PDA

View Full Version : Your homeowners insurance does NOT cover your guns!


Toolbox X
02-15-2009, 12:39 PM
I recently spoke to my Farmers Insurance agent when my homeowners insurance policy came up for renewal. He knows I'm into guns and asked about how much my collection was worth now. I told him and he said he needed to check how much my policy would cover if they were stolen or my house burned down.

When he called me back he said my policy would only pay up to $2500 for guns.

I told my friend to call his agent (different insurance company) and ask about how much his policy will cover. $1000 was the answer.

Both my friend and I have now purchased rider policies to cover our guns, ammo, gear, reloading equipment and components. They cost about 1% of the amount the policy covers. So $100 per year for $10,000 in coverage, $200 for $20,000, etc.

DO NOT ASSUME YOUR GUNS ARE COVERED!
Call your insurance agent or company first thing Monday morning and ask how much you would be covered for if all your guns were stolen.

MonsterMan
02-15-2009, 12:41 PM
Thanks for the heads up. I might do the same thing you did and buy a little extra protection so I am covered.

ysr_racer
02-15-2009, 12:45 PM
DO NOT ASSUME YOUR GUNS ARE COVERED!
Call your insurance agent or company first thing Monday morning and ask how much you would be covered for if all your guns were stolen.

Yep, what he said.

shooterfpga
02-15-2009, 12:47 PM
im definately going to check on my insurance policy.

RRangel
02-15-2009, 12:52 PM
Your guns are covered, it's just that there is a limit with a standard policy. This is normal. You simply need to buy additional coverage so have your receipts handy.

Toolbox X
02-15-2009, 12:57 PM
I should add, you should absolutely document the guns you have. The best way to do this IMHO is to take a picture of each gun, and a close up pic of the serial number. Burn these pictures to a CD and store a copy in the gun safe of a friend or family member.

TeirHawg
02-15-2009, 1:09 PM
My current homeowners policy covers up to $5000 for firearms. Anything over that amount my agent wanted detailed information such as: make, model, serial number and value.

Since I only have a single shot .22 rifle, and a break open 12 gauge, didn't want to go thru all that documentation. :TFH:

Fjold
02-15-2009, 1:09 PM
Our Allstate homeowner's policy only covered $2000. I had to add the rider.

50BMGBOB
02-15-2009, 1:18 PM
I've had a rider for a long time. If you have vary much of anything, wifes jewery or any collection (stamps, coins, art) check about a rider.

USN CHIEF
02-15-2009, 1:22 PM
For my insurance through USAA I was told that they would only cover $2500 too but the agent told me to only list the receivers and that I should list everything else separate as non firearms (uppers/scopes/ammo/reloading equip/stocks/sights/etc) so I did that. So now everything is covered.

Can'thavenuthingood
02-15-2009, 1:28 PM
But what about the 3,000 pounds of .45ACP?

Vick

proudamerican831
02-15-2009, 1:29 PM
deleted

smokingloon
02-15-2009, 1:39 PM
For my insurance through USAA I was told that they would only cover $2500 too but the agent told me to only list the receivers and that I should list everything else separate as non firearms (uppers/scopes/ammo/reloading equip/stocks/sights/etc) so I did that. So now everything is covered.

I was about to send USAA a e-mail but I guess you already covered it. :thumbsup:

Wildhawk66
02-15-2009, 1:42 PM
in order to insure them for value I must get each one appraised and have the appraisal in hand when I insure them

I was told the same by Mercury.

Toolbox X
02-15-2009, 1:48 PM
I have Farmers Insurance. I also have a limit on coverage. He told me, in order to insure them for value I must get each one appraised and have the appraisal in hand when I insure them.

That is craziness!

jeffyboy
02-15-2009, 1:52 PM
Thanks for the heads up. I'll be calling my agent tomorrow.

vega
02-15-2009, 3:44 PM
State Farm have a coverage of $5000.

NiteQwill
02-15-2009, 4:09 PM
Where and whom did you buy the additional rider policy through?

Also, to add to burning it to a CD, I would recommend putting the pictures into an archive (.rar, .zip, etc.) and emailing it to yourself at 5+ different accounts and archiving it (GMail, for example).

