Posted: 7/1/2012 5:43:01 AM EDT
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I want to insure my gun collection (those that didn't get lost in the boating accident last week). Homeowners insurance caps out at $2500 which is pitiful (almost all homeowners policies I have looked at cap at $2500-5000)
I know a good bit of people buy their insurance through Lockton (NRA) to insure their guns and accessories. Has anyone ever made a claim to them, or know anyone that has? Is it a legitimate place, or will they try to swindle you out of a repayment? Their site says that they provide replacement value which is nice. But before I pull the trigger, I would prefer to hear from someone first as to the companies validity. Thanks! |
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The police report states that there was no visual signs of forced entry but "owner" stated he always keeps his truck locked. I hit the unlock button to my door before I got to my truck so I cant be 100% either way. There is no way of proving it was locked or unlocked. Its going to be interesting to see how they review it.
Ill keep the HTF updated with the process if yall want. |
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The NRA policy is overpriced.
http://www.ar15.com/mobile/topic.html?b=8&f=35&t=486895 |
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Quoted:
08' GMC Sierra http://www.jimmijammer.com/Product,%20JJ.htm One of our own HTF members had his truck broken into the same way. Take a look right under the the handle. |
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I took a look at Historic Firearms as well. While they are cheaper per $1,000 of firearms coverage, they don't cover other things like knives, hunting accessories, etc. The NRA insurance Lockton did cover knife collections, accessories, and hunting supplies. The historic firearms website is pretty lame and doens't offer much in the way of warm and fuzzies on replacement value and how they assess yoru loss. The Lockton website answered all my questions and pays actual replacement value and not actual cash value.
I guess I need to do some more research. |
| I wonder if it depends upon how your insurance agent writes the policy. I have State Farm, and my rider for my firearms is written as "Jewelery and sporting goods." It covers my wife's wedding ring, our pistols, and a couple of AR's. It is definitely over $2500. |
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After a ton of research, I went with CollectInsure.com . Not only was their price 40% better than the NRA policy, they cover guns, knives, AND AMMO stashes.. That is something no other policy would cover. If you have a collection of ammo for your guns, it can add up, especially for HD ammo.
They have a blanket policy and give you discounts if you have a safe and/or monitored alarm system. If you have a vault, you get a discount as well. I applied today around 11:00 AM, and had a call back at 1:00 PM with an approval for my policy. You don't need receipts for everything, just pictures, video, and/or a written inventory to go along with it. It is covered for theft, fire, and damage (other than normal wear and tear). NO SERIAL NUMBERS needed. Full theft coverage maxes out at $50,000 for a home, and $100,000 for storage areas. Just for giggles, I found out that in Georgia for a $50,000 policy with either a safe or home alarm, the premium is only $306 per year. Full replacement coverage. |
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Update:
Sent my claim in and got a letter back last week. Took about 2-3 weeks. They told me they are assuming my truck was unlocked and were not covering the claim. The police report did not say it was unlocked. There was also a statement in the letter that they might also have other reasons not to cover it even if I provide more information. Seems like a marketing scam to make memberships seem more appealing. Did not cover this lifetime member when his firearm was stolen. Thanks NRA, good luck with donations in the future. |
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That is pretty much what I read online when researching insurance options. Most people (70-80%) were either not paid or were paid much less than expected due to the NRA stating that they were at fault for something.
I went with Collectible Insurance and they cover guns, knives, ammo, etc. They also cover it when you ship the gun in for repairs, and when traveling with it. It couldn't have gone smoother for me in signing up and they don't need original receipts, just good pictures showing serial numbers and the condition of the guns, or other items. I am sorry they won't cover you on your gun. Will your car insurance cover you, or is the deductible too high to make it worth it? Quoted:
Update: Sent my claim in and got a letter back last week. Took about 2-3 weeks. They told me they are assuming my truck was unlocked and were not covering the claim. The police report did not say it was unlocked. There was also a statement in the letter that they might also have other reasons not to cover it even if I provide more information. Seems like a marketing scam to make memberships seem more appealing. Did not cover this lifetime member when his firearm was stolen. Thanks NRA, good luck with donations in the future. |