Insurance question


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armoredman
June 23, 2010, 08:38 PM
My new insurance agent requires a list of firearms plus serial numbers for a rider on my policy, and my premium will go up or down depending on how many firearms I own! Also, I am told any firearm NOT listed will not be covered if stolen from home or vehicle. This seems...odd...

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Ala Dan
June 23, 2010, 08:52 PM
Can you trust your NEW insurance agent~? Or will he sell this information
to a perp, just waiting too steal some guns~? I would ask for references,
and talk to those given on a "short list"; just to see how satisfied and/or
dissatisfied they are with this particular agent, before turning over any
make/model/SN of my weapons~! Maybe I'm just too damn picky, but
that is me; cuz I don't trust anyone. :scrutiny: ;) :D

Likewise, NO ONE [including immediate family member's], even have the
combination to by RSC~! If I died right now, that is just something that
would go with me too the grave.

Rembrandt
June 23, 2010, 09:01 PM
Your Insurance Agent is creating a PAPERTRAIL for your firearms.....ask them if you can give all but the last three digits of the serial numbers. Identity theft occurs within Insurance Agencies, no way to know how many people will have access to your records.

I took the price of the premiums and bought a safe, you can do the same, money ahead in the long term.

huntsman
June 23, 2010, 09:04 PM
My new insurance agent requires a list of firearms plus serial numbers for a rider on my policy, and my premium will go up or down depending on how many firearms I own! Also, I am told any firearm NOT listed will not be covered if stolen from home or vehicle. This seems...odd...
Not really, that’s what mine wanted for true replacement and an appraisal for guns no longer made. I didn’t go the rider route and just took the stand 1K coverage because I’m not giving out any serial numbers.

wishin
June 23, 2010, 09:06 PM
We had a rider on my wife's jewelry that required an inventory and value of each item. I don't know for sure how they treat guns because mine are insured through Collectibles, LLC. The price is right and no inventory list is required.

http://www.collectinsure.com/news08.html

oneounceload
June 23, 2010, 09:08 PM
Most home owner policies have a limit of 2500 or so without a separate rider. Mine told me a RSC would be cheaper in the long run. The NRA has some for free, there are other companies that insure guns and other collectibles - I can't remember the name, perhaps someone can, of a company whose annual cost for $25,000 of protection on guns was less than $100 per year - these type of companies insure art, collector cars, guns, etc. - better to use them than your regular homeowner insurance guy

armoredman
June 23, 2010, 10:50 PM
I requested a copy of the policy, got it, and they do NOT list firearms as anything they do not cover OR require special coverage on. They are specific on watercraft, gold, jewelry, rare rugs, pre paid cards, furs, trailers, not a whisper about firearms.
This one line in that list of do-nots I am unsure of, though, not quite sure what the legalese means.
PERSONAL PROPERTY WE DO NOT COVER
1. Articles separately described and specifically insured, regardless of insured limit, in this or any other
insurance.

This I found interesting under the we-will-not-cover-if list, though the last line is very darkly humorous.

5. Loss caused directly or indirectly by War, including the following and any consequence of any of the
following:
a. undeclared war, civil war, insurrection, rebellion, or revolution;
b. warlike act by a military force or military personnel; or
c. destruction or seizure or use for a military purpose.
Discharge of a nuclear weapon shall be deemed a warlike act even if accidental.

Blackbeard
June 23, 2010, 10:56 PM
My new insurance agent requires a list of firearms plus serial numbers for a rider on my policy, and my premium will go up or down depending on how many firearms I own! Also, I am told any firearm NOT listed will not be covered if stolen from home or vehicle. This seems...odd...

What's odd about it? Don't you think it's a bigger risk to insure 500 guns than 5 guns? Bigger risk = bigger premium. Does your auto policy have your car's VIN on it? Or does it just say "some cars"? It makes perfect sense to list the covered items -- otherwise when there's a robbery and they ask what was taken, somehow a couple of Barrett rifles got added to the collection. Being specific protects both you and them.

NukemJim
June 23, 2010, 10:59 PM
Getting serial numbers(where applicable) is standard for all the rider insurance policies (cameras, watches, jewelry etc...) that I have had over years.

Unless you have some very expensive guns ( $25,000 minimum per gun most likely much higher) giving your insurance agent the serial numbers is not going to increase your risk of theft by any meaningful standard of reference.

In terms of confidential information that the insurance companies have about you the listing of firearms is low on the totem pole of worries about security.

Can anyone please give me one examples of people having a problem by giving the insurance company info on your firearms?

As far as not giving out the serial numbers of your firearms due to a fear of the "goverment" getting a list of your guns that is a personal decision. IMHO if you are worried about the feds getting the listing of your collection for eventual confiscation just remember " Shiny side OUT on the aluminum foil helmet":D

As always I can always be wrong.