Harbinger
02-15-2009, 4:13 PM
For my insurance through USAA I was told that they would only cover $2500 too but the agent told me to only list the receivers and that I should list everything else separate as non firearms (uppers/scopes/ammo/reloading equip/stocks/sights/etc) so I did that. So now everything is covered.

NIIIICE! I was a little vague on my USAA policy. Thanks for clearing it up!

Mike

cudakidd
02-15-2009, 4:15 PM
NRA has supplemental firearm coverage available. With the same competitive rates. No serial numbers or appraisals required! Any single firearm covered with a value over $1000 they want make and description only...I've had it for years...

Spyder
02-15-2009, 5:04 PM
I'd recommend calling Tuesday morning...as tomorrow most will likely be closed. :D

ysr_racer
02-15-2009, 5:10 PM
Same thing goes for cameras, laptops, jewelry...

Call on Tuesday and ask your agent.

Echidin
02-15-2009, 10:46 PM
Thanks for the heads up.



+1

I'm with State Farm and am going to inquire about how much they are willing to cover.

B.D.Dubloon
02-15-2009, 10:48 PM
Doesn't the NRA cover them with a basic membership?

50BMGBOB
02-15-2009, 11:51 PM
Only a little, if you want more coverage it cost.

CSDGuy
02-16-2009, 1:42 AM
Should the value of my (currently) small collection exceed the amount I'm covered for under my current policy, I will purchase a rider for whatever I need above and beyond that.

It's always a good idea to check your Homeowner's Policy for the limits though...

Mute
02-16-2009, 10:05 AM
It's not just guns. Most high cost items will have a limit on pay off from the insurance unless it's specifically itemized, in which case, it may raise your premium or require a special rider for that item.

chrisdesoup
02-16-2009, 10:12 AM
HO-3 is the standard homeowners policy but the same special limits of liability apply to renters (HO-4) and condos (HO-6)... here is a link that will give you all the info you need before you call your agent.

http://server.iii.org/yy_obj_data/binary/748905_1_0/HO3_sample.pdf

Bottom of page 3 and the top of page four identify specific items that have limited coverage the OP was talking about.

Your agent should set up a time to go over your policy with you, in all honesty your agent should have asked you about firearms, jewelry, and other limited coverage items at the time your policy was written..... Remember, you are paying a commission to your agent every 6 or 12 months! If he/she is not providing the level of service you require you need to shop around. You do not need to leave allstate or state farm (whoever) to change agents... when you find a new agent within the same company just let them know you would like to change agents and they should take care of the rest.

You can also go onto www.insurance.ca.gov and check them out to make sure they have a valid license and they have no disciplinary problems.

Good Luck and I hope I was able to help!

megavolt121
02-16-2009, 10:49 AM
State Farm's Renter's insurance covers $10k.

Take pictures and document serial numbers and email them to yourself via a free ONLINE BASED email service such as Gmail. It does no good to have a CD of your firearms in your house if your house burns down or the CDs are stolen. Rely on google's millions they spend on server to protect your data :)

BigDogatPlay
02-16-2009, 12:24 PM
You may also consider keeping your inventory and accompanying photos spreadsheeted and stored on a small USB thumb drive, rather than having a zip file sitting out on someone's mail server. I have one in my desk drawer at work and another goes with me everywhere my laptop/briefcase goes. I have seperate sheets in the inventory Excel workbook for cameras, computers, etc. etc. All with photos.

We recently switched carriers for our homeowners to Liberty Mutual as I have a long standing life policy with them that gave us a very attractive rate. The sum total of my small collection isn't $10K but I've got a rider for specifically that amount. If you have collectible pieces that are high dollar value individually and want to cover them at value then appraisals will be demanded.

freakshow10mm
02-16-2009, 12:28 PM
State Farm in my area automatically covers $2,500 in firearms. You can go higher but not lower.

grammaton76
02-16-2009, 1:19 PM
BTW - I have a personal policy of taking out all my guns every March for pictures. Easy to remember, just do it around tax time every year.

You could also do video as an alternative, if you wanna be a bit lazy.

Sig556
02-16-2009, 9:54 PM
State Farm in my area automatically covers $2,500 in firearms. You can go higher but not lower.

$2500!!! That barely covers two guns!!!

freakshow10mm
02-16-2009, 10:27 PM
I can buy a buttload of guns for $2500.

I'm insured to $20,000 for personal firearms and $500,000 in business inventory.

