Gun insurance policy?

[blairvt]

I tested gun and trophy. Sent an email under the file a claim section to see how long it would take to reply.
Answered back in 5 minutes so I went with them.

 

[Skerhunter]

I have it written into a farm policy. My agent had me itemize everything that I wanted covered, so my ATV/Tractors/guns/optics/suppressors are all under the same policy. No appraisal needed, just listed replacement cost of each item. I pay around $170/year for $30K coverage in guns and optics.

 

[JeffP_Or]

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.

I too have SF and the above is true. here as well. I need to update with them but the last time a few years ago, no appraisal or list was required. Simply provided the agent a value [it was not a significant amount but it did surpass the basic coverage - not sure if that effected it or not].

And while on the topic - document everything you have with photos; even just pictures of the walls in your house. Good photos too - especially jewelry etc. include receipts or appraisals if you have them. Been through this in the past - not fun.

 

[Marshfly]

I carry insurance from https://collectinsure.com,

They cover all sorts of collectibles and firearms is one of those things.

 

[Crusader]

I carry insurance from https://collectinsure.com,

They cover all sorts of collectibles and firearms is one of those things.

Do they require giving them serial numbers?

 

[Marshfly]

Do they require giving them serial numbers?

I think doing so factors into the premium and also if they are over a certain value. Honestly, if I were an insurance underwriter, and you wanted to me cover your 25 gun collection that totaled $30k or more, I would expect you to furnish serial numbers and prove ownership.

This isn't a registry. It's insurance. If you have a claim they will want you to prove you owned the thing in the first place. Giving serial numbers when you write the policy is the best way to do that.

 

[Crusader]

I think doing so factors into the premium and also if they are over a certain value. Honestly, if I were an insurance underwriter, and you wanted to me cover your 25 gun collection that totaled $30k or more, I would expect you to furnish serial numbers and prove ownership.

This isn't a registry. It's insurance. If you have a claim they will want you to prove you owned the thing in the first place. Giving serial numbers when you write the policy is the best way to do that.

Thanks. Yeah, I get that regarding reimbursement and proving ownership. Maybe I'm paranoid or a conspiracy freak or something, but it seems like if an anti-gun ownership gov wanted to identify unregistered firearms, forcing insurers to pony up client firearm lists isn't too far-fetched. The odds of something like that happening down the road may not be too much different than my firearms getting stolen or destroyed in a home fire.

 

[Marshfly]

Thanks. Yeah, I get that regarding reimbursement and proving ownership. Maybe I'm paranoid or a conspiracy freak or something, but it seems like if an anti-gun ownership gov wanted to identify unregistered firearms, forcing insurers to pony up client firearm lists isn't too far-fetched. The odds of something like that happening down the road may not be too much different than my firearms getting stolen or destroyed in a home fire.

You could also just go to the website. I think you can do the entire application and pay online. I remember the first one being pretty easy.

 

[ChrisAU]

Crazy this thread got so far without a reference to Eastern Insurance Group. Think I pay $145/year for a $45,000 blanket policy. No itemization required, not tied to my homeowners.

 

[sneaky]

Crazy this thread got so far without a reference to Eastern Insurance Group. Think I pay $145/year for a $45,000 blanket policy. No itemization required, not tied to my homeowners.

It's been mentioned twice in the thread before you

Sent from my SM-G955U using Tapatalk

 

[willidru]

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

This interesting, I thought my scopes and binos would be covered under personal property and I would only have limited coverage on actual fire arms

 

[Happy Antelope]

This interesting, I thought my scopes and binos would be covered under personal property and I would only have limited coverage on actual fire arms

Binos are fine for sure, but it's "firearms and related equipment" is how it's usually defined in the policy. Most policies are standard ISO forms so should mostly be the same, but some companies like State Farm have a manuscripted form and could read different. I attached a basic HO-3 form for you to see.

 

[NRA4LIFE]

I've used Lockton through the NRA for quite some time now. Very reasonable in my mind.