Messages
1,482
Reactions
6,056
I have been looking at different firearm and equipment (magazines/ammo/optics/etc) insurance and wanted to ask the group what they use and why. I would like to find a company that blankets (I know it will be more expensive) the amount over everything and does not require serial numbers. If it had some FA/equipment coverage as well as liability (on the range, on a trip, at home, in a shooting defensive or accidental [God forbid]) coverage, that would be great.

Thoughts? Thanks guys and gals!
 
I checked into this, it was crazy expensive through my home owners. I found a place in PA that would give me $75,000 worth of umbrella coverage for firearms and accessories for about $500 a year.

Here is what they cover

Policy Limit of Insurance at Scheduled Premise(s) and blanket coverage in each bank or safe depository
$75,000
Premises Burglary and Theft Sublimit
$75,000
Away from Scheduled Premises and Personal Travel Sublimit domestic (US & Canada) and worldwide
$60,000
Collectible Exhibition
$75,000
Class 1 – Signature Required Shipment Sublimit (Registered Mail, Express Mail, FedEx, and other carriers except UPS)
$25,000
Class 2 – Signature Required Shipment Sublimit (USPS Insured, Certified and Signature Confirmation Mail, and UPS)
$10,000
Class 3 – No Signature Required Shipment Sublimit (USPS First Class, Priority Mail, Air Mail, Global Priority Mail, Parcel Post, Bound Printed Matter, Media Mail (Book Rate))
$200
Unscheduled Collectibles
$5,000


It’s called Collectables Insurance Services

www.collectinsure.com
 
Messages
3,251
Reactions
9,317
When I looked into this several years ago, I found NRA and Collect Insure to be the cheapest. A whole lot cheaper than doing a rider with my existing home owners insurance or a personal articles policy with more traditional home owners insurance providers, (AAA, State Farm, etc.). I have also heard Eastern Insurance has really good rates but I did not check with them as I wasn't aware of them at the time.

I ended up going with Collect Insure. They were a bit less than NRA at the time. They've been great and easy to deal with although I have never had to file a claim with them (knock on wood). They do not require serial numbers...at least for most items. One of these companies wanted serial numbers if the gun was $5K or above...can't quite remember which one it was as I don't own any single item that expensive. I wish.

Do remember that you will want to have copies of your serial numbers, DROS paperwork, photos, etc., anyway, in the event that something actually does get stolen. And you'll want to update your policy at least once a year if you continue to buy more guns like most people.

Also note that you get $2K worth of insurance just for being a NRA member. And most home owners policies usually cover a couple grand in firearms insurance so you'll want to check your policy and factor that into how much insurance you need to buy.

Lastly I would encourage you to sit down and list/price out all the various accessories you own. It really surprised me when I started adding up mags, holsters, optics, etc. That stuff adds up quickly.

Note that I have not heard of any company that combines equipment insurance with liability insurance. But if you find one, please let us know.
 
Messages
1,482
Reactions
6,056
I checked into this, it was crazy expensive through my home owners. I found a place in PA that would give me $75,000 worth of umbrella coverage for firearms and accessories for about $500 a year.

Here is what they cover

Policy Limit of Insurance at Scheduled Premise(s) and blanket coverage in each bank or safe depository
$75,000
Premises Burglary and Theft Sublimit
$75,000
Away from Scheduled Premises and Personal Travel Sublimit domestic (US & Canada) and worldwide
$60,000
Collectible Exhibition
$75,000
Class 1 – Signature Required Shipment Sublimit (Registered Mail, Express Mail, FedEx, and other carriers except UPS)
$25,000
Class 2 – Signature Required Shipment Sublimit (USPS Insured, Certified and Signature Confirmation Mail, and UPS)
$10,000
Class 3 – No Signature Required Shipment Sublimit (USPS First Class, Priority Mail, Air Mail, Global Priority Mail, Parcel Post, Bound Printed Matter, Media Mail (Book Rate))
$200
Unscheduled Collectibles
$5,000


