INSURING A FIREARMS COLLECTION

[OLDVET]

If this topic has been beaten to death before, please accept my apology.
My firearm collection exceeds the amount my home owner's insurance policy will cover. My insurance company [USAA] offers a "stand alone" policy for just the firearms. Last time I inquired, the yearly premium rate was around $700. I am sure there are numerous folks out there that have the same situation. What have you found?
Thanks.

 

[oldag]

Some folks recommend Collectibles Insurance Services. I do not have any experience with them.

Often, HO policies only have a cap on firearm theft, but no cap for other perils firearms losses.

 

[Army 1911]

The NRA has an insurance policy available as well.

 

[ZX9RCAM]

Sub'd...

 

[orbitup]

Sub'd...

tag

 

[Vaquero]

I'm in

 

[outdare]

Tag

 

[rl96ss]

I went with Collectibles Insurance Company as recommended by Southpaw. They cover accessories and ammo as well.

 

[coreymcl]

I checked with Farmers who provides our Home owners policy and our standard personal property coverage includes firearms with no caps. The only exception is the total for the personal property. So it might be worth a call to your insurance agent.

 

[Byrd666]

I have the "standard" NRA policy and after about 3 bazillion gillion phone calls to various insurance agents and companies, I added a 'free standing' firearms policy to my auto and renter's policies through USAA. I found, even with what was then my homeowners policy, that if I even mentioned the word gun (guns, firearms, etc., et al) the tone of the conversation changed dramatically, or was outright ended. And of the few I did have a civil conversation with, the cost(s) were so screwy that it just didn't make sense for me to insure anything with them. I suppose, that until I either win the lottery, (hard to do if you rarely ever play) get that mega-multi-million dollar check in the mail from that long, lost, uncle I never knew existed, (just as highly unlikely as winning the lotto) or find, copyright, and patent the cure to Everything, I'll just keep adding a bit more to my USAA policy as I add more to my safe.

 

[oldag]

I checked with Farmers who provides our Home owners policy and our standard personal property coverage includes firearms with no caps. The only exception is the total for the personal property. So it might be worth a call to your insurance agent.

Definitely want to check. My Farmers policy has a cap on theft.

 

[duckknot]

I'm in

Heh!


Subscribed for valuable info!

 

[Davetex]

Germania does not have a cap on firearms. The only limit is the amount of personal property coverage. Plus their HQ is just down the road in Brenham TX.

 

[ed308]

I have a separate policy via ArmsCare which is who the NRA recommends. As I recall, I have $12,000 in coverage at a cost of $130/year. The Collectible policy may be even better since it offers broader coverage compared to the ArmsCare policy. Theft insurance is what I needed since my homeowner's policy limits theft of firearms to $5000.00.

Do you need a separate policy like what ArmsCare or Collectibles offers? Check your policy to determine the coverage. Pay attention to the section covering Special Limits of Liability. You'll likely see clause where firearms are limited to say $1,000 when stolen. Don't worry if they burn up in a fire. You'll likely have the full amount of your personal property limit if that happens.

 

[ed308]

Deleted - duplicate.

 

[ed308]

I checked with Farmers who provides our Home owners policy and our standard personal property coverage includes firearms with no caps. The only exception is the total for the personal property. So it might be worth a call to your insurance agent.

Don't bet your life on that. Check the section dealing with Special Limits of Liability. You'll likely see a cap for theft of firearms just like with jewelry, silverware, money and etc. Don't count on your Agent to know that too. Confirm for yourself. Firearms are covered by the full policy limit if damaged by some other covered peril such as fire.

 

[shortround]

Thanks for the post! My insurance company got my business way back in '92 because they actively sought out gun owners. They had a slogan that went something like this: "We like guns, no matter how many you have. All are fully covered in the base policy."

After that company suffered huge losses in Hurricane Katrina and the Bastrop fires, they changed their tune.

The company no longer insures any firearms -- they require you list all your guns and pay for a rider.

I too am looking for new coverage.

Be well.

 

[ed308]

The limit on theft of firearms is standard in the industry. Most people don't need coverage for firearms like we do since they probably don't have as many firearms. At one time, North Carolina's standard policies had firearm limits of $10,000. Not sure if that is the case today. Probably not. If insurance companies increased the limit, we'd all be paying more for the policies.

Look at Collectiables. A friend of mine looked at their policy and purchased it. I think he paid slightly less for his policy compared to what I paid for the same amount of coverage.

 

[coreymcl]

Definitely want to check. My Farmers policy has a cap on theft.

I will be calling on Monday to request they provide details in writing. Great thread I wouldn't have thought about this if I hadn't seen this thread.

 

[Das Jared]

tag. I have USAA. IIRC 20k in coverage