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Gun/ammo/optic insurance?

deersniper

deersniper

Protecting the Sheep
Banned !
Minuteman
    • Feb 22, 2007
    13,720
    19,928
    Northeast
    I had a plumber install a water heater incorrectly and ended up with a slightly flooded basement. It reminded me I really need to get insurance.

    Who is the best insurer for high end guns, clip on sights, optics and ammo?
    Does anyone cover theft out of vehicles ?
    Thanks!
     
    USAA. I've got a policy that covers up to 100K that covers everything whether it's at home or traveling. It's mainly for travel as my business/home policy will cover anything here.

    IMO it's cheap and a smart move. All it takes is a smash and grab POS getting a little lucky in a parking lot to lose tens of thousands, or someone knowing you're traveling with hardware and sets you up.
     
    • Like
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    First thing you need to do is talk to your homeowners and find out what coverage you have and how it works. Next you will need a log book of everything you want to cover. Likely you will get more coverage for contents just by upgrading your homeowners to your true replacement cost. But, if you feel the need to have a lot of guns completely covered you will need some kind of rider that will be expensive.

    If you are worried about minor floods get a automatic sump pump and a back up genset. Everything should be in a safe at least 4 inchs off the floor. When it comes to safes I like the idea of dividing the collection between several mid-level (liberty) safes rather than one large safe. Most burglars want to get out fast with their haul, so I hope once they locate the first safe, break into it, and pilfer it they will want to make good their escape.
     
    Or you can do what I do. I have a solid wood door on a room with plywood walls and cameras that automatically warn me of motion on both sides of the door. Nice deadbolt. The cameras take about 10 seconds to send me an alert on my phone, and the internet equipment including a battery and cellular backup device are in the gun room.

    It was all surprisingly cheap to setup. About $1k
     
    I'm interested in some different companies as well. My wife and I called a couple companies for renters insurance and the only one that offered anything was Geico. Only problem is they only cover up to $2500 of loss on firearms. We explained that 2500 wouldn't even cover one gun and the lady said there's no other providers offering additional policies in our area (SC). Sounded kind of strange to me so maybe we just got an idiot on the phone.
     
    redneckbmxer24 said:
    USAA. I've got a policy that covers up to 100K that covers everything whether it's at home or traveling. It's mainly for travel as my business/home policy will cover anything here.

    IMO it's cheap and a smart move. All it takes is a smash and grab POS getting a little lucky in a parking lot to lose tens of thousands, or someone knowing you're traveling with hardware and sets you up.
    Click to expand...

    If you don't mind saying, how much do you pay for the 100K coverage?
     
    I was told by some insurance friends it's better to split up coverages instead of having everything under one policy. one claim makes your entire policy go up. that's why I have seperate policies.
     
    • Like
    Reactions: diverdon
    padom said:
    I was told by some insurance friends it's better to split up coverages instead of having everything under one policy. one claim makes your entire policy go up. that's why I have seperate policies.
    Click to expand...

    Mine are separate policies but USAA lumps the premiums together for simple payment purposes. You're probably correct though, makes sense that they'd give bundle discounts initially if the entire thing goes up for any sort of claim and they win in the end with higher premiums overall.
     
    • Like
    Reactions: _Windrider_
    redneckbmxer24 said:
    Mine are separate policies but USAA lumps the premiums together for simple payment purposes. You're probably correct though, makes sense that they'd give bundle discounts initially if the entire thing goes up for any sort of claim and they win in the end with higher premiums overall.
    Click to expand...

    Sure they can always raise your rates, but if they charge more then they are worth then you shop and get it somewhere else.
     
    DAVID1989 said:
    I'm interested in some different companies as well. My wife and I called a couple companies for renters insurance and the only one that offered anything was Geico. Only problem is they only cover up to $2500 of loss on firearms. We explained that 2500 wouldn't even cover one gun and the lady said there's no other providers offering additional policies in our area (SC). Sounded kind of strange to me so maybe we just got an idiot on the phone.
    Click to expand...

