historic firearms or collectible insurance claims?

[kidkl]

I am wondering if anyone who has a historic firearms insurance ( The Historic Firearms, Collectibles and Sporting Arms program at Eastern Insurance ) have made any claims under your policy? I am looking at replacing an existing homeowners insurance rider and it looks like this will be about 1/2-1/3 the cost for more $$$ coverage. I am just looking for anyone who has had any experience filing a claim. I have done a ton of searching, and I can find people who had historic insurance but not anyone who has mentioned having to make a claim. Just want to make sure that when/if it does come time to make a claim that the saving money now will not screw me in the future.

Would also be interested in hearing from people who use Collectible (collectinsure.com) about how your claim process went.

 

[LanceS4803]

Thankfully, I have never filed a claim with them. I am interested in hearing of any experience.

From my research, they are less expensive than anyone else, while not being overly burdensome with their requirements. It does get expensive though.

 

[kidkl]

Bueller?

 

[308Gunner]

I have all of my guns insured through USAA, I have all of my insurance there and they have GREAT service. I had a rifle stolen I gave them a call, sent a replacement cost and 3 days later I had a check. I have a 1st gen Peacemaker and had to get an appraisel but other than that no problems.

 

[TexasGunTrustLawyer]

I have never done so.

I know two people that have had M16s stolen and both of their homeowners insurance policies paid to replace.

One has been recovered and I am attempting to get the M16 back from the BATFE.

 

[Phil1]

contact NRA

 

[Bonjourjr]

I have all of my guns insured through USAA, I have all of my insurance there and they have GREAT service. I had a rifle stolen I gave them a call, sent a replacement cost and 3 days later I had a check. I have a 1st gen Peacemaker and had to get an appraisel but other than that no problems.

I looked into that but USAA wanted a list of make and model along with serial numbers of all my guns that I wanted to be covered. I wasn't a fan of USAA having a list of my firearms so I put it on the back burner for now.

Do you have all of your guns covered or just ones that are worth a pretty penny? did they ask for the make, model and serial numbers prior to getting/approving coverage? Thanks

 

[drafter]

I wish some guys would list how much coverage costs ????
In other words, for every $10,000.00 worth of coverage it costs you $???.?? per year?
This way no one is saying hey, I have $100.000.00 worth of arms insured and it costs me $XXX.XX
And yes, did you have to list ser.#'s would be helpful and company name so we know who to deal with when we decide.
Appreciated.

 

[kidkl]

Drafter,

Historic is $125/year for 35k of coverage (which is more than I need, but thats the lowest they go). Collectible is $212/year for 35k of coverage (just for an apples to apples comparison). State farm is whom I currently have is over $400/year with much less coverage.

My understanding with both of Historic and Collectible you only need to list a specific firearm if its is over 10k for historic and 5k for Collectible. You have to have an appraisal at anything over 50k for historic. No serial numbers. I assume when you have to make a claim that you would need to have the Serial numbers/price that you paid/photos and what not. But I am just trying to find people who have either of those and who have made a claim.

P.S. - Statefarm needed the serial numbers and description of all the rifles, and an appraisal of anything over 5k.

 

[308Gunner]

On USAA they need Make, Model caliber and cost of replacement. My coverage is for 50,000.00 and cost is about 50.00 a year, but I have my homeowners and vehicles through them so it is cheaper.

 

[xciapup]

I have been a member of USAA since 1985. I have been slowly extracting my business relation with them for about the last 10 years. Once upon a time their risk pool looked like me. Honest. Paid their premiums on time. Filed very few claims. Never, ever, defrauded the association. Now, not so much. They are just another company with a risk pool that is not different than any other good company. They are as good this minute as they will ever be. It is all down hill from here. So if you are good with that, and the contract is for a year, go ahead. But if you are doing business based on a 20 or 30 or 40 year time frame, like life insurance, I think you better think twice.