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Firearms insurance

1921 Views 30 Replies 22 Participants Last post by  M2 Carbine
Since losing all my guns in that boating accident years ago, I thought that any new ones should be covered by insurance. Problem is our home owner's policy requires me to itemize, photograph, and give the list to them. Not really sure I want to do that. Plus my home owner's deductible applies, which means if only four or five were stolen, it wouldn't even be worth claiming. NRA has coverage I think, but the last time I looked, it was very expensive.

What do you guys do for insurance and if you ever filed a claim how was the insurance company to deal with?

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Ive bought extra insurance through the NRA for past 10 years or so. For about $150 a year, I have my meager stash pretty well covered. Is that too much money for extra peace of mind? Only you can decide, but for me i decided it was worth it. After a rash of local break ins targeting firearms, i bought extra insurance and a quality safe. No regrets.
I have Allstate, and firearms are covered under sporting equipment. I just tell them I want X number of dollars worth of sporting equipment coverage, and that's that. They don't ask for any further details.
Our home owners covers us for whats normally in a home, Just ask you may be automatically covered up to 2500.00 if that is not enough,then you schedule your property and they have a fee for it, could be 10 cents per thousand dollars or it could be $100.00 per thousand . they are hedging your not going to have a loss and you are hedging you are going to have a loss.

I am not insuring as I have a fire safe so I should have no damage and the safe is also impossible to enter or remove from the house as its currently configured.
I would invest in a huge, top of the line safe and bolt deep into the foundation. Fire-rating and ability to break in to. You could add extra fire protection to it by your self easily if needed. If you need a smaller safe upstairs, get a small high quality safe that really only needs to hold a long gun and nightstand pistol plus some mags. The older, no longer made, handed down items like furniture and paintings should be worth whatever you tell them they are worth to you. If you wanted to replace certain things it could take months or years of searching to find a replacement (which would never really be a true replacement of course) and the cost may be 2 - 2,000,000 times what it cost new back in 1776 for example. They won't ***** about you upping your insurance to the next level unless you have a history of making claims with your insurance company due to theft and/or fire. If you move, you take your insurance policy with you and have something worthy and costly to hand down.

I'm not in the insurance business but I did stay at a Holiday Inn last night (really). Pretty nice, lot's of pillows and very quiet.
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I think you get free coverage with the NRA, but it's only $2500, I think. The company is ArmsCare. Looks like it's $65 per year for $6500 in coverage.

However, I've read that they are weird about claims. You are probably better off getting insurance through your homeowners or renters policy.
I finally signed up with Arms Care yesterday. My homeowner's won't give me a rider beyond a few thousand dollars of coverage. This is part of the policy:

"If applicable, please submit any required documentation (original signed appraisal and a clear photograph) for any single firearm that is $20,000 or greater in value or any single firearm valued at 120% or more of the blue book value."

Not applicable until I buy that M-16!

Coverage does not apply to:
"J. to ammunition, bayonets, knives, binoculars, hunting glasses and spotting scopes.

L. to clips, magazines, holsters and gun cases unless the firearm they are used with is part of the loss claimed."

They cover replacement value and do not deduct for depreciation.

There is a $100 for every claim, not for the entire year.

I'm paying $12.37 per $1000 of insurance per year. The $2500 of free insurance I get as an NRA member is factored into that average.

I haven't made any claims so I hope they're not "weird" about it them if I do have to make a claim.
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+1 on Jack at historicfirearms.
Homeowner's insurance through USAA with a VPP (Valuable Personal Property) policy for firearms. My guns are covered against everything. I could be showing off a $10k custom rifle to a friend and he could drop it and it would be covered. No deductible. I've had them for years and years. No idea of the cost now since my wife does all the insurance stuff. I know years ago when my collection was more modest, it was about $12 a month for $15k in coverage.

USAA only insures veterans, though.
My homeowner's coverage includes $2,500 in firearms and then up to $10,000 On a separate rider that only cost me $179 for the year. They just required a list with serial numbers but no pictures, not a big deal to me because I know they are covered.

I just renewed my homeowner's policy (Allstate) a couple weeks ago.

Like always, all the guns, gun equipment and even ammo is fully covered, as personal property, at replacement value up to the limit of the personal property coverage.

I have complete records of the guns but the insurance company does not.
I would switch companies before I would give them any gun information.

Like I said earlier, my gun shop burned to the ground.
Even then all I was asked about the seven lost guns was what would it cost me to replace the guns.
The insurance company gave me that amount.
They even paid me replacement cost for all the thousands of rounds of reloaded ammo. Plus they offered me extra money (which I refused) for my time to reload the ammo.

Be sure to FULLY understand your policy. When you have to make a claim is no time to learn what the small print means.
TAKE PICTURES OF EVERYTHING and I mean everything.
The pictures and my word was all the insurance company required to pay for everything.

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