Homeowners Insurance and firearms

[Mikey]

I recently switched my homeowners insurance and added my guns to the policy, so if my guns are damaged or destroyed under my agreement I will get money for them. I did not even know this was possible but guns are just like any other item in your house. I was actually suprised that this was no big deal to the agent b/c I guess I always expect to be looked down upon in this state when it comes to guns.

But anyways do you guys do this and is there any non-paranoid reason I should not have?

 

[Rob Boudrie]

Just curious - what kind of rate per $1K did this run you?

 

[jim/boston]

Check out Historic Firearms Insurance; much better rate than my homeowners and better coverage (like thefts from an auto, common carrier, fire and theft in my home) 1/4 million costs me about 900/year.

http://historicfirearms.com/index.html

 

[dwarven1]

You have a quarter million dollars worth of firearms?????

 

[Carguy]

And Jim...where do you live? Lets meet for, uh, coffee, yeah that's it. If I'm not there on time just order a cup and wait for me, yeah, just wait for me 8~)

$250,000 on guns!? Wow, you definitely to start posting on the Gun Gallery!

 

[Mikey]

Just curious - what kind of rate per $1K did this run you?

Well, I can't really answer that b/c my wife works for the insurance company and we get a pretty good discount. All I know is that it did not cost me anymore money. All we did is tell him what guns and how much they are worth. This also covers ammo which is the same idea just say how much money worth of ammo you have.

If my guns are damaged, destroyed or stolen the insurance company will reimburse me for them just like jewelry or electronics.

 

[C-pher]

Mine will do the same... Just that it's only up to a certian amount. Any extra over the standard amount has to go on a ryder.

 

[securityboy]

Check out Historic Firearms Insurance; much better rate than my homeowners and better coverage (like thefts from an auto, common carrier, fire and theft in my home) 1/4 million costs me about 900/year.

http://historicfirearms.com/index.html

I second Historic Firearms Insurance...they have much better coverage than homeowners and the rates are A LOT LESS...I only pay a few hundered dollars a year for my coverage (just under $100K)...

Come on guys, when you start playing w/ real guns (machineguns ) it isn't too hard to get up there in value...

Come to the http://www.hansonshoot.com and Jim and I might even let you play with some of our toys...

 

[jim/boston]

Heya Chris! Looking foreward to the upcoming shoot; will tracers be allowed? I still have 25K rounds of that .308 Malaysian tracer that JLM sold a few years back and I'd like to burn it up with my M240G (and let a few NES'ers help) but I don't want to set the woods on fire. I've been happy with Historic Insurance so far, luckily I've never had to make a claim (fingers crossed). I checked with a few experts and they said the underwriter (Chubb) is one of the best. below is a vid of two of my insured (with rob silvers on the trigger)

http://media.putfile.com/m249-belt-fed-machinegun-full-auto

check out the handsome guy in the loud shirt


http://www.youtube.com/watch?v=ashaeAaLYJI

 

[Rob Boudrie]

Too bad nobody is up to a challange of the Hanson ban on minors shooting ful auto under supervision - it would see to be something that requires passage of a "home rule" petition at the state level. Any lawyers out there who can tell us for sure?

 

[Rockrivr1]

Just as a heads up to some, there are hidden limitations on some insurance providers as to how much they will cover for your firearm loss. I thought my guns were covered by my homeowners policy, but they were not. My initial inquiries to my insurance rep was that they were fully covered and I even provided a listing of firearms to be added to my policy.

After reading a post on a different forum about what happened to a guy who's house was burglarized and the trouble he had claiming his firearms, I called my rep back and pushed for some clarification. The final outcome is that my insurance provider has a little known provision that limits my coverage to $2,000 no matter what. My insurance rep was shocked and very appoligetic, but I was still a little peeved as I could of been screwed if something happened. Just for the record, I had coverage through Arbella.

Since that time I've bought a policy through the NRA. I paid $220 for $20K worth of coverage last year when I renewed.

For anyone who thinks they are fully covered with thier homeowners policy, I would recommend getting that in writing.

 

[TonyDedo]

Quick question RE Historic Firearms Insurance. Is it worthwhile getting a seperate policy with then for a small number of guns. My collection is over the $2000 mark, so I'd imagine I need more than my regular insurance will cover. However, it's not much more than $2k (under $5k). Is it still worthwhile? What are my other options (NRA insurance?)

And has anyone had to USE their firearms insurance? And good/bad stories about local companies.

 

[Rockrivr1]

If your in the NRA, I think you get $1000 of automatic coverage through them. If your homeowners covers $2k and the NRA covers $1k you should be set.

 

[Mikey]

If your in the NRA, I think you get $1000 of automatic coverage through them. If your homeowners covers $2k and the NRA covers $1k you should be set.

Cool, I did not know that the NRA did that for us!

 

[Scrivener]

If your [sic] in the NRA, I think you get $1000 of automatic coverage through them [sic]. If your homeowners covers $2k and the NRA covers $1k you should be set.

YOU may "be set." That wouldn't cover my EBR's and the same is true for many others on this forum. An insurance rider would be in order (we just bought an umbrella policy). Note that jewelry, art, antiques, etc. would also need to be separately covered if they exceed the basic homeowner's coverage.

 

[drgrant]

If your in the NRA, I think you get $1000 of automatic coverage through them. If your homeowners covers $2k and the NRA covers $1k you should be set.

I think a lot of us on the board would need a hell of a lot more than
that, to be fully covered. I don't have a lot of guns and what I
have exceeds that limit easily. Doesn't the NRA have optional extra insurance
as well? (eg you can get a policy through them, etc. )


-Mike

 

[Len-2A Training]

NRA is OK for small amounts and I think you get some basic coverage with your membership (IIRC as a Life Member I get $1K or $2K free). As your value climbs the NRA insurance was a lot more than Collectibles Insurance who I use. Homeowners' riders were even higher (~2x Collectibles for less actual coverage). Collectibles even covers me if I ship a gun and it gets lost/stolen in transit . . . homeowners won't cover that at all.

 

[Rockrivr1]

YOU may "be set." That wouldn't cover my EBR's and the same is true for many others on this forum. An insurance rider would be in order (we just bought an umbrella policy). Note that jewelry, art, antiques, etc. would also need to be separately covered if they exceed the basic homeowner's coverage.

I was just responding to livinlawatertown question pertaining to him only have a little over $2K worth of firearms. There are definitely a LOT of people on this board that would need much more, myself included.