NRA Insurance

Shooter2675 · June 20, 2017, 05:18 PM

I was thinking of getting the NRA's ArmsCare Plus insurance policy. I have some questions about how to value my guns. I don't have any firearm over $2500 (if I did, I'd have to individually list the pieces of that gun and every gun over $2500). However, how should I choose the value for each gun? For instance, I paid about $250 for my Nagant revolver, but to get a new one (including shipping and transfer fee) it would easily cost $400 or $450. Should I could my Nagant revolver as $450? Also, say I bought a Henry 30-30 for $700 including tax, but now it depreciated to say $450. Should I still count the Henry as $700?

Thank you,

John

KyJim · June 20, 2017, 06:44 PM

You should normally insure goods at replacement value.

kilimanjaro · June 21, 2017, 10:34 PM

Insure at replacement value. You lost a $450 Nagant revolver, not a $250 Nagant revolver, as one example. The intent of insurance is to make your loss whole, not just return your $250.

Ship and transfer are legitimate replacement costs, add them to your current value. Don't forget sales tax if you pay that, that's additional replacement expense.

Can't say about depreciated pieces, I would value your replacement cost at your original cost, to make you whole. The company will either pay your $700 or quibble about it, let them do the work, don't negotiate against yourself.

drunder40 · June 22, 2017, 10:49 AM

umm I'm pretty sure these days insurance companies replace at a depreciated value of the item not the replacement value..

They want receipts.. so if you paid 250 bucks 4 years ago you will get a depreciated value of that..

If there are insurance companies that you know of that replace 100% of the "Current" value then please let us know because that would be awesome..

Doc Holliday 1950 · June 23, 2017, 08:31 PM

Replacement always. Insurers will not pay retail generally, such as Jewelry.
Only Ins. Co that pays full retail plus is Chubb. Ck.it out.

ShootistPRS · June 24, 2017, 01:39 PM

The NRA "ArmsCare Plus" covers your firearms to the value you set. With any guns valued over $2500 you have to list the firearm and accessories but not the serial number. There is a $100 deductible. (unless you have additional coverage)

June 20, 2017, 05:18 PM	#1
Shooter2675 Senior Member Join Date: August 17, 2013 Location: Western Pennsylvania Posts: 382	NRA Insurance I was thinking of getting the NRA's ArmsCare Plus insurance policy. I have some questions about how to value my guns. I don't have any firearm over $2500 (if I did, I'd have to individually list the pieces of that gun and every gun over $2500). However, how should I choose the value for each gun? For instance, I paid about $250 for my Nagant revolver, but to get a new one (including shipping and transfer fee) it would easily cost $400 or $450. Should I could my Nagant revolver as $450? Also, say I bought a Henry 30-30 for $700 including tax, but now it depreciated to say $450. Should I still count the Henry as $700? Thank you, John __________________ "Better to remain silent and be thought a fool than to speak and to remove all doubt." - Abraham Lincoln

June 22, 2017, 10:49 AM	#4
drunder40 Member Join Date: June 1, 2017 Location: The Free state of NH-Southeast Posts: 20	umm I'm pretty sure these days insurance companies replace at a depreciated value of the item not the replacement value.. They want receipts.. so if you paid 250 bucks 4 years ago you will get a depreciated value of that.. If there are insurance companies that you know of that replace 100% of the "Current" value then please let us know because that would be awesome.. __________________ Retired Navy RM/ITC(SW) 1982-2002 USS Edward McDonnell (FF-1043), USS Pegasus (PHM1) USS Carl Vinson (CVN-70) Colt Mustang XSP FE, Sig P938/238 , Sig P320C RX Last edited by drunder40; June 22, 2017 at 11:29 AM.

June 23, 2017, 08:31 PM	#5
Doc Holliday 1950 Senior Member Join Date: June 16, 2014 Location: Bout as south as it gets Posts: 1,238	Replacement always. Insurers will not pay retail generally, such as Jewelry. Only Ins. Co that pays full retail plus is Chubb. Ck.it out. __________________ Shoot well and be Accurate, Doc

June 20, 2017, 06:44 PM	#2
KyJim Senior Member Join Date: July 26, 2005 Location: The Bluegrass Posts: 9,142	You should normally insure goods at replacement value.

June 21, 2017, 10:34 PM	#3
kilimanjaro Senior Member Join Date: November 23, 2009 Posts: 3,963	Insure at replacement value. You lost a $450 Nagant revolver, not a $250 Nagant revolver, as one example. The intent of insurance is to make your loss whole, not just return your $250. Ship and transfer are legitimate replacement costs, add them to your current value. Don't forget sales tax if you pay that, that's additional replacement expense. Can't say about depreciated pieces, I would value your replacement cost at your original cost, to make you whole. The company will either pay your $700 or quibble about it, let them do the work, don't negotiate against yourself.

June 24, 2017, 01:39 PM	#6
ShootistPRS Senior Member Join Date: January 3, 2017 Posts: 1,583	The NRA "ArmsCare Plus" covers your firearms to the value you set. With any guns valued over $2500 you have to list the firearm and accessories but not the serial number. There is a $100 deductible. (unless you have additional coverage)