Firearm Insurance

[ruger1228]

I checked with my insurance company and they only cover $2500 on firearms if lost, stolen or fire damage. They wanted outlandish price for rider for more coverage. I am looking for insurance company that specializes in firearm insurance.
Has anyone used the NRA gun insurance or the Collectibles Insurance Services? Are there other companies available?
I would appreciate any information or opinions others have had on this issues.
Thanking you in advance for your assistance in this matter.
Thom

 

[oneounceload]

collectibles, from what I have been told, is the best. If you are a NRA member, you have some amount automatically included as part of the membership - I think it is about $750. A good safe is also a good insurance method - what my homeowner's agent told me years ago

 

[leadcounsel]

I use the NRA insurance. It's not the cheapest, but it doesn't require providing a list of guns and serial numbers.

USAA I think is cheaper, but they require said list, which I don't want to provide.

 

[oneounceload]

I do not believe Collectibles wants a list, but I am not absolutely sure on that. When I checked into them, I could get a quote over the net and set up the policy. I didn't go any further than that, buy up to that point they weren't asking for any details, just the amount you wanted. $25,000 coverage was going to cost about $60 per year

 

[Kevin Rohrer]

My insurance is a gun safe. I paid less for it than one year of the insurance I would need to cover all the guns it holds. All the insurance in the world would never replace most of its contents, which hold value for me $$$$ can't replace.

 

[ruger1228]

My insurance is a gun safe. I paid less for it than one year of the insurance I would need to cover all the guns it holds. All the insurance in the world would never replace most of its contents, which hold value for me $$$$ can't replace.

I have 3 guns safes. But also feel the need for firearms insurance in case of fire. Yes, my gun safes are rated for 60 minutes burn time. To me that is just a number. Who really knows how long a safe will keep the firearms from being damaged or destroyed. I live in a very rural area with volunteer fire department. Some of my firearms are irreplacalbe but I want to be able to replace the ones that are and I want coverage to be able to do that

 

[M2 Carbine]

I checked with my insurance company and they only cover $2500 on firearms if lost, stolen or fire damage. They wanted outlandish price for rider for more coverage. I am looking for insurance company that specializes in firearm insurance.

That's a rip off. Look for a new company.

Over the years I have been with four insurance companies. Presently with Allstate. None required additional insurance for firearms.
All firearms are automatically covered within the limits of the personal property coverage.
Actually I rechecked just a couple months ago again. "You have $****** in personal property coverage, so the guns are covered up to $****** ".


In 1995 my gun shop burned to the ground. EVERYTHING in it, including the guns were covered at (new) replacement value.


The only thing I have ever been told by the insurance agents is, "If you have some unusually high value guns, like over $5,000, we don't require records but you should have pictures and info of the guns stored in a safe place, like a bank box".
But you should have that info on all your guns and equipment in a safe place anyhow.

 

[Yo Mama]

USAA I think is cheaper, but they require said list, which I don't want to provide.

I have USAA, and no list was required. You should always have pictures or video to show what you had though.

All firearms are automatically covered within the limits of the personal property coverage.
Actually I rechecked just a couple months ago again. "You have $****** in personal property coverage, so the guns are covered up to $****** ".

Some do it under personal property, but most have a seperate coverage for just firearms. Mine is 2500 dollars.

What you also need to think about are all the extra acessories such as mags and ammo. These would go under personal property.

 

[M2 Carbine]

What you also need to think about are all the extra acessories such as mags and ammo. These would go under personal property.

Yes.
You want to think about having enough personal property insurance if the loss of your guns, along with your other personal property, could impact you too hard.


As it happened I had three large losses in as many years. I was lucky that the personal property insurance coverage was enough to replace everything each time.

 

[jitdc]

I use State Farm and have all of my guns covered under a personal articles policy. It's very cheap and I have things like my DSLR camera on it as well.

 

[Sheepdog1968]

I use State Farm and have all of my guns covered under a personal articles policy. It's very cheap and I have things like my DSLR camera on it as well.

How cheap?

I ask this because I know Allstate was outrageously expensive to the point where I went elsewhere. Collectibles Inc (mentioned by many others above) runs about $100 per $10,000 coverage. You do NOT need to give them a list. I know this as I have them.

 

[BigJimP]

All Insurance policies - vary by State guys...so be careful about generalizations.

The typical sub-limit on most homeowners policies is for "Theft of Firearms" only ...( not typically for Fire, etc ) and it is often a relatively low limit, like $2,500 ..../ but remember you have a deductible as well on a homeowners claim ( $ 1,000 is common ).

There are a few companies that have no sublimit for Theft of Firearms ...but it varies by state, even with the same company....AllState & USAA both have sub-limits for Theft of Firearms in my state...in other states, by your notes, apprently they don't....