Best wishes

NukemJim
NukemJim

speaksoftly
June 23, 2010, 11:07 PM
As far as not giving out the serial numbers of your firearms due to a fear of the "goverment" getting a list of your guns that is a personal decision. IMHO if you are worried about the feds getting the listing of your collection for eventual confiscation just remember " Shiny side OUT on the aluminum foil helmet"

Ditto...I have them all insured and am glad I do. As for the government 2013 gun collection plan, it'll never work where I live (Texas). We'll fight a winning or losing secession war before we'll let some White House nut job disarm us.

armoredman
June 23, 2010, 11:15 PM
Never did I say I was worried about the "government" getting a list of my guns, not an issue, no need for the tin foil hat.. As for value, I wish I had a $25,000 collection, much less a single gun worth that much!
I was just curious about this, as in all the years I have had homeowners or renters insurance, this is the first time it has been raised to me. And yes, I have had policies for a few years.

jfrey
June 23, 2010, 11:36 PM
Get a fire proof gun safe instead. Are you aware that thanks to the Patriot Act the govt. can get a list of your insured guns from your agent and he/she can't even tell you the govt. wanted to know. Check it out and ask your agent. I'll never give anybody the serial numbers to my guns, it ain't none of their business.

Coolbreeze8804
June 24, 2010, 01:28 AM
We got ransacked a few years back and lost some irreplaceable (to me) guns, worth about $7500 in street value. The insurance company capped the claim for the gun portion of the robbery at $2500.00. I screamed foul, but that's what was clearly written in my "replacement value" policy. They did the same with the jewelry. $2500.00 cap, unless the individual items, (and guns) were listed on the policy with an appraisal verifying value. Luckily, in the long run, I had a really nice guy for an insurance agent who then walked us through the process of actually getting the insurance we needed, instead of getting the cheapest insurance that we could get.

I've now pulled all the guns off the policy due to a really good set of really big fireproof safes in an area of the residence that can burn completely to the ground and still not harm the safe contents, and they are all bolted in multiple palces through 6" of concrete with 1/2" bolts. So, if the Bad Guys bring a D8 Cat, they can probably take the whole safe, but not with a smaller tool. :neener:

I feel a lot better about the whole thing now...;)

Frank Ettin
June 24, 2010, 02:34 AM
Having a nice safe is of course a good thing. But consider, do you take any guns with you when you travel? Do you hunt? Do you participate in shooting competitions away from home? Do you take classes away from home? That's what I want insurance for.

And yes, I have insurance that schedules all my covered guns. As a Safari Club member I have it though SIAI.

armoredman
June 24, 2010, 10:32 AM
Can't do the massive safe bolted to concrete - don't have that much money and I rent now, thanks to the bank.
"Replacement Cost" is usually a lot better than "actual cash value", insurance agents will depreciate hard, according to the ones I know who have been through it.
I will be talking to the agent today.

CoRoMo
June 24, 2010, 10:46 AM
Another $2,500 firearms rider costs me a whopping $12/year. That brings the cap up to $5,000. The NRA's ArmsCare coverage is worth $1,000. That brings it up to $6,000. My gun collection still exceeds that, so I contacted Collectibles, LLC for additional insurance. I have not yet decided to go with their policy. Right now, I'm getting another fire safe from Sturdy, but eventually I will have to decide if I should live with only $6,000 in coverage or pay for more.

My current insurance company offered me a separate personal articles policy (PAP) that would cover the specific things I wish, but it was more expensive than I would like.

$10,000 coverage = $162/yr with $0 deductible

$20,000 coverage = $324/yr with $0 deductible

Collectibles LLC beats those figures by a long shot.

armoredman
June 26, 2010, 05:53 PM
The info requested was make, model and actual cash value, no serial numbers, and the quote was fair.

oneounceload
June 26, 2010, 09:27 PM
Collectibles, LLC for additional insurance

IIRC that was the name I alluded earlier in this post.............prices seemed reasonable

NukemJim
June 26, 2010, 10:14 PM
Never did I say I was worried about the "government" getting a list of my guns, not an issue, no need for the tin foil hat.

Sorry, did not mean to imply that you did, it's just this usually comes up on this kind of thread. My aplogies sir.

Best wishes

NukemJim

armoredman
June 26, 2010, 10:17 PM
No worries, amigo. :) It was just the first time I had run into that, policies before had blanket $2000 or so built in. Interesting this way, my premium will fluctuate up and down as the collection changes.

searcher451
June 27, 2010, 07:15 PM
I dropped my homeowner's rider policy a long time ago and went with an insurance firm that specialized in firearms; I saved a great deal of money and got a far better policy at the same time.

http://www.historicfirearms.com/

Lots of these types of folks are out there. Take your time, browse a bit, and make some inquiries.

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