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Posted: 12/31/2006 7:37:26 AM EDT
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OK, I have been using a company to insure my NFA collection. But I have an uncomfortable feeling about them. The renewal doesn't have ANY mention of what is being insured. Just "gun collection". Come on, I went to the trouble of listing the NFA weapons I have complete with estimate of replacement value and serial number. I specifically requested that they include this data as an addendum to show what is insured. The response back was useless. Company name is Collectibles Insurance Services. I am wondering what if anything everyone else might be doing. Care to share or comment on this? |
Do you mean Collectible Insurance Agency?? I use them and their very vague. I also am looking to see what else is out there. Thanks |
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Thanks guys, I have a good fireproof safe, but the value of the collection is too high to leave uninsured. Yes, it is CIA. I have had them for 2 years but they are SO vague I'm thinking it gives them escape room to not pay if someone makes off with my toys. And since I asked them specifically to list my NFA and values with the policy and they did not I am thinking it was not an oversight. I might have to rethink all of my insurance needs. Anyone else get an insurance rider for their toys? How about for jewelry? |
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Farmers Insurance Group told me my firearms were too powerful to insure. Collectables used to specify that thier insurance covered display and travel to display but would not insure firearms that were currently being used for shooting. You might want to verify that with them in case it has changed. |
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I have collectibles and here is their FAQ .... They pay the replacement value of a gun ..... Usage seems iffy ...... They don't cover KABOOMS ....... FAQ: www.collectinsure.com/faqguncollectgen.htm |
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Well, I guess I am just paranoid. If it doesn't list what is covered what happens if I make a claim for a weapon or weapons stolen in the night? What if someone brings a crane and steals my entire safe. They just gonna cut me a check or what? Does anyone know if they have ever PAID a claim? Seems like what they are covering should be described in the contract. I'll call them tomorrow. |
| There was a guy on subguns that said they paid him, post was sometime in 06.. I also have CIA and really drilled them about the vaugeness.. Of course they assured me.. They are underwritten by chubb, if you review your policy, looks legit.. I know a lot of guys on subguns have went with them, i'm sure if there was an issue, we'd know by now. |
Thanks. That helps. I would like them to show me what THEY consider a value for an M16A1. The value to ME is what it would cost to replace it. And that would be over $10,000. What if they say the govt only pays $800 for them? Just very unhappy with their lack of speciics. Gonna nail them with it on Tuesday. I emailed them a complete list of what I wanted to insure and at what valuation. I want it attached to the policy. |
You will be able to insure the items for scheduled (listed) amounts. Be sure to document all items in question with sufficient proof of ownership including pictures and it will not be an issue. |
Also remember that your $10-15k M16A1 will someday be worth a whole lot more (barring a lift of the '86 legislation---one could only hope, although for current owners it would be a 2-edged sword). The value of your NFA today is not the value of your NFA tomorrow. I wonder if that fact could somehow be incorporated into an insurance policy, as the market value fluctuates and tends toward an upward trend 
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Every once in a while, I send my insurance agent a new listing of my firearms covered in my policy. I update it from adding new ones or if I happened to get rid of one or two. In doing this, I also adjust the amounts that I have each firearm insured for pending on the currrent values. Sometimes it reflects in my yearly premium, but not by much usually and it is definetely worth it, but I am sure that it will vary from company to company. |
This is correct (and very good information). You should update the list at each semi-annual renewal when you pay your premium. |
Now THAT seems like the way to go. List your insured firearms VERY specifically (ie "transferable Colt M16A1 serial #xxxxxx") and update the market values at least annually. |
I have all of my firearms listed on my policy by make, model, serial number, any special features, modifictions and then the value. I have a copy saved on my computer, in my safety deposit box and my insurance agent has a copy of it at his office with our file. 
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Well, I called to day and told them I wanted more information. They said what I had wasn't the policy - just a renewal. So they will be sending me the new policy. If it doesn't say what is being insured and for what value I'm done with them. It mails today so I should know in a few. |
I can tell you, it is very difficult to find an insurance company that will insure firearms in a seperate policy with your home owners. I have had numerous other insurance agencies inquire about changing me to their home owners insurance and when I tell them "OK, but if they can match my gun policy that I have seperately through my current home owners," they always call back and say "no thanks, we just can't do it." I always just tell them that I figured that they couldn't. I feel pretty lucky about my policy! 
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I use these guys for my firearms insurance. You only have to itemize individual items over $10,000 and they cover not just the guns, but all of your accessories. Read the site and give them a call. They know what they are doing and it has been a painless experience. At the level of coverage I have it costs me about 40 cents per hundred dollars of coverage. No restrictions on use or travel with the guns. |
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I am embarrassed that I already forgot his name. Maybe it was you. I was sent that company to check out. Perhaps there is something that site doesn't like about Safari. It is garbage. Perhaps I'll fire up Firefox and try again. Nope. Firefox doesn't like that page either. |
It looks like it's not just their website that's screwed up. I copied the INFO addy from the raw HTML to send them a note and got this:Your message did not reach some or all of the intended recipients. |
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