Firearms Insurance?

[TN_Hiker]

I have a small but growing stash of firearms. The problem is I only have a gun cabinet and not a safe so I have little protection against theft, fire, etc. While I'd love to invest in a safe it's not an option due to my residential circumstances. I've wondered about some insurance in the past and I recently received an email from the NRA for some firearms insurance called ArmsCare Plus.

I thought I'd see what you guys thought about insurance, if you had any recommendations, or anything else. I realize this ArmsCare Plus may not be the best coverage but I'm not exactly sure where to look for such a service.

Thanks

**

Here's a link to the service endorsed by the NRA and provided by Lockton Affinity

http://www.locktonrisk.com/nrains/about.htm

Edited February 3, 2012 by Spank

[patbax2]

I don't know but it would be something I'm interested in learning more about too

[TN_Hiker]

With your NRA membership you're provided with $2500 in coverage which I think for now covers me but I'll grow past that in a hurry

[NRA]

I added it on to my home owners ins. I think does more to cover theft and fire than a good safe. I am sure others will not agree but it gives me piece of mind a safe cant.

[Pain103]

You should be able to get it from your typical insurance provider. I had renters insurance through state farm that had a $10,000 policy just for my firearms. May check with each company to see the amount they cover. This was on top of the regular property coverage and with already having auto insurance with them it was super cheap.

[Guest bkelm18]

Yep my renter's insurance (Nationwide) covers firearms. I forget up to what amount, but it's certainly more than my meager collection is worth. Safes are fine and dandy, but if your house burns down, anything in that safe is going to be a pile of rust, I don't care what the "fire rating" of it is. A determined thief can do all kinds of magic to either open the safe or destroy it trying. Insurance is king.

[TMF]

My uncle had his house broken into a few years ago and several of his firearms were stolen (the ones that didn't have room in the safe). He claimed it through his homeowners insurance with no problem.

[Guest nicemac]

My uncle had his house broken into a few years ago and several of his firearms were stolen (the ones that didn't have room in the safe). He claimed it through his homeowners insurance with no problem.

He had to have had a rider on his policy to cover firearms over a minimal amount (typically $1000-ish). I shopped several companies and this was standard. I finally went with Nationwide. They will write coverage in $5000 increments. You have to list out your guns with serial numbers. If you buy/ sell/ trade, you have to keep the list updated.

[Oh Shoot]

NRA gives $2500

My State Farm renter's insurance also gives $2500. About average default for home policies, I think.

Been meaning to see about bumping the State Farm a little with additional rider.

- OS

[TN_Hiker]

Thanks for the input guys

[Wazzu]

Yep my renter's insurance (Nationwide) covers firearms. I forget up to what amount, but it's certainly more than my meager collection is worth. Safes are fine and dandy, but if your house burns down, anything in that safe is going to be a pile of rust, I don't care what the "fire rating" of it is. A determined thief can do all kinds of magic to either open the safe or destroy it trying. Insurance is king.

I'm going to have to disagree about safes and fire. I recently had my lake house burn down. It was a total loss. (Just to give you an idea how bad it was, the remains of my 2500+ sq. ft. house fit into a 30 yd dumpster [after I recycled the metal]). Anyway, I had a small cheap firesafe ($179 at home depot) that had some papers in it along with the keys to my Bobcat. Nothing was damaged in the safe. I am now a believer in firesafes.

[Guest bkelm18]

I am now a believer in firesafes.

I'm not. I've dealt with the aftermath of fires before. I don't trust fire ratings one bit. I invest my money in insurance.

[Wazzu]

I'm not. I've dealt with the aftermath of fires before. I don't trust fire ratings one bit. I invest my money in insurance.

I agree with you that there's no substitute for insurance. I was just amazed at how well the contents of that little safe survived the fire when nothing else did.

[jcj]

Mine are covered with these folks. http://www.collectinsure.com/

I've never had a claim (thankfully), but I've heard they're easy to work with. No need to itemize items under a certain value.

Price is quite reasonable too.

