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Started By
Message
Firearms Insurance, if you don't know there are limits under your Homeowner's
Posted on 9/27/12 at 9:23 am
Posted on 9/27/12 at 9:23 am
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.
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.
5
Posted on 9/27/12 at 9:28 am to wickowick
thank you wick 
Posted on 9/27/12 at 9:29 am to wickowick
Safeco does not have a special limit on firearms, but pretty much every other company I know of does. Usually $1500 or $2500, either total or per piece. Read your policy.
I'd definitely agree with finding a stand-alone policy. Homeowners insurance companies are not in the business of valuing firearms. If your guns get stolen, you'll have a theft claim on your CLUE report, which will jack your rate up, may cause you get get canned, and will make it hell to find new coverage. If you have a seperate policy, losses will not go on your CLUE>
Make a list. If you don't want it document on your computer, write it out and put a copy at your parents house. Take pics too if you have a large collection or any particularly valuable pieces.
I'd definitely agree with finding a stand-alone policy. Homeowners insurance companies are not in the business of valuing firearms. If your guns get stolen, you'll have a theft claim on your CLUE report, which will jack your rate up, may cause you get get canned, and will make it hell to find new coverage. If you have a seperate policy, losses will not go on your CLUE>
Make a list. If you don't want it document on your computer, write it out and put a copy at your parents house. Take pics too if you have a large collection or any particularly valuable pieces.
Posted on 9/27/12 at 9:32 am to wickowick
quote:
wickowick
You are both a gentleman and a scholar. I will look into this.
Posted on 9/27/12 at 9:35 am to wickowick
I have a Separate policy through State Farm but it is over twice as much as the one you mentioned. I have a spreadsheet with all the guns listed with serial numbers and specifics like optics and accessories.
I may check into the company you mentioned.
I may check into the company you mentioned.
Posted on 9/27/12 at 9:43 am to Slickback
quote:
Safeco does not have a special limit on firearms
Posted on 9/27/12 at 9:47 am to NicoBlues
quote:
Enjoy your "Wind/Hail" deductible next renewal.
Posted on 9/27/12 at 10:05 am to El Josey Wales
quote:
I have a spreadsheet with all the guns listed with serial numbers and specifics like optics and accessories.
As do I. If it's only $125/yr I may get some insurance on them.
Posted on 9/27/12 at 10:34 am to Slickback
quote:
Enjoy your "Wind/Hail" deductible next renewal.
Posted on 9/27/12 at 10:36 am to Chad504boy
Posted on 9/27/12 at 10:45 am to El Josey Wales
quote:
I have a spreadsheet with all the guns listed with serial numbers and specifics like optics and accessories.
Attach photos of anything that does not have a serial number. Specifically close ups of any unique mark, scratches, or damage. A big help to the guys on my end of recovering your stuff.
Posted on 9/27/12 at 10:47 am to wickowick
It really depends on what type of loss though as far as coverages with most comapnies. But yes if you have over a few guns, get seperate coverage or schedule each piece.
Other things usually limited on policies
Cash
Gold
Silverware/China
Business Property
Rec Vehicles or most things with an engine outside yard equipment
Trailers
sometimes computer equipment
ETA: also if you have something with added value because of age, attachement to someone(once owned by someone), autographs, etc..., more than likely that added value is not covered unless appraised and scheduled
If yall have any questions about general concepts, ask away
Other things usually limited on policies
Cash
Gold
Silverware/China
Business Property
Rec Vehicles or most things with an engine outside yard equipment
Trailers
sometimes computer equipment
ETA: also if you have something with added value because of age, attachement to someone(once owned by someone), autographs, etc..., more than likely that added value is not covered unless appraised and scheduled
If yall have any questions about general concepts, ask away
This post was edited on 9/27/12 at 11:25 am
Posted on 9/27/12 at 10:50 am to Five0
quote:
on my end of recovering your stuff.
sheet we don't want to recover, we just wanna get paid son.
Posted on 9/27/12 at 10:54 am to Chad504boy
quote:
sheet we don't want to recover, we just wanna get paid son.
Truth, unless it is non replaceable or a family heirloom. Replacement cost is much better than a used gun. In addition you get to go shopping...
Posted on 9/27/12 at 10:54 am to Slickback
quote:
Enjoy your "Wind/Hail" deductible next renewal
I notice they've been creeping up on car insurance also.
Posted on 9/27/12 at 10:55 am to Capt ST
quote:
I notice they've been creeping up on car insurance also.
"creeping" is generous.
Posted on 9/27/12 at 10:57 am to wickowick
quote:
Replacement cost is much better than a used gun
Yes it is, I have a hard time getting this through to my insureds
Posted on 9/27/12 at 10:58 am to NYCAuburn
quote:
Yes it is, I have a hard time getting this through to my insureds
"but it cost more"
Posted on 9/27/12 at 10:58 am to wickowick
quote:
Replacement cost is much better than a used gun. In addition you get to go shopping...
Who doesn't like to gun shop?
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