Value of SSE Fireamrs?

[SnipeShot]

I have several SSE firearms and am trying to figure out how to put a value on them for my insurance policy. I know what they go for on the national market but not sure how to value them on the state level since technically after the end of 2014 I would not be able to purchase them legally in CA again.

[Deadon]

I would wait for the new year. I see these markups in the for sale section and you can still buy them new. Yet guys are thinking the guns are gold already.. BTW it's worth what someone else is willing to pay.

[SnipeShot]

Sounds good to me, I want to give a fair value and not some astronomical value. The main reason I ask is I have been uploading pictures of the firearms to my insurance company and wanted to evaluate the price while I was making changes to the policy.

[L84CABO]

I'm just thinking out loud here...It occurs to me that your insurance company may look at things like this...

Let's say gun A costs $500 in a free state

But it will cost $1000 here in California in Jan 2015

So you value it at $1000 for insurance purposes

Your gun gets stolen and now you try to make the claim for $1000

Will your insurance company honor this? Or are they going to get out their big insurance book on guns that tells them the normal price for Gun A is $500. And then it's, "I'm sorry we can only pay you $500 for this gun."

And I could be wrong on this but insurance companies aren't known for being particularly generous with their payouts.

Also, are you providing them an itemized list of each gun and what each gun is valued at? Or are you just providing a lump sum total?

I would think you would have a stronger case if it were the former. Of course, that would require you to be a lot more specific about what you have and I realize that many gun owners don't like to do that.

[neouser]

It's worth whatever is on the receipt. If you file a claim that's not the MSRP, that's what the insurance company will need as proof of the value. Even though you can't replace it, they still value it at replacement cost and that's what they're going to pay you.

[SnipeShot]

It is an itemized list of each firearm I own with an individual value for each one.

[HonkingAntelope]

Most likely you'd have to go with the value as of 31 Dec 2014 if PPTs are a no-go after 1/1/2015

[ARDude]

So then, my classic Chevy or Ford muscle car from the '60's in primo condition that I paid $2000 for back then is still only worth $2000?

[toby]

I highly doubt that they will take California ownership costs into consideration.

[ARDude]

But then again, insurance companies won't consider black market values on anything. Jan 1 sse firearms become black market items.

[keenkeen]

But then again, insurance companies won't consider black market values on anything. Jan 1 sse firearms become black market items.

Uh yeah...no they don't.

[erik_26]

It is only worth what it would cost to replace by the insurance.

If the insurance company could buy one for $500 in any other state and $10k in California. It is only worth $500.

Sure, you may not be able to replace it in California. But if you move, you could take the $500 they paid out and buy a new one then.

[ARDude]

Uh yeah...no they don't.

Ok, technically it's not, but it will be generating black market style prices.

[keenkeen]

Ok, technically it's not, but it will be generating black market style prices.

Or "collectable" style prices...and I think insurance companies deal with that every day.

Make sure you read your coverage and choose the correct options for your situation.

[Escobar]

once it leaves the lot.....