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Anyone have firearms insurance?
- Thread starter taymag
- Start date
Hunter2678
New member
Good question, I know mine are insured in a separate rider on our homeowners, but am curious to hear about claims and actual payout stories.
Old Bill Dibble
New member
NRA insurance is free, if limited. Once you go over their threshold I'd talk to my Home or Renters Policy Company.
Legal Insurance
I bought firearm legal insurance last year. It does not cover my guns replacement. (home insurance does that)
It covers you for situations where you might be wrongly charged with a firearm offense.
Here is the website
http://www.firearmlegaldefence.com/
For $99 your get a lawyers card and a number to phone.
I bought firearm legal insurance last year. It does not cover my guns replacement. (home insurance does that)
It covers you for situations where you might be wrongly charged with a firearm offense.
Here is the website
http://www.firearmlegaldefence.com/
For $99 your get a lawyers card and a number to phone.
Here is the website
http://www.firearmlegaldefence.com/
For $99 your get a lawyers card and a number to phone.
Nice, but that only applies to Canada...
Boogershooter
New member
I went thru state Farm. Home owners only covers so much for firearms. They have several different options and they allow you to adjust values at anytime. If you have a substantial collection there are even more avenues you can go. There are a couple old threads on here if you dig around for this topic.
Insurance laws are STATE REGULATED so your state may vary. I am familiar with the MO insurance laws after spending 10 years in the business. Your guns are your personal property.
Your homeowner's/renter's insurance policy covers your personal property for loss as specified in your policy. In modern times these policies are mostly "all risk" which means anything that happens EXCEPT what is specifically excluded in the policy. The first thing that comes to mind here is flood or earthquake.
In the case of firearms the policy usually specifies a specific limit on firearms for THEFT. If you want more than the stated coverage, you must purchase a rider to increase the limit. However, your guns are fully covered if destroyed by any of the other hazards not excluded (example Fire). The riders are usually less expensive than the policy offered through the NRA (after you exceed what they give you as a member benefit). They also usually require you to provide a list of the firearms with S/N and a stated amount of value.
My advice is to talk to your agent and verify what coverage limits are automatic and then the cost of a rider to fully insure your guns. Firearms riders work exactly like jewelry or antique riders if that helps clarify.
Your homeowner's/renter's insurance policy covers your personal property for loss as specified in your policy. In modern times these policies are mostly "all risk" which means anything that happens EXCEPT what is specifically excluded in the policy. The first thing that comes to mind here is flood or earthquake.
In the case of firearms the policy usually specifies a specific limit on firearms for THEFT. If you want more than the stated coverage, you must purchase a rider to increase the limit. However, your guns are fully covered if destroyed by any of the other hazards not excluded (example Fire). The riders are usually less expensive than the policy offered through the NRA (after you exceed what they give you as a member benefit). They also usually require you to provide a list of the firearms with S/N and a stated amount of value.
My advice is to talk to your agent and verify what coverage limits are automatic and then the cost of a rider to fully insure your guns. Firearms riders work exactly like jewelry or antique riders if that helps clarify.
jackstrawIII
New member
I'm an insurance agent, let me clarify a few things:
1. Most Homeowners (and renters) policies will have SOME coverage for guns, but it's very limited. $1000 is common... and as most of you know, that's not nearly enough.
2. Most Homeowners policies offer the option of adding an endorsement (rider) to the policy to cover items like jewelry, furs, and firearms up to a very high amount. The cost will be built into your homeowners bill, and is simple. The issue that you run into with this, is that you're still stuck with your standard deductible, which is often $500+.
3. Most insurance companies have a third option available, which is called a "Valuable Property Policy" (or similar verbiage). This is a stand alone policy. The benefit is that it tends to be cheaper, and has a much lower deductible (around $50). The downside is that it can often require an assessor to come value your collection, but that depends on your insurance company.
I chose option 3 for my guns. I have 20-25 guns at a given time and the cost is around $200 a year, with a $50 deductible. That's not bad at all. There are options, I'd recommend talking to your local agent before going to one of the online companies.
1. Most Homeowners (and renters) policies will have SOME coverage for guns, but it's very limited. $1000 is common... and as most of you know, that's not nearly enough.
2. Most Homeowners policies offer the option of adding an endorsement (rider) to the policy to cover items like jewelry, furs, and firearms up to a very high amount. The cost will be built into your homeowners bill, and is simple. The issue that you run into with this, is that you're still stuck with your standard deductible, which is often $500+.
3. Most insurance companies have a third option available, which is called a "Valuable Property Policy" (or similar verbiage). This is a stand alone policy. The benefit is that it tends to be cheaper, and has a much lower deductible (around $50). The downside is that it can often require an assessor to come value your collection, but that depends on your insurance company.
I chose option 3 for my guns. I have 20-25 guns at a given time and the cost is around $200 a year, with a $50 deductible. That's not bad at all. There are options, I'd recommend talking to your local agent before going to one of the online companies.
I have mine with USAA on a personal properties floater. Easy to manage and affordable.
Have to check that out... I have several accounts with them. Best outfit around.
deadcoyote
New member
As others have noted i have it as a rider on my homeowners through state farm. It's $8000 in coverage for about an extra $40 a year.
Sure Shot Mc Gee
New member
I buy a rider policy in addition to my home owners from the same insurance company every year. Ain't cheap. For proof of ownership (sales receipt) or video taped close-up showing serial # works also.
Bill DeShivs
New member
I'd rather invest in a better safe.
I know investing in things like an alarm system can lower the cost of your basic homeowner’s policy. So, does anyone know if investing in a gun safe would lower the cost of firearms insurance/riders?
now if investing in a gun safe would lower the cost of firearms insurance/riders?
When I just checked, a requirement to even get this insurance is that you either have an alarm or have a certain kind of safe. I do not believe that having both will make a difference, or much of a difference, in cost. The value of your collection is what really controls.
Sure Shot Mc Gee
New member
Not all do as your link site suggests.It's what they do, and they have done it for a very long time.
Without serials there's no chance of recovery or little specific info for a police report other than description and of course there's a need to updated the police's list of stolen firearms by serial # which is shared with local pawn shops and guns shops so's to be aware of.
Homeowner insurers: is [suggest only] to buy a safe or cabinet & install alarm.
In this State new FFL licensee's: ATF now [requires] a safe on premises. In size and meeting specific build quality.
I highly doubt a Stack-on cabinet meets those ATF guidelines.
Without serials there's no chance of recovery or little specific info for a police report
I would hope that most folks here who collect firearms keep a log of their firearms which should include serial numbers. Some folks go as far as taking detailed photos for their log, something I plan on doing but haven't gotten around to it yet. Hint, don't just keep an electronic version on your computer because that could get stolen as well.