Firearm insurance

[RandyRhoads]

Reading through the insurance policy on my new home it appears they only cover up to $1,000.00 per firearm.

I only have one over $1,000.00 (over $3,000.00, and rising)


Is there any sort of cheap firearm insurance? If it even exists would it even be worth it to protect one firearm, or would the costs quickly outweigh the benefit?

I've found out the hard way things not covered under insurance reaaaally sting when lost. Although it's just one thing, i'd rather have it covered, unless it's going to cost more.

Suggestions?

[Aldemar]

See if you can get a rider to cover stated values. You will probably have to provide photos & serial numbers though.

[RandyRhoads]

See if you can get a rider to cover stated values. You will probably have to provide photos & serial numbers though.

Go find some biker and ask them to cover me? I don't know what you mean haha...perfectly willing to back it all up with SN, pictures and receipts...

[Aldemar]

Go find some biker and ask them to cover me? I don't know what you mean haha...perfectly willing to back it all up with SN, pictures and receipts...

Actually, having a few of those types around would probably reduce the possibility of someone else ripping you off, not too sure about an inside job however

In all seriousness, then go with your homeowners policy if they offer stated value coverage. The only ones I haven't insured are some firearms I purchased from private parties prior to 1990. None of anyone's business; I'll take that risk.

[RandyRhoads]

Actually, having a few of those types around would probably reduce the possibility of someone else ripping you off, not too sure about an inside job however

In all seriousness, then go with your homeowners policy if they offer stated value coverage. The only ones I haven't insured are some firearms I purchased from private parties prior to 1990. None of anyone's business; I'll take that risk.

Go with the only 1k worth of insurance on a rifle over 3k that will be a more when i'm done?

It didn't sound like proving ownership and value prior to loss changed anything as far as upping the coverage, but I can ask again.

[Picturepro]

My state farm agent want a list and serial number. I'm kind of leery of that
its bad enough all have to be registered. What if some thief works at the Insurance company and tells their friends hit his house he has.....

What if someday all arms are illegal and we have to surrender our arms?
like Australia and China

[AragornElessar86]

A rider is like an upgrade to your standard policy. You pay a little more money, and the insurance company gives you specific coverage.

[RandyRhoads]

My state farm agent want a list and serial number. I'm kind of leery of that
its bad enough all have to be registered. What if some thief works at the Insurance company and tells their friends hit his house he has.....

What if someday all arms are illegal and we have to surrender our arms?
like Australia and China

I think that's a little more worried than i'd be. They're already registered with DOJ so you think the insurance company is going to be worse? As far as a thief, what's the difference between your firearm, or a piece of jewelry that costs thousands? List it for coverage, or don't. I'd rather list it.

A rider is like an upgrade to your standard policy. You pay a little more money, and the insurance company gives you specific coverage.

Ah thanks for the information. New to insurance stuff, unfortunately it took me the hard way of getting me to pay attention.

I mentioned doing that to my agent and he kind of shrugged it off. I'll try again with him, then go check out a company another user PMd me.

[postal]

Read your policy again.

Many of them only cover up to $2k or 2.5k total in guns....

Mine are all on a 'valuable personal property' policy. Which covers theft, fire, accidental loss or accidental damage.

[Aldemar]

My state farm agent want a list and serial number. I'm kind of leery of that
its bad enough all have to be registered. What if some thief works at the Insurance company and tells their friends hit his house he has.....

What if someday all arms are illegal and we have to surrender our arms?
like Australia and China

That's why I'm not covering my pre 1990 face-to-face stuff. No governmental agencies are aware of them and I don't want them on record anywhere. The newer handguns that were reported to the DOJ you can't hide unless you have a tragic boating accident.

[RandyRhoads]

That's why I'm not covering my pre 1990 face-to-face stuff. No governmental agencies are aware of them and I don't want them on record anywhere. The newer handguns that were reported to the DOJ you can't hide unless you have a tragic boating accident.

Which brings up another question. Are you legally required to report firearms destroyed? I lost a bunch of guns in a fire, so if they came looking for them now what? Is it like theft, you must report them destroyed? What's to stop someone from saying a firearm was destroyed somehow if a gun grabber came looking for them?


I'll go over my policy again but pretty sure it's 1k per firearm max with no total.

[ke6guj]

If you are an NRA member, you get another $2500? in insurance just by being a member. you might have to activate it so don't just throw away the NRA junk mail. and you can purchase more through them.

I went with Collectable Insurance and their rates are reasonable (something like $125/year for $25k coverage) and you don't have to send them your serial numbers. but you should keep a log with everything so that you can report it if there is a claim. Historic is another company offering competitve options.

[chuckdc]

If you are an NRA member, you get another $2500? in insurance just by being a member. you might have to activate it so don't just throw away the NRA junk mail. and you can purchase more through them.

I went with Collectable Insurance and their rates are reasonable (something like $125/year for $25k coverage) and you don't have to send them your serial numbers. but you should keep a log with everything so that you can report it if there is a claim. Historic is another company offering competitve options.

You ABSOLUTELY HAVE to activate it, or it's not in effect. The NRA insurance covers whatever is not covered by other insurance, and it is indexed to the cost of the gun. So, if you bought a gun last year for 400 bucks, and this year it's now worth 800.. they will pay the 800. The free insurance covers up to 2500 or so, but they have upgrades available for purchase to increase your coverage. It's definitely worth the phone call it takes to activate the free version. Effectively "free money" if something happens.

[Sizzlechest]

Reading through the insurance policy on my new home it appears they only cover up to $1,000.00 per firearm.

I only have one over $1,000.00 (over $3,000.00, and rising)


Is there any sort of cheap firearm insurance? If it even exists would it even be worth it to protect one firearm, or would the costs quickly outweigh the benefit?

I've found out the hard way things not covered under insurance reaaaally sting when lost. Although it's just one thing, i'd rather have it covered, unless it's going to cost more.

Suggestions?

There is a max limit on the home policy and it's on an actual cash value and don't forget you have a deductible as well. So if you have a $1000 ded. And they take your 1000 gun then it's a wash. Call your agent and add them as scheduled. Some companies will allow a blanket coverage as well. Its not expensive and most companies offer a zero deductible. I'm in the business so I might be able to give you some pointers. With blanket coverage you don't have to give the serial numbers. There are ways around it depending on the company. You would be better served calling an independent agent who has access to multiple insurers vs one product that fits all.

[RandyRhoads]

There is a max limit on the home policy and it's on an actual cash value and don't forget you have a deductible as well. So if you have a $1000 ded. And they take your 1000 gun then it's a wash. Call your agent and add them as scheduled. Some companies will allow a blanket coverage as well. Its not expensive and most companies offer a zero deductible. I'm in the business so I might be able to give you some pointers. With blanket coverage you don't have to give the serial numbers. There are ways around it depending on the company. You would be better served calling an independent agent who has access to multiple insurers vs one product that fits all.

Are you a private adjuster?



Unless my rifle spontaneously combusts by itself in the corner, the deductible probably wont be much compared to the total loss. Well maybe. I own like 4 things now, so the deductible might be a good percentage. But I don't think I have to worry about the max contents payout any time soon. But I don't know, i'll go pull out my policy again tomorrow and give it a look.