Insurance company, & coverage. Really ?

[UCT]

If you have them scheduled at a certain stated value, as you apparently do, that's what you are going to get. The insurance company has no obligation to replace the firearms for you, and if you can't buy them any longer that is too bad. You will just have to buy something else.

If you don't have them on a stated value (just raised the limits higher than normal for firearms) most likely what will happen is they will pay you actual cash value (figured at market value minus depreciation) and tell you that after you replace the firearm they will pay you more (difference between replacement value and the actual cash value you already were paid). You don't have to buy the same make and model firearm, just spend what they determine the replacement value to be on another firearm.

[therealnickb]

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

[Dano3467]

Will talk to him tomorrow about this.

For now, trying to gather the CA prices on these, have most of them from older sources on CG, & market for a couple.

Thank you CG members for you help (insight) on this matter.

[therealnickb]

Appraisals go a long way. Maybe a lgs could write them all up at the same time inexpensively?

[Robotron2k84]

[L84CABO]

Who is your insurance company?

My policy (Collect Insur) is for replacement value up to the policy amount and not for depreciated value. Note, however, that I'm not entirely sure what happens when trying to replace off roster guns. Since SSE is no longer a thing, they would have to be replaced via PPT and those costs could be double what I initially paid for the guns. They may not care as long as the policy maximum isn't exceeded.

Note to that I don't own anything crazy like rare or custom pieces so I'm not trying to substantiate any crazy prices. I've got photos and receipts too.

Collect Insure and Eastern Insurance are the two big gun insurance companies most people use. So you may want to call and check with them on how they handle things for their policies. And you may find that they're cheaper than what you're currently paying (assuming you're not with one of them already).

[sbo80]

I'm not sure what the issue is. Insurance on firearms is optional. You pay for a policy you read and agreed to, which has reimbursement terms that have to be written in the terms. If you don't like the terms or the payout, find a new insurer or get a new policy. But like all kinds of these insurances, you want more back, you'll pay more in.

[mikeyr]

Its insurance, you will get money for the firearms and get to buy new and different ones. You can't get what you had replaced. But then again, I didn't bother to insure my firearms, they are in a high quality safe (not RSC) and I have a alarm system and loud dog. Along with retired home all day very nosy neighbors on both sides of my house.

I also could not replace a few of my firearms with today's laws that didn't exist when I bought them (I am old, been playing with firearms for many decades).

[ACfixer]

I'm not faced with the exact scenario being an ex-pat.. but insurance companies basically hate guns. BUT, if you have good credit, most insurance companies will add a stated value rider for not too much. Geico (Travelers) added $30K theft to my policy to include firearms and jewelry for about $100 a year. The agent didn't really want to talk guns, it just covered any theft that had limitations in the base policy.

They told me for expensive individual firearms beyond that, you should really contact a company like Heritage that does collector's insurance. Musical instruments, guns, watches etc...

And FWIW, the limitations in the base policy (in my case anyway) only applied to theft. Damage from fire and such, limitations don't apply except to the extend of what your policy will cover. The "contents" part of the policy.