Insurance for firearms

Few questions

1. Do you insure you firearms? If yes is it through homeowners or separate?

2. If yes do you worry at all about all your guns being “known”?

Thanks

Home owner's policy, declared with serial #s and what I felt it would cost to replace.

And pictures, actual purchase cost, rarity or other notes of current value, documentation, etc.  

Also needed for estate planning.  I'd hate for my wife to sell them for what I told her I paid for some of them!

CR

My home owners underwriter will not insure firearms, so I got my insurance through the NSSA. I live on Salt Water and it is hard to get any coverage, period. 

Bob

Has anyone ever filed a claim with the NRA sponsored Lockton Insurance?  If yes, how did it go?

I insure my guns through Larry Cushman at GUNANDTROPHY.COM  (703) 901-4899

He specializes in insuring high grade guns and trophies. With the coverage I have, you only have to specify details on guns worth over $10,000.

I met him at a trap shoot in Bridgeport, NY a few years ago. Very nice guy, no high pressure sales pitch, won't try to sell you more than you need.

I've never had a claim, fortunately, but people on the shotgun forums say he settles quickly with no difficulties.

Ric

Have mine thru homeowner's. Update every year on policy anniversary. They used to be real fussy about value.  Now they just accept what I send them. My son gave me a neat book from the  NRA that you can write about every gun. He even took the time to fill out the line for me on who inherits.

ric1911a1 wrote:I insure my guns through Larry Cushman at GUNANDTROPHY.COM  (703) 901-4899

He specializes in insuring high grade guns and trophies. With the coverage I have, you only have to specify details on guns worth over $10,000.

I met him at a trap shoot in Bridgeport, NY a few years ago. Very nice guy, no high pressure sales pitch, won't try to sell you more than you need.

I've never had a claim, fortunately, but people on the shotgun forums say he settles quickly with no difficulties.

Ric

Thanks ric1911A1,
I just checked out the website and was amazed at how low his rates are compared to what it would cost under my homeowners policy.

I'd be very careful insuring your precious firearms through any insurance company.. I tried a few years ago and they wanted to know where they were kept and the serial numbers.. Basically I figured I was registering my guns and any crackpot Admin like  we have now will go straight to the companies with a court order to get the names, serial numbers and your address. Invest in a good strong safe and know your neighbors.

I'm a bit concerned with providing that info to the insurance company, but that's the only way they will provide coverage.  If the Feds or State officials want to identify or track your guns, I don't see how they would know who they're insured with unless you give them that info.  That said, I'm 77 and have never insured my guns so far and I'm living in a very secure community.

Agreed.
   All the current admin has to do is pass  a bill or EO and these companies will be falling all over themselves to provide the info so as to not be dragged into federal court.
 We have moved to a very safe area with neighbors who came out of their homes at midnight last year.. armed.. when my car alarm went off. It turned out to be nothing. But it's nice to have folks who are looking to keep everyone safe

After reading this post I asked my agent if I had coverage. Yes, but limited to $3,000 and they won't schedule. Searching online I found Collectibles Insurance Services (collectinsure.com). A rated with A.M. Best. $20k coverage for under $150/year. It's a special policy for "gun, knife & edge weapon collectible property". Covers guns, optics, reloading equipment, ammo. Burglary, theft, loss, breakage. At home and while traveling. Covered in shipping. Pretty comprehensive. Price seems reasonable. I gave them a list but no serial numbers.

mspingeld wrote:After reading this post I asked my agent if I had coverage. Yes, but limited to $3,000 and they won't schedule. Searching online I found Collectibles Insurance Services (collectinsure.com). A rated with A.M. Best. $20k coverage for under $150/year. It's a special policy for "gun, knife & edge weapon collectible property". Covers guns, optics, reloading equipment, ammo. Burglary, theft, loss, breakage. At home and while traveling. Covered in shipping. Pretty comprehensive. Price seems reasonable. I gave them a list but no serial numbers.

WOW, this is awesome!  Thank you for the tip, Mike!  I just ran quote and it is very affordable! 

AP

It was necessary for me to use the NRA insurance policy one time. Was approximately 30 years ago, but do remember that it was fairly straightforward. I provided the police report which included date, time and location of theft. Whoever stole it either still has it or ditched it, as it has never shown up in any records.

For what it's worth, most homeowners and renters polices do cover firearms under personal belonging's coverage such as jewelry. Usually the aggregate amount is substantially limited, and in many cases will only cover one o two guns value at most.  High value or collectible guns are also generally excluded unless listed specifically in the policy.

As far as insurance goes, it really depends on your individual risks.  I insured the guns I traveled with, for a while,  but really the cost of insurance verses value to me,  is rather high.  

If I lived in a high crime state, or city, my calculations would probably change.  

Ideally insurance for anything is to keep the loss from bankrupting you.  I don’t insure cars, except for required liability insurance that are worth under five k for a reason.  Cost of insurance to value isn’t worth it.  
The same applies to most of my guns.  
The most likely cause of loss, if you store your guns in a safe, is fire, smoke, water and heat damage.   We probably should be figuring out of our homeowners policy  will cover rebluing and repairing your entire collection, which happened to one guy  my gunsmith knows.

PhotoEscape wrote:Subsequent research into Collectibles Insurance Services (collectinsure.com) ended with "Unfortunately, CIS is not able to insure you...." email from one of the representatives.  Issue boils down, AFAIU, to  the fact that our firearms aren't really collectables, and being actively used.  My research found multiple complains from insured, that had claims related to losses incurred while items were in possession of third parties, i.e. framing services for art / comic collectors, or just during shipping.  CIS denied claims based on the fact that items were willfully entrusted to such third parties, and hence should be taken care by insurance carriers of those third parties.  CIS is unwilling to do any work on behalf of its customer(s) and subrogate insurance carrier(s) of the third party.  In our case it would be if something had happened at the gunsmith shop, or during shipping either way or item being stolen at the range. 



AP

In other words, they are perfectly happy to insure your guns as long as you are already keeping them in your safe deposit box.

PhotoEscape wrote:Subsequent research into Collectibles Insurance Services (collectinsure.com) ended with "Unfortunately, CIS is not able to insure you...." email from one of the representatives.  Issue boils down, AFAIU, to  the fact that our firearms aren't really collectables, and being actively used.  My research found multiple complains from insured, that had claims related to losses incurred while items were in possession of third parties, i.e. framing services for art / comic collectors, or just during shipping.  CIS denied claims based on the fact that items were willfully entrusted to such third parties, and hence should be taken care by insurance carriers of those third parties.  CIS is unwilling to do any work on behalf of its customer(s) and subrogate insurance carrier(s) of the third party.  In our case it would be if something had happened at the gunsmith shop, or during shipping either way or item being stolen at the range. 



AP

interesting, 

I spoke with a rep a year ago about insuring my shop inventory, and they were happy to , 

even covered on the road /gunshow (incase of break in of vehicle while traveling or theft at a show)