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Insuring firearms

Unknown

Gunny Sergeant
Full Member
Minuteman
Sep 17, 2009
3,818
1,050
Pacific Northwest,USA
I'm looking into new homeowner's insurance, and an additional rider for firearms valued at over $2500 each. Most of the policies I have inquired about require you to list the actual firearms in order to get insurance.

All the companies I have asked, have told me that people who try to get insurance for "high end sporting goods", or "additional personal property" miss the notation that firearms are specifically excluded unless they are scheduled.

Having to prove ownership, and value makes sense, but I can do that by taking them to a gun shop and having them verify what I have, put photos, and descriptions on disc to be put in a safe deposit box, one at my home, and one in a relatives safe. If loss occurs, I can then forward the necessary part of the disc to the insurance company to prove I actually did own said firearm.

Even the NRA's program requires listing the firearms. Does anyone know about policies that I could buy without sending a list of the firearms to the insurance company.

My fear is that if their system gets hacked, knowing which houses have which firearms would be a great way to tell burglars which houses to hit.
 
Re: Insuring firearms

I understand your fear, but that would make a great script for a movie, not real life.

Do you know of even one instance in the entire country where this has happened?

When a database is hacked, it's usually for the digital financial and identification information. This is much more valuable than your closet full of guns and much harder for Law Enforcement to track.

I have all of my firearms insured on a homeowners rider. I also have separate riders for other high value items. All firearms are listed by make/model and serial number where applicable.

I would be much more worried about someone spotting you at the range, recording your plate info or following you home and marking you as a burglary target. That HAS happened before.
 
Re: Insuring firearms

Depending on the value of your individual firearms, and the extent of your collection, your best bet might be to buy a high quality gun safe/vault to keep them in. That way their protected from fire/theft/kids and you have something to show for your money out of pocket.

As far as how your homeowners policy works regarding peronal property and scheduled items such as firearms I'll keep it short and hopefully easy to understand. In the event of a covered loss (named perils on your policy for basic and broad form, and except for excluded perils on a special form) your firearms would be considered personal property and would be covered to value depending if your policy covers replacement cost (not depreciated) or actual cash value (depreciated). There is no per item limit, just know that the value of your collection comes off the personal property coverage limit for your policy, which can be a significant chunk depending on your coverage limits and the value of your collection. Especially so if there's jewelry or other expensive personal property, you might run out of personal property coverage. Where the per item limit or aggregate limit comes into play is for theft of personal property. There's where you would benefit from them being scheduled as there wouldn't be a deductible and their covered to the insured value per item. I can't speak for all insurance companies, but for your big household name insurance companies, this is how it works.

Hope this helps.
 
Re: Insuring firearms

I have all my expensive hunting/shooting items scheduled. It just makes sense. I do think you're being a wee bit paranoid on that computer hacking thing.
wink.gif
What's more likely to happen is your house will burn down, and since you didn't schedule your high dollar firearms/hunting crap, your payback from the insurance company will just piss you off.
 
Re: Insuring firearms

Fisky's point about the likelihood that my house will burn down is quite a bit higher than the insurance companies sight getting hacked is pretty valid, and something I hadn't though of.. That is exactly why I posted the initial question here....Thanks!
 
Re: Insuring firearms

Every policy I have ever had had limits unless it was on a Rider or PAF(Personal Articles Floater). So read the fine print. i.e. Up to 1,000.00. This goes for Jewlery, Firearms, and many things that can be large ticket items.

This was the place I was pointed to. USAA doesn't much like adding a Rider or PAF to their policy for 50K, 100K, 200K for a reasonable dollar.

I know several that have items insured thru this company, personal and business. You might want to read the fine print but if memory serves me correct Firearms up to 3K or something are covered without having specifics. It is difficult to dispute a video of you or a family member holding the weapon, describe it, and read the sn then a zoom in to the sn for confirmation. This shows ownership, posession and condition at at glance. Then it is just down to the nitty gritty of value. If it was done from a know smith that is done with a simple phone call by them for value.

http://www.collectinsure.com/

Hope this helps,
Mark
 
Re: Insuring firearms

I am a insurance agent and can tell you they need to know what you have if you are going to insure it.

the only exception is some safe companies will insure the firearms in the safe for up to a certain value (safe dependant).

my dad always told me if you can't afford to lose it then you shouldn't own it. home/car being excluded
 
Re: Insuring firearms

Sounds like a fact to me
smile.gif
And of course the rule just before that would be "take care of your shit yourself"

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Team-Send-It</div><div class="ubbcode-body">my dad always told me if you can't afford to lose it then you shouldn't own it. home/car being excluded </div></div>
 
Re: Insuring firearms

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: LoneWolfUSMC</div><div class="ubbcode-body">I understand your fear, but that would make a great script for a movie, not real life.

Do you know of even one instance in the entire country where this has happened?

When a database is hacked, it's usually for the digital financial and identification information. This is much more valuable than your closet full of guns and much harder for Law Enforcement to track.

I have all of my firearms insured on a homeowners rider. I also have separate riders for other high value items. All firearms are listed by make/model and serial number where applicable.

