Good resource for firearm appraisal

DuneHopper · Jan 9, 2016

I have been thinking about what if, what it the firearms disappeared how would one claim insurance?
Other then items that may have been purchased new what is the regular process people use to make sure they get a good replacement value thru insurance if needed.
Yep I do realize I could take them down to a dealer and get an appraisal which is very unpractical.
So what do people do as a good resource and or process for firearm appraisals in case of insurance claims.
I checked older threads but didn't see much to answer my question.

Thanks

jbett98 · Jan 9, 2016

Most homeowner insurance policies place a cap on firearms.
Last I heard it was generally around $3,500.00.
You can bump that up, but it's not cheap.
A simple video of the guns with a running commentary explaining price paid, make/model, condition and serial #'s should suffice.

mjbskwim · Jan 10, 2016

I would guess it would only be a problem with some antiques and specialty guns,one of a kind
But you can get letters from the manufacturer for most of those,then have appraisals on the older ones.
Heck you can find the value of most modern guns fairly easy.Look at the replacement cost at stores
Or ask us "experts"

on here

DuneHopper · Jan 10, 2016

mjbskwim said:
I would guess it would only be a problem with some antiques and specialty guns,one of a kind
But you can get letters from the manufacturer for most of those,then have appraisals on the older ones.
Heck you can find the value of most modern guns fairly easy.Look at the replacement cost at stores Or ask us "experts" on here

I think that make sense I hope I never need the insurance, my concern is let say SKS's as an example they are one of the fastest ones going up in prices especially on the west coast, yet I can find them in say Alabama for 250 all day long but here Armslist and alike show them up to 400 and up at times. I know some I can't replace thats a given but unlike many items firearm don't depreciate and are one of the best investments one ( in my opinion ) can do even ammo parts etc do not seem to ever go down in price. Just being so many are covered by insurance in their homeowners I wonder what the norm is that makes a claim flawless.

jbett98 · Jan 10, 2016

Insurance adjusters are not know to be generous when evaluating claims.
You better have your ducks in a row and plenty of documentation when submitting a claim.

DieselScout · Jan 10, 2016

See if you can do an agreed value policy on them. Basically you tell you insurance agent you want to insure X dollars worth of firearms. Agent then says it will cost Y amount of dollars per year or per month. I know other have used that to insure firearms, my parents have something similar through Haggerty for their Scout Dad restored.

EVILZ · Jan 10, 2016

About a year and a half ago I finished my house and had to switch from construction insurance to home owners insurance. My agent went down the list of questions to get the value of assets and we came to firearms. She asked if I had more than 2500 in fire arms..... I said yes. It eventually made it up to 5k( I don't think these guys know how much firearms cost) I said I would need more than 5k in coverage, I was told that I would need to get them appraised and they would need a list of all the serial numbers. They wanted to know if they were in a safe and where the safe was located. I had a little uneasy feeling about giving out this kind of info so I declined to up the coverage any further, not because I didn't understand why they would want to have this kind of info but because I thought it might be easy enough for this info to be acquired. Needless to say I'm a bit nervous to leave town for any length of time. I wish there was a less intimate way of getting insurance for firearms.

DieselScout · Jan 10, 2016

EVILZ said:
About a year and a half ago I finished my house and had to switch from construction insurance to home owners insurance. My agent went down the list of questions to get the value of assets and we came to firearms. She asked if I had more than 2500 in fire arms..... I said yes. It eventually made it up to 5k( I don't think these guys know how much firearms cost) I said I would need more than 5k in coverage, I was told that I would need to get them appraised and they would need a list of all the serial numbers. They wanted to know if they were in a safe and where the safe was located. I had a little uneasy feeling about giving out this kind of info so I declined to up the coverage any further, not because I didn't understand why they would want to have this kind of info but because I thought it might be easy enough for this info to be acquired. Needless to say I'm a bit nervous to leave town for any length of time. I wish there was a less intimate way of getting insurance for firearms.

Have you looked into.what the NRA offers?

EVILZ · Jan 10, 2016

I have not. I wasn't aware that they would cover personal loss. Is it insurance policy you can get through them?

MountainBear · Jan 10, 2016

When I had a retail shop, I provided appraisals on several occasions. Most were for run of the mill guns, but I ran replacement values for some custom made firearms. The insurance adjuster may not understand that the replacement of a custom gun is higher than what the resale value might be.

I have an extra rider on my renters insurance to cover to a certain amount. If I want more than that, I would be required to provide them more information than I am willing to...

Joe13 · Jan 10, 2016

Unless it is an ultra rare item, it shouldn't be hard to get full replacement value as long as you have proof of ownership Iike a video.

A friend lost an antique katana in a break in years ago and his ins company gave him the high side of replacement value.