Posted: 3/28/2011 1:38:54 PM EDT
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Decided to check my homeowners policy for firearm coverage.
It is a little low.Asked about adding more coverage and was told I need to document my firearms with serial numbers and send the info in.Is this normal?Almost seems like registering them to me. Anybody else do a rider on their policy?Did you have to provide serial numbers? If you didn't what company are you with? Was surprised about this.You don't have to register your $2k plasma TV or computer. Am I being paranoid?Would like to hear some opinions on this. |
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Quoted:
Decided to check my homeowners policy for firearm coverage. It is a little low.Asked about adding more coverage and was told I need to document my firearms with serial numbers and send the info in.Is this normal?Almost seems like registering them to me. Anybody else do a rider on their policy?Did you have to provide serial numbers? If you didn't what company are you with? Was surprised about this.You don't have to register your $2k plasma TV or computer. Am I being paranoid?Would like to hear some opinions on this. Good thread. I am also very interested in insuring my firearms also. I'm with Allstate. I haven't checked yet. What insurance company did you ask or insured through? |
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Check what your base coverage amount is for firearms. You will only need a personal articles firearm rider if the amount of your declared firearms exceeds the basic coverage. NRA offers firearms coverage too. I'd get a quote.
If you have a safe and it is fire resistant and you lock it, you may not really need insurance coverage. |
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I looked into this on my policy about 2 years ago. Firearms are covered up to $1500. To add a rider, if I recall it's an extra $7 bucks a $100 for everything past $2000. Adding a safe doesn't lower the premium also.
Regarding documentation. Again if I recall it was just make/model. May be a good idea to photograph them like everything else in the home and store documents in safe or off site. I believe NRA also upped the value for members' firearms also. LittleLamb |
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A few things I learned through state farm. I thought about the NRA, but if I have a problem I want to be able to deal with a local person.
on a standard home owner policy there is max coverage number for multiple guns as well as individual guns––something like $5k total/$2.5k for one gun(might seem like a lot but look at your AR with all of it's accessories) the personal properties rider isn't that expensive. I don't remember the exact numbers. I provide them with a list of guns, s/n's and a brief description. I back this up with digital photos. I was assured that there is some privacy protection on the files, but... a fire resistant safe is not good enough. it might be highly rated and have a good duration, but I've been told that different items in there will react differently. the metal parts of the gun might be fine, but all of the plastic is melted, the wood is scorched and the electrics are fried––-at which point you are going to need the insurance anyway. that is the reason you are advised not to store important documents in the open in a fire resistant safe. the one question neither state farm or NRA has answered to my satisfaction is custom or limited run guns. you have a gun that is out of production or part of a limited run––-blue book is X, actual market value is XXX because you can only find one seller. how do you establish the propper value and how will the insurance reimburse you? one other thing––-regarding tvs, stereos, computers, etc. check your policy limits. if you have high end equipment that exceed your limits, you will have to jump through the same hoops as guns. Imagine my friend's surprise when his claim on his martin logan speakers was denied becasue they exceeded his limits. my personal properties rider also covers my wife's jewellery and we have to provide them with updated appraisals, etc. i'd rather be over insured and pay a little bit extra and be covered. most people in this country are under insured and have no idea. |
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I checked pricing and it isn't that bad.Was more like $20 per $1k coverage.The gun info is
what threw me.I realize I would have to prove their value but found it odd they need all info up front.Figured I could inventory, get appraisal's and buy x amount of insurance and when something ever happened I could then give info and appraisal to prove value. |