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Posted: 11/2/2008 10:46:44 AM EDT
[Last Edit: 11/2/2008 10:48:47 AM EDT by shootemup]
I need to insure my firearms, especially after investing in a Barrett.

My home owners insurance wants all the serial numbers of the firearms, and I'm a little reluctant to give it to them.

I found two ins. companies suggested in a search of the board.

www.locktonrisk.com/nrains/armscare.asp

was one and the other was



http://www.collectinsure.com/]http://www.collectinsure.com/]http://www.collectinsure.com/

I was wondering if anyone has used the above mentioned insurance companies, added a rider to their home owners insurance, or decided to use something else?

Thanks guys


Shoot.
Link Posted: 11/2/2008 10:50:02 AM EDT
I just use a rider on my HO policy i pay an extra 2 bucks a month for 10,000 coverage
Link Posted: 11/2/2008 10:53:23 AM EDT
NRA endorsed insurance. No questions on serial numbers.
Link Posted: 11/2/2008 10:54:57 AM EDT
It differs by state and your insurer.

I'm with one insurance company now and they would simply be added to your existing homeowner policy based upon "agreed value" up to a certain dollar amount of about $9,000 per firearm. Beyond that figure, a receipt or appraisal would need to verify the value of individual firearms above the $9,000 figure.

I'll be starting with a new insurance company in a few weeks, and they do not allow them to be added onto your homeowner's but require a special and separate policy be written called a, "Personal Articles Policy". In addition to firearms, this would be where you'd also insure your wife's wedding rings, golf clubs, computers, etc.

Again, depends on your state and insurer.
Link Posted: 11/2/2008 10:56:54 AM EDT
Take out a rider on the HO policy. Make sure that the items are spelled out specifically and then there should be no deductable.

I took out a rider on my HO policy without itemizing the firearms/equipment. A month ago I was involved in an accident with a drunk driver who was doing about 60-70. My TA31 ACOG that was in the trunk was toasted. Fiber optic cable trashed, reticle appears to be off, etc.

I have a $1,000 deductable that applies, since the item wasn't specifically noted in the policy.

So if I bothered to make a claim I'd get a check for $14 on my $1,014 optic.

Take out the rider and make sure there is no deductable.

My teammate's rifle went through the windshield (broke loose from the interior roof rack) and into my vehicle (he was behind me).

Fucker rents and has a no deductable policy. His shattered Eotech and replacement M4 were all covered 100%. Lucky bastard.
Link Posted: 11/2/2008 10:59:17 AM EDT
[Last Edit: 11/2/2008 11:01:36 AM EDT by reconBYfire]
Schedule them on your HO policy; Rider

Advice from an insurance agent.

ETA: damn editor
Link Posted: 11/2/2008 11:09:00 AM EDT
I dealt with the very same issue with USAA, and ended up giving them the serial numbers, barrel lengths, model and make of everything that was insured. I wasn't comfortable with this info being in someones data base in the event it was compromised, but having been the victim of theft before, went ahead and did it anyway.

Adding a rider to your HO policy is probably the way to go. Be sure to ask LOTS of questions, as insurance agents-either because they're crooks, or because they don't care-have been known to leave important info undisclosed. Some riders have a monetary limit, so make sure you know the value of your weapons-in other words, multiple riders might be needed. Make sure ALL causes of loss are covered in order to indemnify you.

Often times, the best rates are offered first, when paying a few dollars a year more vastly improves coverage. Auto collision is a perfect example. It only cost a little more (a couple of dollars monthly) to lower your collision deductable from $500.00 to $125.00, for example. Again, ask lots of questions (I always walk the agent through a scenerio, to make sure I'm getting what I want).

I'm not an insurance agent, but I took the property and casualty exam (succesfully), and it opened my eyes to how vulnerable an insuree is if his or her coverage is not specified down to the finite details by the insurer.

Shop around. Some companies in some states offer better rates than others, especially if you insure both your home and auto concurrently by the same company.

Good luck.
Link Posted: 11/2/2008 11:10:39 AM EDT
Link Posted: 11/2/2008 2:46:10 PM EDT
Originally Posted By Aimless:
Some homeowners insurers freak out when they found out that you have a scary arsenal. A separate policy might be better


Safeco is fine with firearms. They're one of the few compnies, to my knowledge, that give you a blanket coverage amount for personal property.

Example:
My policy through Safeco covers X dollars...for everything. If my home were to burn down tomorrow I just give them a dollar amount/list of my destroyed property and they cut me a check.

Most other companies have limits on each catagory.

Example:
Company ABC, on the other hand, has limits for each catagory. You have 10,000 worth of coverage on clothing. Have $20,000 worth of duds that burned up? Tough.

You had $10,000 worth of firearms? Too bad: not one of our covered catagories.

You don't have $10,000 worth of jewelry? Too bad. You can't carry it over to cover other catagories.

Etc. etc. etc.

I have no beef with Safeco (my company): I just have a beef with the way my policy was worded. I'm out a $1,000+ ACOG because of it, so learn from my mistake.

Perhaps an Airsofter would buy it...
Link Posted: 11/2/2008 2:56:36 PM EDT

Originally Posted By Evil_ATF:
Take out a rider on the HO policy. Make sure that the items are spelled out specifically and then there should be no deductable.

I took out a rider on my HO policy without itemizing the firearms/equipment. A month ago I was involved in an accident with a drunk driver who was doing about 60-70. My TA31 ACOG that was in the trunk was toasted. Fiber optic cable trashed, reticle appears to be off, etc.

I have a $1,000 deductable that applies, since the item wasn't specifically noted in the policy.

So if I bothered to make a claim I'd get a check for $14 on my $1,014 optic.

Take out the rider and make sure there is no deductable.

My teammate's rifle went through the windshield (broke loose from the interior roof rack) and into my vehicle (he was behind me).

Fucker rents and has a no deductable policy. His shattered Eotech and replacement M4 were all covered 100%. Lucky bastard.


I'll give you 10 bucks for the broken acog shipped
Link Posted: 11/2/2008 2:57:36 PM EDT
I have my coverage through Collectinsure.com, they actually underwrite through LLoyds of London now.
I hear they are pretty respectable.

It all depends on how much you want to insure. I'd say if you're over $10,000 that I'd get coverage other than a homeowners rider.
Link Posted: 11/22/2008 7:57:56 AM EDT
Originally Posted By Rick_NE:
I have my coverage through Collectinsure.com, they actually underwrite through LLoyds of London now.
I hear they are pretty respectable.

It all depends on how much you want to insure. I'd say if you're over $10,000 that I'd get coverage other than a homeowners rider.


Do they cover accessories and ammo as well?
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