Homeowners insurance on your firearms

Status
Not open for further replies.
I've never had to file a claim, but I use Collectibles Insurance for my guns. Their coverage costs about $8 per $1,000 worth of firearms, per year. They've always responded rapidly and professionally to any inquires I've had to make. As I understand it they will pay for the cost to replace the gun that was lost in the claim.

They require only the make, model, and description for each gun up to a certain amount. They do not need serial numbers to insure your guns, but you do need to keep a private record of your serial numbers, in case of a claim.

Here's their rate sheet:
http://www.collectinsure.com/rates/2008GunCollectorRateSheet.pdf

As other people have mentioned in this thread, it is important that you take pictures or videos of your guns, recording serial numbers and condition. Keep a copy of this data off site with a relative or in safe deposit box. You'd hate to lose your records and your guns in a house fire and not be able to back up a claim.
 
Yesterday I went to my Ins. Co., St. Farm, to update my car and home insurance policies.

I found out that my firearm coverage is $2000 with a $5000 max. I told the agent that would not be sufficient coverage and the agent informed me about getting a seperate rider that would insure my entire collection for a little over $200 per year.

Now get this....and I plan on doing a little more investigating.......If something on one of my firearms breaks, the separate rider will also pay for gunsmithing repairs.....and there is no deductible for replacement and/or repair.

Do any of you, Ratshooter especially, have any knowledge of this section of the rider?

Thanks in advance!
 
Now get this....and I plan on doing a little more investigating.......If something on one of my firearms breaks, the separate rider will also pay for gunsmithing repairs.....and there is no deductible for replacement and/or repair.
Click to expand...

Riders generally are "All Risk" policies so anything not specifically excluded is usually covered. Read the exclusions carefully. Also watch for how the value is determined, is it actual cash value at the time of loss, replacement cost, etc.

Those can vary greatly.

But yes, it's certainly possible that gunsmith repairs, or even just losing the gun, could be covered with all risk policies.

Also watch for how the company deals with claims on this kind of thing. Some states allow for rate increases based on numbers of claims etc.
 
I have Farm Bureau Mutual Insurance

I'm covered up to 10,000 on firearms and accessories.

I brought an additional 8,000 from NRA Arms Care for 132.00 a year.

The NRA also gives me 1,000 in coverage with my membership.
 
It is for replacement cost.

I will be emailing my insurance agent to send me more information. Any and all suggestions for questions etc....y'all have, are appreciated.
 
Most standard homeowner policies cover about $2500 without a separate rider. They would do the same if it was art, jewelry, coins, etc. After looking at my guns, they suggested a "self-insurance" rider - i.e. a good gun safe
 
I have used Collectibles Ins for a few years and have been happy with their service. I've had no claims. It is about $8 per $1k coverage. My homeowners policy requires a rider for any firearms and the rate is much higher. I also carry a high deductible on my homeowners policy, and the rider would have this same deductible.
 
I would almost hesitate to involve the insurance company if I were robbed again.
Had $5k in recording equipment stolen several years back. I supplied photos of everything, serial numbers, receipts, and the boxes the stuff came in. They gave me a tad over $4k for the loss.
Then a month later I got a notice that my deductible was being raised to $1,000 due to "excessive claims".
I had made a grand total of one claim in 30+ years. That's excessive??
 
I had made a grand total of one claim in 30+ years. That's excessive??
Click to expand...

To the insurance company, it is. :uhoh:


They actually had a write a check. Shame on you they believe. :(
 
Coverage is all over the map. Depends on each specific company.

I had a separate rider. Each covered firearm was scheduled and photo'd. In my case, I paid and was covered on my stated value. I've sold most of my guns so I dropped the rider. Base coverage is $5000 on my policy.
 
Can You Trust Insurance Companies With Your Precious Possessions At Stake~?

I think NOT~! :banghead:

Here in the southeast U.S.A., I have Alfa Insurance on my home, vechiles,
and of course MY firearms. I would not trust them, "no further than I could
see them" - which is not far enough~! :cuss:

FWIW- I had better leave it at that, for the moderators would kick me off
The High Road if I said what I really want too say~!
 
From experience, I would advise all of you to go around your house with a video camera once a year.
Click to expand...
A + 1 to that, and remember to keep the tape/CD somewhere other than your home.

My H.O.I. came do at the same time I purchased my latest M-27 so I took a long hard look at my coverage. My policy covers up to $2,50.00 for EACH firearm, I was told that this is about normal. :rolleyes:
 
If you are a Veteran or are currently in Uniform I recommend Armed Forces Institute Insurance out of Leavenworth, Kansas. They don't ask for a detailed inventory of your firearms and there is no additional rider on your insurance policy, in other words if the contents of your house are insured for $100,000.00 your firearm collection is insured for $100,000.00. Most of us including myself do not have a gun collection worth anything close to that but it is comforting knowing whatever your gun collection is worth that it is covered. Their rates are reasonable also. +1 on keeping a video of your firearms collection and all of your belongings in a bank safety deposit box.
 
Ala Dan said:
I think NOT~! :banghead:

Here in the southeast U.S.A., I have Alfa Insurance on my home, vechiles,
and of course MY firearms. I would not trust them, "no further than I could
see them" - which is not far enough~! :cuss:

FWIW- I had better leave it at that, for the moderators would kick me off
The High Road if I said what I really want too say~!
Click to expand...
It is a sad state of affairs when we have to pay someone we don't trust to possibly cover a loss. Kind of like politics; choose the best of two evils.
 
we have to pay someone we don't trust to possibly cover a loss.
Click to expand...
There is a lot of very bad information in this thread, but the quote above is the truth.
A lot of you guys THINK your insurer will cover your loss when you file a claim, but only they will make that decision, not you.
 
jcjacobvt is right, invest in a GOOD gun safe instead if lots of insurance riders. Note I sand a SAFE not a RSC which is what most people have.

We built a custom home many years ago and I had built into the home a walk-in gun roon with a high grade vault door built into the home and sunk into the concrete foundation. Half inch thick plate on the door and 3/8 plate all around the perimeter and top, with a silent alarm separate from the house alarm. We have been broken into two times since building in 1983 and not one single thing of eral value has been taken. One of the kids' piggy banks was taken and a few pieces of the wife's junk jewelry were taken but no guns or good jewelry.

I can't recommend a good safe enough. I don't carry any excess insurance on my gun collection at all.
 
Status
Not open for further replies.

Similar threads

Bobson
  • Locked
Homeowner’s Insurance?
2
Replies
29
Views
2K
CapnMac
CapnMac
S
  • Locked
Firearms Insurance?
2
Replies
34
Views
3K
iShoot17
I
T
  • Locked
What does your Homeowners Insurance cover for Firearms?
2
Replies
26
Views
5K
a1abdj
A
O
  • Locked
Homeowner's insurance policy relative to firearms
Replies
24
Views
1K
Sniper66
S
B
  • Locked
Homeowners policy and guns
Replies
10
Views
969
Jim K
J
Back
Top