I need to get my insurance expanded for my firearm collection - My collection now exceeds what State Farm will insure on a homeowner's rider by a large margin and need to obtain a separate policy.
This is a two part/question post;
Part 1:
A) What is the Cheapest/Best insurance for a collector with a collection in the $100-200 thousand range? I am an NRA Life member, if it matters. Please cite any positive and negative experiences with your carrier of choice if you have had any.
B) Will any of them insure AMMUNITION, or just firearms and accessories? (I have a LOT of 50 cal; some of it is getting rather expensive - API, APIT, etc)
C) Do those carriers have any specific requirements for large collections?
Part 2:
A) What is the best way to (quickly/accurately) value firearms?
I thought about gunbroker, but some of my guns aren't even listed in current or recent auctions. I thought about using "the book" but that's not always really representative of a true value you can get on an open market.
B) Other guns have deep sentimental value (great-great-great grandpa's 12 gauge black powder breechloader), and while maybe not worth much of anything on paper, are worth a great deal as a family heirloom.
How should those be valued? Can you do declared, state value on firearms as you can with antique automobiles?
My local State Farm agent wasn't very helpful since he's never dealt with a situation quite like me before, and his company can't directly help me any longer.
Thanks in advance.
This is a two part/question post;
Part 1:
A) What is the Cheapest/Best insurance for a collector with a collection in the $100-200 thousand range? I am an NRA Life member, if it matters. Please cite any positive and negative experiences with your carrier of choice if you have had any.
B) Will any of them insure AMMUNITION, or just firearms and accessories? (I have a LOT of 50 cal; some of it is getting rather expensive - API, APIT, etc)
C) Do those carriers have any specific requirements for large collections?
Part 2:
A) What is the best way to (quickly/accurately) value firearms?
I thought about gunbroker, but some of my guns aren't even listed in current or recent auctions. I thought about using "the book" but that's not always really representative of a true value you can get on an open market.
B) Other guns have deep sentimental value (great-great-great grandpa's 12 gauge black powder breechloader), and while maybe not worth much of anything on paper, are worth a great deal as a family heirloom.
How should those be valued? Can you do declared, state value on firearms as you can with antique automobiles?
My local State Farm agent wasn't very helpful since he's never dealt with a situation quite like me before, and his company can't directly help me any longer.
Thanks in advance.