I'd like to get more insurance for my firearms

[high_revs]

So I have rental's insurance right now. I'm covered up to a certain amount. the problem is, I'm way pass that amount. My insurance agent said either you have your receipts or you get them appraised.

However, most of my stuff are ARs, in which receipts for parts are all over the place. i.e. I may have gotten 3 LPKs here, a red-dot there, mags here, etc. I guess I can put an excel sheet and list out all the parts (have that already) and map them out to a receipt. The alternative is to have them appraised. The pistols are easy, so are some of my rifles that I purchased as a whole.

Which route have some of y'all gone? I don't know how much appraisal will cost but it does seem easier.

P.S. My insurance agent asked if I had a safe. I said yes. He said what's the problem? I'm like... LOL... worse case scenario? You don't want my money?

[RedFord150]

NRA members get $1K of insurance as a benefit. They can buy additional coverage for a very modest premium. I think Renters are eligible, same as homeowners.
NRA Membership is about $35 per year.
Good luck.

[paul0660]

You might try asking "your agent" (he is really the companies agent) if another company has a higher unappraised limit.

[high_revs]

I guess I need to rephrase my question as the answers don't answer it (imho). I'm not concerned about the amount of coverage as I am about proving those amounts.

Receipts and a detailed breakdown where parts went (especially for us AR builders)?

Or appraisal from a gun store?

If the latter, does anyone have experience getting things appraised from a gun store or is it like "this is what we charged for this part so we'll mark it as that."

[cudakidd]

NRA policy is a "stated value" policy. You pay for the dollar amount of coverage. No serial numbers or appraisal required. Discriptions of firearms only if individual value over $1000 (and I believe that has been raised)

[SDI]

http://www.locktonrisk.com/nrains/ArmsCarePlus.htm

[gunn]

According to the NRA FAQ, you also get the $1K coverage with the associates membership

https://www.nramemberservices.org/faq.asp

For the coverage, it's $1.74 per $100 or $17.40 per $1000 of coverage.

If you had $10K worth of guns and NONE are more than $2500, that's not a bad deal for $174/yr.

You may also want to investigate what insurance carriers offer. According to my broker, SAFECO does NOT have a total value limit on the gun coverage (some are limited to $2500 or $5K). As far as they are concerned, it's just another piece of personal property.

Q: What comes with my Membership in the NRA?
A: As a member you will receive:
* NRA's black and gold shooter's cap or another gift depending on the promotion.
* Your choice of NRA magazines: America's 1st Freedom, American Rifleman or American Hunter
* A personalized membership card
* An NRA member decal
* $10,000 for Life Members and $5,000 Annual Members in Hunter's Accident (A,D, & D) insurance
* $1,000 in Firearms Theft Insurance
* Discounts on car rentals and interstate moves and, if you meet credit criteria, an NRA VISA card.

Q: What is the difference between Regular and Associate Memberships?
A: Associate Membership has all the benefits of Regular Membership except Associate Members do not receive a magazine, cannot participate in NRA elections, and cannot hold office within the NRA.

[duckman1]

Not all of the insurance companies require an appraisal. My company offers a valued policy ( I get paid the value I insured them). I did not provide an appraisal only a description, serial numbers, and value.

For AR style weapons, if you configure them differently, I would use the excel spreadsheet type of approach. Assigning a value for each componet.

[Mute]

Check the NRA's policy and ask your current insurer for a rider for the firearms and compare.

[rimfire78]

My friend just purchased $8000.00 of insurance through the NRA for roughly $140.00
No serial numbers or descriptions required.

[high_revs]

rimfire, is that per year or monthly? or semi-annual?

[Operator]

I'm an insurance agent in the central valley, and I was worried about the same thing. There is a policy called a "Personal Articles Floater" On this policy you can add just about anything you want to have covered specifically, for Stated Amount, all i needed was make model and serial number.

Why I love this policy is because I can also add things like, mine and My wife's Iphone, cover them for just about anything, even saw a claim where some one dumped their phone in water and got it covered, the called it vandalism... so I cover 2 iphones and a laptop and 3,500 of my guns for $70.00 per year. No receipts, or appraisals required. In fact, I cover a lot of farmers with Gun collections and the only time I have seen appraisals needed is when single gun value is over 5,000.

If anyone is interested in more detail PM me and I will let you know what company it is that sells this policy.

[rimfire78]

rimfire, is that per year or monthly? or semi-annual?

Annually.

[sd_shooter]

That's a lot of money. The likelihood of losing your guns is actually relatively low, I think you'd be better of creating a bank account (or investment account) and putting the money into savings.

[rimfire78]

Well let's see, lose 8k worth of property or spend $140.00?
I appreciate what you're saying, and I agree that it'd be better to keep your money, but unless you've got enough put away to cover that kind of loss.....and even then, now you're kind of out 16k if you use your own money to replace the arms. Bad deal.