I would be much more worried about someone spotting you at the range, recording your plate info or following you home and marking you as a burglary target. That HAS happened before. </div></div>

When I was living in another town, not to be named. Three teenagers hacked into the local Ford dealerships computers. They recorded the names and addresses of the Ford owners withing a certain year range, tuns out they only new how to hotwire those years. They then stole those vehicles, they didn't try to sell them but took them joy riding and totaled them. One of my good friends just so happened to have one of the years they were interested in....

Made me think more about having my information recorded anywhere.
 
Re: Insuring firearms


Don't let yourself get attached to anything you are not willing to walk out on in 30 seconds flat if you feel the heat around the corner." De Niro. 'HEAT'.
grin.gif


<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: jAXDIALATION</div><div class="ubbcode-body">Sounds like a fact to me
smile.gif
And of course the rule just before that would be "take care of your shit yourself"

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Team-Send-It</div><div class="ubbcode-body">my dad always told me if you can't afford to lose it then you shouldn't own it. home/car being excluded </div></div> </div></div>
 
Re: Insuring firearms

I use USAA insurance for all my rifles. They told me that they were all covered and all I needed was serial numbers and picts of them. Has anyone had to put in a claim for stolen firearms? Would be interesting to know.
 
Re: Insuring firearms

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: frankythefly</div><div class="ubbcode-body">I use USAA insurance for all my rifles. They told me that they were all covered and all I needed was serial numbers and picts of them. Has anyone had to put in a claim for stolen firearms? Would be interesting to know. </div></div>
Yes, I have USAA Renter Insurance and had +$35,000 of rifles, pistols, scopes, and firearm accessories stolen back in 2008. Found out the hard way that I needed "special" insurance specifically for firearms. End result, I received a check for $1,500 regarding all the firearms, scopes and related accessories stolen. I hope you have better coverage from USAA than I did.
 
Re: Insuring firearms

Better read your USAA policy. I have had several homeowners and renters policies thru them and every one had a 1000-1500 max on jewlery and firearms unless you specifically stated a PAF for each item. NRA does the same, even as a Life Endowment member it only gives you like 2500.

I would bet you are far undercovered just as Ranger.

Better check into it,
Mark
 
Re: Insuring firearms

With state farm I have a separate policy just for my firearms. I have my local FFL write up an appraisal for each one (since I didn't have every receipt still). Then I submitted those with the serial numbers and they are separately insured. It's only costing me about $20 annually. Seems like a no brainer to me.

I wouldn't worry about the burglary side of it too much. Better chances are fire or flood like others said.
 
Re: Insuring firearms

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: ranger1183</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: frankythefly</div><div class="ubbcode-body">I use USAA insurance for all my rifles. They told me that they were all covered and all I needed was serial numbers and picts of them. Has anyone had to put in a claim for stolen firearms? Would be interesting to know. </div></div>
Yes, I have USAA Renter Insurance and had +$35,000 of rifles, pistols, scopes, and firearm accessories stolen back in 2008. Found out the hard way that I needed "special" insurance specifically for firearms. End result, I received a check for $1,500 regarding all the firearms, scopes and related accessories stolen. I hope you have better coverage from USAA than I did. </div></div>

USAA has a Valuable Personal Property (VPP) rider that you can add to your renter's policy. There, you can line item everything you want to insure and give descriptions and replacement value. It will end up costing you more than your initial policy itself in most cases, but beats getting $1500 back for $35000 worth of kit. With the VPP coverage you can also list jewlery, camera equipment, most anything the wouldnt be covered in full by the standard policy.

Hope this helps.

- Loud
 
Re: Insuring firearms

A insurance related question, I have all the coverage and a safe etc. Wondered if there was an insurance product to cover damage to a firearms ( listed )or scopes. Say and AI got dropped off a tower shooting and the S&B scope was smashed or loss by an Air Carrier, if so would the cost be prohibitive.
 
Re: Insuring firearms

I also suffered a loss of 3 rifles without the rider. My insurance company paid out a limit of $2k on the firearms, but actually reimbursed me beyond that for the Assault Systems cases they were in. That was a nice touch... still didn't make up for the Galil and others.

I'm an NRA life member... they were no help.
 
Re: Insuring firearms

+1 for USAA VPP insurance on top of some cheap renters insurance. I have everything from my muzzle brake down to my bipod and ACI covered in the value of my rifle. The renters insurance itself can cover all my reloading goodies
wink.gif
 
Re: Insuring firearms

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: shootingaces</div><div class="ubbcode-body">Did the Op say who his ins. company was?? I had USAA but swiched to Allstate. 20.00/month covers my weapons at home and way for up to 5000.00 per occurance.... </div></div>
$5,000 is great, unless you own a custom built GA Precision with a Premier Heritage 5-25x56 mounted on top with Badger rings. Complete high end customs just break the bank when they're stolen without being FULLY INSURED for REPLACEMENT value.

This is why I've become such a Howa freak. Now if I lose a "custom" rifle I'm hard pressed to be out more than a third of that $5K.