needs to look around. He also should be converting this cash into some sort of precious metal. A hundred dollar bill isn’t going to be worth squat in a couple more years.

Keep in mind I’m not condemning the old boy……….he just needs to be smarter about what he is doing.

Sorry to hear about your friends loss.

If you want all risk coverage for valuables such as collectible coins, jewelry, etc.,these items have to be scheduled on your home insurance policy. If they are not scheduled, they are only covered for a certain limit, and under the carriers I work with, its normally under $2,500 for jewelry, and $100-250 for valuable paper & coins.

My advice would be to get law enforcement involved as soon as possible.

80% of all home break-ins are done by teen-aged males that live in or near your neighborhood…that is an American Family Insurance statistic…I would begin your search there an see if you can’t find the fellas safe. Another thing, even though they got the safe it is going to take some work to get it open. Might be everything will still be in it if only you can locate it. Good Luck!

Oh, and never leave $100k in your home; do like I do with all my hundreds of thousands and bury it in coffee cans.

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Another thing, even though they got the safe it is going to take some work to get it open. Might be everything will still be in it if only you can locate it. Good Luck!

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Not to be the bearer of bad news…but unfortunately it may only take a few minutes for someone to get into it. Been looking into buying one and been doing a little research….it’s actually easier that you think in many cases…..especially cheaper safes.

Breaking a safe on youtube

Head to head safe pry test

who keeps 100k in cash laying around? drug dealers thats who. who breaks into someones house and knows to go right for the safe? dope fiends that know whats in there thats who. banks are federally insured so the “dont trust the banks” perception is just rediculus.

maybe not the case here but the cops are gonna think the same thing when u tell em what was in there.(100k in cash) just dont tell em u r affiliated with brett favres sister. either way i hope u get em. i hate liars and theives.

Ricks been a friend of mine for 30 years and I know for a fact that hes not on drugs or has anything to do with them, thats a normal perception though. Its his savings from what hes earned after paying taxes. You’d have to know this guy, he works all the time and while I was there tonight he told me hes doing 2 remodels right now and has two trucks running plowing snow, everytime it snows while hes doing these and other remodels. Ricks dosen’t let grass grow under his feet and never has. He told me tonight that he had 20 or 30 years of rings and other valuables that he found metal detecting, never sold a piece of it and the ring weight in gold was 8 ounces not includeing the stones. I believe it. He told me the captain of the police dept. Here called him personally and said he’s going to do everthing in his power to find these guys. He showed me how they got in and said the police told him they knew what they were doing and they were good at robbing places by what they took and how fast they did it, 15 minutes at most they said. As for someone haveing that much money around, I know a group of people who do the same thing that are highly respected and the first letter of who they are is an A and another hint is they drive buggies, its not against the law to have that much money around or does it make them a criminal. Most of those people are protected by thier 3 dogs Smith, Wesson and Browning and they feed them very nutricious Remmington dog food, I know this for a fact. It doesn’t make you a criminal to have a safe in the house eigther to keep what you’ve worked for.

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who keeps 100k in cash laying around?

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All the catfish guides I know keep at least that laying around.

Mossy, I know you’re trying to help your friend, but everyone who has a computer or a phone now a days can read this.

For your friends safety and maybe yours, I think you might want to leave this one go. Ya know what I mean?

Ya I know Brian, were all broke now anyway.

Someone knew what he had. Someone knew where he kept it, and they took it. If I ever had that kind of money…I would be investing it in stocks or bonds. That was a sitting target and was just a matter of time before someone figured they would take it off his hands. What a hard way to learn a lesson.

Ya I know it Chris, I told him the same thing.