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Started By
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re: Home owners covering firearms?
Posted on 4/1/14 at 8:13 pm to TigerTatorTots
Posted on 4/1/14 at 8:13 pm to TigerTatorTots
Call your agent and have them schedule each gun individually. Limits are different on each policy but if you have a few guns it's worth it.
1
Posted on 4/1/14 at 8:42 pm to RebelExpress38
quote:
Call your agent and have them schedule each gun individually. Limits are different on each policy but if you have a few guns it's worth it.
This is one way to do it but not really the best way. 1) You really do not want to have claims on your homeowner's insurance 2) Guns and jewelry seem to have high odds of getting broken, lost, stolen, etc. 3) You will properly pay more for scheduling it under your homeowners than you will on a stand alone policy by a company that handles mainly guns.
Separate policy is best, read the link for the other thread...
Posted on 4/1/14 at 8:54 pm to wickowick
I looked into an inland marine policy last month WAAAY too expensive. If ya'l have a better way I'll look into it, have two guns very valuable to me and in real value, plus lots of other guns. Sucks it's so hard to get good coverage for them.
Posted on 4/1/14 at 8:59 pm to Da Hammer
From the first post in my old thread...
ETA: That price is a couple of years old, premiums might have gone up a little since then...
quote:
I know a number of you on the board have gun collections. If you are not aware, your homeowner's insurance will have a limit on coverage, most policies have a limit between $1k & $2500 in coverage. There are a few companies that offer additional insurance besides the ability to add additional coverage through your homeowner's insurance. NRA offers coverage to its members. I recently added coverage through Eastern Insurance (due to recommendations on another board.)
They specialize in firearms, offer worldwide all risk protection. The minimum yearly premium is $125 and covers up to $35k in firearms. In addition no appraisals are needed on the guns unless a gun is valued over $10k. Because I live in a flood zone flood coverage is excluded from the policy.
I know there are a couple of other insurance guys on here that can probably provide additional sources of coverage. I just want everyone to be aware that if you have a number of guns your coverage is limited through your homeowner's policy.
ETA: That price is a couple of years old, premiums might have gone up a little since then...
This post was edited on 4/1/14 at 9:15 pm
Posted on 4/1/14 at 9:25 pm to FelicianaTigerfan
quote:
Can't tell you how many burglaries I've worked where homeowners paid little to nothing for firearms worth 10x what was paid out. I specifically remember a Rem 742 with scope that had been handed down. Since it was old they paid like 32 dollars for it
Had a house fire where father in law gave son in law a Mauser African so he could practice shooting. Father in law passed away. They had no idea.
Posted on 4/1/14 at 9:48 pm to wickowick
I just browsed through the policy that NRA offers through ArmsCare and it looks like a solid policy. Not sure how premiums are. It's underwritten by Lloyds of London. I'd get a quote through them.
Theft is the only peril you need protection for. Your HO policy covers them for their full value (up to your personal property limits) in the event of any loss except theft. Consider the cost of the additional insurance, versus the cost of a big, badass safe. See how many years it takes you to break even.
Theft is the only peril you need protection for. Your HO policy covers them for their full value (up to your personal property limits) in the event of any loss except theft. Consider the cost of the additional insurance, versus the cost of a big, badass safe. See how many years it takes you to break even.
Posted on 4/1/14 at 10:03 pm to Slickback
quote:
Your HO policy covers them for their full value (up to your personal property limits) in the event of any loss except theft.
True, but contents are also a named peril and limited in coverage. I would much rather have an all risk policy on them...
Posted on 4/1/14 at 10:08 pm to wickowick
True that. Best advice for someone is for them to read their policy.
HO5s do and a lot of companies are adding all perils to contents on HO3s to.
HO5s do and a lot of companies are adding all perils to contents on HO3s to.
Posted on 4/2/14 at 3:18 am to TigerTatorTots
With State Farm there's a max price at which they'll replace firearms. In 2008 it was $2500. All of my guns are now insured individually through the homeowners policy. Well... Most
Posted on 4/2/14 at 6:10 am to LouisianaChessie
I just submitted a request for quote through Eastern Insurance Co. I'll update the board when I get it back. Thanks for all the comments and link to the former thread on this.
Posted on 4/2/14 at 6:54 am to TigerTatorTots
State Farm covered mine until I got my gun safe.
Not expensive.
It was called a sports something policy.
Not expensive.
It was called a sports something policy.
Posted on 4/2/14 at 6:58 am to LouisianaChessie
Personal article floater used for jewelry, guns, musical instruments, art, etc.
Posted on 4/2/14 at 7:01 am to CaptainsWafer
quote:
Personal article floater used for jewelry, guns, musical instruments, art, etc.
Posted on 4/2/14 at 1:17 pm to Da Hammer
Keep me posted on that Hammer.
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