Posted: 1/18/2009 8:54:03 PM EDT
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Right now have a policy on my homeowner's that's about $70 / yr. for about 1/2 of my collection with $1,000 deductible. No serials required.
Does this sound about right or is there a better option? |
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Quoted:
I have a policy that covers each firearm totally and cost about $12/month with no deductible. USAA  I have the USAA extra coverage on the firearms and other high end stuff. Only did this after we got broke into. Lucky they didn't get into the safe but boy we lost an ass load of crap from the thief and USAA's decreciation formula. 
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| Get a special insurance rider....I have home owners but also a policy that insures each firearm and all of the accessories (EOTech, lites, etc.). This policy insures the guns for theft and also "incidentals"....if I go to the range and something happens like a bad round that damages the gun....it is covered at full replacement value. I go through State Farms for all of my insurance. (they also have a similar policy that covers computers. |
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Quoted: But doesn't State Farm make you get an appraisal of your firearms? They wanted me to do that the last time I checked.Get a special insurance rider....I have home owners but also a policy that insures each firearm and all of the accessories (EOTech, lites, etc.). This policy insures the guns for theft and also "incidentals"....if I go to the range and something happens like a bad round that damages the gun....it is covered at full replacement value. I go through State Farms for all of my insurance. (they also have a similar policy that covers computers. |
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Quoted:
Quoted:
I have a policy that covers each firearm totally and cost about $12/month with no deductible. USAA I have the USAA extra coverage on the firearms and other high end stuff. Only did this after we got broke into. Lucky they didn't get into the safe but boy we lost an ass load of crap from the thief and USAA's decreciation formula.
MY policy uses current market replacement value on all items insured. |
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You will likely need to schedule any firearms valued over $2500 (ie insure them each seperately). For everything else you can add very inexpensive "blanket coverage" for you firearms and accessories.
Remember that most policies only apply a limit on the THEFT of your firearms. If they are lost in a fire, tornado, etc. then your insurance company should pay you full replacement cost as if they were any other item in your home. |
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Quoted:
You will likely need to schedule any firearms valued over $2500 (ie insure them each seperately). For everything else you can add very inexpensive "blanket coverage" for you firearms and accessories. Remember that most policies only apply a limit on the THEFT of your firearms. If they are lost in a fire, tornado, etc. then your insurance company should pay you full replacement cost as if they were any other item in your home. They will only pay full value if you have the replacement cost endorsement on your policy. Most policies are actual cash value(depreciated)unless replacement cost endorsement is on. Also you still only have up to the policy limits for all personal property so make sure you have enough coverage on your policy for everything you own as well as your collection in the event of a fire. |