Firearm Collection Insurance - Page 2

Boogershooter · June 9, 2016, 12:13 AM

If you have a couple pistols, a couple rifles, and a couple of shotguns you probably don't need insurance. I guess that truely depends on your income, if you can afford to replace them or not. If you earn $50,000 a year and have $100,000 worth of firearms you may want to pay the 300 to 400 a month for the no worry policy. Some places you can't get flood insurance on your home but you can on your firearms. If you inherited a collection worth $500,000 or more you may not can afford the insurance. One thing is for sure, you can't afford not to insure a substantial collection. If you have a good agent they will work with you on your policy.

A no worry policy covers flood, fire, theft, and almost anything you can think of. If they are all in safes your insurance is cheaper. If you have an alarm system it is cheaper. If you live in a flood zone, you are going to pay if they even let you have it. If you live in a high crime area you are going to pay. There are many many ways a good agent can help you. There are many ways a smart agent can do you wrong. I did alot of research and talked to alot of agents from different companies. Average cost of anything you insure other than home and vehicles is $4 for every $1000 insured.

45_auto · June 9, 2016, 07:27 AM

Quote:

Premiums seem to run between $400-$500. After a couple of years, that would go a long way to me buying a better safe.

What kind of "safe" are you buying that $1,000 goes a long way towards the cost?

Most "gun safes" don't even meet minimum RSC (Residential Security Container) requirements.

Some info on safes vs "gun safes" with ratings and specs here:

http://gunsafereviewsguy.com/article...afes-are-safes

johnwilliamson062 · June 10, 2016, 05:09 PM

Quote:

They know you can always lawyer up, so the insurance company will make sure to offer enough so that you don't go legal on them, but it's been my experience that they will screw you every chance they get within limits.

Insurance companies are rated by multiple organizations for customer satisfaction. If you are doing less research to insure your $100,000+ home than when you buy a $750 1911 I REALLY can't feel bad for you if you end up with a crappy company. And, no, the financial rating does not mean a thing as far as customer satisfaction.

My firearms receive pretty good coverage similar to other personal property items and I pay $0 additional a year for their coverage.
I only know of one company that doesn't have specified limits on firearms. They aren't the cheapest though. They are much cheaper than adding a rider or additional policy for $500 a year.

Boogershooter · June 11, 2016, 08:40 AM

John my wife and I did some very extensive research and even had some help doing so. We never came across any company that gives coverage for free. Some companies did allow more than others under the normal home owners policy for firearms. My grandfather had a substantial collection, my father also had an extensive collection. I inherited both. No company insures that for free. I'm just going to assume I have misunderstood your post.

June 9, 2016, 12:13 AM	#26
Boogershooter Senior Member Join Date: December 9, 2014 Posts: 645	If you have a couple pistols, a couple rifles, and a couple of shotguns you probably don't need insurance. I guess that truely depends on your income, if you can afford to replace them or not. If you earn $50,000 a year and have $100,000 worth of firearms you may want to pay the 300 to 400 a month for the no worry policy. Some places you can't get flood insurance on your home but you can on your firearms. If you inherited a collection worth $500,000 or more you may not can afford the insurance. One thing is for sure, you can't afford not to insure a substantial collection. If you have a good agent they will work with you on your policy. A no worry policy covers flood, fire, theft, and almost anything you can think of. If they are all in safes your insurance is cheaper. If you have an alarm system it is cheaper. If you live in a flood zone, you are going to pay if they even let you have it. If you live in a high crime area you are going to pay. There are many many ways a good agent can help you. There are many ways a smart agent can do you wrong. I did alot of research and talked to alot of agents from different companies. Average cost of anything you insure other than home and vehicles is $4 for every $1000 insured.

June 11, 2016, 08:40 AM	#29
Boogershooter Senior Member Join Date: December 9, 2014 Posts: 645	John my wife and I did some very extensive research and even had some help doing so. We never came across any company that gives coverage for free. Some companies did allow more than others under the normal home owners policy for firearms. My grandfather had a substantial collection, my father also had an extensive collection. I inherited both. No company insures that for free. I'm just going to assume I have misunderstood your post.