Gun insurance

[Spaceghost]

Just because one type of property is not covered by your personal articles policy doesn't mean the same type is excluded from your homeowners. Yes, ammo is specifically excluded from your firearms policy and ineligible for coverage in THAT policy.

However, your homeowners policy covers ALL types of personal property with few limitations on classes of propery. Firearms, as I mentioned is one of the types of property that has set limitations in your home/condo/renters policy and the reason you need the stand alone policy for firearms over 5k. Ammo falls under personal property in the general homeowners policy and is covered in the event of fire/theft.

So I think that's a negative.

As was explained to me by my agent, the rider specifically raises the limit of the classification allowance, which would normally be capped at 5k for sporting equipment. It's a scheduled policy, so every firearm and component is detailed in a spreadsheet with valuations that I have to submit to their underwriters.

This was the cheapest and most reliable insurance I could find for collections of my size. But, the rider also imposes a blanket disallowing of claims for ammunition, depending on the peril in question. In their eyes, ammo is consumable and subject to spoilage (for which they may have a separate rider, I didn't check), but also ripe for fraud given how hard it is to track, and the policy being upcapped. Optics would be under the same sporting equipment classification as there is no category just for firearms, again according to my agent - who could be wrong.

For me, this policy is adequate as I have limited space to store ammunition and only keep a few thousand rounds on hand, anyway. The financial cost to replace that stock would be bearable, which would only come about from theft as other perils are covered and would reimburse, probably at some fraction of the ammo's value.

I'll have to go and check back with my agent to see if I could make a claim under the general coverage for ammo theft, but I believe the rider forecloses that. Reloading equipment was not in question and would be covered.

[Scout2Diesel]

If you are really keeping your eye on the ball in this game...

You will purchase all of you firearm collection with your descretionary income. Most likely you could replace it with your future descretionary income. It makes huge sense to insure your earnings and assets as they increase with your age and skillset.

If you do not have adequate liability including legal defense at multiple levels above your income and assets. Think about that. It's very inexpensive and easy to get...until the dog bites.

Safes, Alarms, Cameras, comprehensive personal liability, excess umbrella liability, contents coverage, personal article floaters (and having a gun handy) are all good policies.

Also you probably have (or will have) people in your life who are dependent on your resources.

Insuring your income (life insurance) for the love of them should be given your highest priority.

I have seen lives change forever with turn of a key and the break of a trigger. These risks have been my business for over 35 years.

... and we like playing with fire.

[GammaRei]

Farmers has a great policy. If you want I can send you the information for my agent, he and his wife run their operation. Both really pro gun, nice people.

- G

[Bull Elk]

My firearms have been insured by Statefarm for over 30 years. I supplement that insurance with NRA insurance.

[NorCalFocus]

[swruger]

I have been getting quotes and the NRA quote is pretty much double that of Core Vens, Eastern, and Collect Insure. Interesting