Just completed my inventory!

It's not so much the gun inventory that scares me, it's the ammo inventory that gets me.

I have usaa for my home insurance and love them. I have a rider for a few, but I found their rates kind of high for this. Most of my firearms are insured with Collectibles Insurance...much cheaper and they don't require the serials.

I'm a pretty big fan of insurance for stuff that would be difficult to replace (car, house, all the furniture in the house, etc.). Replacing my guns would not be difficult (it would be painful). I don't choose to insure them beyond whatever my homeowner's policy limit is ($5000, I think). Instead I choose to invest in a great big old fireproof safe or two.

I calculated (roughly) that I have spend about $40,000 on firearms (I've been at it for 19 years)

I have insurance on mine, just make sure you have pictures of the items and their serial numbers kept in a fireproof safe somewhere.

never thought about insuring the ammo and accessories though... might have to look into that.

I've got a little over $4,000.00 in my guns, but I'd have trouble replacing them for less than $50,000.00.

Maybe I should consider insurance on my guns and accessories.
(That's the problem with long-term collecting.)

www.collectinsure.com for reasonably priced firearms insurance.

As far as the box'o'holsters goes, list 'em individually on eBay. The "bigger idiot" theory is alive and well.

Yea ins man,,, id like to insure 10k rounds of ammo,,, Humm sir you ok?.. Policy canceled LOL

Gun Insurance

The latest issue of Concealed Carry Magazine has a great article on this very subject. For collections that exceed a typical homeowner's personal property loss limit which is around $2500, it is suggested to get supplemental insurance (Personal Articles Floater) through your existing homeowner's insurance company or seek out additional coverage through the NRA's firearms insurance program. For specialty or collectable firearms, appraisals are always a good idea. Remember, floods, earthquakes and "government seizure" is not covered by most policies.

"...don't choose to insure them beyond whatever my homeowner's policy limit is..." If you become the victim of a crime or tragedy, you'll get whatever the insurance company thinks your firearms are worth. Your homeowner's policy doesn't include 'replacement value'. Insurance companies work from their own 'Blue Book' that has nothing to do with reality.
Insurance companies think everything loses value over time. Firearms generally, don't. Even late model commercial hunting rifles retain their value fairly well. Not in the short term, but certainly over 5 or 10 years. In any case, it'll cost you more to replace, say a Rem 700, than you paid for one 5 or 10 years ago. Far worse over a longer term.
Ammo, reloading supplies and the 'drawer' won't be covered.

I asked about covering the firearms with my agent and he told me that it wasn't necessary since the $2000 limit covered each item. If five guns were stolen, they would be covered individually. HOWEVER, the $500 deductible also applies

You have to watch ALL the details. Isn't understanding insurance fun? (NOT!)

Ken

I doubt that homeowners cover individually as stated above...I have always seen it as a blanket amount.

But the main thing I have to say is go look at Eastern Insurance Historic Firearms before you get involved with "collect insure".

www.historicfirearms.com

Either your insurance agent just filled you full of crap, Paints, or I would appreciate it if you could let the name of the company go so the rest of us could switch our insurances.....

yeah, i think your insurance agent might be mistaken on that, and if he isn't let us know the name of the company. might be beter to read the fine print yourself than to take your agents word for it.

Thanks for the reminder; I need to renew my policy -- I think that it comes due at the end of this month, and that's right around the corner. My, how time flies.

Keb said:

I doubt that homeowners cover individually as stated above...I have always seen it as a blanket amount.

But the main thing I have to say is go look at Eastern Insurance Historic Firearms before you get involved with "collect insure".

www.historicfirearms.com

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I am an insurance agent. The special limit on firearms applies to theft only and is blanket coverage. If you have $10,000 in guns and they are stolen, they will only cover up to the special limit which is usually between $500 - $2,000. Similar limits also apply to theft of jewelry and silver. It is pretty easy to schedule the jewelry and silver individually on homeowners but a lot of homeowners will not schedule the guns. Also when you schedule items onto the homeowners, the carrier requires you list everything and have receipt or appraisal.

Collectibles Insurance Services has been insuring collections since 1966 and gun collections since the 80's. We insure modern to antique including what others classify as "assualt weapons". Only guns worth $5,000 need to be listed but no serial numbers are required. I have my husbands guns, bow and accessories insured with the agency.

www.collectinsure.com

PS: We offer The High Road members 5% off the first term premium. Be sure to mention if you call and on your application.

searcher451 said:

Thanks for the reminder; I need to renew my policy -- I think that it comes due at the end of this month, and that's right around the corner. My, how time flies.

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When reviewing your renewal look for "special limits of insurance"

Tell us Felton, do you just happen to work for or act as an agent for collectinsure?

Last time I checked with another member who used them, my cost was 45% cheaper with the Chubb firearms policy.

Up above you try to confuse people by talking about homeowner blanket coverages versus a true firearms policy.

Homeowners policies on firearms are up to a specific limit just like art work, jewelry, coin collections, photography equipment ... any collections. You must up the limit and often requires listing the firearms individually. Quoted prices for a significant collection are HIGH as a rider for homeowners or renters insurance. Definitely check out some of the firearm specific insurers on pricing if you want to insure your firearms. The regular insurance companies view firearms as a high risk item.

My suggestion is to buy a safe. A significant fire will destroy the contents of a safe. It is just one of life's risks.