Insurance on Weapons...

[SilentStalker]

Ok, guys I have done about all I can to protect my stuff aside from having insurance for them on top of my homeowners. So, I talked to my agent and we got an immediate $5000 coverage on them for $15 a year. Now this is temporary because that was all he could do until I was able to give him a thorough list of stuff. However, we all know that $5000 is nothing when it comes to these things. I have scopes alone that are worth $3000 each. So, I was getting ready to email him what I have but then wondered if this was a good idea. The good news is that he did not ask for serial numbers, he just wanted make and models of stuff and how much they are worth. Another thing I am wondering is if this is going to cover the weapon and all accessories including scopes and stuff or if this is weapon only? I guess only he can answer that. Anyways the reason i am bringing all of this up is because I am wondering if its a good idea to tell him or not. I mean sure he doesn't have serial numbers but he will know what I have and the value. Granted I realize there is no other way to get coverage, I guess, but I dont see why they couldn't just set up a blanket policy for say $50k without having to know all of this stuff. Thoughts?

 

[M2 Carbine]

This comes up from time to time.

Since my gun shop burned down in 1995 I have some experience with gun and gun equipment loss.

EVERYTHING was covered and I received CURRENT value on 7 guns, 23,000 rounds of ammo, many thousands of cases, primers, bullets, powder and everything else in the shop, including the shop.
The $300 shop was replaced with a $5,200 Morgan building, since the inside of the building was fixed up.

The insurance company had NO records on the guns, or anything else. I did have a LOT of pictures.

I actually made a lot of money due to everything being covered at it's current retail price.
But like in all fires I lost a lot of stuff that can't be replaced, like my military records, pictures, etc.

Take pictures of EVERYTHING, even stuff you don't think you need a picture of. Pictures of the inside of my shop came in very handy for me.

Everything was paid as "personal property", even the building.


I've been insured with Allstate for years. They do not require gun records, and I would not give it to them anyhow.

ALL the stuff, as in the past, is covered by the "personal property" coverage in your insurance policy.
In other words, if your personal property loss could be $100,000, you want enough coverage to cover most of that.
Chances you aren't going to lose EVERYTHING at one time.

Go over your policy in detail and don't just trust the word of some local agent selling insurance policies. Make them explain in detail what coverage is spelled out in your policy.




BTW, loose ammo in steel military ammo cans can blow up with some force.

 

[Keb]

I think the best deal is Eastern Insurance, their agency called www.historicfirearms.com

Minimum policy is $35000. Their web page has sample rates, and they are far below collectinsure. No serials.

There are previous threads here all about gun insurance.

 

[rockhopper46038]

I'm with collectinsure and don't have any complaints, but I'll look into Eastern.

 

[oneounceload]

^^^ here is the web site for those who might be interested

http://www.collectinsure.com/

 

[slumlord44]

That comes to a little over $300 for $100,000 in coverage if I can still work a calculator. Actually not too bad. Gets more expensive if you add ammo and accessories. My homeowners has specific limits on guns and going over their limit gets expensive. Need to check if accessories, ammo, reference books etc would be covered under the personal property clause. Could be helpful.