    I have renter's insurance through Amica and I just looked at my policy documents and I noticed the same exact thing: "firearms & related equipment" coverage is limited to $2500. I might have to call them and see if there is any way to increase that, or maybe the best bet is to just open another policy with the company that Padom mentioned.
     
    Xander3Zero said:
    I have renter's insurance through Amica and I just looked at my policy documents and I noticed the same exact thing: "firearms & related equipment" coverage is limited to $2500. I might have to call them and see if there is any way to increase that, or maybe the best bet is to just open another policy with the company that Padom mentioned.
    Click to expand...
    Yeah I just downloaded the form to get a quote from them. I'll pay for coverage but don't want to pay if it won't even cover 75% of the cost. So maybe they'll cover more.
     
    diverdon said:
    Sure they can always raise your rates, but if they charge more then they are worth then you shop and get it somewhere else.
    Click to expand...

    USAA has never raised my rates and I've had a few claims. The most recent being $10K worth of body damage to my Raptor on Thanksgiving tearing through the woods on my property to a forest fire that was starting, I told them exactly what happened, they covered it fully and said my rates wouldn't go up and they haven't.
     
    Isn't there a company that works with the NRA that doesn't have all the serial number reporting stuff with it for larger cost items (like custom rifle)?
     
    padom said:
    no serial number reporting, no inventory listing, no pictures with Eastern. that's why I went with them
    Click to expand...

    Seems so strange as to why an insurance company would or could provide
    coverage without some sort proof of what's owned and what is covered..

    It is like a wide open door.. interesting.

    I shall have to look into them for a quote as well.. because I cringe at having to
    document with pics all my gun gear!

    Thanks for the info, sounds like an amazing coverage
     
    it's simple. they base their premium off a dollar amount. you want $100k in coverage your premium is X. you do have to declare any firearm over $10k

    it's no different than your personal belongings coverage on your homeowners policy. you pick a dollar amount and they give you the premium to cover than dollar amount. you don't go around your house counting and sending them an inventory of your personal belongings.
     
    Last edited:
    • Like
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    I use Gun and Trophy. I used to use Sportsman's, but their customer service was lacking.
     
    padom said:
    no serial number reporting, no inventory listing, no pictures with Eastern. that's why I went with them
    Click to expand...

    I use Eastern also, but they do require serial numbers for items over 10k on a separate schedule.
     
    padom said:
    no serial number reporting, no inventory listing, no pictures with Eastern. that's why I went with them
    Click to expand...
    That definitely makes it easier. I've always wondered how hard these companies would be to deal with if you had to file a claim though. Would they give you the run around and take forever to actually get it figured out etc.
     
    From the research Ive done and working with Eastern and talking to people that have actually submitted claims to them, everything was super easy to deal with.
     
    padom said:
    From the research Ive done and working with Eastern and talking to people that have actually submitted claims to them, everything was super easy to deal with.
    Click to expand...
    Good to know! Thanks for the info. I'm going to give them a call and see what I can work out.
     
    Thanks for the info. Worried about fire as much as anything. I have a TL30 but it won't fit everything and it's inconvenient to bring on trips.
    Will talk to Eastern and usaa
     
    make sure you read and understand the policy(ies). it's easy to hand them $x for $xx insurance, but what does that mean. fire vs theft vs something else. do they determine what your gun is worth, depreciate the crap out of it, buy you a new one. also do the math. a couple hundred every six months adds up quickly.
     
    I would also suggest security cameras. Unfortunately, as we all know, law enforcement spends the vast majority of their time tracking down criminals after the fact as opposed to stopping them in the act (not necessarily their fault, they're human just like the rest of us). Looking at it through that lens, I like to think that the more good information I can provide to law enforcement after the fact, the better chance they have of finding the shit-heeled goons who robbed my house and possibly even recovering my stuff. The wifi cameras on the market now are super easy to setup and can be monitored via smartphone. If you're leery of outside entities maliciously gaining access to your video feeds, either invest in a closed-circuit system or don't point them at anything you wouldn't want the whole world seeing.
     
    I use collectibles insurance services. They require info on the guns on the more expensive guns but no serial numbers. I also have pics of everything just for proof.
     
    If you are eligible for USAA and don't have them, you are making a mistake!