It’s called Collectables Insurance Services

www.collectinsure.com

I applied and it regrets to inform me i do not qualify.....ugh....and so it begins again
 
Messages
3,020
Reactions
6,647
I am not a believer in insurance in general.......without extenuating circumstances........You are always betting against yourself. I had a friend that owned a large insurance company that did a lot of work in Hollywood around the studios and that sort of thing. He started selling door to door when he was very young and eventually owned an entire hundred million dollar company that he started from scratch. He NEVER owned any insurance that wasn’t mandated by some law. When you would get a few drinks in him.....he would always explain it was a bad bet. Like betting against the house in a casino. If it was called anything other than insurance, the companies would be sharing space with Bernie Maidhof. He would tell you to get a good safe and rely on your home insurance to cover in the case of a fire. That insurance is required by your mortgage company anyway, adding your most valueable assets to it isn’t that expensive.
 
I am not a believer in insurance in general.......without extenuating circumstances........You are always betting against yourself. I had a friend that owned a large insurance company that did a lot of work in Hollywood around the studios and that sort of thing. He started selling door to door when he was very young and eventually owned an entire hundred million dollar company that he started from scratch. He NEVER owned any insurance that wasn’t mandated by some law. When you would get a few drinks in him.....he would always explain it was a bad bet. Like betting against the house in a casino. If it was called anything other than insurance, the companies would be sharing space with Bernie Maidhof. He would tell you to get a good safe and rely on your home insurance to cover in the case of a fire. That insurance is required by your mortgage company anyway, adding your most valueable assets to it isn’t that expensive.

It’s all about what you have. I had a $1.4 million dollar insurance claim 2 years ago. After fighting for a year and paying an attorney $45,000 I settled for $550,000.

Not great, It set me back a decade and destroyed my business but without insurance I would not have been able to start over anyplace other than ground zero.

I am a volunteer firefighter, I see how often folks lives are destroyed. It’s always a really sad thing to hear someone say “I didn’t have insurance”

Is it a suckers bet? I am sure the insurance company always wins and most folks never come out ahead.

I have to have insurance, I own a business, have employees running around in company vehicles and enough assets that if something happened I would have a big lawsuit target on my forehead.
 

Koda

Messages
7,867
Reactions
13,514
I found a place in PA that would give me $75,000 worth of umbrella coverage for firearms and accessories for about $500 a year.

What kind of collection are we talking about here? (not yours specifically...)

because all I could think about when I read your cost was 1 brand new quality pistol a year for the rest of my life. I could understand a huge collection, or a smaller but expensive one.

now back to that 1 a year thought... that will replace anything lost. For an average person I tend to agree with Argonaut. Even the insurance required by law, is a scam.
 
Messages
3,020
Reactions
6,647
The numbers don’t work......I own several businesses and have more employees than I care to admit. There are required policies that we have no choice with.......for every house you see burned, there are thousands that don’t . How do you think insurance companies are the largest investors in real estate and equities on the planet. I have made a lot of money from insurance companies in my marine salvage business and even had a claim or two of my own. But you are betting against the house as a consumer. It is designed that way. The most common insurance protects lenders not the owners that pay for it.
 
Last Edited:

Koda

Messages
7,867
Reactions
13,514
What is the risk of theft? My guess is probably only once in a lifetime odds to have all firearms stolen at once from your home? If you took that $500/year and set aside, in 10 years you would have $5000 to replace any lost firearms.
 
What is the risk of theft? My guess is probably only once in a lifetime odds to have all firearms stolen at once from your home? If you took that $500/year and set aside, in 10 years you would have $5000 to replace any lost firearms.

I have already lost all my firearms to theft once, About a $90,000 loss. I didn't have insurance. They caught the guy and he did 5 years of a 15 year sentence. I got a 10/22 and a couple other meaningless things back and a few hundred dollars in restitution before the guy went back to prison.
 

Upcoming Events

Oregon Arms Collectors August 2-Day Show
Hillsboro, OR
Wes Knodel Gun Shows
Chehalis, WA
Rimfire Challenge
Canby, OR

Latest Resource Reviews

Back Top