Do you insure your firearms?

[korntera]

I added up my collection for the start of the year just to be more organized and my policy has a 5K firearm limit and I have about 13K worth of firearms and plan to add more plus accessories.
Upsides, fire, theft, whatever I get money for newer better guns. i have state farm and they are great payers in cases of loss

Downsides, they ask for model and serial of all firearms with prices and description of all accessories.

I am a firm beleiver in insurance but serial numbers for their records rather than me keeping them until the loss when they are in fireproof safes... Not so sure about that, so what ya say?

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[Cougfan2]

I don't see how they would NOT require the serial numbers. They sure as heck wouldn't insure your car without a VIN. If you are an NRA member you get a limited amount of insurance thru your membership and you can purchase additional coverage from the NRA. You also might want to check out some companies that specialize in firearms insurance like the company linked below. For full disclosure's sake I am not covered by the company linked below, but heard about them on another forum.

<broken link removed>

You can probably get a rider for additional coverage from State Farm as well.

 

[Cougfan2]

I am going to eat some of my own words here. I just looked up the NRA Armscare insurance info and they do NOT require serial numbers. That may be an option for you. Just google NRA Firearms Insurance and you will find the info there.

 

[USMC1345]

Last time I had firearms insured, it was part of my homeowner's insurance. They didn't require serial numbers, and said all guns were covered under my policy as long as none of them were valued at over $1k individually. That was, and is, sufficient for my small collection.

 

[Mason3379]

I was told I could take out a special policy on all of my firearms. The only thing was, they wanted pictures of the firearms and serial numbers of ALL of my guns. I did not feel that was any of their business. I would not mind sending pics but all of the serial numbers I felt was unnecessary. Not that any are stolen, I just feel that info is private. Looks like the NRA firearms insurance is what I need to look into. Beings Most of my firearms are worth OVER 1k each I decided to buy a high end LIBERTY safe to ensure my firearms.

Dan

 

[Swedish K]

OK - to be fair if I was an insurance company I would want a list of what I was insuring as well. after all - if you only tell me that I'm insuring your $30k worth of guns and you have a fire or theft am I supposed to take your word that you had 5 HK PSGs, 12 BARs, and hitlers p38, churchill's sterling, patton's six guns and the gun that killed sadat?

On the flip side you can look into an umbrella policy if you have both cars and home insurance through them. I think a $1million rider that covers both home and auto was in the neighborhood of $300 per year

 

[Mason3379]

OK - to be fair if I was an insurance company I would want a list of what I was insuring as well. after all - if you only tell me that I'm insuring your $30k worth of guns and you have a fire or theft am I supposed to take your word that you had 5 HK PSGs, 12 BARs, and hitlers p38, churchill's sterling, patton's six guns and the gun that killed sadat?

On the flip side you can look into an umbrella policy if you have both cars and home insurance through them. I think a $1million rider that covers both home and auto was in the neighborhood of $300 per year

Like I said, I would be willing to provide the pics of the firearms.

 

[nubus]

$13k huh, where did you say you live? J/K!!!
I have State Farm as well and you can keep $5k standard off the books and just do the additional you want to cover via ser # and description.
I just went through the same thing, wondering do I really plan on keeping any of them long term enough to bother.
I roll stuff over so frequently I'd constantly be giving my agent new ser #'s almost weekly.
So I'm gonna pick out the ones I know I'm gonna keep and are papered to me for them to have on file.
I still get the $5k on my homeowners anyway which should cover my revolving collection. ($2500 max per gun.)
And I have the umbrella though State Farm, highly recommend it, but does not give additional firearm coverage.

 

[Swedish K]

My agent when I lived in CA understood that many of his clients had items that they didn't know had to be registered with the state ( CA assault weapon ban) and hinted that they were "tools" and tools are covered - so that AR might be a chainsaw and the FAL might be a tabletop milling machine, etc. Also the accessories aren't guns. about 15 years ago I had simply added a $30k rider policy for "misc" firearms - at the time I had my FFL and at that time they told me I would have to provide pics and Serial #s in the case of a claim but it appears that they have changed the rules. Apparently they have either had too many fraud claims or state / fed regulations have changed.

 

[pokerace]

[QUOTEYou can probably get a rider for additional coverage from State Farm as well. ][/QUOTE]


you can i have one and am thinking about upping the coverage.

 

[korntera]

Yeah at least up to 5k is covered but that's it even with my 1 million dollar umbrella on home auto and motorcycle. I am really tempted to get the insurance but I hate gicving serial number especially since I have NFA items. They told me if someone claims a roles they ask for serial number too so I see their point I just get paranoid.

 

[NK777]

I have State Farm and no additional firearms insurance. I probably won't get anymore insurance either. I am not a big fan of insurance myself. Okay so you pay somebody money to insure something of value that might be stolen or destroyed in what your life time? Tell me how much money you've paid them when your 90? How much was your junk really worth? Did you come out ahead?

Now I do believe in auto, health, and homeowners insurance. Auto because car accidents are highly likely to happen. Health because with out it who could afford to go to the doctor or have surgery, also your health is fragile, anything can and will happen. Homeowners insurance? Well gee walley your home is rather expensive to replace.

 

[korntera]

I have State Farm and no additional firearms insurance. I probably won't get anymore insurance either. I am not a big fan of insurance myself. Okay so you pay somebody money to insure something of value that might be stolen or destroyed in what your life time? Tell me how much money you've paid them when your 90? How much was your junk really worth? Did you come out ahead?

Now I do believe in auto, health, and homeowners insurance. Auto because car accidents are highly likely to happen. Health because with out it who could afford to go to the doctor or have surgery, also your health is fragile, anything can and will happen. Homeowners insurance? Well gee walley your home is rather expensive to replace.

I highly beleive in insurance because I am not rich enough to self insure. If I were to loose all my firearms I would be SOL starting from scratch so is it worth the $100 a year to do this? It is 63 years until I am 90 so that means at 90 I will have only paid HALF of the price of the collection, but If i loose them, any of them ever, i have paid more than the full price of the collection due to inflation and there are some things i just won't be able to get at a deal like that again while insurance(mine anyways) adjusts for inflation. Its a personal preference but when I am $8,000 or more over my homeowner policy and am still buying 3-12 guns a year i think its worthwhile. Just can't figure out if i should send them serial numbers or try and find another insurance company.

 

[I-Shoot]

I have State Farm also, for (was home owners now is) renters insurance, as well as my vehicles. I got the same story from them, that I would need to take out a separate policy for the guns, and submit all the SN, which I both agree is understandable and also simply won't do.

I was notified I think about a year ago, that there was a policy change and my $5,000 worth of firearms coverage was dropped to $2,500 -- and I believe that was total coverage, not per gun. Maybe it had to do with going from being a home owner to a renter, I don't know, but when you get those slips of paper with your bill that say "changes to your policy", in case you don't already, you need to read them.

I too will be looking into the NRA insurance.

 

[nubus]

Talked with my SF agent yesterday and my HO policy is for $5k total $2500 per.

 

[andreys21]

I have the NRA ArmsCare.