Recommend insurance company for firearm collection?

[Starslinger]

I live in an apartment. I spoke to the company that provides my Renter's insurance, and they don't cover firearms, so I'm looking for another company that might insure my firearm collection. None of my firearms are antiques or collector's items. However, including optics and accessories, I do have about $15,000 worth of gun stuff. I don't see any recent threads on this topic. Do y'all have insurance for your firearms? Thanks for any information on this.

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[L84Cabo]

The two companies that I see come up the most on this question are Eastern Insurance and Collect Insure. Note that Collect Insure does insure modern firearms. They don't have to be antiques or what people traditionally think of as collector's pieces. They'll insure your Glock 19 just like they'll insure Great Grandad's shotgun.

I have no actual experience with Eastern so you'll want to do your research on them. I've just heard they're very good for firearms.

I've been with Collect Insure for the last 20+ years and the've been great to deal with. Note, however, that I have never had to file a claim (knock on wood). But they've alway been responsive, timely, and helpful whenever I've needed anything. They also do not require serial numbers and such (at least on guns below $5K). And their pricing is SIGNIFICANTLY less than what traditional home owners insurance companies charge. WAY LESS!


Some other comments...

No matter who you go with, make sure you have a complete list of your firearms and accessories, along with serial numbers, make, models, color, copies of receipts, photos, copies of the DROS if you still have it, etc. You don't need this stuff for the policy but you will need it if you ever have to file a claim. And after going through the exercise of pulling all this together years ago, I could not imagine trying to do it after a loss, and/or particularly if the house burned down. It would be a nightmare.

You then want to get in the habit of maintaining this information as you acquire more toys...or sell them...etc. It's easy and quick to do whenever you get something new, once you have it established. I used Excel.

You also want to make sure you have digital copies of all this information in the cloud somewhere, so that you can access it if, god forbid, your house does burn down. Or you could keep a copy in a safe deposit box but I find it infinitely easier to maintain a cloud copy than a paper copy in a bank somewhere. YMMV.

Remember that like any insurance, you want make sure you review it at least once a year...and increase or decrease the coverage depending on what you've bought or sold.

Also, if you've never sat down and documented all your accessories, it is quite eye opening...at least it was for me. I knew I had, "a bunch of stuff." But I didn't realize just how much stuff, and how much money was tied up in the accessories...holsters, magazines, cases, bags, optics, eye pro, ear pro, lock boxes, lights, tools, upgrades, shipping expenses to have the upgrades done, ammo, parts, belts, cleaning stuff, steel targets, slings, etc.

As a side note, have you actually read your renters policy? It would surprise me if your standard policy did not provide some level coverage for firearms. Most homeowners and renters policies usually cover around $2K worth of firearms. It's worth a quick read as it might save you from buying more coverage than you need. I use my home owners policy as a buffer. Meaning I have a policy with Collect Insure for the total value of everything I have, and the $2K on my home owners policy is there in case I've forgotten something...or in case I buy something throughout the year, I don't have to get the policy updated immediately. YMMV.

Good luck!

 

[gmerkt]

Eastern Insurance is now called Arthur Gallagher Risk Management Services. Due to spotty communications issues in the past with Eastern, I wouldn't recommend them but recently they changed ownership/management/underwriters and I've seen much improvement. Their policy has a deductible of $100. But they don't require an itemized list of your holdings. They have a basic coverage up to $45K,, which costs me $150 per year. Which is adequate for my modest holdings. I have no claim experience with them.

Formerly, I had a personal articles rider on my homeowner's ins. policy from State Farm. Which was way more costly than my current policy. Also, State Farm wanted details on everything, which was a nuisance when dealing with acquisitions and disposals. I had to sever by relationship with State Farm after many decades due to other issues, but that act has saved me money on the gun policy.

 

[Northplatte_1]

Do you use a local agent? Or is it mainly an on line situation?

 

[solv3nt]

I use state farm.

 

[clanhanson]

AAA. Firearms are covered under the personal property value you select, there's no limit (and no special rider required like most other insurers). Plus they'll repay full value, not depreciated value.

If you have home insurance through "the big three", chances are it covers ~$2500... total. Call your agent and make sure you know the details of your policy, exclusions, and requirements (some require photos of every firearm and photos of each serial, some refuse to cover semiauto firearms, etc.).

 

[aasbra]

I've had a policy with Collectibles Insurance Services (CollectInsure.com) for about 10 years. I have not needed to file a claim, so no real experience, but they have been responsive when I've reached out with questions and the premium was more reasonable and they required less documentation under the policy terms than my Homeowners carrier (State Farm).

 

[flydipper]

gunandtrophy.com


This is who I use, my policy is for $150,000 coverage. $140k blanket and $10k for one specific piece. No serial numbers required (until the time of a claim) except for the single item. It covers me if I'm traveling to and from a show. $440 per year!

 

[L84Cabo]

Do you use a local agent? Or is it mainly an on line situation?

Collect Insure is on line/over the phone.

A side note about AAA...They're an interesting animal. You would think it is one big company but it really isn't. For example So Cal AAA is different from Nor Cal AAA and their insurance policies are different. I'm assuming Oregon AAA is different from the Californias and Washington AAA. I would have loved to have insured my guns with So Cal AAA as I already have multiple policies with them. But it wasn't even an option years ago when I looked into it. YMMV.

 

[gmerkt]

Do you use a local agent? Or is it mainly an on line situation?

Email and USPS.

 

[CountryGent]

We added a rider to our homeowners insurance with State Farm as the coverage wasn't enough. A quick google search indicates their renters insurance covers firearms, so maybe that will help @Starslinger. (Though I would be remiss in not adding that a recent claim incident we had with them was pretty much abysmal, so we are looking at other companies now.)

 

[Starslinger]

You guys are correct my renter's insurance does cover $2000 worth of firearms, with no option to increase that amount, but I need $15000 coverage. Thanks for all the suggestions so far guys I will look into those options.

 

[Certaindeaf]

Smith & Wesson.

 

[solv3nt]

I have state farm and use the individual items for insurance. It doesn't have a deductible and it should also work with renters insurance.

 

[po18guy]

Eastern Insurance is now called Arthur Gallagher Risk Management Services. Due to spotty communications issues in the past with Eastern, I wouldn't recommend them but recently they changed ownership/management/underwriters and I've seen much improvement. Their policy has a deductible of $100. But they don't require an itemized list of your holdings. They have a basic coverage up to $45K,, which costs me $150 per year. Which is adequate for my modest holdings. I have no claim experience with them.

Formerly, I had a personal articles rider on my homeowner's ins. policy from State Farm. Which was way more costly than my current policy. Also, State Farm wanted details on everything, which was a nuisance when dealing with acquisitions and disposals. I had to sever by relationship with State Farm after many decades due to other issues, but that act has saved me money on the gun policy.

You guys are correct my renter's insurance does cover $2000 worth of firearms, with no option to increase that amount, but I need $15000 coverage. Thanks for all the suggestions so far guys I will look into those options.

Go to the NRA (No longer Wayne's world) website. They have much experience with insurance companies and may have some recommendations.

 

[clanhanson]

We added a rider to our homeowners insurance with State Farm as the coverage wasn't enough. A quick google search indicates their renters insurance covers firearms, so maybe that will help @Starslinger. (Though I would be remiss in not adding that a recent claim incident we had with them was pretty much abysmal, so we are looking at other companies now.)

Does SF vary in coverage options by region? My local SF agent stated that they'll cover $2400 in firearms and firearm accessories but will increase coverage with a rider at additional cost.

 

[solv3nt]

Does SF vary in coverage options by region? My local SF agent stated that they'll cover $2400 in firearms and firearm accessories but will increase coverage with a rider at additional cost.

I use individual riders. Photographs and serials are required.

 

[clanhanson]

I use individual riders. Photographs and serials are required.

Cool, good to know they'll offer additional coverage.