I'm willing to bet most gun owners have less than $3,000 in guns. Figure a handgun, shotgun, rifle, .22 rifle is maybe $1500-2000 with scopes, etc. Most gun owners are not collectors.

There is a stark difference between someone who owns a few guns and someone deep in the gun culture.

cudakidd
02-17-2009, 7:46 AM
Most insurance policies cover collections under personal property limits and $2500 to $3500 seems to be the norm. For specific coverage above or for specific items to be covered they usually want more info. With Guns usually serial number, appraisal etc. The NRA supplemental was easier for me and cost about the same.

I had pics on digital, need to update yearly (since I seem to change the goodies with new goodies all the time too!)

truthseeker
02-17-2009, 7:55 AM
I guess I better call my insurance company.

I have one shotgun that would cost ~$8500 to replace. Not to mention the other firearms I have.

Thanks for posting this!

savageevo
02-17-2009, 8:01 AM
I wonder if U where to buy an umbrella insurance, if that would cover the cost of your guns. I am pretty sure the umbrella is worth 1 million in coverage. I need to ask. If any calgunners here is a insurance agent, speak out and try to get us a good plan.

ilbob
02-17-2009, 8:14 AM
other common things not covered, or with limited coverage.

jewelry
rare coins and bullion
art work
expensive electronics
silverware and china

if you want coverage for any valuables, it normally has to be on a rider.

ilbob
02-17-2009, 8:15 AM
I wonder if U where to buy an umbrella insurance, if that would cover the cost of your guns. I am pretty sure the umbrella is worth 1 million in coverage. I need to ask. If any calgunners here is a insurance agent, speak out and try to get us a good plan.

umbrella insurance is liability, not property insurance.

dfletcher
02-17-2009, 8:28 AM
Given the way home prices are falling and gun prices are rising, I'll bet there are a few folks who should take out insurance on their guns with a rider for the house. :wacko:

M1A Rifleman
02-17-2009, 12:16 PM
AAA's standard home policy does cover guns and jewlery to specific limits.

chrisdesoup
02-17-2009, 1:13 PM
AAA's standard home policy does cover guns and jewlery to specific limits.

ALL standard HO-3's cover firearms and jewelry to specific limits.. does not matter what company you are with.

Toolbox X
02-17-2009, 1:29 PM
ALL standard HO-3's cover firearms and jewelry to specific limits.. does not matter what company you are with.

Yes, but those limits are usually $1,000-$2,500. Many of us have firearm collections worth considerably more than that. If I was handed a $2,500 check for my entire collection I would cry until I died from dehydration.

Call your agent and make sure you know how much you are covered for.

rivviepop
02-17-2009, 6:54 PM
State Farm's Renter's insurance covers $10k.

Their base policy covers $5000 - you can get an additional $10K rider for about $150/yr added to your coverage to bring it up to $15K. The $10K rider requires items to be listed, however the base policy doesn't. To my knowledge only theft (not fire, etc.) is covered but I'd have to check on that to be sure.

FYI, Ameriprise covers up to $6000 for about $35 extra per year, no listing required. State Farm is cheaper and has better coverage, though, on the renter's policies.

Rob454
02-17-2009, 7:21 PM
Your guns are covered, it's just that there is a limit with a standard policy. This is normal. You simply need to buy additional coverage so have your receipts handy.

Yup true. I ended up covering my guns for 12 000$. the premium was a extra 12 $. I did a agreed upon value just like I did to my boat.
I dont have 12 000$ worth of guns but if they get stolen I get 12000$ for them

AmericasFirstFreedom
02-17-2009, 10:27 PM
As others have mentioned, "Arms Care," an NRA-endorsed insurance plan (http://www.locktonrisk.com/nrains/armscare.asp) is $1.77 per $100 of coverage, beyond the basic coverage of $1000 for firearms and accessories. You ARE an NRA member, right? ;)

Thanks to the OP for reminding all of us about the need for additional coverage!

devildog999
02-17-2009, 10:48 PM
Good to know, thanks for the info

odysseus
02-17-2009, 11:26 PM
This should NOT be a surprise to anyone. If you bought the home insurance policy and don't know what is covered and by how much, that is not good! Anyway, there are stated limits to general coverage (and something you can use to shop around for) for items like guns, jewelry, fine art, computers, etc. You should become acquainted with those figures and know how much you want in coverage. If you want more, you can by different types of policies and\or specific riders.

