Let's talk gun insurance

I normally check values in the gun traders guide. It has most everything in it and tells you NIB, good, and fair condition prices

 

FYI if you are an active/current NRA member you get $2,500 in free firearms coverage. You do have to activate it though.

 

Ooh. good thinking. I need to get my stuff appraised. None of my guns are newer than 1965.

 

I just went through this with my home owners I carry a rider for $50,000 + $2,500 standard w/HO since it is sold in values of $10,000 for a total of $213 a year added to policy. I also have addl $2,500 with NRA for a total coverage of $55,000....

Insurance companies can't ask for serial numbers (they only need to be disclosed for theft) only pictures and you will only get market value for each gun for replacement cost. My policy covers all accessories as well scopes,cases,holsters,extra mags etc: as long as you have pictures I documented with Video as well as pictures and spread sheet I keep offsite in a safe deposit box.

 

I've got the basic NRA coverage as well, and I have $50k of coverage for 'personal property' on my homeowner's. It's a blanket coverage for everything from clothes to tools to my guns.

 

You might want to do a policy check-up as to what is exactly covered under total loss everything has a limit guns,jewelry,furs etc:

You can eat up a policy coverage limit real fast when replacing house hold goods such as clothes,TV electronics,dishes,pots and pans etc:

My policy is replacement cost to rebuild my house at today's costs plus $200,000 personal property that also covers $25,000 Jewelry, $20,000 Tool riders then $55,000 for guns

 

People under estimate value until it's to late then you are toast when it comes to the Insurance companies wanting to pay for what you had....

 

I have; The $50k would be more than enough to cover whatever personal possessions I'd be likely to lose. The only thing that would really cause a total loss for me would be a fire, since we're well above any floodplains and I don't live in an earthquake-prone area. Since my garage isn't attached to the house (and they're about 40 feet apart), I don't have to worry about losing both in a fire. So I'd either lose my tools, or I'd lose furniture, appliances, clothes and the guns. Neither on their own would add up to even close to $50k, so my agent advised against paying for a higher coverage level.

Edit- And a total loss of either would be very unlikely, since the house has a sprinkler system, one of my neighbors is a 'state worker' who never leaves his house, and I live less than 5 miles from the fire station, lol.

 

I shoot all of my guns some more than others but take very good care of them as well as base my values on 90-95% replacement cost as a rule of thumb.

 

That works for some. me I don't want to lose something that I have worked very had to have.....

 

Yeah...
If I had more (or better ) stuff I'd definitely go with a higher coverage, but I live pretty frugally. No big-screen plasma TV's or top-end stainless steel appliances to replace, lol. My power tools are all old (antique, mostly) Craftsman & Delta stuff from Craigslist, too.

 

Lol...

yeah I have two people in the house hold and my Girl Friend has expensive taste in clothes and other items pot's pans,blenders,crock pot, fancy sandwich press machine and other kitchen shit that will eat up the limits real fast let alone the damn furniture...

 

Read your policy, esp. The fine print.
My homeowners tops out at 300k total, but in the fine print it states that firearms are limited to $5000. It doesn't take a lot to exceed that.
Buy a good gun safe and have a hard install, only a pro could get in. It's also nice to have a secure safe, figure 1500-2000 for a good one, 700 for a ok one.

 

The only safe you should have is a made in the US of A Liberty. If anything damages the safe, they will replace it free, forever. Few companies will offer that level of quality and service. Take every gun freebie insurance possible. Embrace your NRA benefits. Embrace your local gun club benefits. If you are not a member of either and care about your 2nd amendment rights, I suggest you consider joining. Look at your homeowners/renter benefits. I purchase substantial coverage above my homeowners, just in case. It is far cheaper to over insure than underinsure.