Gun insurance policy?

[Ucsdryder]

I have home owners but I’m thinking about adding an additional policy. Anybody have a firearms specific policy they like? This one was mentioned and the premiums seem surprisingly low.

Gun Coverage

Protect your firearms with Gun & Trophy Insurance's Gun Coverage plans. Understand the unique features of our insurance plans for gun owners.

gunandtrophy.com

 

[Crowmangler]

I asked my agent about this very thing a few months ago & he said the max it would cover was $10k total for all "personal property". He said you could add an additional coverage for guns specifically but you would have to give them a written list of all guns, S/N's etc. I do understand why this is required but I haven't convinced myself that I'm gonna hand that info to them just yet

 

[CorbLand]

I had to do additional coverage to cover my guns. I think it costs me 15 bucks a year for every 2500.

 

[bbrown]

I’ve heard good things about Lockton Affinity but no personal experience.

Firearm Insurance | Lockton Affinity Outdoor

Firearm Insurance from Lockton Affinity Outdoor protects firearms from damage, theft and more and covers gaps in homeowners' insurance.

locktonaffinityoutdoor.com

I have additional/itemized a few through my homeowners insurance for a reasonable rate but need to update that too

 

[Happy Antelope]

OK here's the advice from someone who is an commercial insurance agent from one of the largest agencies in the world, retailer and gun collector. You can of course schedule each rifle to your home policy, but if you have a home claim, expect an increase in premium, have 2 claims in 3 years and you have serious problems even buying home or renters insurance. Your home policy always has a sub-limit on firearms, depending on if you have an HO3 or HO5 form and which company you are with. Chubb, Acuity, and a few other companies that cater to more affluent clients have about 5k of coverage usually and someone like State Farm that has a really stiped down policy form might only cover 1k. Make sure to look at your policy, it's in there pretty clear and easy to read. The guns have to be scheduled and on a property floater over the limited provided and would be a rate of about 1.50 to 2.50 per 100 of value.

You are better off getting a separate policy for guns and jewelry always, they are broader and usually cover the firearms worldwide on an agreed value. SCI has a program through Sportsmans Insurance and the rate is about 1.50 per 100 of value. Keep in mind the scopes have to be scheduled also as they will be excluded as property on a home policy, binos are not considered gun related and covered by home insurance as property. Another perk of doing it this way, is a claim does NOT show up on CLUE and hence you don't get dinged for it as a home insurance claim.

https://www.siai.net:8443/

Hope that helps.

Paul
www.happyantelope.com

 

[Happy Antelope]

I had to do additional coverage to cover my guns. I think it costs me 15 bucks a year for every 2500.

Thats way way to cheap, would be 1.50 to 2.50 per 100 on any schedule.

 

[SDHNTR]

I tried to get a separate policy, they wanted an appraisal of each firearm.

 

[Happy Antelope]

I tried to get a separate policy, they wanted an appraisal of each firearm.

The SCI program shouldn't, but could be certain types of guns or values maybe? Jewlery insurance from Jewlers Mutual Insurance always asks for an appraisal also. Try the SCI program, I have a lot on there and no appraisals. All the guys taking their H&H, Heym and Rigby, etc doubles over to Africa use the SIAI program.

 

[RS_Non-Res]

My policy has a limit for collectibles. more value than that, I have to buy more.

 

[gearguywb]

I have carried a seperate policy for quite a few years through Eastern Insurance. I have an expensive (for me anyway) sporting clays gun and several hunting and competition pieces.

Eastern does not require any kind of inventory, listing etc., with the exception of individual items valued at over 10K.

I believe my cost is just shy of $200 per year for 40K of coverage. I save that much by not buying insurance when shipping a firearm back and forth for work or upgrades.

 

[Bolt]

I went down this road several years ago. I have a few collectors that my father left me and State Farm wanted everything to be appraised and for me to provide SN as mentioned above. I had them give me some estimates and I would have been better off building a concrete vault with fire suppression system. The bad news is I was in a bad boating accident the year after and they all went overboard, guess I should have done something.

Sent from my Pixel 6 using Tapatalk

 

[Sam Colt]

My guns ARE my insurance policy.

 

[Mosby]

I have a separate gun insurance policy through the NRA.

 

[TheHammer]

I added a 15k policy to my business insurance plan due to my safes holding the special documents and assets. It’s the most I could find to cover them, I didn’t need serial numbers just a video/pictures of the inside of the safes. It’s an extra 16$ a month on my policy. Which in todays world we all could probably find 16$ a month that we waste in other places.

 

[kpk]

I just went through this with State Farm after changing agents. I ended up adding additional coverage for firearms, jewelry, optics and camera gear. I don't remember how much extra it costs me a year but it wasn't too much.

I will say that after adding up the firearms and optics on them, the value was more than twice what I had guessed it would be.

 

[Tahoe1305]

I added a valuable personal property policy with my normal insurance company. (It is separate).

I have some family jewelry in there too. Way it reads is even loss or damage it is covered (haven’t tested).

I pay roughly $100 per $10k in coverage (so $1/100).

Each gun and scope is listed by serial
Number, model, and purchase price.

Gives good piece of mind but often wonder if it’s a waste.

 

[Crusader]

I asked my agent about this very thing a few months ago & he said the max it would cover was $10k total for all "personal property". He said you could add an additional coverage for guns specifically but you would have to give them a written list of all guns, S/N's etc. I do understand why this is required but I haven't convinced myself that I'm gonna hand that info to them just yet

I'm of a similar mindset to you. Asked my State Farm agent about it last year and he said same thing, I'd have to itemize each firearm with SN and give them that list. I guess I'm a conspiracy theorist or whatever but figured if someday things got extreme that the feds could force insurers to give up such lists. Not sure I want to go that route. Maybe I'll check with Eastern which was mentioned up in another post on this thread.

 

[dieselchessy]

I have a Personal Articles Policy through State Farm for all my valuables. It covers loss, damage, theft, ect.. and isn't tied to my house. I did have to provide a list of items with serial numbers and a value for each item. They never asked for an appraisal beyond my own. Its a hundred and some change per year for a few tens of thousands of coverage.
As one would imagine, not all of my valuables are listed on the policy.

 

[Happy Antelope]

I have a Personal Articles Policy through State Farm for all my valuables. It covers loss, damage, theft, ect.. and isn't tied to my house. I did have to provide a list of items with serial numbers and a value for each item. They never asked for an appraisal beyond my own. Its a hundred and some change per year for a few tens of thousands of coverage.
As one would imagine, not all of my valuables are listed on the policy.

See if it covers international....I am curious

 

[dieselchessy]

See if it covers international....I am curious

Policy states under “territorial limits” “We cover the property described while it is anywhere in the world. However, Fine Arts are covered only while in the United States and Canada.”

They have several “special exclusions” like “theft from any unattended automobile”.

That one’s annoying because it’s the most likely case of theft to occur and I’m not covered for that scenario if in a vehicle without such coverage.