[runco]

Early last week, after reading this post, I contacted my local State Farm agent. I was interested in a $15K in coverage. Today, they quoted me $300 for a special rider. This seems high, advice? I have large Cannon safe, bolted through the floor with 3/4 case hardened bolts with a steel plate in the crawl space with the bolts welded to the steel plate. They would have to torch the safe to open it.

[Oh Shoot]

Early last week, after reading this post, I contacted my local State Farm agent. I was interested in a $15K in coverage. Today, they quoted me $300 for a special rider. This seems high, advice? ...

Been meaning to do the same.

Heck yeah, it seems high. I only pay $200 per year for $50K worth of renter's insurance. (firearms $2500 max coverage)

- OS

Edited February 14, 2012 by OhShoot

[Guest nysos]

State farm is big on multi policy discounts, so that could be right. Max amount I believe with them is as stated, 2500 included with renters or homeowners and I'd you go above that you have to get a separate policy. I know my dad has one for his guns but am not sure on the details of increments or costs. I don't believe he has to update his serials and whatnot when he adds or sells. I wouldn't see the need for them to know what you have on hand, only that you have records in case of an event where you would need to file a claim.

House that unloved at previously got broken into while I was at work and one of my guns got stolen and I never had a bit of trouble with them covering it.

Most all my family has all our policies with state farm (boats, Atv, cars, homeowners, renters, firearms, etc) so individual policy cost may not be worth it on its own. Your best bet is looking at whomever you have renters or homeowners with and getting it added.

Make some calls and do your research and you will be fine, but insurance on valuables is definitely worth it as I can speak from experience. Make sure you find out how reimbursement amounts are done in event of a claim, I lucked out with my policy and it was based off of replacement value (such as buying new from a retail establishment) so a few things that got stolen I got more for them then what I paid. I know some insurance companies can really hip you on this, so make sure to ask this question.

[Guest nicemac]

$100 per $5k is standard for riders on firearms across several providers I checked last year when I was shopping my homeowners…

Edited February 14, 2012 by nicemac

[Motasyco]

Mine are covered with these folks. http://www.collectinsure.com/

I've never had a claim (thankfully), but I've heard they're easy to work with. No need to itemize items under a certain value.

Price is quite reasonable too.

I took a look at their site and it looks like a pretty goods deal. I don't seem to be able to find any reviews or ratings on their service. Has anybody else used or heard of this company?

[runco]

$100 per $5k is standard for riders on firearms across several providers I checked last year when I was shopping my homeowners…

Thanks Nicemac. Before I write the check, I already have the automatic $2500 for guns which is standard with State Farm, then I did buy an extra $2500 10 years ago, which I am not sure what the premium for this extra $2500 is. So I want to make sure I don't have too much insurance.

Also does anyone know if the, the Insurance Companies, will replace with no questions as to condition or depreciation or proof that I had that particular firearm? Or do I have to prove to the condition, etc.

[Guest nicemac]

Thanks Nicemac. Before I write the check, I already have the automatic $2500 for guns which is standard with State Farm, then I did buy an extra $2500 10 years ago, which I am not sure what the premium for this extra $2500 is. So I want to make sure I don't have too much insurance.

Also does anyone know if the, the Insurance Companies, will replace with no questions as to condition or depreciation or proof that I had that particular firearm? Or do I have to prove to the condition, etc.

Depends on the company, the adjuster, their mood, etc… To be safe, take some photos and store them offsite-in your bank box, at work, or at a friend or relative's house.

[Capbyrd]

When yall talk about these rates, for what term length? Are you talking 300 per year, per month, FOREVER?

[Bubba0031]

I use Auto Owners and have several vehicles and my home insured with them. I have two riders on my home owners policy one for firearms and one for jewerly. The firearms are all listed by description and seriel number. I declared the value to be what they cost new which totals about $5000 and the cost for the rider is $49.

[E4 No More]

Mine are covered with these folks. http://www.collectinsure.com/

I've never had a claim (thankfully), but I've heard they're easy to work with. No need to itemize items under a certain value.

Price is quite reasonable too.

Odd: I just did a quote for $10,000 of firearms insurance, and the premium was not affected by whether I had "safeguards" or not. The price was still $71 annually.

[Guest nicemac]

When yall talk about these rates, for what term length? Are you talking 300 per year, per month, FOREVER?

annual term