Insurance for your gun collection?

[mongo4567]

dogtown tom -Since when?

I have both personal and dealer policies through Collectibles and have never been required to give them a list, descriptions or values.

Maybe they have different policies for dealers than individuals. I've been with them for a few years. My policy states that I must provide updates within 30 days for additions. Their specific gun collection form asks for more detail, but this is a link to their regular collectible form wanting a list of descriptions and values.

http://www.collectinsure.com/forms/CollectorApplication.pdf

 

[dogtown tom]

mongo4567

Quote:
dogtown tom -Since when?

I have both personal and dealer policies through Collectibles and have never been required to give them a list, descriptions or values.

Maybe they have different policies for dealers than individuals. I've been with them for a few years. My policy states that I must provide updates within 30 days for additions. Their specific gun collection form asks for more detail, but this is a link to their regular collectible form wanting a list of descriptions and values.

http://www.collectinsure.com/forms/C...pplication.pdf

If you read that form you will see that they only need a specific description if any item is valued at $5,000 or more.

Just to be sure I emailed Collectibles: "Do you require descriptions, serial numbers or a listing of specific firearms on your dealer or collector firearm policies?"

Hello Mr. Hart,
We do expect that you have an inventory or some way to prove your loss if you had one.
The only information we absolutely must have here are for the personal collectible policy; if you have any one item valued at $5,000 or more on a stand alone basis.
Thanks and please don't hesitate to contact me with further questions.
Mara Maczka AU, Underwriter
Collectibles Insurance Services, LLC

 

[feltonfitz]

Collectibles Insurance does not require serial numbers and is usually less expensive than Lockton (NRA). Agency has been in business since 66 and has been insuring guns since the 1996. They insure ober 3,000 gun collectors and dealers nationwide.

 

[feltonfitz]

Collectibles only requires you provide a list of guns worth $5,000 or more. This changed when they moved from First State to Lloyds of London. They do reccomend you keep a list and pictures of your guns in the event of a loss.

 

[figment]

this is another form of gun registration, so nope. buy a safe.

 

[leadcounsel]

Insurance through the NRA affiliated company. I think it's called Armscare. No SS#'s needed, which is what I like. I don't need any 'lists' floating out there for some unscrupulous employee to steal and sell or have the system hacked.

 

[tercel89]

Just tagging this thread . Its a great thread and has answered a lot of my questions !

 

[searcher451]

I use Chubb Personal Insurance through the Eastern Insurance Group. I couldn't find anyone else that offered such thorough coverage for such a low price, and that includes my homeowner's insurance carrier of 40-plus years.

 

[MachIVshooter]

Most homeowners policies will do a "floater" policy for guns, with a standard deductible (like $500). Expect to pay ~$1.50 per month for evey $1k in coverge.

 

[orionengnr]

this is another form of gun registration, so nope. buy a safe.

Several posts with insurers that do not require a list, so I don't see how this is a form of registration.
That said, I have both a safe and insurance. Far from mutually exclusive, they are complementary.

 

[paintballdude902]

my renters insurance had a 2k cap on it so i pay extra for a 3.5k cap which will cover all of the ones i keep at my apartment

 

[Oregun89]

Through American Family Insurance, I have up to $6,000 in coverage for firearms. Its included in my renters insurance for around $6 a month. My claims deductible is $1000.

My agent has photos of all my guns, and if my weapons were lost to theft/fire, they would be covered at the cost of their worth minus the $1000 deductible. And, since all of my firearms were purchased in the past decade, pricing them is an easy task.

If I list items (firearms) with serial numbers, receipts and/or certification from an approved appraiser. I'm pretty sure I wouldn't have to pay the deductible upon claiming it, but the cost to insure each additional item is something like an additional $15 a month, and I'm on a tight budget as it is, none of my firearms are worth much more than another. And, the $6000 coverage would buy back all of my guns.

 

[InsuranceGirl]

Work with a broker

Hello, I was reviewing the thread, it was very interesting.

I just placed my brother-in-laws guns, he has a beautiful collection with new guns and some collectables. As his Insurance Broker, I looked at all the top rated companies and ended up placing him with Travelers through an endorsement with his homeowners policy.
My advice would be to work with a broker, have them look at all of your options, inform you of the benefits of the company they are presenting to you.
1)deductable
2)replacement value vs. actual cash value
3)privacy policy

If you stick with your captive agent (State Farm, Farmers, Allstate) you are not getting the whole picture.
Also an interesting read from the AAJ http://www.justice.org/docs/tenworstinsurancecompanies.pdf

I wouldn't want to take a chance with my investment!

 

[oldbear]

Your insurance carrier may want you to have the weapons apprised. For your protection this is also a good idea, if your weapons are ever lost or damaged. Keep the appraisal form in a different location than your firearms.

 

[dougw47]

insurance co.s

I had a loss in the 80's...bad guys kicked in the door as my kids (home alone) ran out the back.

I had one of the biggest ins. co's. as my carrier. I had several nice weapons stolen, A Pederson 1500 engraved O/U 12 ga. and a tricked out Series 70 Colt for example.

My policy put a limit of coverage on non-itemized guns, required ridiculous documentation, and was very difficult to deal with...long story short, my adjuster graciously "Allowed" me $200 dollars on the above weapons and less on the rest.

I would suggest that you contact your ins. agent and get in writing just exactly what coverage you have, what you can expect as far as replacement cost, and any specific clauses in you policy put a limit on individual weapons.

Specifically mention your best weapons and expectations.

Key, get it in writing...and READ your policy...ask questions about anything you don't understand. You are not an expert, the company is, good luck.

Insurance is legalized gambling...and the companies are good at dealing cards.

 

[TechBrute]

Seems like several people here need to do more research on gun safes, specifically their limitations. If you think that safes are all that safe, you are terribly misinformed.