Quote from: subwoofer12 on August 12, 2015, 05:10:14 PM

Quote from: Dire on August 10, 2015, 02:40:58 AM

If you had that deposit box in Japan, then the insurance probably wouldn't pay out as Japanese law says a Bitcoin doesn't even exist and therefore you cannot be compensated for something that you didn't lose in the first place.

Bearing in mind all the new laws that are shifting around crypto, I wouldn't trust any insurance company to pay out. Insurance companies make their money with clauses and slide-rule identification at point of claim.

If they can find a law that means they don't have to pay out, they will.

Fortunately, I live in the United States where bitcoin is considered property. I just e-mailed the insurance company also to confirm I'd be covered Wink

Quote

Yes, the value of the bitcoins stored on the Trezor would be insurable under our policy against damage or destruction from a flood or any other natural disaster; in addition fire, burglary, robbery and other catastrophes would be covered. You simply need to select the amount of coverage you desire. In the event of loss, the replacement cost for the bitcoins and the storage device would be used to compensate you for the loss; if the replacement costs exceeds the amount of coverage you were carrying, you would simply be paid the coverage limits.

I didn't inquire about paper wallets, but I assume the same would hold true.

That's good. Not so long ago Bitcoin insurance was a touchy subject, then Lloyds of London published their insurance guide for it and it seems the standard practices for Bitcoin insurance are being implemented.

To anyone else looking to get a Trezor, I put it in another thread but figure it might be helpful here too: Trezor is now down to $99 and the price for the DHL delivery is lowered too.

$99 is for the white and grey Trezor though, the black one is a touch more expensive. I'm guessing the colors white and grey are less popular for Trezor?