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Gun Insurance?

Discussion in 'General Glocking' started by 60Pilot, Nov 15, 2010.

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  1. 60Pilot

    60Pilot

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    Do I need to insure my guns? Aren't they covered on my homeowners policy? My bank/insurance company USAA offers valuable personal property(VPP) insurance on top of the normal home owners insurance, and I'm just wondering of this is necessary for my guns. I do have VPP coverage for some jewelry, such as engagement/wedding ring, diamond neckless, and a blanket account for other jewelry, but is this really necessary for guns?

    Let me know your thoughts on this!
     
  2. milglock707

    milglock707

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    YES! All insurance policies place a maximum limit on what they will pay out if your guns are stolen. The insurance is cheap and is worth it if you have a lot of guns or some expensive ones (they pretty much all are).
     

  3. Jon_R

    Jon_R

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    It varies from policy to policy. My home owners insurance covers firearms but only up to $1500. If you want more you have to get a rider / modify your policy. Same with jewelery in my policy. There is a cap under the standard policy.

    I have been meaning to price it out. Maybe this will inspire me to finalize it this week.... :)

    In the past I did some research and found a lot of people had used this company for coverage but I could not find anyone who ever did a claim through them. If you promise to never put in a claim I will see you insurance. :whistling:

    http://www.collectinsure.com/
     
  4. Adjuster

    Adjuster

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    Yes you need insurance for your firearms. Standard HO3 homeowners insurance will only insure your guns up to $1500.00 or so depending on carrier. You can either ask your agent to look into increasing your firearm coverage or you can find separate firearm insurance. I understand if you are a member of the NRA they offer insurance. You do need to be aware that some insurance carriers will not insure 'assault' type guns and if you call one of these carriers to inquire about this it will be on your carrier record as a possible future risk. I don't think they will drop you but it will be noted as an insurance risk.
     
  5. RSki

    RSki

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    You will need to read your policy or ask your agent. Most policies have some value limit on loss of firearms and it is normally stated in the policy doccument. If the value of your firearms falls below that limit, you're good. If the value is higher, you'll need to buy additional coverage if you want them protected.
     
  6. DRGNSLR

    DRGNSLR

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    Yes! As others have posted, your HO insurance probably has limits or caps for firearms. I too have a USAA policy to cover about 15K in guns and 1.5 K in cameras for about $13/month. Worth it to me for dollar-for dollar replacement vs. depreciated/used value.
     
  7. CrackerKen

    CrackerKen

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    I have the firearms insurance through NRA. I also bought additional coverage through NRA. It's their ArmsCare Plus program. NRA doesn't care what kind of guns you are insuring, AR's, whatever...

    Doing a rider on your homeowners insurance is another idea. Your agent can help you "schedule" all of your firearms individually. Prices vary. Keep in mind deductible amounts and replacement cost insurance.

    Suggestion for everyone: I have a "Word" document that I created as a firearms inventory. It contains detailed written descriptions, imbedded photos, and imbedded scans of all my purchase receipts (where available) for every gun I own. That document is saved on my computer, and has been written to DVD's as backups. If anything is stolen, I've got the papers. I also have the paper, and not just the DVD's. This is VERY important when making insurance claims for stolen firearms. My photos are higher resolution, and I have photos of all serial numbers.
     
  8. 60Pilot

    60Pilot

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    My homeowner policy says this:

    $10,000 for loss by theft of firearms.

    Does this mean they are not covered should the house burn down?
    or
    Are they covered up to $10,000 for fire/theft...ect.
    The jewelry part says the same thing.

    I have 2 of my expensive guns on a VPP rider now, but I'm wondering if I should add the Glocks as they can be replaced for under $500/each.
     
  9. CrackerKen

    CrackerKen

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    As a rule, insurance policies say what they say. No more. No less. By scheduling your firearms individually, and paying extra, you may be able to insure them against all perils. The policy language you quoted says THEFT for firearms, and that's what it means.
     
  10. Ferdinandd

    Ferdinandd

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    As previously stated, talk to your agent and have them explain your coverage - that's what you pay them for. I had to add a rider to my HO policy to cover the potential loss of my meager collection. I also suggest recording all the serial numbers and keeping that list current - maybe take a photo 2-4x per year. If you can't substantiate ownership of guns claimed lost, that could also be a problem.
     
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