Jump to content

Recommended Posts

I have an endorsement that adds 5k in coverage for guns to my homeowners policy. The most that my insurance company can write is 5k. I was thinking about finding a company that could insure my firearms only. I know there are some programs out there. Does anyone know anything about them?

Edited by MAA
Link to post
Share on other sites

I have State Farm Insurance on my home and cars. I wanted to insure my wife's jewelry and my firearms.

 

I bought a separate Personal Articles Policy from State Farm that covers her jewelry and my guns.

It has no deductible and pays for replacement of any item lost, stolen, destroyed,etc.

 

I pay about $10 per $100 of insured items.

 

louielouie

Edited by louielouie
Link to post
Share on other sites
I have an endorsement that adds 5k in coverage for guns to my homeowners policy. The most that my insurance company can write is 5k. I was thinking about finding a company that could insure my firearms only. I know there are some programs out there. Does anyone know anything about them?

 

thanks for bringing this up maa

i need to do it as well

Link to post
Share on other sites

Armscare Plus has been great for me.

 

It's the same insurance that the NRA gives you (basic membership covers $1k) but you can call them and get more (I did). Rates are great and they don't require serial numbers, except on item $1200 or more (I think that's the $ amount)

 

$1.66 per $100 of coverage a year.

http://www.locktonrisk.com/nrains/armscare.asp

Link to post
Share on other sites

They write through the NRA. Their rates are 1.66 per hundred, which I think is a little pricey. Anyone know if this is the best option out there?

 

 

http://www.carpenterinsurance.com/

 

That's the first thing I found with a search.

Link to post
Share on other sites

This has been on my mind for quite some time and this post gave me incentive to actually check up on it. I did a search on this as well and came across this article. It about sums up what I will be doing next week.

 

What to do About Insuring a Gun Collection

by John Ross

I am often asked about the best way to insure a gun collection. Many people advise insurance through the NRA or some other place that "specializes" in insuring guns. I have to say I disagree with the people who recommend this or any other type of add-on insurance. It is much too expensive per dollar of coverage.

What you want is not separate firearms coverage but a homeowners policy that DOES NOT HAVE A GUN EXCLUSION. Get "Replacement cost contents, all risks" on your homeowners policy from a company that sells a policy without a gun exclusion.

A company will sell different policies with different names, like "Prestige Plus" or "Platinum" or whatever. Different policies exclude different things. (Cash is always excluded, or excluded above a small maximum amount. Jewelry is also.) I had a policy once which for some reason excluded anything aviation-specific. The only things I had like that were two parachutes and two headsets, but if they had been stolen or destroyed in a fire they would not have been covered. Excluded items like jewelry must carry separate (expensive) riders in order to be covered. Find a policy that DOES NOT EXCLUDE GUNS.

Typically the contents on a homeowner's policy are half the replacement cost of the house, but you can get them to make it more by paying a slightly higher premium.

Example: Your house would cost $200,000 to replace on the existing lot if it were completely destroyed, so you have a $200,000 homeowner's policy. You are typically covered for another $100,000 worth of contents loss due to theft, fire, tornado, etc. If there is no gun exclusion on your policy, it can be up to $100,000 worth of guns. If your gun collection and the other contents of your house are together worth more than half the value of your house, get a quote for a policy on a higher contents value, if a single event could cause you to lose all of your guns and everything else at once.

If it's written as a REPLACEMENT COST CONTENTS, ALL RISKS policy (which is what you want,) that means if you take your expensive double rifle to Africa and it gets lost/stolen/confiscated/falls in the river, it's covered for whatever it takes to replace it. Same deal if your vehicle is stolen with a bunch of guns in it while you're eating a meal in a roadside restaurant on a cross-country trip. (The guns are covered by your homeowner's policy, the vehicle needs its own policy, obviously.) Ditto shipping guns to a gunsmith for repair or modification, or shipping guns ahead by common carrier to some other place you want to shoot them. Don't pay UPS for insurance--the guns are already covered.

I was covered in this fashion for 15 years by one major company, then my agent had me switch to another two years ago because he found a policy for me with more coverage at less cost.

Take good digital photos of every gun you own and keep a file in case anything is stolen or otherwise lost. (Digital means you won't get some mouth-breather at the photofinishers blabbing about you.)

If your agent can't find you an "all risks, replacement cost contents policy" with no gun exclusion at a decent price, email me at jrinvest@earthlink.net and I'll set you up with an agent who can.

John Ross 6/2/03

Edited by TOU
Link to post
Share on other sites

'TOU',

" If it's written as a REPLACEMENT COST CONTENTS, ALL RISKS policy (which is what you want,) that means if you take your expensive double rifle to Africa and it gets lost/stolen/confiscated/falls in the river, it's covered for whatever it takes to replace it."

 

This is how I had my insurance written at State Farm. I have all my insurance there and get a better rate that way.

 

When I first talked to my agent he mentioned my home policy,but said if I wanted "REPLACEMENT COST"

with all bases covered ( theft, fire, stolen) and no deductible then I should go with the "Personal Articles Policy".

 

I supplied all of my firearm info (what make,model, type, when purchased, where purchased, date purchased serial numbers ....etc. etc. (As I buy sell, trade I update the list about every 6 months.)

 

With my wife's jewelry, we had to have it professorially appraised and photographed.

She has had to replace some of the smaller diamonds from her wedding ring that got lost. My insurance company told me to get it fixed, mail them the bill and I pay nothing. Well, I pay nothing except for the premium.

 

I pay about $10 for every $100 worth of coverage.

 

louielouie

Link to post
Share on other sites

I know a lot of people that think a good gun safe is enough of an insurance policy. A few years ago in Shreveport Louisiana there was a group of burglars that were using a bucket of golf balls to steal the entire safes and contents. They tilted the safe over and poured the golf balls under the safe. They would then push the safe to the door on the golf balls. They would just keep feeding the golf balls under the safe as it rolled. A good insurance policy is not a bad idea. Most people are deterred from burglarizing a house where they know the resident is armed but some of these low lifes target houses that are known to have gun collections. A good safe bolted to the floor, alarm systems, mean nasty dogs, and insurance are all good ideas. If they want it bad enough they will find a way, just don't make it easy.

I also catalog all my guns with pictures and serial numbers and keep it seperate from my guns.

Link to post
Share on other sites

Madmillo,

I love the golf ball idea.

 

I have one of those cheap safes that you put in your closet and bolt down.

 

I tried to install it so that it is a real pain in the ass to do anything but open it from the front.

 

My second attempt of security is to have the smaller pistol safes in various places. That way a burglar is going to have to go through the same routine each time ??

 

Anyone out there who owns any firearm should (like Madmillo) have a safe and a list of contents.

Like I said before, I update my policy twice a year, and keep a copy on the computer.

 

louielouie

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Chatbox

    Load More
    You don't have permission to chat.
×
×
  • Create New...