This is probably a stupid question but I am curious. Say one has a RR Colt M16 and has a catastrophic kaboom. I realize if the lower is destroyed it cannot just be replaced but is there any type of insurance I could get so I would not be out $30-$40k?

I’ve seen one KB in person and had one myself years ago. Just paranoid about the issue.

Thanks in advance.

I'd like to have insurance covering government confiscation for my NFA items.

I'm not even kidding.

I am not aware of any insurance company that will covering damage incurred due to firing the machinegun.

Unfortunately your best bet is to only use high quality parts, high quality ammunition, and personally I would suggest keeping 300BLK.....far......far......away from your 5.56 machineguns.

I donated to both Georgia Republican Senators last election but the press made damn sure to amplify both of their "insider" stock sales before covid hit and thus loose the election thus making Senate 50/50.
Meanwhile $100,000,000 Pelosi and "Mr Big" Biden get a full pass.
Turns my stomach.
I sold about a third of my collection of stuff I dont shoot just in case.
About break even on my investment.
That's the only insurance I know of.

Wear and tear, no. But I've heard dropping and/or catastrophic failure is covered.

I use https://www.easterninsurance.com/insurance-quotes/personal-insurance/historic-firearms

I use eastern as well.  I had also heard that failure during firing was covered as well and had a conversation with Jack Richardson prior to his death about what was/wasn't covered.

Its been a few years but the net of my conversation was that damaged due to the actual failure of the gun during the firing sequence was generally not going to be covered.

He pointed to this section of my policy exclusions:

Section B: Exclusions

Part 3:

"We will not pay for loss caused by or resulting from any of the following.....

Subpart B:

Rust, corrosion, decay, deterioration, hidden or latent defect, inherent vice, or any quality or fault in the property that causes it to damage or destroy itself.

The part in RED is what becomes applicable to coverage during firing as under normal conditions the firearm should be able to be fired without failure and if it does fail during firing its generally because of a quality or fault issue with the gun.

I guess you could maybe make a claim of coverage if say your shooting buddy clearly loaded a 300blk round into a 5.56 gun and it blew it up as in that case the damage was not due to a quality or fault of the gun itself  but other precursor actions that led to the gun self destructing.

I don't know if your policy differs from mine but you could always email Laura at Historic (who took over from Jack) and inquire if any type of damage incurred as a result of actual firing is covered for your policy.

As you note, "fault in the property" might not include ammunition. That line is fairly ambiguous.

Agreed its pretty ambiguous and the only scenario I could think of where you would "maybe" be covered would be if you accidentally loaded the wrong ammunition into the gun and blew it up.

This is more of an owner or user error induced damaged scenario, more akin to leaving the gun leaning up against the bumper of your buddies truck and you or him backing over it.  

In this very specific incompatible ammo scenario neither the gun nor the ammunition (both covered property items) caused the failure due to a quality or fault of the property as both were fine until incorrectly matched together resulting in damage.

If the bolt or lugs on a machinegun give way due to age or defect and/or the gun fails due to the correct ammunition you shot which was overcharged/undercharged, etc. those scenarios are clearly a fault or quality issue with the insured "property".

Whatever the legal mumbo jumbo this all actually means and if you could sue them over a specific exclusion scenario I don't know.... however the net of my conversation with Jack at Historic at the time was don't expect them to willingly pay up if the gun blows up when you are shooting it.

It would be fairly easy to add a very specific exclusion for that. If i had coverage with them, and my gun was lost due to an ammo issue i would expect them to pay if there is no other wording addressing that in the policy.