Firearm insurance?

[HiDesertELR]

I have a question for anyone that has made a claim through Eastern. How do they handle a claim, as far as payment. How is the value of the firearm/optic decided? do they pay current full price for replacement or depreciated price? What about a custom bolt gun you put together or high dollar home built AR, how is that price determined?

Don't quote me, but with Eastern, you fill out a form on type/model/value. I'm assuming they pay "loss" on the item and your stated value. Pretty sure that's what Laura told me, but give her a call and check. Unless the "list" you give them exceeds $45K, it's under a basic umbrella policy. Anything above that, I think it's extra $$$ for coverage.

Meantime, I'll check my paperwork and post a pic of the pages...

 

[striped1]

Generally the only sublimit on firearms in your standard homeowners policy is for theft. Fire, tornado, etc, are all covered under your standard HO policy at full replacement cost (if you have selected that valuation)

 

[ZY100]

I have had USAA for a long time, and they are great. Firearms are only covered on my HO policy for peril and theft up to 10K. It is expensive when add you firearms (by serial number) to your VPP rider.

I just got on with Eastern. Very reasonable, covers my gear at home, on the range, and when traveling for theft and damage with a $100 deductible. Damage, as in if the baggage handlers runs it over or it falls off the table onto the optic at the range.

Laura was super easy to work with, called her in the AM, policy in place by COB. $50k firearms/accessories + $5K ammo + $5k reloading equip/components for $167 yr....and it is replacement value. This also stacks with my HO if the house burns down...

But yes, you need a police report and forced entry...not forgetting to lock your car.

Seems pretty solid to me.

ZY

 

[gnochi]

I went with Collectables Insurance; Eastern looks tempting for when my policy is up though. I think I remember that they excluded California when I looked a couple years ago but I didn’t see anything on a quick glance just now.

 

[cropdude]

Eastern looks like a good deal, I am going to call today. But just like others it sure would be nice to have some current reviews on claims.

 

[GIXXER2000]

I have used Eastern for the last 7 years.

 

[kwlazycarr]

Eastern insurance. I have $50k insurance without having to give them a list. It’s something like up to 5k of that can be used for loading equipment and ammo. It’s under $150/yr.

Just have to produce a police report for stolen goods or whatever type of accidental/fire report. For theft, it has to be forced entry. So, just make sure your doors are locked wherever the rifles are.

Eastern blanket coverage is easy. They didn’t fight my one and only claim

 

[elwarpo]

Another with Eastern Insurance

 

[AznTactical]

Dumb question. Initiated a quote for my firearms with Eastern. Awaiting phone call back. I noticed they only had "history firearms" as the option for firearms. It's the same thing right? My firearms are fairly modern and new school. Nothing really historic. Maybe just my Norinco SKS is "historic".

 

[jda2631]

Dumb question. Initiated a quote for my firearms with Eastern. Awaiting phone call back. I noticed they only had "history firearms" as the option for firearms. It's the same thing right? My firearms are fairly modern and new school. Nothing really historic. Maybe just my Norinco SKS is "historic".

Yea that's just what they call it. it covers everything, including optics and accessories, suppressors and stamps. it's legit. I have had to make a claim with them, was a pretty large claim, and they were excellent. can't recommend them enough.

 

[Namekagon]

Another vote for Eastern. I've never had to make a claim, we just signed up. But it was very easy.

Edit to add: Their coverage was significantly better than Collectibles, at less cost. Collectibles told me they wouldn't cover my PVS-14 becasue it was wearable. Eastern covered it. Along with reloading and ammo coverage. Great deal.

 

[AznTactical]

Yea that's just what they call it. it covers everything, including optics and accessories, suppressors and stamps. it's legit. I have had to make a claim with them, was a pretty large claim, and they were excellent. can't recommend them enough.

Do they pay replacement value, msrp, map value, value that you actually paid or value with wear & tear calculated?
For example I have a S&B scope. Eurooptic.com has it for $3700. I bought it for $3000. Wear & Tear value probably $2500 now.

 

[Downtown]

The issuers we're speaking of, Eastern and Collectibles, are not like homeowners insurance with expensive riders. They insure the entire value of collections without even having to identify by serial number individual items, and do it quite reasonably. A hell of a lot different from homeowners.

 

[SmokyJoe]

Do they pay replacement value, msrp, map value, value that you actually paid or value with wear & tear calculated?
For example I have a S&B scope. Eurooptic.com has it for $3700. I bought it for $3000. Wear & Tear value probably $2500 now.

Replacement value. With that increasing so much this past year re-evaluating your coverage and bumping it if needed might be a good idea for those at risk of total loss (wildfires). Get good photos of hardware and scans of docs into safe storage.

 

[jda2631]

Do they pay replacement value, msrp, map value, value that you actually paid or value with wear & tear calculated?
For example I have a S&B scope. Eurooptic.com has it for $3700. I bought it for $3000. Wear & Tear value probably $2500 now.

Replacement I assume, but I'm not exactly sure. I gave them a list of firearms and accessories stolen (some of the items aren't made anymore so I gave them the item and the closest replacement). Then I went and calculated the cost of all of those items from the MSRP listed on the manufacturers website , I didn't give them that total number. Just was going to argue if it came to it that that is replacement value. When they got back to me, their number was like $400 over the number I had calculated myself. They covered some backpacks, a RRS tripod and head, range finder, binoculars, even like slings that were on firearms. So it wasn't just the firearms and optics attached to those firearms. They covered literally everything. I can't recommend them enough.

 

[FrelancerFrank51]

According to the ordinance, liability insurance will be able to cover losses and damages that result from the accidental use of a firearm, including negligent death, personal injury, and property damage. If a firearm is stolen or lost, the gun owner will be liable until they report the incident to the appropriate authorities. However, gun owners who do not have insurance will not have their guns taken away or be prosecuted. It's like home insurance, like https://www.youi.com.au/home-insurance.

 

[HenryTheAce]

Good info on this thread. Signed up today and went with with Collectibles Insurance

 

[acudaowner]

while I am sure it's a good thing to have insurance on now a days . It does sound like a new way to get you to list your firearms for when the government wants to come a calling for confiscation . Oh he has this and this and this listed go get it even if they don't , I don't like listing all of them for anyone besides god already knows what I have and what I am planning on takings with me .

 

[HenryTheAce]

while I am sure it's a good thing to have insurance on now a days . It does sound like a new way to get you to list your firearms for when the government wants to come a calling for confiscation . Oh he has this and this and this listed go get it even if they don't , I don't like listing all of them for anyone besides god already knows what I have and what I am planning on takings with me .

You don’t list any of them with collectibles so long as a single item isn’t more than $25k.. you just give them a total collection cost and that’s it.

 

[spife7980]

while I am sure it's a good thing to have insurance on now a days . It does sound like a new way to get you to list your firearms for when the government wants to come a calling for confiscation . Oh he has this and this and this listed go get it even if they don't , I don't like listing all of them for anyone besides god already knows what I have and what I am planning on takings with me .

If you go with Eastern you only have to list an item if its over 10k for that single item I believe.

 

[jda2631]

If you go with Eastern you only have to list an item if its over 10k for that single item I believe.

That's correct. And for clarity, a $9k AI AXSR + $5k TT + $2k TBAC + $9k clip on + $8k RAPTAR setup would not need to be listed because none of those single items are over $10k alone.

And when making a claim, they don't ask you for serials or anything.