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Mello2u · July 13, 2009, 10:50 AM

You need to be aware that Sixer has brought up an important distinction in homeowners insurance policies. Theft is a different "peril" than fire. The coverage is under different sections of the contract and has different limits. Generally speaking (each insurance contract may differ), the coverage limit for theft of firearms is lower than that limit for personal property caused by a fire loss.

So if your concern is loss by fire, check your policy's limit on personal property. If the value of your firearms is not significantly greater than that limit you are good for that type of loss. Theft is a different consideration.

http://www.locktonrisk.com/nrains/ar...msplusapp.html
The above is a link to the NRA endorsed insurance program ArmsCare Plus. It charges 0.0174 of the amount to be insured as an annual premium. For example to insure $10,000 worth of firearms the premium would be $166.60. $20,000 would be $340.60. This policy provides for Replacement Cost Coverage.

While Collector's Insurance seems less expensive, I could not determine whether the coverage provided for Replacement Cost or something less like Actual Cash Value.

July 13, 2009, 10:50 AM	#7
Mello2u Senior Member Join Date: February 21, 2009 Location: Georgia Posts: 1,424	You need to be aware that Sixer has brought up an important distinction in homeowners insurance policies. Theft is a different "peril" than fire. The coverage is under different sections of the contract and has different limits. Generally speaking (each insurance contract may differ), the coverage limit for theft of firearms is lower than that limit for personal property caused by a fire loss. So if your concern is loss by fire, check your policy's limit on personal property. If the value of your firearms is not significantly greater than that limit you are good for that type of loss. Theft is a different consideration. http://www.locktonrisk.com/nrains/ar...msplusapp.html The above is a link to the NRA endorsed insurance program ArmsCare Plus. It charges 0.0174 of the amount to be insured as an annual premium. For example to insure $10,000 worth of firearms the premium would be $166.60. $20,000 would be $340.60. This policy provides for Replacement Cost Coverage. While Collector's Insurance seems less expensive, I could not determine whether the coverage provided for Replacement Cost or something less like Actual Cash Value. __________________ NRA Life Member - Orange Gunsite Member - NRA Certified Pistol Instructor "When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." Frederic Bastiat Last edited by Mello2u; July 13, 2009 at 11:42 AM.