Firearm Insurance


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O C
July 15, 2011, 04:08 PM
How many of you have a seperate insurance policy on your guns/ I know that most homeowners policies will cover a limited amount, but how about the collector, accumulator, and plain old "Gun Nut" that has thousands in guns and related gear. Necessary, or optional?

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duggy
July 15, 2011, 04:20 PM
i know the NRA covers up some amount of your guns being stolen

GunLink
July 15, 2011, 05:03 PM
I think the NRA covers around $1000 on firearms and everyone in our household is a member. Beyond that it's crossed-fingers and homeowners ins

splithoof
July 15, 2011, 05:08 PM
Most homeowners policies have pre-determined limits on things like firearms, jewlery, and furs. Most insurance companies will sell you a additional rider policy. At that point, some require a list of the guns covered to establish value, etc.

oneounceload
July 15, 2011, 05:10 PM
There are a few companies that insure collections of about anything for small amounts annually

http://www.collectinsure.com/

rellascout
July 15, 2011, 05:11 PM
NRA insurance is a ripoff IMHO. Max out your homeowners before they ask for it to be scheduled and then check these guys out. They are much more affordable than the NRA program. IMH

http://www.collectinsure.com/cost.html?gclid=CN7O-bGpxKcCFQXu7QodgESaDg

wally
July 15, 2011, 05:49 PM
Collectinsure is who we use, never filed a claim so can't really say how good it is.

But you just buy insurance for the total value and have documentation in a safe place to verify the value when making a claim. No need to send them an itemized inventory, but you'd of course need one, receipts, photos etc. to document any claims.

Found out about them from other threads here on the subject. Using the search function might get a lot more useful information.

O C
July 15, 2011, 10:59 PM
Good info. I have a collection that I inventoried and found out was worth(gasp!) $70,000.00. Never gave it that much thought untill I inventoried it. It's been an acumulation of 60 years of buying, trading, and "good deals".
You might be suprised as to what you have untill you research it. Speaking of research, CollectInsure seems to be the best bang for the buck.

orionengnr
July 15, 2011, 11:07 PM
NRA insurance is a ripoff IMHO.NRA insurance is free with your membership. Not sure how that can be a "ripoff".

I had collectinsure for two years. Eastern Insurance (do a search, or pm me for the exact site) gave me the same insurance (or better) for less.

I have not filed a claim against either, and don't plan to, but the same is true of all the insurance policies I carry. :)

Frank Ettin
July 15, 2011, 11:50 PM
I have a fair number of guns and insurance on them through Sportsmanís Insurance Agency (http://www.siai.net/). The coverage is scheduled (i. e., each gun is listed and identified, and customizations were included in setting the scheduled value).

When I bought the policy several years ago, they were very helpful about preparing and properly formatting the schedule based on all the information I provided. They were also easy to work with as far as agreeing on the insured value of each gun, especially those that had been customized and those that were no longer in production.

Snowbandit
July 15, 2011, 11:57 PM
I just added a rider to my home policy through State Farm. Price was reasonable and they accepted my declared values. I did have to provide them a list with serial numbers but didn't have a problem with that. I know, lots of people complain about State Farm but they have been fair with us for over 30 years now.

John_galt
July 16, 2011, 12:00 AM
Buy an Inland-Marine rider. Allows you to list things like guns, golf clubs, high end jewelry, basically any high dollar toys not common to a houselhold. Tricky thing is not all insurance carriers cover. I have one now that I have to list each firearm with them by serial #. Not something everyone is comfortable with.

Daemon688
July 16, 2011, 12:21 PM
I ended up buying insurance for my firearms separately, don't have a home so it makes sense. I do know that you can additional coverage on your home owners insurance for your firearms, just gotta pay a tad bit more per month.

tazbigdog
July 16, 2011, 12:24 PM
Have NRA for 2500, home insurance to 2500. If get more, then I'll get a rider to cover it.

ridgerunner1965
July 16, 2011, 07:49 PM
my home policy with state farm only covers $1500 in guns. for a little over a 100$ they offer a policy that cover up to 10 k in guns.

rellascout
July 16, 2011, 07:51 PM
NRA insurance is free with your membership. Not sure how that can be a "ripoff".

Run the numbers through someone like Collectinsure against the NRA program for additional coverage over the "free" NRA coverage. It is more than triple what other companies charge. IIRC $10K worth of additional coverage via the NRA program is almost $200 a year while Collectinsure will cost you something like $60.

armoredman
July 16, 2011, 09:45 PM
Bought a rider for mine, goes up and down when firearms are added/removed, but less than $50, no serial numbers, declared values from Gun Broker middle of the road. Worth it to me.

O C
July 16, 2011, 11:21 PM
Alrighty then! We've identified some carriers, and some prices. It seems as though it's coming down to coverages. CollectInsure covers individual guns within a "collection" whether it's on premises or not. Some carriers only cover guns on your premises, which brings up the situation of "I took my custom bench rest .300 Ouch&Ouch Mangle'm to a match, and it was stolen". Covered or not?

wally
July 18, 2011, 12:18 PM
"I took my custom bench rest .300 Ouch&Ouch Mangle'm to a match, and it was stolen". Covered or not?

For these answers you have to talk to an agent for the insurance company. The devil is in the details.

For me having them insured when in my home, since that is where they are 99.9% of the time, and not having to tell God know who works in the insurance business exactly what I have, works for me.

303tom
July 19, 2011, 08:34 AM
I have over a hundred thousand in firearms & firearm related stuff , Insurance ! You damn right .

feltonfitz
July 19, 2011, 08:50 AM
Thanks for all of the great posts about www.CollectInsure.com. Here are some coverage issues to consider:

- coverage away from premise including unattended vehicle
- coverage while being shipped
- types of guns covered...some of the carriers do not cover modern firearms especially what they consider "assault rifles"
- coverage for flood and hurricane
- coperage for accessories and ammo
- deductible

dickttx
July 19, 2011, 11:10 AM
I just checked yesterday and the NRA affiliate is about three times the price for listing them on my homeowners policy.

thunderstorm
July 21, 2011, 05:35 PM
Lots of good information about www.CollectInsure.com, quick question do they want a list of what your have with Model and SN#?

boykinlp
July 21, 2011, 05:58 PM
There are a few companies that insure collections of about anything for small amounts annually

http://www.collectinsure.com/
Has anybody here filed a claim with these guys? If so, how did it work out?

Dr.Rob
July 23, 2011, 06:02 AM
I have a seperate rider on my policy for collections.

Keb
July 23, 2011, 07:30 PM
Another big player with better rates for more than say 15-20K worth would be Eastern Insurance / aka www.Historicfirearms.com

I have found that they beat the company plugged about 6 times above. Look for yourself.

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