NRA insurance programs any good?


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epijunkie67
July 1, 2005, 12:48 AM
I was looking over my gun collection and thinking about it's value when I realized I needed more insurance. I should have actually figured that out when the single spaced inventory spilled onto the second page but I'm a slow learner. I know we had a thread about this a few days ago but I was wanting to get some feedback on the insurance sponsored by the NRA. Here's a link.

http://www.locktonrisk.com/nrains/index.asp

I'm a member and I'm interested in the Armscare Plus and the Excess Personal Liability with the Self Defense Coverage.

My house insurance is with State Farm and when I called today I was told I'd have to give them a complete list of guns and it would cost $240/year for $12,000 worth of coverage. The NRA Armscare policy would cost $200 so they seem to be competitive.

Anyone have any experience with this coverage or the other NRA policy. Opinions? Criticisms?

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Father Knows Best
July 1, 2005, 09:25 AM
I don't know about the Armscare policy, but I'm interested in hearing what others' experience is. I think the excess personal liability coverage is way too expensive for what you get -- just $250,000 in coverage. Call your insurance agent and ask how much liability coverage you have through your homeowners' policy. Then find out what the optional coverage amounts are, and how much they would cost. I just switched my homeowner's policy from Allstate to Farmer's, and I got $500,000 in liability coverage (instead of the standard $100,000) for just $9 more per year.

If that's still not enough (and it isn't, for me), ask for quotes on a "personal umbrella liability policy." I also just got one through Farmer's with $2 million in coverage for about $280/year.

By the way, the reason I carry $2.5 million in liability coverage is that I live on a lake. We have three boats, various water toys, and a swingset. We also have young children, who frequently have their friends over to swim and play. If some kid gets seriously hurt on one of the boats, or cracks his skull on the swingset, or drowns in the lake, the liability could be huge. We also frequently drive our kids and their friends places, and a crash with a minivan full of kids would mean big money. I'm a lawyer and I've seen families ruined by accidents like that. I consider the extra $300 or so I spend for $2.5 million in liability coverage to be well worth it just for the peace of mind it offers.

epijunkie67
July 1, 2005, 03:29 PM
Father Knows Best
ask for quotes on a "personal umbrella liability policy."

But will that cover you when you are off your property and have to use deadly force? I use my concealed carry permit daily and if something ever goes down and I have to use it I assume I'm going to get sued. Either by the perp if they are lucky enough to live or their family if they don't. And God forbid an innocent bystander gets injured or killed.

Any idea how to get coverage for off property incidents? Will the NRA policy do that and if so do you think it's enough?

Father Knows Best
July 2, 2005, 10:03 AM
Yes. A personal umbrella liability policy covers you for any liability, no matter where you are. It subject only to certain listed exclusions. The biggest exclusion is for "intentional acts", but that exclusion appears in every liability insurance policy of any kind. No insurance company will protect you from liability for bad things that you do on purpose.

Old NFO
July 2, 2005, 11:56 AM
I carry an additional $75K rider with State Farm just for the guns. It's about $25 a year extra, but I have "some" piece of mind if I ever have my house robbed again.

MountainPeak
July 2, 2005, 05:56 PM
You might check out www.collectinsure.com The NRA endorsed companies were MUCH higher priced. You do not need to give serial numbers out like many "umbrella" policies require. ADDED: Sample prices from them, $5000 in coverage $22 per year, $10,000 $43, $25000 $108 and $50,000 $215. That's the prices without a safe. On the higher cost coverages it's a little cheaper if you have a safe. epiejunkie67, looks like the $12000 coverage you mentioned would be $52

MillCreek
July 2, 2005, 06:04 PM
As I have posted before on this forum, do not assume that your standard homeowners' or personal umbrella policy will provide you any civil liability coverage for a self-defense shooting. The above poster is somewhat on point by correctly referring to the 'intentional acts' exclusion. That exclusion is generally interpreted to exclude coverage for any intentional shooting, whether done in self-defense or not, and even if you did not intend the harm the shootee.

Depending on your income, assets, liability exposure and future income, I also generally second the recommendation for personal umbrella liability coverage. I pay $ 270 per year for an additional $ 1 million in coverage.

Please search the forum using the terms 'liability AND insurance' and you will see some of the earlier threads.

antsi
July 3, 2005, 12:16 PM
MOuntain Peak, check out this Q and A from the Collectinsure.com website:

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Q. If I regularly shoot my guns or carry a gun for self protection can I insure these guns?

A. No. Our coverage is for guns mainly owned as collectibles. If you occasionally shoot a gun for hunting or on a range we can insure it. For instance, if you take a particular gun out a couple of times a year on a hunting trip and it is stolen from your vehicle while eating dinner after a hunting trip, we pay.

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MountainPeak
July 4, 2005, 11:07 AM
antsi, you left out the rest of their answer. I believe they were talking about not covering damage to weapons while in use!! My policy has no exclusion considering the use of firearms, when it comes to theft, fire, etc.. They won't cover your gun if you double charge a load and blow it up. :)

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