Collector's Insurance

M

MWark

New member
Collector's Insurance

http://www.collectinsure.com/

Is anyone familiar with this company?

I’ve decided that it is time to insure my collection. The rates are excellent but it would be good to know that they will pay claims.
I am a NRA member and I am considering that option too. They work out to about $17.00 per $1000.00; the above company is about half that amount.

If anyone has their own recommendation I would appreciate it.

A safe is not an option for me.

Thanks
 
I have insurance with them, but have never had to file a claim (and hopefully I never will).

Why is a safe "not an option"? The safe may prevent the theft of your firearms--insurance will only (theoretically) replace them.

If you have what you describe as a "collection" then you have some money tied up in guns, ammo, accessories, etc. Why not protect them?
 
A "real" safe is not possible because of the architecture of my home. The only place that would support a safe is not heated. I have an inexpensive Stackon but a fireproof safe wouldn't be an option.
 
i have been a customer of theirs for about 4 years now
i have never had to file a claim, thanks god.....

it is a good feeling to know, even with everything all locked up
tight as a drum, that you are covered monetarily

they have various options too, which may suit different
people differently....and cover various other collectibles too
 
So if one has a $100,000 collection...$1700 a year? Not cheap.

Did a quick application $555 Annual Premium. Really not bad. Only problem is i have to buy a lot of guns now!!
 
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Collectibles Insurance Services cost for $100,000 collection in TX = $616 per year. $555 if you have qualified safe or alarm.
 
governmental seizure or destruction of property; war and nuclear; gradual deterioration such as fading, creasing, denting; nesting, infestation or discharge or release of waste products or secretions by insects, rodents or other animals; dampness or dryness of atmosphere; changes in or extremes of temperature other than fire; fraudulent, dishonest or criminal acts; voluntary parting with covered property; loss or damage while being worked on by you or others working on your behalf. This is not a complete list of exclusions and exclusions can vary by policy.

I looked up this company via Internet and copied and pasted this from their exclusions. I'm not a lawyer nor will I pretend to understand insurance law but it seems to me that it excludes a lot of things. If one does not have a safe, you are paying premiums for what may be only minimal circumstantial protection. I, too, had no place in my house to put a safe but did find room in my garage and put in an electric dehumidifier device into the safe to keep it cool and dry. The whole deal was a one time investment which protects my guns for 30 minutes from temperatures up to 1300 degrees. And, the installer said, "It will take a small nuclear device to remove this safe from it's anchor in the cement." If that were not enough, I put infra-red detection and motion detector devices hooked into my house alarm system for added protection.

I have the peace of mind for the price of one year's worth of insurance premiums. Either way, with or without insurance, everyone of us would be very upset if our guns were to be stolen or destroyed. I think there is a piece of all of us in our hobby as gun enthusiasts. Here's hoping bad things never happen to any of us.
 
My garage would be an option if it were heated; one of the few advantages that you have living in FL. I don't think 30 below 0 is recommended for firearms storage. (I'm in Maine)
 
The insurer is trying to limit what it is contracting as covered perils to limited items. I think that the insurer also requires some sort of documentation of the firearms that you insure.

governmental seizure or destruction of property; war and nuclear; gradual deterioration such as fading, creasing, denting; nesting, infestation or discharge or release of waste products or secretions by insects, rodents or other animals; dampness or dryness of atmosphere; changes in or extremes of temperature other than fire; fraudulent, dishonest or criminal acts; voluntary parting with covered property; loss or damage while being worked on by you or others working on your behalf. This is not a complete list of exclusions and exclusions can vary by policy.
Click to expand...
The above exclusions seem to still cover the perils of fire and theft (by someone who does not work for you). If you look in your homeowner's policy on your home you will see many exclusions, like wear and tear, inherent vice, smog and mold, settling, vermin, and more.
 
The only typical limitation on a Homeowners policy for firearms is for "Theft" specifically / and its usually limited to $ 2,500 or so.

But your guns are covered for Fire, etc - just like the rest of the stuff in your home - furniture, etc ( but make sure you have enough coverage, in terms of "contents" - usually cov C in the policy ) for furniture, guns, etc..

But if you don't have a Safe - Theft is a big risk. You may find some companies won't insure your guns / unless you have a Safe... especially if you have $ 100K in guns. You will also have to reasonably prove condition and value too / photos with date stamps are good.

I don't know anything about collectors insurance company / but I do know the NRA endorsed policy is a good one. I would stay away from a company that you have no knowledge of / go with the NRA endorsed policy ....or remodel and provide a place in your home for a Safe - you must have closet or storage space somewhere that would make sense to lock up a $100K investment .....vs a few extra towels, or something ....
 
A "real" safe is not possible because of the architecture of my home. The only place that would support a safe is not heated. I have an inexpensive Stackon but a fireproof safe wouldn't be an option.
Click to expand...

My "real" safe isn't in a heated area. Is there a point there? ;)
 
insurance

State Farm charges me $85 per $10,000. They don't need pictires or receipts, just an inventory of the insured items.
 
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