Gun Insurance

[Huntingdonhavoc]

My question is would it be better to go through your home owners insurance company for firearm specific insurance or is there a more widely used service that any one is familiar with. I did a little research but wasn't given many details. I honestly was convinced that homeowners insurance covered it but i'm leaning towards no at the moment. From what I understand for a $1,000 firearm the cost is 15 or so a year.

[Dredly]

My question is would it be better to go through your home owners insurance company for firearm specific insurance or is there a more widely used service that any one is familiar with. I did a little research but wasn't given many details. I honestly was convinced that homeowners insurance covered it but i'm leaning towards no at the moment. From what I understand for a $1,000 firearm the cost is 15 or so a year.

Home owners insurance will cover weapons stolen from the home or destroyed while in the home. I'm not sure if that is what you are looking for or not?

When the appraiser came and catalogued our stuff we had to disclose the $ amount.

the same goes for Renters Insurance. We have state farm, ymmv

[32 Magnum]

Back in April of 2003, I had 31 handguns (all except for two were low value East-bloc milsurp pieces) stolen from my home. My home owner's insurance covered $2500, with out a rider and my NRA membership covered $1000. I had to supply a police report with the details of the stolen firearms. The purchased value of the guns was around $3800.
The NRA lists a private insurance company that specializes in insuring firearms at low cost to NRA members. It wouldn't hurt to check it out - call the NRA home number and ask for assistance and an information package.

[normanvin]

Back in April of 2003, I had 31 handguns (all except for two were low value East-bloc milsurp pieces) stolen from my home. My home owner's insurance covered $2500, with out a rider and my NRA membership covered $1000. I had to supply a police report with the details of the stolen firearms. The purchased value of the guns was around $3800.
The NRA lists a private insurance company that specializes in insuring firearms at low cost to NRA members. It wouldn't hurt to check it out - call the NRA home number and ask for assistance and an information package.

Is that $2500.00 because you had the rider?

[blueeyedbyrd]

Typically firearms would be covered under coverage "C" Contents on your homeowners insurance policy. If anything happens, stolen/etc, you would have you pay your deductiable ($500 for most) and insurance will cover the remainder. The Contents coverage is a pretty broad gray area though, and insurance companies like to find ways to pay less than they should whenever they can. When I was selling insurance I always recommended that you schedule any items of value, firearms included. Typically all you need to provide to your insurance agent is the type of firearm, a value, and sometimes a serial #, companies requirements may vary though. it's fairly low in cost around $10-$15 per $1000 of coverage, and there is no deductiable to pay should anything happen. Should your weapons be stolen, you will be reimbursed at replacement cost if you purchase the schedule.

All insurance companies are different, but it'd be worth a check with yours to see what they can offer you.

[SGTUSArmy]

I have USAA. When I bought my policy, I asked about firearms, and they said that I could place "floater" coverage on them, which means that regardless of the reason for loss, they are covered as replacement cost items.

To insure the following list for replacement cost "floater" coverage, it raised my premium $15 a month: my firearms, all 5 computers, electronic equipment, the wife, and a few other items.

[shefearsnothing]

your WIFE was part of "floater" coverage? I didn't know we were considered property. WTF!?

[Huntingdonhavoc]

your WIFE was part of "floater" coverage? I didn't know we were considered property. WTF!?

It more or less depends on the situation. IE: how many times a week the dishes are done, the ability to remove stains in colors, if she scrubs the tub, bitchy vs. sexy ratio. This is all standard procedure so no worries .

[shefearsnothing]

I see. Well, we will have to re-evaluate things for sure around here. Thanks for the clarification.

[SGTUSArmy]

your WIFE was part of "floater" coverage? I didn't know we were considered property. WTF!?

Just seeing if anyone was paying attention. No the Spousal Unit (SU) is not on floater coverage, but it would be nice if something should happen--such as divorce--we could have insurance to pay for alimony/child support, the cost of dating to find a new SU, and what not. Ya know what I am talking about, so you can get a new house, new car, new dog, etc....