Insurance company, & coverage. Really ?

[Dano3467]

So needed to touch base with Ins company about other things, & while there, ask about this.

Many firearms on my policy have risen $$$ outlandishly over the yrs.

Off roster/& out of production even more so (we've all seen the WTS here).

So I ask to re-evaluate my policy, to replacement, over (the low ball) going price.

Yeah, like you'd expect, the answer was, you can have an out of state (direct) relative buy these for you (to replace), in the event of a robbery, or fire. WTH ! (I have none, you maybe like this also)

Ok, this state, or Ins. industry needs to be collectively sued by every gun owner, as their policy is hardly worth crap, would seem. Then there is a deductible, as a further insult. (face slap).

I feel so used. How does you policy stand in this quagmire (of legal rape)

[therealnickb]

Do you have your firearms listed individually on your policy?

[Dano3467]

Yes

[SharedShots]

So needed to touch base with Ins company about other things, & while there, ask about this.

Many firearms on my policy have risen $$$ outlandishly over the yrs.

Off roster/& out of production even more so (we've all seen the WTS here).

So I ask to re-evaluate my policy, to replacement, over (the low ball) going price.

Yeah, like you'd expect, the answer was, you can have an out of state (direct) relative buy these for you (to replace), in the event of a robbery, or fire. WTH ! (I have none, you maybe like this also)

Ok, this state, or Ins. industry needs to be collectively sued by every gun owner, as their policy is hardly worth crap, would seem. Then there is a deductible, as a further insult. (face slap).

I feel so used. How does you policy stand in this quagmire (of legal rape)

Next question to the Insurance Agent: Would you please send me a letter outlining what I must do for replacements if that time ever comes or please cite the policy requirement of your company?

[Dano3467]

Posted his answer above.

Use direct family, to buy them (family transfer thing)

But I told him, I have no free state family.


Really though with the way most CGNers are about money, this would of touched small a nerve with a few.

Maybe no one has Insurance, & I am alone on this ?

[floogy]

Posted his answer above.

Use direct family, to buy them (family transfer thing)

But I told him, I have no free state family.


Really though with the way most CGNers are about money, this would of touched small a nerve with a few.

Maybe no one has Insurance, & I am alone on this ?

Tell him that's a straw purchase under federal law and he really shouldn't be giving advice to break the law. It's not an option.

Sent from my SM-A716U using Tapatalk

[Dano3467]

^^^this^^^ will do.

[BAJ475]

Do you have your firearms listed individually on your policy?

Yes, with individual values for each.

[Dano3467]

No. Just told him (agent) that the price on many have reached 3-4 times the free state (face) values, for discontinued/off roster HG/rifles in CA.

Can't help but to feel I'm getting royally screwed here.

Is there better insurance available for proper coverage (real world value ?)

If so, Who ?

[norcalAF]

My insurance company allows me to set the value of each listed firearm at whatever I want. The value of my off roster stuff is so high that I will not be devastated in the event of a loss. My policy is a rider on my valuable personal property policy through USAA.

[Dirk Tungsten]

No. Just told him (agent) that the price on many have reached 3-4 times the free state (face) values, for discontinued/off roster HG/rifles in CA.

Can't help but to feel I'm getting royally screwed here.

Is there better insurance available for proper coverage (real world value ?)

If so, Who ?

Try Collectinsure.com . Lots of gun owners swear by them.

[The Gleam]

Check the valuation basis and if they are applying a co-insurance clause (the latter which can work against you depending on the percentage, regardless of the valuation basis.)

Your policy likely insures them at 'replacememt cost value' and not 'agreed value' - which in this case, the insurance company will be required to pay whatever it costs to replace them should unfortunate events arise that come to that, and you do in fact replace them - off-roster or not - but must do so within the law, whatever it will cost to replace them minus any deductible, and possibly after applying a co-insurance clause equation if applicable - the insurance company will need to foot that bill.

Now if they are insured at agreed value, and you have them underinsured at values too low to replace them, you're going to be stuck with that as the insurance company will not be required to pay more than the agreed values, should they be stolen/burn up in a fire, etc. - (unless they have also blanketed the agreed values, and are willing to apply the total-insured-value across any lesser number of guns out of the entire collection that were stolen or destroyed - which I doubt, but is possible/seen on many stand-alone articles-floater policies.)
---

[Dano3467]

^^^

[therealnickb]

Yes

[Dano3467]

Nope. Just replied how I could possibly replace them. Or take the loss.