Gun Insurance - What do you guys do?


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carbine85
April 5, 2012, 10:49 AM
My home owners covers $2000 and $120 per year for the next $4000 ($6000.00 max.). I thinks that's expensive. The NRA doesn't say much on their website and I can't get through to their insurance department.
So I'm curious as to whom you guys use and what it cost.

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oneounceload
April 5, 2012, 10:51 AM
You can basically self-insure with a good safe.
Otherwise, Collectibles:
http://www.collectinsure.com/

TXSWFAN
April 5, 2012, 10:53 AM
My insurance (Germania) covers firearms like any other property. No additional premium.

rellascout
April 5, 2012, 11:00 AM
You can basically self-insure with a good safe.
Otherwise, Collectibles:
http://www.collectinsure.com/


This is who I use. They are much cheaper than the NRA sponsored program which IMHO is a rip off. The only real qualification is that you have a 300+ LBs safe that you store your collection in.

It covers loss and theft and you simply need to have accurate records of ownership. Serial numbers and a pic are all you need. You do not need to schedule any items unless you have an individual item that is woth more than $5000.

You can apply online. It takes about 48 hours for them to underwrite your policy. I paid with credit card over the phone and the policy was in force that day.

IIRC you can get about $20,000 of insurance for about $150 a year.

chez323
April 5, 2012, 11:30 AM
I've got a rider on my home owner's insurance thru USAA that covers my wife's guitars and my guns to the tune of $21k for $225 a year.

abq87120
April 5, 2012, 11:58 PM
On the other side of gun insurance, I checked out the NRA's liability insurance in case I was hit with a civil suit after a shooting self-defense situation. The way I read their policy, for about $200 / year , they would provide $200,000 for the trial but only if I won. I went with a $1,000,000 umbrella policy with USAA for $120 / year. I had to up the coverage on my other policies, auto and home, with them but felt the overall value was best there.

Elkins45
April 6, 2012, 09:16 AM
You can basically self-insure with a good safe.
Otherwise, Collectibles:
http://www.collectinsure.com/
Do we know of anyone who has actually had to file a claim with them? I know they will SELL me insurance, but I don't know for certain that they will honor a claim without having to hire a lawyer and sue them.

Mind you I have no reason to suspect they are anything other than a stand-up company---but I also have no information to the contrary either. I've been looking at them and I would like to know if they have a track record. Of course, I realize that the number of people who are insured by them who also get robbed must be a pretty small sample and the chances that one of them reads THR must be tiny.

My homeowners is through State Farm and they limit firearms theft to $2500. I'm an NRA Life Member but the NRA additional ArmsCare is VERY expensive.

Murcielago
April 6, 2012, 09:22 AM
Personal effects rider through USAA as well, covers my gun & wife's jewelry. $28 a month, I think.

fpgt72
April 6, 2012, 09:55 AM
Personal effects rider through USAA as well, covers my gun & wife's jewelry. $28 a month, I think.
Same here....a rider....it is pretty cheap.

I also do State Farm on my collector cars....they have agreed value and are cheaper than the special companies that just do collector cars.

almostfree
April 6, 2012, 10:02 AM
I've been happy with ArmsCare Plus from through the NRA.

http://www.locktonrisk.com/nrains/ArmsCarePlus.htm

I had not heard of collectinsure.com. After looking at their website, their coverage does look less expensive, and they cover knives.

rellascout
April 6, 2012, 10:41 AM
Do we know of anyone who has actually had to file a claim with them? I know they will SELL me insurance, but I don't know for certain that they will honor a claim without having to hire a lawyer and sue them.

Mind you I have no reason to suspect they are anything other than a stand-up company---but I also have no information to the contrary either. I've been looking at them and I would like to know if they have a track record. Of course, I realize that the number of people who are insured by them who also get robbed must be a pretty small sample and the chances that one of them reads THR must be tiny.

