gun insurance

canewbie · November 8, 2011, 12:14 AM

My homeowners provides little coverage so I have been looking for a specialized carrier. One company I found, American Collectors Insurance, http://www.americancollectors.com/, seems pretty good. Started out 35 years ago insuring old vettes. Now into lots of collectables including guns. They told me they have 200,00 customers. Rates seem good. Anybody do business with them or care to recommend a company?

madcratebuilder · November 8, 2011, 07:34 AM

Everyone's living situation is different but i believe the best protection for the money spent is a 24hr alarm system. If you are 30 minutes from police response obviously this is not the answer. If you are wanting fire ins then a rider on your home owners ins or a stand alone policy.

Scorch · November 8, 2011, 12:53 PM

What I learned as a licensed insurance agent:
* Homeowners' insurance or renters' insurance does not cover jewelry, firearms, cash, or bullion. If you want coverage for those items, you must add a rider to your policy.
* In order to issue a rider for the items, an insurer will require serial numbers, and appraisals for fair market value of the items. If they are "special", custom, one-of-a-kind items, or have some other feature that significantly increases their value (e.g. a documented revolver owned by Elvis Presley), a letter from a professional appraiser will typically be required.
* Getting a rider to your existing howe-owners' or renters' policy will be cheaper than getting insurance elsewhere. Talk to your insurance agent.

FeltonFitz · November 9, 2011, 09:23 AM

Link to prior thread regarding another gun insurance company - Collectibles Insurance Services.

http://thefiringline.com/forums/showthread.php?t=378212

Don H · November 9, 2011, 02:07 PM

Quote:

Originally Posted by Scorch

Homeowners' insurance or renters' insurance does not cover jewelry, firearms, cash, or bullion. If you want coverage for those items, you must add a rider to your policy.

That's not true of all companies. My homeowners covers jewelry and firearms up to a specified amount. My policy has that specific language in it.

EDITED TO ADD: No riders involved.

32 Magnum · November 9, 2011, 02:31 PM

STATE FARM covered up to $2500 when I had about $6500 worth of handguns stolen back in 2003. NRA covered (under regular membership) $1000. Both required police report with all pertinent data about each firearm. NRA adjuster told me about a company they endorse that will provide "good" rates to NRA members.

Don P · November 10, 2011, 08:47 AM

What we did is take pictures of all our household items. This way insurance can't argue about personal items as to what you did or didn't own. Rider is the way to go and make sure you get coverage for replacement value.

canewbie · November 11, 2011, 03:20 PM

I called back to American and asked for a copy of their policy as a member suggested. They then told me that only collectables are insurable and by that they mean if you shoot it, it is not a collectable. On to the next one.

therealdeal · November 12, 2011, 04:30 AM

farm bureau has some

NRA too

Bill DeShivs · November 12, 2011, 08:52 AM

www.collectinsure.com

Rifleman1776 · November 12, 2011, 09:01 AM

Last time I checked, firearms insurance was 10% of value each year.
Oh, goody-goody, that way I can rent my own belongings from the insurance company.

November 8, 2011, 12:14 AM	#1
canewbie Junior Member Join Date: December 26, 2009 Posts: 11	gun insurance My homeowners provides little coverage so I have been looking for a specialized carrier. One company I found, American Collectors Insurance, http://www.americancollectors.com/, seems pretty good. Started out 35 years ago insuring old vettes. Now into lots of collectables including guns. They told me they have 200,00 customers. Rates seem good. Anybody do business with them or care to recommend a company?

November 8, 2011, 12:53 PM	#3
Scorch Senior Member Join Date: February 13, 2006 Location: Washington state Posts: 15,248	What I learned as a licensed insurance agent: * Homeowners' insurance or renters' insurance does not cover jewelry, firearms, cash, or bullion. If you want coverage for those items, you must add a rider to your policy. * In order to issue a rider for the items, an insurer will require serial numbers, and appraisals for fair market value of the items. If they are "special", custom, one-of-a-kind items, or have some other feature that significantly increases their value (e.g. a documented revolver owned by Elvis Presley), a letter from a professional appraiser will typically be required. * Getting a rider to your existing howe-owners' or renters' policy will be cheaper than getting insurance elsewhere. Talk to your insurance agent. __________________ Never try to educate someone who resists knowledge at all costs. But what do I know? Summit Arms Services

November 10, 2011, 08:47 AM	#7
Don P Senior Member Join Date: December 17, 2005 Location: Swamp dweller Posts: 6,187	What we did is take pictures of all our household items. This way insurance can't argue about personal items as to what you did or didn't own. Rider is the way to go and make sure you get coverage for replacement value. __________________ *NRA Life Member, NRA Chief Range Safety Officer, NRA Certified Pistol Instructor,, USPSA & Steel Challange NROI Range Officer, ICORE Range Officer, ,MAG 40 Graduate* *As you are, I once was, As I am, You will be.*

November 12, 2011, 04:30 AM	#9
therealdeal Senior Member Join Date: September 15, 2010 Posts: 627	farm bureau has some NRA too __________________ NRA Distinguished Life Member "Abraham Lincoln freed all men, but Sam Colt made them all equal." (post Civil War slogan)

November 12, 2011, 08:52 AM	#10
Bill DeShivs Senior Member Join Date: April 7, 2006 Posts: 10,985	www.collectinsure.com __________________ Bill DeShivs, Master Cutler www.billdeshivs.com

November 8, 2011, 07:34 AM	#2
madcratebuilder Senior Member Join Date: November 2, 2007 Location: Northern Orygun Posts: 4,923	Everyone's living situation is different but i believe the best protection for the money spent is a 24hr alarm system. If you are 30 minutes from police response obviously this is not the answer. If you are wanting fire ins then a rider on your home owners ins or a stand alone policy.

November 9, 2011, 09:23 AM	#4
FeltonFitz Junior Member Join Date: July 9, 2008 Posts: 5	Link to prior thread regarding another gun insurance company - Collectibles Insurance Services. http://thefiringline.com/forums/showthread.php?t=378212

November 9, 2011, 02:31 PM	#6
32 Magnum Member In Memoriam Join Date: January 17, 2009 Location: Eastern PA Posts: 364	STATE FARM covered up to $2500 when I had about $6500 worth of handguns stolen back in 2003. NRA covered (under regular membership) $1000. Both required police report with all pertinent data about each firearm. NRA adjuster told me about a company they endorse that will provide "good" rates to NRA members.

November 11, 2011, 03:20 PM	#8
canewbie Junior Member Join Date: December 26, 2009 Posts: 11	I called back to American and asked for a copy of their policy as a member suggested. They then told me that only collectables are insurable and by that they mean if you shoot it, it is not a collectable. On to the next one.

November 12, 2011, 09:01 AM	#11
Rifleman1776 Senior Member Join Date: April 25, 2010 Location: Arkansas Posts: 3,309	Last time I checked, firearms insurance was 10% of value each year. Oh, goody-goody, that way I can rent my own belongings from the insurance company.