Insuring your firearms

Discussion in 'General Gun Discussions' started by stonecutter2, Mar 10, 2011.

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  1. ColtPythonElite

    ColtPythonElite Member

    Jan 8, 2011
    Less than 6 months ago, I spoke to my agent about adding additional coverage beyond my homeowner's 5k limit on theft... The cost was $1.80 per $100. They wanted either receipts or appraisals to prove value....Pretty steep, IMO....The only good thing was the insured items would be covered for losses anywhere, not just at my home.
  2. Water-Man

    Water-Man Member

    Mar 22, 2008
    North Florida
    I have a separate gun insurance policy only with USAA. $15,000. for $240.00 yearly.
  3. Buck Nekkid

    Buck Nekkid Member

    Sep 19, 2005
    Deep in The Heart of Texas
    Please keep in mind that if you are depending on your homeowners insurance to protect your gun collection your losses will be subjected to the policy deductible. Some policies have "internal" limits on guns and other valuables such as musical instruments, fur coats, and jewelry. The "internal limits", such as $5,000 total for all losses to firearms, is also subject to the deductible as well.

    The best way to cover your firearms on your homeowners policy is to "schedule" them on what is called a Personal Articles Floater. This is an attachement to your policy and the rate is so many cents per dollar of value. Scheduling your property does several important things. First, no deductible. Second, world wide coverage. Third, established value for each firearm.

    Even though I'm in the insurance business, I insure my firearms collection with an 800 pound safe and my "free" NRA insurance.
  4. Toforo

    Toforo Member

    Feb 13, 2011
    Columbia, MO
    American Family here - policy came with a 5K limit on firearms and ACCESORIES (to include ammo, holsters, reloading equip, etc)

    For an additional $9.00 (nine) per year I can up it to 10K - after that, it DOES go up considerably (but not much considering the value of what I'm protecting)
    (I'm also a Life Member of NRA which gives additional coverage)

    It's simply adding a "rider" to exceed basic coverage, just like additional insurance for jewelry, etc.

    At this level there is NO REQUIREMENT (from AmerFam) for a safe, the serial numbers, an inventory - nothing... UNTIL there is a claim and then - you BETCHA' they wanna' see proof!

    However, my insurance guy IS a gun-guy too and he did remind me to keep PROOF (videos, receipts, pics, etc) in a SEPERATE location other than my home/place of storage. I keep copies in my fire/water resistant safe - and originals in a bank deposit box (which was his recommendation as well)
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