Most companies will give you two options:
a. Increase sub-limit for "Theft - of Firearms" from say $ 2,500 to $5,000..for a very small charge ( maybe $ 25 a year ) ...but it may also have a limit within it, of no one item over $1,000 or something....and the deductible still applies.

b. Schedule each gun - that you want coverage on. Cost varies a lot by state ...but in my area its about $ 18 per $1,000 of value. If you have several guns that replacement cost is $ 15K - then premium will be about
$ 270 a year - but there is No Deductible in most policies for Scheduled Items.
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Issue is "Theft" not Fire....so having a good safe is probably all you'll need. But if you travel a lot with your guns, have 4 or 5 guns in your vehicle - and stop for lunch - after a range trip --- that's where you're vulnerable. Theft of guns from a vehicle - is usually a homeowners claim - not an auto claim...

Scheduling covers them everywhere - for virtually everything....but you have to "schedule every item you want on there" make, model, serial number, replacement value - and there is no "automatic coverage" if you replace one gun with a different gun...and you have to remember to take one off, if you sell it, and put something else on - if you want it covered by the schedule.

You do not have to "schedule" every gun you own ....you can just do the high value ones....
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NRA insurance - and others ...may be ok / and it'll keep a claim off of your homeowners insurance policy...but every policy is different. You have to read the details...and be a smart consumer.
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Personally - I have a good safe. I choose to only schedule the guns that have a replacement value of over $ 2,500 per gun....to manage my costs...and I use my homeowners insurance because I trust them. But everyone should read their policy for sub-limits --- and call their agent...!

 

[bodam]

My home was broken into last year and two guns were stolen. My homeowners policy only covered $500 total.

They also only covered $500 in jewelry.

I wish I knew that before I got the policy. I added additional coverage for both, as well as coverage for guitars.

The additional coverage wasn't much, maybe $100 a year.

Everyone should read their policy, especially the exclusions. You will be surprised what they will not cover.

 

[Paul7]

My insurance is a gun safe. I paid less for it than one year of the insurance I would need to cover all the guns it holds. All the insurance in the world would never replace most of its contents, which hold value for me $$$$ can't replace.

Hope nobody takes your safe. I've heard of 2,000 lb. safes being carted off.

The other advantage of insurance is you're covered for your car or anywhere outside the house.

 

[Kevin Rohrer]

Hope nobody takes your safe. I've heard of 2,000 lb. safes being carted off.

I understand what you are saying, but don't feel it's a real concern for various reasons.

My only concern is to whom my guns will go when I die. I have 2-girls who like to shoot, but aren't shooters.

 

[Ken451]

My home was broken into last year and two guns were stolen. My homeowners policy only covered $500 total

When we got the insurance policy, the salesman assured me that the guns were covered. When we reported two stolen, they pointed out the $500 deductible and said that the value of the two guns wasn't worth reporting....

As for a safe preventing theft, how many safes will take more than 5 minutes to cut open with a$30 angle grinder?

 

[K1500]

I think BigJimP has it about right. State Farm here is 2500 with the option to increase it to 5000. After that, you must schedule them. Farm Bureau lied to me and told me I was covered at a much higher level, but was not. If you think you have a bunch of coverage from your HO insurance, you better make darn sure you do before you get too confident.

 

[M2 Carbine]

All Insurance policies - vary by State guys...so be careful about generalizations.

Yes, definitely an important consideration. Just like the gun laws are different in different states.

As for a safe preventing theft, how many safes will take more than 5 minutes to cut open with a$30 angle grinder?

That pretty much sucks.

 

[Ironclad]

My only concern is to whom my guns will go when I die. I have 2-girls who like to shoot, but aren't shooters.

If it would help put your mind at ease, I would be more than happy to adopt them

 

[Trent]

My state farm policy covers $5k and that's the maximum they'd allow.

They have a separate policy available but it was very expensive and capped out well under what I needed.

I've got the ArmsCare Plus package with the NRA right now, but it's a bit pricey, and I had to schedule out firearms with a declared value over 2500 ea.

 

[coloradokevin]

I seem to recall that my homeowner's insurance, while providing adequate personal property coverage, was also notable lacking in terms of firearms coverage (again, somewhere in the $2,500 range that the OP stated). Like the OP, I was quoted a ridiculous rate for additional firearms coverage.

For those of you who are concerned about this issue, I'd carefully read the materials provided by your insurance carrier, and carefully question them about this type of coverage. Firearms appear to be exempt from the normal "personal property" coverage in many cases.

I haven't found a good solution to this problem yet. I figure I'm pretty well covered against routine theft thanks to a schedule that keeps someone in this house for all but about 4 hours every day, and two large home-protective dogs who would deter most burglars. Fire is another issue though.

 

[Kevin Rohrer]

If it would help put your mind at ease, I would be more than happy to adopt them

You DO understand that they will probably not end up with my guns?

 

[ErikO]

eSurance covers the first $5k of gun collections, based upon stated value from reputable sources.

 

[steveb4c]

collectibles insurance didn't want a list, just proof of ownership (like pics, receipts). must have a safe of 300+lbs. i got $7500 worth of coverage for $54. also if i add a gun or two, they too will be covered up to $5k before i've even made any policy changes. i sleep a little better when i'm out of town

 

[Ken451]

collectibles insurance didn't want a list, just proof of ownership (like pics, receipts). must have a safe of 300+lbs. i got $7500 worth of coverage for $54. also if i add a gun or two, they too will be covered up to $5k before i've even made any policy changes. i sleep a little better when i'm out of town

Is there a deductible?