Insurance....you need to think about it.

Discussion in 'General Gun Discussions' started by Remington1911, Aug 8, 2022.

  1. patmccoy

    patmccoy Member

    Joined:
    Sep 14, 2013
    Messages:
    239
    Location:
    Central Montana
    I'd be interested i n where you got your information. Insurance policies differ considerably from state to state. For the 33 years I was an agent firearms were considered "personal property" for most losses, but had a limit for theft (which could be easily increased without serial number) but for which strongly recommended photos and receipts or current estimates be kept outside the home. I offered my file drawer, but did not require the client to use my storage. "High Valued" firearms (over $2500 at that time) needed specific identification and appraisals, with a copy to the company.

    This is true of everything in your home and garage. Not just drawers, but pics of all walls with decorations. It proves the existence of the lost item, and helps confirm the quality (thus value) of the items.
     
  2. Bayou52

    Bayou52 Member

    Joined:
    Apr 17, 2016
    Messages:
    301
    I have homeowners insurance through State Farm.

    State Farm also offers a personal articles policy of insurance which could include any type of personal items you may wish to list, and I assigned the final insured value to each item.

    So, I listed a bunch of firearms on the personal articles policy of insurance and I am charged a separate premium for this separate policy.

    I would be more than certain that other insurance companies have similar types of personal articles policies of insurance to offer.

    Bayou52
     
  3. Ignition Override

    Ignition Override Member

    Joined:
    Sep 15, 2007
    Messages:
    8,407
    Location:
    The Mid-South.
    USAA Insurance, based in San Antonio.
    I've used them since 1980.

    800-531- USAA
    800-531-8722
     
  4. buck460XVR

    buck460XVR Member

    Joined:
    Feb 6, 2007
    Messages:
    9,260
    My agent put a rider on my guns because like most folks have already said, your general homeowners insurance limits what it will pay out for guns that aren't claimed. According to my agent, like jewelry, guns are one of the most common fraudulent loss claims after a fire or break-in. What I did was make a list of my firearms and their approximate value. I also took pictures. Iffin I remember correctly, I did not have to give the serial numbers to my agent, but I do have a record of them. The cost of insurance was based on the total value I put on the guns. Thus....if I inflated their value, I paid for it. Don't exactly remember what the cost is per year, I know it sounded high at first, but after I looked at what my collection is worth, I realized it is well worth the cost.
     
    Mark_Mark likes this.
  5. Remington1911

    Remington1911 Member

    Joined:
    Feb 23, 2022
    Messages:
    849
    What I did was make a database, it has when I bought it, what I paid for it, what it is including SN# if applicable, and a date with cost on what they are "going for" on that given date, also several photos of it including the SN#. I doubt many "gun nutz" will see this as a chore, it is actually fun. You get to fondle long lost loves, take photos, and see just "what they are worth now". After you get done, put them all on a DVD, thumb drive, whatever and store that someplace else, mine is with the inlaws.

    The costs for the insurance itself is not that bad at all. It is a little like the costs on the classic cars or bikes.....I think my Triumph is like $30 per year, it is not a daily driver so likely nothing will happen to it.

    Even if you are not good with a computer, take photos of all your girls and just print them out and store them someplace off site. Personally I would use something other then your cell phone as I don't think Google or Apple needs to know what I have, and I think they know everything....but that is a topic for another thread and from what I understand not here.
     
  6. Mark_Mark
    • Contributing Member

    Mark_Mark Contributing Member

    Joined:
    Jan 9, 2021
    Messages:
    9,786
    you can store files in your email and label them as something else. or encrypted them. Or make a good old photo album and keep it in a different location from the goods
     
    DoubleMag likes this.
  7. Yo Mama

    Yo Mama Member

    Joined:
    Jun 4, 2008
    Messages:
    3,201
    Check your state laws on insurance coverage requirements. Where I live guns, ammo, accessories, and knives are under personal property. No additional insurance is needed.
     
  8. jmorris

    jmorris Member

    Joined:
    Sep 30, 2005
    Messages:
    20,393
    R&D, I don’t work for free. ;)
     
  9. Bush Pilot

    Bush Pilot Member

    Joined:
    Oct 17, 2007
    Messages:
    2,132
    And make sure everyone is home if there's a problem.
     
  10. Mark_Mark
    • Contributing Member

    Mark_Mark Contributing Member

    Joined:
    Jan 9, 2021
    Messages:
    9,786
    Just covering my outs
     
  11. CapnMac

    CapnMac Member

    Joined:
    Feb 27, 2009
    Messages:
    14,120
    Location:
    DFW (formerly Brazos County), Texas
    Good rates, and definitely goes to some trouble to tailor coverage to your State's Regs.
    When I asked about a firearms rider, they were a bit stuffy and wanted documentation to support the insured amount.
    Eastern did not.
     
  12. patmccoy

    patmccoy Member

    Joined:
    Sep 14, 2013
    Messages:
    239
    Location:
    Central Montana
    As in all insurance policies "the large print giveth, but the fine print taketh away". READ your homeowners policy with special attention to the sections marked "limitations and exclusions", as well as any section marked as "special limits to coverage". Under one of those is the usual place for limiting firearms coverage to some specific amount or/and limiting the amount for theft to lower than the total amount on firearms. Highlight what you find, then meet with your agent to discuss it.
     
