insuring your gun collection

[Smith & Hammer]

was wondering what others are doing to insure they're collections. proof of ownership?, best insurance companies to use?, 2A friendly? requirements?

Bryce

 

[robertrwalsh]

Mine is tied into my regular home-owners insurance thru Nationwide. They also do my car insurance and other insurance needs for not quite 50 years.

 

[arjay]

You should be able to get a rider on your homeowners if they’re more valuable than what the policy covers

 

[murphydog]

Written and (preferably) photographic documentation are the first step. Easy to do with a word processing program or spreadsheet and a digital camera.

You should look at several companies and compare rates, they vary widely.

As noted above, some homeowner's policies will cover collectible items. I believe the NRA has a firearms-specific program and there are several insurance firms in the field as well. Collectibles Insurance is a good one.

 

[rockquarry]

Eastern Insurance. If you have more than a few guns, their rates are likely cheaper than getting a rider on your home policy. I've used Collectibles but switched to Eastern years ago.

 

[SVT28]

Problem with homeowners policies is that they likely won’t cover the full value of your collection, nor does it cover ammo/accessories like mags etc. Many companies also require serial numbers and other details you may not want to disclose.

I use Collectibles Insurance Services after speaking with and getting quotes from a handful of reputable 2nd Amendment insurance companies. I was very satisfied with the cost of the premium for the amount of coverage I needed. I also did not need to provide specifics like serial numbers or pictures of what I wanted insured. Other benefits of this policy is it covers guns being sent in the mail or in your car/RV, as well as fire/water damage and theft. Check em out!

SVT28

 

[3S16]

+1 for Eastern.

 

[EPP]

Problem with homeowners policies is that they likely won’t cover the full value of your collection, nor does it cover ammo/accessories like mags etc. Many companies also require serial numbers and other details you may not want to disclose.

I use Collectibles Insurance Services after speaking with and getting quotes from a handful of reputable 2nd Amendment insurance companies. I was very satisfied with the cost of the premium for the amount of coverage I needed. I also did not need to provide specifics like serial numbers or pictures of what I wanted insured. Other benefits of this policy is it covers guns being sent in the mail or in your car/RV, as well as fire/water damage and theft. Check em out!

SVT28

Without pictures and serial number, how could you ever prove a loss if something was to happen? Or, what their condition or value was when the loss occurred?

 

[SVT28]

Without pictures and serial number, how could you ever prove a loss if something was to happen? Or, what their condition or value was when the loss occurred?

Sorry I should have clarified. They did not ask for serials or pictures to open a policy with a blanket $ of value, however in the event a claim needs to be made they do require serial(s) and pictures to verify condition. (Which I do have documented on two hard drives and my excel spreadsheet)

SVT28

 

[rockquarry]

Without pictures and serial number, how could you ever prove a loss if something was to happen? Or, what their condition or value was when the loss occurred?

It's best to call these places for specifics. They will answer all questions.

 

[first-model]

+1 for Eastern.

The only caveat with Eastern is that any single gun worth $50,000 or more will need to have a written appraisal to be underwritten.

Mike

 

[austintexas]

insurance

In the late 70s when I accumulated a closet full of firearms, I was discussing insurance with a gun shop owner. He told me the cheapest insurance was a large fireproof safe, lag bolted to the foundation. Insurance wanted $1 @ $100 value per year. In the long run the safe was cheaper.
SWCA 892

 

[Jeppo]

In the late 70s when I accumulated a closet full of firearms, I was discussing insurance with a gun shop owner. He told me the cheapest insurance was a large fireproof safe, lag bolted to the foundation. Insurance wanted $1 @ $100 value per year. In the long run the safe was cheaper.
SWCA 892

Eastern is a fraction of that quote you received. They also cover ammo, reloading supplies, etc. And they offer a discount to SWCA members.

 

[luvsmiths]

Without pictures and serial number, how could you ever prove a loss if something was to happen? Or, what their condition or value was when the loss occurred?

You can't. Just how insurance companies like it!

 

[kbm6893]

I use Lockton Insurance. I have plenty of insurance on my house with an umbrella policy on top of that, but the home insurance only covered like 10 grand. I spend $115 a year for $50,000 worth of protection for guns and accessories. No serial numbers needed unless one gun is with more than like $10,000 or so. Like most insurance, you don’t ever need it, until the one time you do. My wife thought I was stupid to get the electrical line policy and I’ve used it twice in 15 years and didn’t cost me a penny. That’s worth $5 a month to me.

 

[THE PILGRIM]

Have gone back and forth between USAA and Leavenworth - Armed Forces Insurance.
Right now I’m with those Kansas folks.

 

[raljr1]

I have Eastern . Looked into State Farm because they have all my other stuff. Cost over double and they wanted serial numbers of everything

Robert