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10-22-2024, 09:45 PM
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Advice On Homeowners Firearm Insurance
I don't have anything specific. I would assume it is not much if it exists at all. So did you add it to your policy or is there a separate agency I should use. Thanks!
Last edited by AC Man; 10-22-2024 at 09:46 PM.
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10-22-2024, 10:16 PM
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Quote:
Originally Posted by AC Man
I don't have anything specific. I would assume it is not much if it exists at all. So did you add it to your policy or is there a separate agency I should use. Thanks!
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There’s a separate “Rider” that I have based on my perceived value of the guns I own.
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10-22-2024, 10:59 PM
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I asked my agent about that but I don't own a million guns, so he said keep records of what I have in case something bad happens. That was two years ago, so maybe I should ask again. My old record albums aren't worth more than a buck or two apiece, if that, to a used record shop.
That's a good question. I'll need to hit the phone tomorrow.
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10-22-2024, 11:01 PM
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Circa 1985 my State Farm homeowner's policy included $1000 of gun coverage with an added rider for $2500, for a small fee. The big shock came when I wanted more coverage! Anything over $2500 was at straight risk and 5% of inflation adjusted each! That's $50 a year for every $1000. My collection of guns at one point was $17,000 ($850 a year) and increased every year by the percentage of inflation! + the value of any additional guns. Then they got pushy about storage and security. At the time $850 bought a very nice gun safe, but buying one didn't lower the cost of coverage! It was ridiculous!
The NRA sells some and advertises for better priced companies.
Ivan
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10-23-2024, 02:44 AM
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10-23-2024, 01:15 PM
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Like others here, I have a rider.
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10-23-2024, 03:10 PM
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Quote:
Originally Posted by boykinlp
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Same here. Very affordable.
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10-23-2024, 05:37 PM
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Most HO policies will cover some level of gun loss, but the amount might cover one gun. Definitely get an additional rider if that is a concern for you.
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10-23-2024, 06:31 PM
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Thanks for the recommendations, I'll look into it.
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10-23-2024, 06:53 PM
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Pictures and serial numbers of firearms are good to have.
Print them and store them in the safe.
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10-23-2024, 07:24 PM
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Quote:
Originally Posted by Ivan the Butcher
Circa 1985 my State Farm homeowner's policy included $1000 of gun coverage with an added rider for $2500, for a small fee. The big shock came when I wanted more coverage! Anything over $2500 was at straight risk and 5% of inflation adjusted each! That's $50 a year for every $1000. My collection of guns at one point was $17,000 ($850 a year) and increased every year by the percentage of inflation! + the value of any additional guns. Then they got pushy about storage and security. At the time $850 bought a very nice gun safe, but buying one didn't lower the cost of coverage! It was ridiculous!
The NRA sells some and advertises for better priced companies.
Ivan
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I've had insurance with State Farm for a number of years, just looked up my current coverage & premiums
Firearms $20,000
Jewelry 36,000
Yearly premium for the 2 combined $399.00
I don't understand the huge difference.
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10-23-2024, 10:08 PM
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My State Farm jomeowners policy only covers about $2500 for firearms...i have coverage from Eastern Insurance for about $100 per $20k of coverage. It was less in PA, but for some reason Florida is higher. Only single firearms with values over $10k each need to be identified by serial number. Others are covered based on my records. They will also cover ammo and reloading equipment.
Robert
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10-23-2024, 10:32 PM
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Quote:
Originally Posted by Imissedagain
Pictures and serial numbers of firearms are good to have.
Print them and store them in the safe.
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Very true. I have pics, serial numbers and purchase price on a ledger with description. Just need to make sure it is covered in writing.
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