My homeowners is through State Farm and they limit firearms theft to $2500. I'm an NRA Life Member but the NRA additional ArmsCare is VERY expensive.

I do not know anyone who has filed a claim but they have been in this business for 60 years. They insure collections with 3,000+ items and also insure large dealer collections as well.

The insurance is underwritten by United Naitonal Insurance Company which is rated "A" by AM Best. Since it is specialty insurance, it is offered on a non-admitted basis (surplus lines). Therefore the coverage is not covered by the states' insurance guarantee funds if the insurance company were to go out of business.

This surplus line part is pretty common for collectible/gun insurance outside your homeowners policy. IIRC

In the end there is always some risk in buying insurance but in my research I was not able to come up with any negative data on this company. When I choose them the BBB info I could find contained nothing negative.

CoRoMo
April 6, 2012, 12:19 PM
My home owners covers $2000 and $120 per year for the next $4000 ($6000.00 max.). I thinks that's expensive.
Ouch! That is very expensive for what you get. Our homeowner's insurance automatically covers $2.5K toward firearms and doubling that costs a whopping $12 per year, so $5k for $12/year.
The NRA doesn't say much on their website and I can't get through to their insurance department.
My NRA life membership covers something like $2,500 and costs nothing. http://www.nra.org/benefits.aspx I'm not familiar with their pay-for policies.

If you have more value than that, either a rider from the homeowner's policy or get a policy from a company like Collectibles Inc.

browningguy
April 6, 2012, 05:55 PM
I also use collectinsure, a safe is not insurance. Even with my 400 pound plus safes bolted to the wall I just look at them as a convenient way for thieves to carry off lots of stuff at one time. They protect you from casual thieves, but the pros will have them out in just a few minutes.

Red Cent
April 6, 2012, 06:26 PM
Gotta have a combo or digital lock with collectinsure. My monstrosity is six bars of manual.

Animal Mother
April 6, 2012, 06:38 PM
I use collectinsure as well, and while it is a very good idea to have one, it is my understanding that a safe is not a requirement. I looked over my policy just to double check. That may be a requirement at certain higher dollar amounts, but is not with the policy I've had with them for years.

rellascout
April 6, 2012, 06:56 PM
Safe Requirements – 300 lbs empty, no wheels and a combination or digital lock. This is part of their current underwriting.

Animal Mother
April 6, 2012, 07:39 PM
If you take about one minute you can generate a gun collectors quote with no safeguards (safe, vault, etc.), but with full burglary and theft protection using the link below:

https://secure.collectinsure.com/onlineapplication/Quote.asp

My most recent rate sheet shows a divergence between pricing between no safeguards and valid safeguards for coverage above $25,000 but for coverage levels at or below that amount there is no pricing difference. Therefore, I see no reason to give them a reason to deny any future claims on the basis of not meeting the valid safeguard requirement, should a portion of my collection not be in my safe at the time of theft.

Keb
April 7, 2012, 09:27 PM
Do yourself a favor and check with Jack at Eastern Insurance / Historic Firearms.

Sheepdog1968
April 7, 2012, 09:42 PM
I use collectinsure as well, and while it is a very good idea to have one, it is my understanding that a safe is not a requirement. I looked over my policy just to double check. That may be a requirement at certain higher dollar amounts, but is not with the policy I've had with them for years.
You are correct. I have a safe but wasn't sure if it would meet their weight criteria so I got the insurance as if I don't have a safe.

22-rimfire
April 7, 2012, 10:42 PM
I believe in self insurance. Safe's help a lot. But they are expensive too as far as I'm concerned.

BADSBSNF81
April 7, 2012, 11:00 PM
A rider with replacement cost coverage.

Kevin Rohrer
April 8, 2012, 12:15 PM
My gun insurance is my safe and my ability to defend it w/ what's not in it. :cool:

kimberkid
April 8, 2012, 12:32 PM
^^^^^^^^^^^^^^^^^^^^^^^^^^
Directed also at others who say self-insure ... What about when you aren't home?