    Yo Mama and ColtPythonElite like this.
  13. Mark_Mark
    • Contributing Member

    Mark_Mark Contributing Member

    Joined:
    Jan 9, 2021
    Messages:
    9,786
    mabey it’s best to cosmolean all your guns with heavy grease and wrap in a stong plastic and store in a underground container or secure out house. Then bring in the guns you shoot.
     
  14. GE-Mini-Gun

    GE-Mini-Gun Member

    Joined:
    Jan 15, 2004
    Messages:
    370
    Location:
    Virginia
    Post #4 is your answer as mentioned...I shoot with some machinegunners that have collections valued well into the 6 figures, everyone of them use eastern
     
    ColtPythonElite likes this.
  15. N555

    N555 Member

    Joined:
    Mar 9, 2022
    Messages:
    1,002
    Location:
    New Mexico and Texas panhandle
    I have usaa and put all my current and planned NFA items on a "valuable items policy".
     
  16. old lady new shooter

    old lady new shooter Member

    Joined:
    Apr 26, 2015
    Messages:
    24,496
    Yep, my homeowners also covers $5000 and the free NRA insurance is another $2500, so I also don't need to buy any extra. I actually just changed insurance companies and in the initial conversation when I asked about the firearms limit the agent added that the limit is only for theft, for fire there is no limit. Which for me makes no difference but I thought it was interesting.

    ETA: After I posted the above I noticed that @ColtPythonElite already mentioned the theft vs fire point.
     
    Last edited: Aug 11, 2022
  17. old lady new shooter

    old lady new shooter Member

    Joined:
    Apr 26, 2015
    Messages:
    24,496
    I did not even have to give descriptions, much less s/n's.
     
  18. JohnKSa

    JohnKSa Administrator Staff Member

    Joined:
    Jan 1, 2003
    Messages:
    18,401
    Location:
    DFW Area
    The OP has a good point.

    I've talked to people who've had their house burn down. The common theme seemed to be that the insurance company was extremely helpful in terms of replacing the house up to the coverage limits.

    They were also very helpful in terms of replacing the items inside the house--but ONLY if the homeowner could prove ownership.

    In other words, the fact that you have $10K of firearms coverage doesn't necessarily mean they're just going to write you out a check for that amount after a fire. You may have to prove that you had at least $10K worth of firearms at the time of the fire. If you can't prove you had any firearms, you could get nothing.

    1. Look at your contents coverage and make sure it covers what you want covered and to the proper amount. Make sure you understand your policy.

    2. Find out what the insurance company will accept as proof of ownership and make sure that you follow their instructions and then store that proof somewhere secure.

    Different companies may handle things differently--the key is to make sure you know what the situation is ahead of time.
     
    DoubleMag likes this.
  19. Jimbo80

    Jimbo80 Member

    Joined:
    Oct 26, 2020
    Messages:
    737
    Location:
    Florida
    ColtPythonElite likes this.
  20. hdwhit

    hdwhit Member

    Joined:
    Nov 16, 2015
    Messages:
    4,948
    Location:
    Salem, AR
    My three center-fire, two rim-fire rifles, one shotgun and two pistols can be replaced for about $3,000. If the loss is more than that, I'll "stand the gaff" for the remainder (rather than paying an additional premium).
     
  21. Thomas Mayberry

    Thomas Mayberry Member

    Joined:
    Jul 28, 2018
    Messages:
    245
    I just added coverage for my firearms since the basic homeowners didn't go far enough. $10,000.00 in coverage came to just $65.00 a year extra. I'm in the process of getting values for my wife's jewelry to increase coverage on them.
     
  22. berettaprofessor

    berettaprofessor Member

    Joined:
    Mar 25, 2008
    Messages:
    3,076
    Location:
    Kansas
    See, the basic problem with that idea is that the serial number might not change, but I keep upgrading things; scopes, handguards, lasers, etc and the pictures never look like the guns I currently have.:what:
     
  23. Zerodefect

    Zerodefect Member

    Joined:
    Mar 28, 2009
    Messages:
    6,302
    Location:
    Yakutsk, Sakha Republic
    Meh. If my house burns down, it gets rebuilt and my property value doubles.

    I'd give you my guns if you........

    I'll have to get around to checking what my insurance covers.
     
  24. Dudedog
    • Contributing Member

    Dudedog Contributing Member

    Joined:
    Oct 19, 2013
    Messages:
    6,708
    Location:
    Southern CA
    I had a fire in my house years ago.
    As mentioned earlier it is a good idea to take pictures of all your stuff, all of it, clothes, dishes etc.
    Put the pictures on a flash drive (or DVD(s) ) and store them someplace off site, a relatives house, your safe deposit box etc. (2 copies in to two places is better)
    You can zip up the pics (tell your zip program no compression because pictures don't compress much if at all) and you can encrypt the zip file.
    Low grade encryption but good enough to stop the average person if somehow the flash drive was to fall into the wrong hands.

    I went thru the insurance asking what was it, when did you buy it, how much did you pay routine.
    Of course all my receipts in the file cabinet burned up, so it's not a bad idea to take pictures of receipts for high value items to.

    Easy not to think about this until it happens to you.

    BTW I had fire extinguishers, I went to the fire with one in hand and saw it would be like peeing in the wind and decided to exit stage right ASAP.
    Fires can grow far quicker than you can imagine if you haven't had one.
     
  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice