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s1xty7

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You may think your home owner's or renter's insurance will cover your firearms and ammunition, but a call to your insurance company will generally show that even if they do carry it, the coverage is relatively modest. With the recent increase in firearm valuations as well as the cost of ammunition, even a few firearms with some stored ammunition will quickly approach or exceed those limits. Last year I went ahead and purchased firearm insurance through a stand alone company called Collectibles Insurance Services. I'm not here to sell you on their services over anyone else's, but have heard favorable reviews. However, the amount of coverage I purchased at the time was based on my rough estimate. I recently took the time to catalog my firearms, including key upgrades, and looked at what the replacement value would be. I also inventoried my ammunition stores and compared that to the current market. If I lost everything today, the dollar value to replace it all would be much higher than it was even a year ago. I encourage everyone to at least figure a rough replacement cost and reach out to your current insurance company. All the better if you perform an inventory and contact a specialized insurer. For what it's worth, the company I chose does not require serial numbers and only needs item descriptions (w/o serial numbers) if individual items exceed $25,000 in value.

Protecting your home and family isn't just about physical defenses and alarms; you need financial protection too.

I'll step down from the soapbox now.
 
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L84Cabo

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+1. If you've never sat down and added up all the optics, holsters, mag pouches, cases, bags, eye/ear pro, upgrades, mags, tac gear, cleaning gear, tools, ammo, etc., it adds up incredibly quick.

And like any other insurance you should sit down at least once a year and take stock of new purchases, sales, etc., and update your policy accordingly.

Collect Insure is great to work with btw, and I hear really good things about Eastern Insurance as well. Most home owners policy cap firearms payout around the $2K mark so make sure you know what your limits are. :)
 








 
Am curious which positive reviews you saw?
I did a quick web search and found these

I realize Yelp is not the most reliable, but there are only 3, all negative from people claiming to be long tome customers who got burned.
 

s1xty7

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Am curious which positive reviews you saw?
I did a quick web search and found these

I realize Yelp is not the most reliable, but there are only 3, all negative from people claiming to be long tome customers who got burned.

That's interesting. In a previous discussion here, as noted by the posting of thread links above, I found several people very fond of them. I also found positive experiences on other sites for comic collecting and the like. From my experience, they haven't hassled me and never once tried to up-sell me. I've spoken with three people there and they were all very factual and everything was exactly as they stated. They were very patient and answered my unending stream of questions in a polite and professional manner. They asked some questions of their own about storage and an alarm system as having those reduces the premium, but they are not a requirement. In all of our conversations, if they stated they would do something or I would hear back from them with my requested policy changes, everything went like clockwork. The Yelp reviews do have my attention and I will do some further research so thanks for the heads up.

My specific point still stands. Over the last year, the value of firearms and ammunition have gone up. If you have a policy, you may want to calculate an updated replacement cost and see about updating your coverage limits. For instance, one of my lever guns acquired in 2018 has tripled in price. Combined with several other key increases and the price of ammunition rising dramatically, my initial coverage would no longer replace my collection. But I'm also the type of person that has life insurance, long term disability, full coverage on my vehicles, etc and I have since my twenties. As the primary bread winner in my household, I like to plan for a variety of possible outcomes and ensure my family's well being through death or disaster. This is just another facet of that plan.
 

The Heretic

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Do they cover tragic boating accidents?:D

Seriously though, does any insurance org cover firearms that you don't want to list? I.E., expensive hard (or even impossible) to replace firearms that I don't want to admit I even own because they are not in any government record of ownership or transfer (not NFA, not illegal {yet})?

How would I go about getting insurance on such firearms that cost $4K-$5K if you can find one for sale at all?
 

s1xty7

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Do they cover tragic boating accidents?:D

Seriously though, does any insurance org cover firearms that you don't want to list? I.E., expensive hard (or even impossible) to replace firearms that I don't want to admit I even own because they are not in any government record of ownership or transfer (not NFA, not illegal {yet})?

How would I go about getting insurance on such firearms that cost $4K-$5K if you can find one for sale at all?

The one I use doesn't require serial numbers and only requires a description if over $25,000 per item. For my own peace of mind, I have a separate place I document serial numbers and plan on taking detailed pictures in case there is ever an issue. No intentions to share those with anyone unless the need arises. From the places I've read about, there are others that also don't require serial numbers but I would refer you to the previous discussions linked above as they likely cover the available options much better.
 
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That's interesting. In a previous discussion here, as noted by the posting of thread links above, I found several people very fond of them. I also found positive experiences on other sites for comic collecting and the like. From my experience, they haven't hassled me and never once tried to up-sell me. I've spoken with three people there and they were all very factual and everything was exactly as they stated.

My specific point still stands.

I certainly don't dispute that having firearms insurance is a good idea, I have it, with a rider attached to my (long time) homeowners policy. But I would point out those neg reviews were from persons making claims, not simply inquiring about or buying new policy, which you'd expect every firm to make an effort to be nice and helpful.
 

ZigZagZeke

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I bought extra coverage for my firearms on my homeowners policy with Amica. It was relatively cheap. We also have a an umbrella liability policy with them. Claims with them have been a breeze. Last big storm they provided emergency housing and damage mitigation, as well as the eventual cleanup and repairs. I had a check in my hands within 48 hours of making the claim.
 

66PonyCar

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I bought extra coverage for my firearms on my homeowners policy with Amica. It was relatively cheap. We also have a an umbrella liability policy with them. Claims with them have been a breeze. Last big storm they provided emergency housing and damage mitigation, as well as the eventual cleanup and repairs. I had a check in my hands within 48 hours of making the claim.
I’m curious about the premium you paid for firearms with Amica. When I switched to Amica a few years ago the agent grilled me about guns. Apparently they were satisfied that I was a responsible gun owner. But I did not get the idea they were gun friendly.
 

ZigZagZeke

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I’m curious about the premium you paid for firearms with Amica. When I switched to Amica a few years ago the agent grilled me about guns. Apparently they were satisfied that I was a responsible gun owner. But I did not get the idea they were gun friendly.
I would have to look up the actual numbers, but I have a couple of >$2K firearms so I asked specifically about that and got extra coverage.
 
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Farmer's was OK with my estimated amount for my collection and photographic equipment added to the homeowner's policy. The agent has a DVD of everything with the serials read aloud, firearms and cameras. Also, added the silverware and jewelry, along with a stroll through the house.

I think a video or photographic record of possessions would be a great help to anyone. I think anything on a claim must be itemized, regardless of what the contents are valued at.
 
Junk insurance. Just buy new guns. A lifetime of paying premiums on stuff like this and you’ll lose.

Mayhaps, however everyone has to consider their own situations to determine if insurance may be worthwhile. Or not.

Some may be just fine with whatever homeowners covers.

Some may want an extra rider.

Some may want a separate collection policy.

Just like any other insurance. None, legal minimum (ie auto), extra, comfortable extra, catastrophic extra.
 

The Heretic

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I certainly don't dispute that having firearms insurance is a good idea, I have it, with a rider attached to my (long time) homeowners policy. But I would point out those neg reviews were from persons making claims, not simply inquiring about or buying new policy, which you'd expect every firm to make an effort to be nice and helpful.

Yes - the rubber hits the road when you make a claim.

There is a saying in the insurance industry (my daughter is a claims adjuster); all insurance companies are the same until you make a claim - then you will know which ones are good and which are evil. This goes for any kind of insurance.

In some ways, this is true of just about any commercial org; most are great as long as they are taking your money, but when something goes wrong, then wham, you find out which orgs are honest and good and which suddenly don't care about you anymore.

Not saying that the org the OP works with is bad, but how they deal with you when taking your $ is only a small part of the equation. I would love to hear from people who have had to make claims - with any insurance org.
 
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