Renters Insurance only covers up to 500

[ussoldier1984]

I just found out that my renters insurance only covers up to 500 in guns. If I wanted to cover all my weapons, which amounts to a lot more than 500 I would have to take out a separate independent policy on them. Does anyone else have that issue or does your renters/home owners insurance cover all your weapons within your policy?

 

[Wyldman]

Almost all policies require a seperate rider for guns above a certain set amount, which varies from company to company. Nothing new, insurance companies don't like paying out on guns.

Crush, kill, mangle, maim, destroy.

 

[karlac]

Down through the years I've found that a separate policy, or rider, removes most of the fine print exclusions/gotcha's in relying on a homeowners/renters policy to insure any valuable items like guns.

Personally, have USAA's "Valuable Personal Property" insurance that specifically covers firearms, with a "replacement cost" provision, NOT "actual cash value"; the latter being subject to depreciation.

What looks good on paper/price is not always what plays out when an item is lost or stolen.

 

[Byrd666]

My renters insurance is through USAA, and like karlac, I have that secondary personal property policy with replacement cost. It is fairly inexpensive and covers a whole lot more than just $500.

 

[ussoldier1984]

I will have to work up a quote with my insurance company to see how much replacement cost policy would be. Everything in my home is replacement cost not cash value I just didn't know that I needed a separate policy for firearms.

 

[robertc1024]

Yep. I had to get a rider with "scheduled" items - guns with descriptions/pics/SN's, jewelry etc. NRA membership has a minimal amount ($2500 IIRC) that you can add onto.

 

[CZPistol]

Pretty sure there's an older thread around here somewhere that has some good info in it related to this topic...if you can find it.

 

[Southpaw]

I will have to work up a quote with my insurance company to see how much replacement cost policy would be. Everything in my home is replacement cost not cash value I just didn't know that I needed a separate policy for firearms.

The NRA also offers insurance as well as some other companies who offer firearm specific policies out there.

 

[Southpaw]

Pretty sure there's an older thread around here somewhere that has some good info in it related to this topic...if you can find it.

Here is what I found..... might help you OP.

https://www.texasguntalk.com/forums/general-firearms-ammo/68916-insuring-firearms-collection.html

https://www.texasguntalk.com/forums/general-firearms-ammo/53022-insurance-guns.html

https://www.texasguntalk.com/forums/general-firearms-ammo/67495-guns-insurance.html

 

[ussoldier1984]

I will look into it later, I am getting ready to run some errands. I will also have to look into NRA I am already a member and check out their quotes.

 

[rushthezeppelin]

I'm yet another USAA customer that has my firearms fully covered. If you haven't I would recommend switching to them just for the customer service nevertheless their excellent insurance products.

 

[majormadmax]

Good idea!

 

[Recoil45]

It depends on the company. My renters insurance had no limits on firearms or jewelry up to the policy limit. My homeowners insurance has a $500 limit on both.

The NRA has some insurance policies available also.

 

[Rebel]

Sometimes firearm-related items (ammo, accessories, gear, parts) will fall under the firearm category as well.

Some companies you just pay a fixed amount for the dollar value you want. Other companies want specific make/model/serial info.

 

[TreyG-20]

Just curious for those that have a policy that requires (makes, models and numbers) if it has to be updated everytime you buy or sell a new firearm. Seems like a pita if you are like me and trade frequently.

 

[orbitup]

Subbed

 

[Southpaw]

Just curious for those that have a policy that requires (makes, models and numbers) if it has to be updated everytime you buy or sell a new firearm. Seems like a pita if you are like me and trade frequently.

The one's I seen when shopping around didn't require an itemized list unless a particular item was over a set amount. For my policy it was $2500.

 

[majormadmax]

The one's I seen when shopping around didn't require an itemized list unless a particular item was over a set amount. For my policy it was $2500.

As it is with USAA ($2500 is their per-item limit).

 

[TreyG-20]

The one's I seen when shopping around didn't require an itemized list unless a particular item was over a set amount. For my policy it was $2500.

I need to have talk with USAA and makes some changes.

 

[Tejano Scott]

My renters insurance has $75k firearms coverage that I purchased with it. That total policy cost me like $400 for the year. Cheap peace of mind. I went over the policy in depth with my agent to make sure there weren't any gotchas in addition to an extensive paper trail which clearly lists my intent for obtaining coverage and what I expected it to cover.