Firearm Insurance Is serial number required?

[Romulan]

http://www.calguns.net/calgunforum/archive/index.php/t-754316.html

There are millions of gun owners that have purchased insurance with StateFarm without providing their serial numbers. It's correct to say that your "Underwriting Guideline... When writing a gun under Sporting Equipment in a PAP" does not mention serial numbers are required.

Please forward this email to her or ask her to call me.

Thanks
Ken

See email threads below...

Hi Ken,



I cannot write the policy without the serial numbers on the purchase receipts for the guns. It is State Farm underwriting guidelines; I called yesterday to verify and this is especially necessary because of the assault rifles.

No, I cannot submit the application prior to having the documentation I requested. Those items are necessary for the underwriting process.

Best,

Alicia


_____________________________________________
From: Pamela
Sent: Tuesday, December 06, 2016 1:48 PM
To: Alicia xxx@statefarm.com

[smoothy8500]

It's annoying when I get car insurance since the VIN number is so long and has letters mixed in....Some insurance companies don't require serial numbers, but others may. NRA insurance doesn't.

[fiddletown]

Whether the serial number is required is really up to the carrier. Some apparently don't require it, and others do. And by the way, it's not a Second Amendment issue. The Constitution regulates government and not the conduct of private parties.

I can understand an insurer requiring a serial number. It is the most precise way to identify the object insured. I have scheduled insurance for a number if "high ticket" items, and the schedule includes both a detailed description of the item and the item's serial number. My car insurance includes the VIN of the car.

My guns are insured through Sportsman's Insurance Agency, and the schedule includes the serial numbers of the guns.

[ke6guj]

I've got insurance through Collectibles Insurance, https://collectinsure.com/ , and only a stated value of the collection is required, no serial numbers.

[Franklincollector]

^ cheers to this. Good company.

[L84CABO]

This amused me...

This is a 2nd Amendment Right and the GuideLine writers are following the laws by not requiring serial numbers.

There is no Constitutional right for serial number free gun insurance.

+1 on Collect Insure. Great rates and no serial number required. Very easy to work with.

[Merc1138]

Hi Alicia,

It appears that the “printed” in the Underwriting Guideline. When writing a gun under Sporting Equipment in a PAP" does not mention serial numbers are required. This is a 2nd Amendment Right and the GuideLine writers are following the laws by not requiring serial numbers.

1. Insurance is not a 2a right, or even a right at all. It is not a constitutional issue.

2. It is not against the law for a private insurer to require serial numbers.

If your insurance company knows this, do not be surprised if your rates go up due to a note on your customer profile about you making up nonsense and being just a tad inconsiderate to their staff.

[Sam Hainn]

Whether the serial number is required is really up to the carrier. Some apparently don't require it, and others do. And by the way, it's not a Second Amendment issue. The Constitution regulates government and not the conduct of private parties.

Sort of. It's partly that, but more of it depends on how the coverage is written and how the company is filed with the state for their policy forms.

State Farm includes up to a certain minimum value on your Homeowners coverage that, while not much, does not require ANY information about your guns being kept on file. For the most part? State Farm's rates suck and they are a waste of time. They'll underwrite it wrong and handle the claim wrong.

While I like State Farm, and they are great on claims handling for other things, you don't want to leave the handling of a claim on your valuable firearms up to someone that does not understand firearms.

Move up to a Personal Articles Floater, and higher limits can be included for "unscheduled" items or blanket limits, pendning you have other items scheduled. Such as if you had $1,500,000 in scheduled Fine Arts, and $2,000,000 in scheduled jewelry, and $300,000 in scheduled musical instruments, they will usually include up to $250,000 in unscheduled items that includes firearms - no questions asked.

But if you are short on much else and only want a Personal Article Floater for firearms, sure, they'll want it scheduled - usually including serial numbers.

When you have a Scheduled collection over a certain value, like with any collectibles or fine arts, the insurance company will usually require some key-item identification and something to corroborate values. An appraisal, invoices, receipts, etc.

Now if you go a notch higher, to someone that specializes in firearms, typically all they wish to know is make, model, year and leave the onus of proof of valuation up to you at Agreed Value at the time of loss; just be sure you have documentation to support it AT THE TIME OF LOSS. Meaning, document your collection, and store the information separate from your collection.

It also depends on HOW it's valued; Agreed Value will most certainly require explicit details of the above, especially for items that have an inherent value based on history, rarity, provenance, or unique/custom attributes.

Actual Cash Value and/or Replacement Cost Value, especially for modern or standard production guns, will often forego the above because you are getting recovery at the actual cash value at the time of the loss; or replaced with one in kind. i.e., your Glock 23 gets stolen? Easy to discern replacement; go to the store, buy new Glock 23, done; insurance company covers it (pending it's not an OLD gun, and they only give you the going rate for one in kind that is used/apply depreciation - but rare they do this on modern or common production guns. )

One of the top places that will give you a fair shake with good rates for everything you are hoping to get without providing serial numbers is this company here: https://www.easterninsurance.com/ins...toric-firearms

If I recall, they defer to either CHUBB or Lloyd's but they are about the best in the business because their people are fully invested in collecting and knowledge of firearms. Most everywhere else you are going to get posers.

Lastly; you and your 2nd Amendment can pound sand when it comes to insuring guns.

You would be surprised how many people working in insurance are entirely 2nd Amendment friendly, supportive of CCW, and gun owners themselves. It goes with the nature of managing risk I guess.

But when you then ask them to insure something of value, it's just another object, no different than a Chagall, 50 bottles of 1994 Opus One, a Mapplethorpe, Tang dynasty Chinese porn, a 1936 Bugatti Type 57SC Atlantic, one of the original Wizard of Oz sets of Ruby Slippers, or a 4ct blue diamond. Emotion, politics, rights, whatever don't mean a thing when you are asking them to reimburse something that got stolen, burned up, or damaged in a flood.

[71MUSTY]

I won't use any insurance company with "State" or "Farm" in their name.

[Romulan]

Excellent News.

I discovered Eastern Insurance Group.
I purchased coverage for $40,000 Unscheduled (meaning no serial number required) for annual premium of $150.

Contact Jack Richardson

Eastern Insurance Group LLC

933 Webster Street
Marshfield, MA 02050

Toll-free (800) 545-9326
Office (781) 968-8915

[depthcharge]

AAA insures mine only up to 2k without serial. Thats with home insurance.

[Drew Eckhardt]

AAA insures mine only up to 2k without serial. Thats with home insurance.

My $5000 total/$1000 per gun rider from Farmers required no serial numbers.

Going up from that they didn't need serial numbers, but did need estimates from a FFL (depreciated and replacement value) or receipts from the last three years.

[67Cuda]

AAA insures mine only up to 2k without serial. Thats with home insurance.

I just switched to AAA for all insurances.

They insure all of mine, no limit, no additional cost and no serial numbers needed.

[Mesa Defense]

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[Mesa Defense]

Firearm Insurance Is serial number required?

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