Buyer beware also means buyer READ and Understand.
.

lrdchivalry
02-18-2009, 8:48 AM
GEICO... $10,000 for my firearms, anything above that is extra and requires a detailed inventory.

Steve O
02-18-2009, 8:55 AM
yea that's like people assuming their fire insurance is going to cover them when their house burns down!

what2be
02-18-2009, 10:15 AM
I can buy a buttload of guns for $2500.

I'm insured to $20,000 for personal firearms and $500,000 in business inventory.

I'm willing to bet most gun owners have less than $3,000 in guns. Figure a handgun, shotgun, rifle, .22 rifle is maybe $1500-2000 with scopes, etc. Most gun owners are not collectors.

There is a stark difference between someone who owns a few guns and someone deep in the gun culture.

I dunno about that, I dont consider myself a gun nut or a collector, and I can tell you that my .416 alone with the bors and leupold cost me about $7k

Add the rec 7 with a aimpoint m4, the custom ar i built with a schmidt&bender scope, my ed brown .45, my DE in 50, a HK45, a XDM, a Sig , a Five-seven, and a Ruger Vaquero in .45colt, and a few other handguns, as well as my ED brown a5 tactical in 300 winmag, with a nightforce scope (almost 7k), a benilli m4, a FN SLP 12 ga, and a few other rifles, and I think i could hit 40-50k pretty easy. And I consider myself about average compared to my friends. Im only on my second safe, some of my friends are on 3 or 4.

Toolbox X
02-18-2009, 10:21 AM
I dunno about that, I dont consider myself a gun nut or a collector, and I can tell you that my .416 alone with the bors and leupold cost me about $7k

Add the rec 7 with a aimpoint m4, the custom ar i built with a schmidt&bender scope, my ed brown .45, my DE in 50, a HK45, a XDM, a Sig , a Five-seven, and a Ruger Vaquero in .45colt, and a few other handguns, as well as my ED brown a5 tactical in 300 winmag, with a nightforce scope (almost 7k), a benilli m4, a FN SLP 12 ga, and a few other rifles, and I think i could hit 40-50k pretty easy. And I consider myself about average compared to my friends. Im only on my second safe, some of my friends are on 3 or 4.

I know who's house I'm going to rob next :43:

what2be
02-18-2009, 10:22 AM
Just a FYI, i just switched my insurance from Mercury to Allied.

Allied will cover ALL your firearms, no limit, and dosen't require a appraisal.
My agent did tell me that it would be wise to have everything documented as well as video taped in the event of a loss.

The policy was the SAME price as my homeowners with mercury. Unfortunately, the auto portion was $200 higher, but still cheaper than if I would have stayed with Mercury and got a rider on the guns. I already have a rider on my wifes ring and it makes me mad I have to have one for that. The whole insurance thing is a ripoff. Did you know that on jewelry, they dont pay you cash for your loss? they replace it with something of "similiar value". Ask your agent about jewelry riders. You will be suprised. I had to go pay $200 for a appraisal, then I find out that on top of the additional $500 a year for the ring, if something happens to it, they just replace it with something they pick out. what a joke.

Another ripoff is computer coverage. Its $1,500 for me, which is a insult. Im sure if you check your policy it will be similar for you as well. I work with computers as a living, and can tell you one of the machines in my house has a $600 video card in it. Hell, the processor alone cost $1k. My wife has a iMac, we paid $2,900 for it. So none of those things are covered.

In the end, I just decided you cant keep throwing good money after bad, so I dont insure my computers, my art, or my wifes RZR or my quad. I just have to keep a better eye on them to make sure they dont get stolen.

Toolbox X
02-18-2009, 10:31 AM
Keep in mind that homeowners insurance is intended to protect your HOME, as in house. Not every little thing in your home. Anything you have that is valuable and you want insured you need to get separate coverage for.

what2be
02-18-2009, 10:38 AM
Keep in mind that homeowners insurance is intended to protect your HOME, as in house. Not every little thing in your home. Anything you have that is valuable and you want insured you need to get separate coverage for.

Yeah, but how often do you hear about a house being stolen? unless yours came on wheels, probably not gonna get stolen.