VancMike
April 9, 2012, 01:42 PM
I've had State Farm for years. I believethey're the largest insurer in the US, so it's not like they lack resources nor are difficult to contact.

You can increase the standard firearm coverage for a minimal cost. I also have a floater (covering some other specific household items) to which I add some of my more expensive firearms. All very reasonable, IMHO, and since State Farm knows I own firearms, there's no concern about liability issues.

Shoobee
April 9, 2012, 02:12 PM
AAA for their basic casualty policy of $15K charges $117/year according to my last bill back in December for "insurance."

But my primary "assurance" policy is my Liberty Centurion gunsafe.

Play on words, although the safe is the primary preventive measure, with the pay-back feature of the insurance policy only secondary.

CoRoMo
April 9, 2012, 02:13 PM
others who say self-insure ... What about when you aren't home?
They would simply go buy another gun, guns, safe, etc. No premium, no payout.

303tom
April 10, 2012, 09:23 AM
Gun Insurance - What do you guys do?

My Insurance guy & I just sat down & hammered out a RIDER that we could both agree on...........

gym
April 10, 2012, 12:26 PM
I checked yesterday, it's basically 2 grand included, then it was the price of a new gun each year for the ryder, like 450-500. I skipped it. Safe alarm, dog, you have to draw the line someware. If you put ryders on all your stuff, you could easilly end up with a couple thousand in extra payments. In 30-40 years, aside from that incident I had, I saved 60,000 in insurance ryders. More than enough to buy a few guns.

VancMike
April 10, 2012, 01:52 PM
In 30-40 years, aside from that incident I had, I saved 60,000 in insurance ryders. More than enough to buy a few guns....

Dude, you must have a lot of guns......or you need to shop around. With State Farm, I pay $12.50 per $1000/value per year......I figure I've paid about $8,000 in premiums in 40 years....sure, that'll buy a lot of guns, but I've also had a couple of claims and they paid immediately. Worth the cost.....and not worth self-insuring high-value firearms.

Loosedhorse
April 10, 2012, 01:57 PM
I understand that under Obamacare, we'll be required to purchase gun insurance...so the price will come down!


:scrutiny::rolleyes::D

Shoobee
April 10, 2012, 01:58 PM
LHorse you have been listening to too much right-wing radio, and it is rotting your mind.

Jonah71
April 10, 2012, 03:40 PM
I moved into an apt. this past Jan. Don't have homeowners insurance at the present time. Just the $2500 NRA policy on my guns. That's not enough on it's own. I guess I'd better be calling the NRA for an increase. I'd forgotten all about it. Sucks getting old and forgetful.

thefamcnaj
April 10, 2012, 04:31 PM
Wow I'm getting completely getting ripped off on my gun insurance. My home owners only covers 1000 dollars as it pertains to fire arms. I have an additional policy with my insurance company for my guns, its 220 dollars a year.
I had to write down all my makes and models and serial numbers. Then get my lgs to write a replacemeant cost by each item. All that totaled up to be 12000$. So the policy covers that exact amount. So now every time I buy a new gun, I have to e mail my agent the make and serial number+msrp and it then gets added to my "gun policy".
I'm thinking now I should go a different rout.

22-rimfire
April 10, 2012, 11:18 PM
I could buy a good safe a year for the cost of the insurance through my home owners insurance company.

What about when you aren't home?

I don't worry about it. If they all dissappeared tomorrow it would pain me, but I probably wouldn't loose any sleep.

Sheepdog1968
April 10, 2012, 11:45 PM
I've had State Farm for years. I believethey're the largest insurer in the US, so it's not like they lack resources nor are difficult to contact.

You can increase the standard firearm coverage for a minimal cost. I also have a floater (covering some other specific household items) to which I add some of my more expensive firearms. All very reasonable, IMHO, and since State Farm knows I own firearms, there's no concern about liability issues.
The same is not true for Allstate.

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