October 15, 2005, 12:06 PM
I'm shopping my homeowners policy around. Who do you recommend and why? Specifically, what is their base coverage limit for firearms in the policy? If you added a rider to increase that was the cost reasonable? Also, if you have had an occasion to use your coverage for gun(god forbid) how were they to work with regarding replacement of your guns?
October 15, 2005, 12:13 PM
I'm shopping my homeowners policy around. Who do you recommend and why? Specifically, what is their base coverage limit for firearms in the policy? If you added a rider to increase that was the cost reasonable?
It's just far too expensive to add extended coverage for guns to your homeowners policy.
I read several threads on this subject a year or two ago. I thought these guys looked like the way to go:
They've been around since the 1960's. They insure collections specifically. They are going to pay you the "correct" price if the gun is stolen. Their prices are quite reasonable. Much less than you would pay for extended coverage on a homeowners policy.
Go to their website, scroll down and select their FAQ on gun collections.
And then download their price schedule. $106 a year for $20,000 worth of coverage sounds good to me!
October 15, 2005, 04:15 PM
Gregg is right. I priced premiums from my homeowner's insurance company, Liberty Mutual. They were twice the premiums from NRA Armscare. Worse, Liberty required that all guns be listed by model, maker, and serial number (no such thing for most guns with NRA), and who knows how many Liberty employees have access to their computers. No thanks.
October 15, 2005, 09:36 PM
Cross American Family off your list: additional coverage is available only if you register your guns with the company.
October 16, 2005, 12:12 AM
USAA covers guns up to the limit of your homeowner's/renter's policy. No rider required.
October 16, 2005, 02:15 AM
USAA covers guns up to the limit of your homeowner's/renter's policy. No rider required
I think this varies depending on what state you live in. I have USAA homeowners insurance. I called them to see what my gun coverage was and possibly get a rider. They told me the amount of coverage they provide is based on some state guideline. My homeowners insurance provides me with a very small amount of coverage (either $1,000 or $1,500) in VA. The customer service person I talked to told me that if I were to move to NC then I would receive $10,000 worth of coverage without a rider.
I recommend you call and ask your homeowners insurance company what limits (if any) they placed on firearms for your specific policy.
October 16, 2005, 12:03 PM
USAA is covering up to $4000 on my policy with no additional fees.
October 16, 2005, 12:31 PM
I love USAA but they weren't much help for me with the guns. If I recall right I had to give very specific info and pay a lot and then it was only going to insure that specific gun. Too costly and painful in this case.
The NRA insurance is good but I found the CIA guys that Tulsamal posted the link to to be much cheaper (about 1/2 the NRA price).
October 16, 2005, 02:20 PM
USAA in New Mexico is pretty good. I pay like $60 a year for renter's insurance, and that includes 5 or 6k of gun coverage. No extra rider needed, and no form of registration whatsoever.