Insurance company demanding firearm appraisals?

I want to cry right now.

I've been a State Farm client since 2000, insure a home, a couple vehicles, a motorcycle, and all my assets. I just got a notice saying my personal article policy would be cancelled if I didn't get everything (including guns) appraised. I've never even made a claim, had an accident or received a ticket. Nada.

OMG, why can't I state a value and pay the appropriate amount to insure my items for the stated value? This is what I always did in the past. It was good last month, last year, etc...

Does anyone have an insurance company that is easier to deal with?

Has anyone had to get guns appraised?

I'm terrified my guns will appraise lower than the actual cost to replace them. How do these appraisers assign an arbitrary value to a handbuilt FAL or a 1955 M-1 Garand? Ya don't just walk into a store and find that stuff. I'm going to be sick. I don't want to show a stranger all my stuff.

That's just it, I don't want to show receipts from 1996, 1997, 2001, 2003, etc. Some of my firearms have raised 300% in value.

:banghead:

I just looked into USAA. They'll cover my firearms, no appraisal, including scopes, etc, but I also have to insure my home with them. My vehicles are cheaper through USAA, and my motorcycle is cheaper through Progressive (via USAA referral).

The home insurance and the firearm coverage (aka a rider) is more through USAA, but the coverage is better also.

The net difference is slightly better coverage for $53 extra every 6 months with USAA.

Does ''personal article policy'' mean, a seperate policy for valuables i.e. firearms? For example, you have homeowners & secondary rider policy e.g. ''personal article policy.''

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Exactly. The basic homeowners policy covers a minimal amount for firearms, maybe only a couple thousand dollars. So years ago I asked for a supplemental policy specifically for firearms. I was able to get a supplemental policy for $15,000 for a total of $17/month. I provided a list with firearms, S/Ns, and values I assigned. For instance, I stated the value of a Glock 41 pistol to be $700, because after installing night sights and paying tax, that's what it would cost me to replace. If I take that Glock to an appraiser, he'll say a used Glock is valued at $450, so I'll get chiseled a few hundred dollars on each firearm.

State Farm never before balked at this.

I recently scored a M1 Garand with a tight barrel and new stock for $730. J&G Sales has an identical one for $1379, so I want to insure my Garand for $1500, because retail replacement is $1379 + 10% = $1516.90.

I'm willing to pay the appropriate premium for the level of insurance I want.

I'm really not thrilled about loading up my whole gun collection and having a stranger appraise them, especially because most appraisers assume you want to sell, because they advertise "We pay top dollar". But I don't want my firearms appraised at " trade-in value".

And IMO, showing everything to a stranger is a compromise in operational security.

If Madonna can insure her old saggy breasts for millions, then I want to insure my property for the value it would cost me to actually replace it. I'm willing to pay whatever premium reflects my desired level of insurance.

Rather than complain on a public forum, why not first call your State Farm agent and get some help/answers?

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Because I was curious how common this appraisal thing is, and I called USAA specifically because of the info gathered here. I'd say the forum worked perfectly.