Gun Insurance - best place to get it?

[skm1970]

HI!
This is my first post - so please re-direct me, if needed. :-)
We are in the process of reviewing our home and auto insurance policies.
I'm trying to figure out if we should include our firearms in our house insurance policy...OR....get is separate from somewhere else.
Presently we have about $22,000 of firearm coverage for about $248 a year ...with our house insurance policy.
I'd like to know what other options are out there....like, the National Rifle Association....i don't know what other options are out there.
I would love to hear from others....what they recommend, what they don't recommend, etc.
Our guns are in a gun safe, but still i'd like to have insurance.
Thank you very much in advance!

 

[Cameramonkey]

I know state farm recommends a separate policy from your homeowners/renters. They can include them in the homeowners as a rider, but they admit freely that it is not your best option. They offer a policy that is for jewelry and guns that is a standalone policy without a deductable. It isnt tied to your homeowners policy, but does require an appraisal of your covered firearms as I recall.

 

[THE BIG SITT]

I know state farm recommends a separate policy from your homeowners/renters. They can include them in the homeowners as a rider, but they admit freely that it is not your best option. They offer a policy that is for jewelry and guns that is a standalone policy without a deductable. It isnt tied to your homeowners policy, but does require an appraisal of your covered firearms as I recall.

That would be a dealbreaker for me. I would hate to have to have all of that documented. Plus my wife might get an idea of what I have actually paid for all of this...

 

[shootersix]

there's a company, named after a city (sorry i dont know the name) that an agent recomended to me, (i'll give you the agency in a pm,but since they are not a site supporter i wont give it here), that he uses, they dont need any info(make model or serial#) till something happens(theft,fire) plus its also a policy that covers you in a self defense shooting, or accidental shooting at a range, the agents a huge nra supporter, and uses this companys insurance, NOT the nra's insurance

i have homeowners thru shelter, and they want a written apraisal on every gun, that included make model and serial#, and i dont want everybody knowing that
not to mention that i have to pay someone for the apraisals

 

[Notalentbum]

I have been with State Farm ins all my life. When the value of my guns began to get up there, I asked my agent for a quote. They were so unreasonably high that I have been looking elsewhere. The quote for an annual premium was roughly 10% of their value. I thought that was ridiculous. The insurance through NRA was way more reasonable. Don't know how they are when its time to make a claim though.

Matt

 

[skm1970]

Thank you all for your informative replies. I was also surprised on how high gun insurance is thru home-owners policy.. I will check with the NRA and see what they want.
Thank you!

 

[alexIndy]

I use state farm for personal property insurance, which is different than home owner policy. I started with my wife's jewelry and had to send in a receipt. After that, I just tell my agent what I want to add and what the value is and it just got added. I do not have to list down serials or even models on some of my guns. I just told her I needed to add a 9mm Springfield handgun at X$ and that's all it took. Just be clear, this is not a liability insurance. IMO, get an umbrella insurance if you need that

 

[davedolli]

I use Collectibles for my stuff. Collectibles Insurance - Protecting Books, Stamps, Antiques and other Rare and Vintage collections in Baltimore, Maryland

Dave

 

[calcot7]

......And that's where the Life Insurance policy kicks in?

That would be a dealbreaker for me. I would hate to have to have all of that documented. Plus my wife might get an idea of what I have actually paid for all of this...

 

[PGRChaplain]

Welcome! NRA Armscare, reasonable rates and you don't need to jump through a bunch of hoops.

 

[DRob]

I have had a State Farm Personal Articles Policy for several years. If your agent wants to charge you 10% of the total value for that coverage, you need a new agent. Our policy costs us right at 1.5% (yep, .015) of the total value. No appraisal was required. They accepted the values I provided then add a very small amount annually for inflation. I do not mind one bit that they have a list of my guns including make, model, serial number, any accessories, and caliber. My tinfoil hat is also covered by the policy!

Regardless of the cost of the policy, read the small print. What sold me on State Farm is that the guns are covered no matter where the loss occurs or the nature of the loss. Some policies will only cover a loss which occurs in your home! Make sure you know what you're paying for.

 

[WhitleyStu]

For me this is where a good gun safe comes in rather than a rider on my insurance policy plus a lot of other valuable items can be stored in a safe.

 

[Rooze1986]

Regardless of the cost of the policy, read the small print. What sold me on State Farm is that the guns are covered no matter where the loss occurs or the nature of the loss. Some policies will only cover a loss which occurs in your home! Make sure you know what you're paying for.

Most major carriers use a standard ISO (Insurance Services Office) form for most homeowners policies, so whichever carrier gives you the best rate will usually work. The ISO HO3 form will protect your contents from most covered perils up to personal property limit. There is a special limit for firearms losses due to theft, so make sure you know what that special limit is. I believe it's $2,500. It doesn't really make sense to Schedule your firearms unless you have a large collection or rare ones.

On a side note, I take detailed photos of all my valuables and firearms including serial numbers on two thumb drives, one in the safe and another in a secure location. The tin foil is strong with this one.