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Posted: 5/25/2007 10:33:13 AM EDT
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Has anyone tried to put ammo on their home owners insurance policy? Just wondering if this is ok to do? USAA should be ok with this, yes, no? What about putting guns on insurance policy? |
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I tried looking for additional insurance, but your homeowners usually only covers $1000.00 - $3000.00 for firearms and jewelry. I called my insurance company and asked what the max they could bump it up to which was $8000.00, so I took that. Unfortunately companys out there that advertise insurance on firearms are only for C&Rs. Nothing is going to get covered by stuff you use all the time. EDIT: Oh they offered to itemize coverage. It would cost me $2 per $100 of coverage. (A NRA sub. co. advertises $1.66/$100). They told me for what I was looking at would cost me more than I am paying for the house.  But if you did it that way, if you dropped your firearm and broke it, it would be covered. |
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the sublimit is only for theft. This is in Pa, all states are different. so.. 1.) If it and or your guns burn up in a fire, depending on your homeowners policy It would be covered for replacement cost the only limit being what is on your dec. page for personal property. 2.)however, they do put a sublimit on for theft for things that walk off. jewelry guns etc. He did right by buying the additional amount for theft. (cheap) 3.) the only other thing to do is schedule each and every, firearm & firearm related equipment (ammo). This gets expensive. There are no exclusions in pa or any other state that I know of that would keep them from paying for guns. Could be company specific though. Unfortunately, I do this for a living. |
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You ever hear of Brad Paisley's "The Cigar Song"? If not look up the lyrics.... it's funny. and it reminds me of the ammo-insurance idea. I don't have much of anything in the way of firearm insurance. I just made sure to get a really good safe with the longest fire protection/heat level, that I could find. |
| My insurance company covers up to $5000 of personal items. I told them that wouldn't cover personal items without even includeing guns. They told me they could insure the firearms at appraised value but they required serial numbers and proof of insured value. I figured screw it. Didn't ever ask about ammo but with the current price of ammo if it was insured you would need to go double it now. |
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Most Homeowners policies are what they call a standard ISO form. Most companies write what they call an HO-3 form policy. The latest edition of that policy covers for theft of firearms and related equipment up to 2,500.00. However, this limit is only for theft. Any other type of covered loss would not be subject to this limit. Most companies allow you to increase that limit by endorsement at an extra cost of course. I might specifically schedule some individual firearms that were collectibles of a high value. Otherwise it would probably be cost prohibitive. I wouldn't mention how much ammo you might have or it's value when increasing the limits. Don't forget that to most of the Sheeple anything over 100 rounds is an armory. You might jepordize your policy coverage because they might look at large amounts of ammo as a liability hazard that they don't want to cover. Please note that all of the above information is subject to changes by your own individual company. So your best bet is to check with them to see what your coverages are and what they could be increased to. By the way, the basic cash limit is 200.00 for all types of losses. That also can be increased. Hope this helps Brett |
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USAA has a "Personal Articles Floater" or "Valuable Personal Property" rider that lets you insure your firearms. Don't know the upper limit. Rates are (I think) 1.2/100. You set the value. Problem is, even though it is "replacement" value, you have to update it. I checked mine a few months ago and YIKES, one of my M11s was still listed at $750. I know on some jewelry they have to have an appraisal. Don't know about firearms. Give them a call on it. They haven't given me any flack over mine. Dave |
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BSTOCK demostrates the need to check with your individual insurance company regarding your limits. The basics that I quoted for the HO3 form policy can be modified by the insurance company. Furthermore, some companies write their own form of policy which mirrors the HO3 in many respects but can have differences in it. There are also mandatory state endorsements which can effect changes. So the lesson here is to read your policy and contact your company with any questions. Brett |
+1 million. Insurance is a f*cking SCAM. EDIT: Although some whores around here would need a safe the size of a bank vault for the stashes they've got ... 