    For the rest of us, yes, a rider on the homeowners is the first check as most homeowners policies are $2500 max. NRA offers some to all members, plus additional. Eastern has been good from what I have seen. Also, be aware that some policies only cover guns, some the whole assembly. I have seen folks get their guns replaced, but no coverage for their optics. I do a declared value on my rider with my Insurance carrier which gives me the $2500 as a buffer. Plus I have the NRA insurance as a member. I have had it so long, they no longer want the serial numbers or list, just a total value.
     
    davsco said:
    make sure you read and understand the policy(ies). it's easy to hand them $x for $xx insurance, but what does that mean. fire vs theft vs something else. do they determine what your gun is worth, depreciate the crap out of it, buy you a new one. also do the math. a couple hundred every six months adds up quickly.
    Click to expand...

    no. guaranteed replacement cost. no depreciation. and all that is covered, fire, flood, theft, accidental damage, etc.
     
    jg6.5 said:
    I would also suggest security cameras. Unfortunately, as we all know, law enforcement spends the vast majority of their time tracking down criminals after the fact as opposed to stopping them in the act (not necessarily their fault, they're human just like the rest of us). Looking at it through that lens, I like to think that the more good information I can provide to law enforcement after the fact, the better chance they have of finding the shit-heeled goons who robbed my house and possibly even recovering my stuff. The wifi cameras on the market now are super easy to setup and can be monitored via smartphone. If you're leery of outside entities maliciously gaining access to your video feeds, either invest in a closed-circuit system or don't point them at anything you wouldn't want the whole world seeing.
    Click to expand...


    exactly. insurance is just another level of protection. as an owner of 2 IT companies you won't step foot on my property without being caught in full 4K HD by POE PTZ vandal domes and screenshot notifications being sent to my phone once you enter areas I've designated. a good hard room to slow criminals down is another good thing.


    I've installed HD POE CCTV at many gun ranges, gun stores, and big name gunsmiths on the Hide. These systems are a small price to pay these days and have been used successfully in court or to catch criminals more often than you think.
     
    • Like
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    I also found out about a year ago that my renters insurance had a $2500 limit to firearms if broken into and stolen. I switched to Texas Farm Bureau, they have NO limit to firearms stolen. So a $50,000 - $100,000 policy or larger covers ALL stolen property, with no limit on firearms, scopes, suppressor, ammo, etc. I did have to itemize for them, but no serial numbers. Very cheap premiums, mine is around $40 a month.
     
    I use Collectibles Insurance. About the same rate and policys as Eastern. Very affordable. I've never put them to the test.
     
    I went with collectinsure think it was $200 for $50k in coverage I may need to check out eastern though
     
    Go with Eastern over USAA

    I'm dropping my USAA coverage. They're not the same company they were 5-10 years ago.
     
    I had Usaa for home and vehiclefor 15 years. Homeowner policy went up every year with no claim at all, ever. Kept the auto and went with Farmer's, rate was 1/3 of Usaa.
     
    Eastern. It's a nice piece of mind when you're not home, or even at the range when you go to check targets..
     
    • Like
    Reactions: PAYDIRT
    I roll the dice. Borrow $ put it right back into the bank, make the payments the same as I would an insurance payment and hope for the best.
     
    The problem with putting them on your homeowners insurance is that it either only covers a small anount $5000 or so, or you have to schedule each item which can be very costly when it’s all said and done.

    I also have a policy through Eastern insurance. It’s very good for the coverage and cost and they cover all kinds of shit. Like if my gun falls off a rack T the range and my scope breaks, it’s covered.
     
    redneckbmxer24 said:
    USAA. I've got a policy that covers up to 100K that covers everything whether it's at home or traveling. It's mainly for travel as my business/home policy will cover anything here.

    IMO it's cheap and a smart move. All it takes is a smash and grab POS getting a little lucky in a parking lot to lose tens of thousands, or someone knowing you're traveling with hardware and sets you up.
    Click to expand...


    +1 USAA. I've got Valuable Personal Property on all my toys. Won't tell you how much, but if it breaks..... full replacement value. Can't beat that.
     
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