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Do you have firearms insurance?

Discussion in 'The Okie Corral' started by SVTNate, Feb 21, 2012.

  1. SVTNate

    SVTNate Packers fan

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    ...beyond the $2500 you get with NRA membership, I mean.

    I have been considering firearms insurance and was wondering what you guys have, and what you pay. I know that the NRA has a partnership with a company that offers it for fire/theft beyond the standard $2500 NRA insurance you get with membership, but I haven't asked for a quote and I'd like to know what you guys have got. I'm curious what I should expect to pay, as well.

    I'm happy to discuss this via PM if people don't want to discuss dollar amounts.
     
  2. HollowHead

    HollowHead Firm member

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    Farm Bureau (which underwrites my house, land and buildings) coveres everything including my guns, archival art and the wife's jewelry. I just had to include them and put riders on the stuff over $99K. HH
     

  3. Javelin

    Javelin Got Glock? Silver Member

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    Yep. I have a rider policy on my homeowner's insurance.

    :wavey:
     
  4. SVTNate

    SVTNate Packers fan

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    Do they require serial numbers?

    I don't own my home. While homeowner's may cover it... it's not my homeowner's policy. I'd be very surprised if they'd cover guns legally owned by someone living there, but not named on the policy.
     
  5. HollowHead

    HollowHead Firm member

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    I've had problems in the past trying to get firearms coverage in a rental. I did find one, but with my then-spartan collection (NYC), the premiums could have bought the entire collection in eighteen months. I went uninsured. HH
     
  6. Javelin

    Javelin Got Glock? Silver Member

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    My insurance requires a description of the item (Manufacturer, Model, Type, Caliber, etc) mostly because they verify what the item is online Google search.

    They would like SN#s but it is not completely necessary under my insurance plan.
     
  7. Anthony.L

    Anthony.L

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    Yes, I have my homeowners through State Farm with a separate rider for the full replacement value of my arsenal. The default homeowners policy only covered up to $2000 and only from fire not theft.

    State Farm wanted a list of my firearms with model number, serial number, and replacement value.
     
  8. SRS

    SRS

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    I have my firearms covered through a rider to my homeowner's policy. Recently, my new agent told me that I'd get equal coverage cheaper through NRA's partner, so I am in the process of getting that done. It's definitely not cheap through either route. My insurance carrier didn't require any appraisal or receipts, but I'd certainly need to prove actual ownership if I needed to file a claim.

    In the past, I had a rider to a renter's policy. That was a pain. The insurance company initially insisted on an appraisal, rather than receipts, in order to write the policy. That simply didn't make sense given the cost of an appraisal and my collection at the time. Eventually, I was able to get them to simply accept the receipts. Nonetheless, I always expected a big fight if I ever needed to file a claim given what an enormous pain it was to get the coverage.
     
  9. Psychman

    Psychman NRA Life Member

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    Yup. I have a rider with no deductable. Thanks for reminding me. I need to increase the coverage.
     
  10. Kentucky Shooter

    Kentucky Shooter NRA Life Member

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    I buy an extra policy from NRA to take me from the basic $2,000 my son and I have in member benefits coverage to around $10,000 in total coverage. This costs me about $150 a year. No serial numbers required, unless of course you have a claim at some point. With inflation and replacement values it is debatable if this has me covered in dollar value for everything I have, but would certainly help a lot. I could extend my coverage, but just haven't gotten around to doing so. After a rash of local break ins a few years ago, I took the extra insurance and bought a browning safe. I felt the safe was the best money I could spend to actually help.
     
    Last edited: Feb 21, 2012
  11. costanza187

    costanza187 I like Macs

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    I have Farm Bureau, and yes...not only do they require serial numbers, they require receipts. I do not really like that, but what am I gonna do?
     
  12. glockaviator

    glockaviator

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    If they are not excluded in the policy, they are covered like any other household goods.
     
  13. jwhite75

    jwhite75 Gubmint Worker

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    My buddy has this. He has a large collection of very exotic firearms. Big investment pieces. He researched for quite a while and this is what he chose. Your premium is based on some any dollars per thousand of worth of your guns and all assoicated quipment and accessories. My buddy only buys what he thinks is the best and he says this company is GTG.

    The guy he deals with is named John Richardson. Says he is a great guy and also a shooter. Might be worth a look.

    https://www.easternbank.com/site/personal/insurance/Pages/other_insurance.aspx
     
  14. Hines57

    Hines57 Simple Member

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    Most polices have "special limits" on collections, usually $2500.

    Don't let Bren know you have a collection. :supergrin:


    .
     
  15. Rancher

    Rancher

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    Yes, through American Family Insurance. I had to get an appraisal of my collection. This was done through a local pawn shop that I do my FFL transfers through. Insurance company did not care if he was an "expert". I went in with a list of my stuff, told him what I thought it was all worth and he said "OK" and for nothing listed it on his business letterhead which I took to my agent.

    My agent also offered to keep photo's in his safe of all my firearms as well as serial numbers. At the moment I can't remember the exact price I pay for the extra on my firearms but also did a seperate rider for my wife's wedding ring which includes theft or loss.

    In recent years my ammo supply has gotten HUGE like a lot of folks has and I asked if I could have that insured as well. I was told that ammo is like personal property and is covered for fire and theft and no extra insurance was needed as my homeowner policy covered it. I do have to keep it documented though.

    Even with two safes I feel a lot better knowing I am covered should something happen to my collection.

    Rancher
     
  16. sbhaven

    sbhaven

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    Allstate didn't bat an eye when I asked them about additional coverage for firearms. The agent claimed, at the time, that there is already some coverage, up to $2,000 (I think) in the policy I have. They classify firearms and their accessories as 'sporting equipment' or something along those lines. For additional rider coverage they wanted receipts of the gun purchases or a signed appraisal letter so they know the value of the firearms

    I asked the agent if there was a discount on coverage if one used a safe or have the trigger locks on the guns. His response was, unlike a home security system, they didn't offer rebates/discounts if one use a safe to store firearms or have trigger locks on the firearms.
     
    Last edited: Feb 21, 2012
  17. Reyn

    Reyn Times Up

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    Use too. Had pics and all serial numbers with value. Then i hit hard times and sold most of them. I THINK it was like 7-8 dollars a month?
     
  18. jwhite75

    jwhite75 Gubmint Worker

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    I dont think this company even required an appraisal.
     
  19. SFCSMITH(RET)

    SFCSMITH(RET)

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    No, they are not. Neither is art, jewelry, wine collections, etc.

    Trust me. Insurance pays the bills in this house, I know more about that crap than any man should.

    We have ours covered by the NRA partner.

    EDIT:
    Decided to expound.. If you have a "total loss" ie: fire or other total loss of home and contents, they are "covered" by whatever contents coverage you have. For instance my home is insured for $325k, and my contents are covered at 80%, meaning the value of the contents of my home are agreed to be worth 80% of the value of my home (this is NOT a standard percentage, check YOUR policy) So in the case of a covered "total loss" my payment from the insurance company would by $325K for the house and $260K for the contents. $585k.

    But in the case of theft or other loss of only the firearms or my vintage bourbon bottle collection, firearms and other collections are only covered for 2k in my policy. "Scheduling" them with my homeowners would cost about double the cost of the NRA's premium for the amount I have insured.
     
    Last edited: Feb 21, 2012
  20. vart

    vart

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    I have a VPP(Valuable Personal Property) policy through USAA. Homeowners will only cover up to $2000 and does not cover loss or accidental damage, and the deductible applies.

    I have around $16k in coverage for around $10 a month... I am covered for just about everything and have no deductible.