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Insurance is a f*cking SCAM. Just think of life insurance for instance,if most of us declared the stashes of ammo we got the owning of a gun would be the only insurance when they cancel you.With life insurance it is even better (For Them) as when you buy a policy the company hopes you live to be a hundred ten years old and your relatives hope you drop dead the day after you buy the policy |
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I will keep my firearms and ammo stash quiet. Sample letter. Dear Insurance Co. Over the years I have acquired a collection of 75 firearms and 300,000 rounds of various ammunition. I estimate the value to be at over $200,000. I would like a rider on my policy to cover my losses in case of fire or theft. Thank you, J Q Public Mr Public. Your insurance cancellation notice will be personally delivered by two gentlemen from Homeland Security. If you have any questions regarding this matter they will be happy to answer them. They also have a few standard questions regarding you insurance request. Thank you, Your Insurance Co. |
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Heh. I have a personal property rider with State Farm for... ahem, a fair number of firearms. They've never batted an eye. I've never actually considered insuring the ammo.... I may have to look into that. Probably have to insure the reloading equipment, too. I have the same type of rider on my camera equipment. My first serious camera was stolen overseas and they sent me a check with very little hassle. About 2 years later, my D70 took a dive onto concrete. Repair costs were just under $500. The check from State Farm cleared before I got the bill from Nikon. Sam |
That's the dilemma. We have a lot of money tied up in this hobby, but some don't see our side of things in their comfy little worldview. I can easily picture the soccer mom at my insurance agency picking up the phone & dialing ATF as soon as she hears my inquiry. Just after she evacuates her bowels of course. |
Bank vault....Now you're talking! 
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I had the same problem three years ago when my insurance company switched to the HO-3 form. I have since bought insurance through the NRA-endorsed program. They seem to offer good coverage and have been easy to work with. No serial numbers are required and, unless scheduling particular guns, you don't even need to list what you own. Having said that, I haven't needed to file a claim, so do not know how they behave when you need them. They do not cover ammo, extra mags, etc. -- only accessories attached in some way to the gun. |
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YOU GUYS ARENT LISTENING. what sks 45 & I are saying is that guns & equipment are covered (except for theft) under the personal property limit on an Ho-3. You dont have to list them. There is a sublimit for theft (varies by company) you can buy more for very little$$ once again you don't have to list anything YOU ALSO can scedule all you stuff for a specific amount. This is where it can get expensive & also where you need to list aech item. This is where a gunsafe comes in. SO, if you have a STANDARD H0-3 POLICY & your guns burn up in a fire they are covered at replacement cost or actual cash value, whichever option you purchased. If they are stolen & you have not purchased extra ins. you will get $2000 or whatever the companies sublimit is. Insurance is only percieved as a scam by those to simple to understand it or are wishing to take advantage of it. It serves a purpose. Life as we know it would grind to a halt w/out it. may not be a bad thing .... |
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The HO-3 policy only covers things that happen in the home, if I'm not mistaken. My personal property rider covers ANYTHING that happens to any of the listed firearms. Also, I'm not sure what the coverage limit for my collection would be, but my rider covers in excess of $20,000. Sam |
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nope, personal property covers your stuff anywhere as long as it is not permanently stored off premises. How often would you go off premises w/ your whole collection though? The $20,000 rider may be a good idea depending on the price. I am content knowing that w/ my HO 3 1.) all my stuff is covered at replacement cost. (guns bullets accesories) all under personal property. ANYWHERE 2.) I have $8000 theft coverage (bought extra) I do sometimes have $8000 worth of guns out @ my house ANYWHERE 3.) I bough a safe as it was cheaper than sheduling my guns. Doubtful that can be stolen. Most if not all Hp policies can work this way. |
USAA doesn't require a listing, but they have a limit for what they will reimburse you for theft of firearms. You can get an extension, but it's not much. The NRA has policies available to it's members to cover gun theft that will cover more than USAA will. |
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