There’s yet another reason why Iowans should NOT take out bundles of money for fear of losing it in a Y-2-K bank snafu. The experts say robbers will be watching for people with large amounts of cash and if your home is broken into, your big chunk of cash will likely NOT be covered by insurance.Mark Yontz is spokesman for State Farm, Iowa’s largest home insurer. He agrees with the bankers who say it’s NOT wise to take out one’s life savings and stuff it in a mattress for safekeeping. Yontz says most homeowner’s policies only cover 200-dollars in cash, even if thousands were stolen from a home. Yontz says it’s difficult to collect on stolen cash unless it’s singled out by a special policy.For people whose Y-2-K fears cannot be calmed, he suggests using a safety deposit box for cash and valuable coins — not the dresser drawer.
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