So that leaves fire, which is completely seperate from theft, as fire covers things theft doesent, and even then, I bet 90% of people are UNDER insured for fire with their homeowners policy. My friend who is a contractor just found this out, as one of his rentals burned down, and he said he MIGHT be able to rebuild it for what the insurance company is offering, IF he didnt charge for his labor.

Heres a simple exercise, find out how much fire insurance you have, then divide that by the square footage of your house. Now call a local contractor and see how much it would cost to rebuild your house per square foot (approx). I bet you money the insurance wont cover it.
Then take the property value of your policy and then add up all the things in your house. Im sure that wont match either, but it may.

What a joke that is. I started asking my agent about my fire coverage and realized im under insured as well. its a scam, i tell ya.

ETD1010
02-18-2009, 7:35 PM
i actually have $5,000 coverage in firearms in the event of theft, fire, etc, etc. I made sure it was on there... However, at this point, i have more than 5k worth of guns, so i should change that. . .

evollep3
04-02-2009, 1:36 AM
yea many HO Policies needs additional guns to be endorsed just like cars all they big time ballers putting all their money in their car when most insurance companies only cover up to a $100 and every hundred of additional is about $3 a month extra its a rip off

Futurecollector
04-02-2009, 3:45 AM
I can buy a buttload of guns for $2500.

I'm insured to $20,000 for personal firearms and $500,000 in business inventory.

I'm willing to bet most gun owners have less than $3,000 in guns. Figure a handgun, shotgun, rifle, .22 rifle is maybe $1500-2000 with scopes, etc. Most gun owners are not collectors.

There is a stark difference between someone who owns a few guns and someone deep in the gun culture.

$3,000 In ammo maybe lol

gobears1997
04-02-2009, 9:35 AM
The sublimit on your standard HO3, HO4, HO5, or HO6 covers firearms up to the full limit of your personal property limit for all perils OTHER THAN theft. If you lose your firearms in a fire, tornado etc. you are good to go. The reduced limit only applies to theft. If your collection exceeds the sublimit your best bet is to schedule the items on your homeowners policy (rider). This will cover the theft and other perils not normally covered like "mysterious disappearance" (I lost it) or accidental breakage.:thumbsup:

Sheepdog1968
07-02-2009, 10:46 AM
Our Allstate homeowner's policy only covered $2000. I had to add the rider.

My Allstate policy had the same low limit. It became very expense to add a rider I don't remember the number but did have a long discussion at my agent's office to work through the numbers. I found an add in Shotgun News (will update when I have it in front of me) for a company that would insure me. It was something like $75 a year for $10,000 coverage.

Sheepdog1968
07-02-2009, 10:50 AM
I wonder if U where to buy an umbrella insurance, if that would cover the cost of your guns. I am pretty sure the umbrella is worth 1 million in coverage. I need to ask. If any calgunners here is a insurance agent, speak out and try to get us a good plan.

Asked my Allstate agent about the umbrella I have and it doesn't help for guns.

Ahhnother8
07-02-2009, 5:57 PM
NRA insurance may be the best offer out there. Up to $2,000 or $3,000 per firearm, and NO requirement for a list of serial numbers. Values over that requires an appraisal, but that is all. Total cost is based upon a percentage of the overall coverage desired. They also provided coverage on a trip to South Africa for no additional charge.

You think homeowners insurance coverage is poor, check the limits on lost firearms (checked luggage) by airlines, particularly for international flights.

tenpercentfirearms
07-02-2009, 6:06 PM
I don't own any guns so why do I need insurance on them? :TFH:

thempopresense
07-02-2009, 6:26 PM
I had to get a rider for mine too, probably about time to re-evaluate my collection and maybe up it.

spegull03
07-02-2009, 10:38 PM
The sublimit on your standard HO3, HO4, HO5, or HO6 covers firearms up to the full limit of your personal property limit for all perils OTHER THAN theft. If you lose your firearms in a fire, tornado etc. you are good to go. The reduced limit only applies to theft. If your collection exceeds the sublimit your best bet is to schedule the items on your homeowners policy (rider). This will cover the theft and other perils not normally covered like "mysterious disappearance" (I lost it) or accidental breakage.:thumbsup:

correct, plus the sub-limit and covered perils will vary between insurance companies.

Bottom line, read your policy or ask your agent for help since thats what you pay for:)